Global Power Tools Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

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Competition Scenario In Global Power Tools Market

The global power tools market is highly competitive with ~300 players which include globally diversified players, and regional players as well as a majority number of country-niche players having their niche in power tools manufacturing and dispensing to multiple end-user industries.

Country Niche players held the largest market share by type. While large global players control about 10% of the market share by type. Some of the major players in the market include Robert Bosch GmbH, Makita Corporation, Hilti Corporation, Techtronic Industries Co. Ltd., 3M, Ingersoll Rand, Stanley Black & Decker, Inc, Snap-On Incorporated, Atlas Copco, KYOCERA Industrial Tools Corporation, and others.

What is the Expected Future Outlook for the Overall Global Power Tools Market Across the globe?

The Global Power Tools market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Power Tools market is driven by factors such as growing automotive industry, and rising adoption of power tools in households as an increasing trend towards do-it-yourself (DIY). However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

The Global Power Tools market is also widely impacted by the new innovations and development. For instance, In January 2022, Hilti launched Nuron a new cordless platform that radically simplifies work on construction sites, enhances tool park management, and drives performance to much higher levels. Nuron is based on a single battery system that covers all relevant applications from lightweight to heavy weight.

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In October 2021, Stanley Black and Decker partnered with specialty materials provider Eastman to advance sustainability in the power tools industry. Black+Decker, a Stanley Black & Decker Brand, will be releasing a new product line, reviva, offering the brand’s first sustainability-led power tools that utilize Eastman’s Tritan Renew copolyester.

The global power tools market witnessed significant growth during the period 2017-2022, the rising automotive industry, the construction industry, and increasing adoption of power tools in households as DIY. The growth rate is expected to remain significant during the forecast period. Though the market is highly competitive with ~300 participants, the majority of country niche players dominate the market share by type, and global players also hold a significant share.

Market Taxonomy

By Product

• Drills
• Saws
• Wrenches
• Grinders
• Sanders
• Others

By Mode of Operation

• Electric
• Pneumatic

By End-User

• Industrial
• Residential

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By Geography

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia Rest of Asia Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

For more insights on the market intelligence, refer to below link:-

Global Power Tools Market

3 Key Insights on Competitive Landscape in Global Power Tools Market: Ken Research

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Country Players Dominate in terms of Number while Regional Players Dominate hold the Highest Market Share, Despite the Presence of ~300 Competitors, finds a recent market study on the Global Power Tools Market by Ken Research.

Power tools are the equipment used to cut, wrench, saw drill, and polish materials. It is classified as stationary power tools and portable power tools. Stationary power tools such as table saw machines, drill presses, band saws, and others are used for precision, strength, and smoothness. Portable power tools are used for low weight, minimal heat generation, and longer time span of the machine such as wrenches, and drill machines.

Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

Global Players Constitute ~10% of the Total Number of Competitors, While Country Niche Players Dominate Representing ~55% of Total Competitors

Competitive Analysis by the research study found that the Global Power Tools Market is highly competitive with ~300 players which include country-niche players, regional players as well as a significant number of globally diversified players, who deal in manufacturing and supplying power tools. The country-niche players hold a significant portion of the market revenue share followed by regional players. Most of the players are having their headquarters in the North American region.

Regular Product Improvisation and New Product Development Drive the Major Players in Formulating their Key Strategies.

Detailed comparative analysis of key competitors available within the research study reveals that players have a variety of power tools products catering to various end users including, cordless power tools, drills, hammer drills, impact drivers, grinder, sanding, pneumatic, sawing, and others. All leading competitors have a strong presence in the global power tools market. Furthermore, several companies and organizations are aggressively investing in R&D to cater to the demand of end-users.

• In May 2022, Makita Corporation launched 19 new XGT cordless tools and equipment to expand the system. The 40V | 80V XGT system gives users one battery platform for a full range of equipment and tools.
• In January 2022, Bosch Power Tools, the global leader in power tools and power tool accessories, launched a new hammer drill/driver under the PROFACTOR system. The hammer drill/driver includes Bosch Power Tools BITURBO Brushless technology to help energize the next generation of high-powered cordless tools.

Government Policies and Increased Adoption Of Power Tools Globally Leading To Major Industry-Wide Developments, Acquisitions, Collaborations

• The National capital goods policy envisages increasing production of capital goods from ~ US$ 28 billion in 2014-15 to ~ US$ 91 billion by 2025. Capital goods include machine tools, textile machinery, moulds and press tools, printing and packaging machinery, and others. It envisages increasing export from the current 27% to 40% of production while increasing the share of domestic production in India’s demand from 60% to 80%.
• In October 2021, Stanley Black and Decker partnered with specialty materials provider Eastman to advance sustainability in the power tools industry. Black+Decker, a Stanley Black & Decker Brand, will be releasing a new product line, reviva, offering the brand’s first sustainability-led power tools that utilize Eastman’s Tritan Renew copolyester.
• In February 2019, KYOCERA acquired 100% ownership of Van Aerden Group BV, a European-based manufacturer of pneumatic tools. Through this acquisition, KYOCERA aims to strengthen its pneumatic tool business in Europe.

 For more information on the research report, refer to the below link:

Global Power Tools Market

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