DublinAnd the September 30, 2022 /PRNewswire/ – file “Global Power Tools Market, by Product, by Mode of Operation, by Application and by Region – Forecast and Analysis 2022-2028” Report added to ResearchAndMarkets.com Show.
The global power tools market has been evaluated 30.78 billion US dollars In 2021, the market size is expected to reach 44.18 billion US dollars By 2028, at a compound annual growth rate of 5.30% over the forecast period 2022-2028.
The use of power tools in the automotive and construction industries is expected to increase demand over the next seven years. These technologies help reduce time spent on redundant work and improve overall efficiency. Likewise, auto manufacturers and auto repair and maintenance service providers are increasingly using power tools. Drills, sanders, wrenches, and other equipment are in great demand in the worldwide power tool market.
A top-down and bottom-up approach has been used to estimate and validate the size of the global Power Tools market and to estimate the size of various other dependent sub-markets. The research methodology used for estimating the market size includes the following details: The major market players have been identified through secondary research and their market shares in the respective regions have been determined through primary and secondary research.
This entire procedure includes a study of annual and financial reports of major market players and extensive interviews to obtain key insights from industry leaders such as CEOs, Vice Presidents, Directors and Marketing Executives. All percentages were divided, and distributions were determined using secondary sources and verified with primary sources. All potential parameters affecting the markets included in this research study were calculated, presented in comprehensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
The sectors covered in this report
The global power tools market is segmented by product, mode of operation, and application. Based on the product, the market is categorized into drills, saws, wrenches, grinders, sanders, and others. Based on the mode of operation, the market is classified into electric, pneumatic, and other. Based on the application, the market is categorized into residential, industrial. By region, the global power tools market is categorized into North AmaricaAnd the EuropeAnd the Asia PacificAnd the South americaAnd the The Middle East & Africa.
Automation technologies are used by major manufacturers of electric power tools to handle electric power tools during operations. Companies can now track, connect and tune their tools across multiple job sites, driving up production with the same electric power tool. These automation technologies are expected to contribute to the development of the global electric power tools market during the forecast period.
Power tools are made of a variety of metals, including steel, zinc, copper, brass, aluminum, and nickel. In addition, batteries, motors and electronic components are used in its manufacture. As a result, power tool manufacturers rely heavily on a steady supply of raw materials to ensure smooth operation. Moreover, fluctuation in the prices of raw materials, components or finished goods has various effects on production processes, often resulting in delays, inefficiencies or inability to meet the needs of the power tool market.
Do-it-yourself (DIY) projects are becoming increasingly popular in the power tool market. Today, many companies are developing products with additional security measures to meet the needs of unskilled customers. For example, Bosh Power Tools includes Bosch Prevention features such as rotary hammer drill rotation control clutches and angle grinder restart protection. These features help reduce product-related risks and increase the acceptance of power tools in residential applications.
Main topics covered:
Original market analysis
Key market insights
Market dynamics and forecasts
Global Power Tools Market by Product
Global Power Tools Market by Mode of Operation
Global Power Tools Market by Application
Market size by region
Key company profiles
- Apex Toolkit (US)
- Atlas Copco AB (Sweden)
- Emerson Electric, Co. (United State)
- Hilti Corporation (Liechtenstein)
- Ingersoll Rand plc (Ireland)
- Koki Holding Company Limited (Japan)
- Makita Corporation (Japan)
- Robert Bush (Germany)
- Stanley Black & Decker (USA)
- Tektronic Industries (China)
For more information about this report visit https://www.researchandmarkets.com/r/n9kqq1
Research and Markets
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