Tools that are activated utilizing a power source apart from manual labor are termed as power tools. They are utilized in countless applications such as production and assembly lines, maintenance and repair, packaging, and DIY jobs. Ease and competence of operation, decreased time and labor requirements, and easy portability are some of the prominent aspects driving the requirement for power tools across several industries.
The effective growth in adoption of power tools in the automotive and
construction industry is anticipated to drive their requirement over the next
seven years. The automotive production and assembly lines comprise a lot of
fastening jobs. Power tools support in decreasing the time linked with these
redundant tasks, along with delivering increased proficiency. Thus, power tools
are progressively used by vehicle producers as well as the repair and
maintenance service providers in the automotive industry. Similarly, the increasing usage
of drills, sanders, wrenches, and several other tools in the construction
sector is increasing the requirement for these tools.
In addition, the foremost factors propelling
the growth of the market increasing adoption of cordless power tools, rising requirement
for fastening tools in industrial environments, and augmenting the construction
industry in emerging regions are the key factors propelling the power
tools market revenue. The power tools market suggests several
opportunities for manufacturers to aim smart connectivity for power tools.
Furthermore, the electric fastening tools play a vital role in the installation
of wind turbines. Such fastening tools are utilized throughout the foundation
of bolts, gearboxes, rotor bearing tools, and wind turbines. Additionally, such
tools are utilized in maintenance, repairing, and inspecting tower procedures.
To manage the accuracy, a tightening aspect is decided and accordingly, torque
is applied to joints. As wind turbine installation demands precise torque,
electric fastening tools are propelled to be the most appropriate power tools
for this industry. The increasing installation capacity may create lucrative
opportunities for players in the power
tools market growth forecast.
Increasing utilization of the instruments in residential applications is predicted to escalate the market towards the growth trajectories. The surge in acceptance of the Do-it-Yourself (DIY) technique is experiential as a trend around the globe. Moreover, the unavailability of household workers has forced individuals to take up DIY jobs for household repair and maintenance. House repair, gardening, etc. is calmer with the support of user-friendly and ergonomic tools which has led to augmented demand for these products. The effective growth in disposable income of the people is also a foremost factor propelling the market growth.
Furthermore, technological advancements are
another aspect influencing the growth of the market. Corporates are introducing
technologically advanced products in order to improve the efficiency of their
products. For instance, the Flexvolt battery suggested by Dewalt automatically
switches battery voltage depending upon the tool you devoted to it. Automatic
switch of voltage supports in manually adjusting the power before using dissimilar
corded Power Tools. Similarly, during January 2019, Bosch Power Tools
introduced the X-Lock angle grinder lock interface. The transforming system for
grinders ejects wheels with just a pull of a lever and supports in eliminating
the usage of other tools. Moreover, the growing adoption of cordless tools that
deliver the easy mobility and no external power source is propelling the market
growth.
For More Information, refer to the below link: –
Power
Tools Market Research Report
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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