Power tools include assembly tools,
precision instruments that requires a regular maintenance of moving parts. These
tools are designed for the compulsory recalibration at regular time intervals
for their precise operations. These tools consist of motors, batteries, power
connections, and other are some of the key components of power tools. The regular
maintenance activities such as oiling, sharpening, replacement of parts, and
other repairs are required for proper working of tools, which in turn may incur
a high cost. The consumers particularly in developing countries may not want
undue expense to be incurred on maintenance of power tools due to availability
of low-cost manual labor. Some of the key application areas of using power
tools include material removal tools such as grinder’s abrasive cutting,
grinding, and polishing applications. Moreover, manufacturers have started using
brushless motors that are more efficient than brushed models to fetch out more
powerful cordless electric tools. The power tools may face an increased
competition from low-cost imports, particularly among more basic items. They
are widely used in metal fabrication shops, automotive worksites, and
construction sites.
According
to study Power tools
market research report some of the key players manufacturing power tools include Atlas
Copco AB, Emerson Electric Co., Hilti Corporation, Ingersoll-Rand plc, Koki
Holdings Co., Ltd., Makita Corporation, Robert Bosch GmbH, Snap-on
Incorporated, Stanley Black & Decker Inc., and Techtronic Industries Co.
Ltd.The players operating in the power tools market have adopted new strategies
associated to product launch and business expansion for strengthening their
market outreach and sustaining stiff competition in the market.
The
easy of availability & portability of electric power tools is expected to stimulate
implementation of everyday applications such as drilling, sawing, and cutting,
which in turn expected to boosts global power tools
market revenue.
Further, the market is expected to witness increased adoption owing to factors associated
such as rise in application of power tools such as automobile, construction,
energy, aerospace, and others. The demand of power tools is largely driven by
the increase in adoption of electric power tools and growth of energy efficient
power tools. However, high purchase costs of electric power tools are
anticipated to impede the growth of the market. The power tools are often
available and used in various forms that are simple to operator including
hammer drills, electric screwdriver, and fast screw guns.
The
power tools industry is expected to
register revolutions in aspect of tool design, ergonomics, efficiency &
productivity, battery performance, and other connectivity associated to technologies.
The manufacturers are further investing in more towards cordless power tools for
making it better positioned for themselves in a highly competitive power tools
market. However, factors such as unavailability of skilled labour and high
costs including hiring of professionals from basic services in major cities
across the country are further anticipated to create significant opportunities
and drive demand for power tools which in turn may drive power tools market
revenue. Power tools have various applications in an automotive industry
performing high-strength tasks and cutting heavy metals. The ongoing investment
by the automotive industry in power tools is multiplying the growth of the
market.
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