Power tools are specific tool, used to produce the products with increased comfort & convenience. Some types of power tools include engine-driven power tools, electric power tools, and pneumatic power tools. Engine-driven power tools require steam engines to work and are used by both professionals and individuals to cut the wood & hedges. Power basis for pneumatic power tool is beaten air from the air compressors that helps the tool to function proficiently. The key trends expected to shape up the power tools market include rise in demand for lithium-ion batteries, particularly Ni-Cd. Key essential features of power tools include durability, better performance, precision, and time efficiency.
By technology, power tools market is categorized as pneumatic
power tools and electric power tools (corded power tools and cordless power
tools). Electric tools segment holds major share in the global market. However,
the pneumatic power tools are emerging as prospective alternatives to electric
power tools in industries, even though commercial production of pneumatic tools
is still low owing to their high price as well as unavailability of compressed
air cylinders. By tool type, market is categorized into concrete segment, metal
segment, wood-working segment and others. In addition, by verticals, market is
categorized as industrial, construction, automotive and others.
Rise in adoption of cordless power tools, growth in construction industry
in emerging economies and rise in demand for fastening tools in industrial
environments are some major factors, which are responsible for growth of the
power tool market. However, fluctuations in raw material prices and high
maintenance cost of power tools are major hindering factors for market.
By regional analysis, the Asia-Pacific is estimated to be the
fastest-growing market for global power tools. The demand for power tools for
residential applications is limited owing to lack of do-it-yourself (DIY)
activities in the region wherein inexpensive labor is abundant. The low-priced
power tools have created strong competition among the manufacturers. With
growing manufacturing sectors, India country has become one of the
fastest-growing countries in the adoption of power tools. Rise in investments
in residential & infrastructure markets in the region are projected to boost
the construction industry, thus driving the use of power tools. In North-America
region, countries like Canada and U.S. have been witnessing rise in demand for
cordless power tools. Wireless charging power tools use inductive charging
technology for charging and this eliminates the requirement to remove the
battery from the tool. These wireless chargers are having superior technology
and are witnessing higher demand from the residential consumers as well. It is
anticipated that global Power Tools Market Growth Forecast
will be reached at rapid pace because of growth in construction industry during
the forecast period.
For More Information, refer to
the below link: –
Global Power
Tool Manufacturers
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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