Global Power Tools Market Report 2022: Advent of Automation Technologies to Track, Connect and Adjust the Multi-Tool Driving Industry – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Power Tools Market by Product, Mode of Operation, Application and Region – Forecast and Analysis 2022-2028” report has been added to from ResearchAndMarkets.com offer.
Global Power Tools Market was valued at USD 30.78 Billion in 2021 and is projected to reach a market size of USD 44.18 Billion by 2028, growing at a CAGR of 5.30% over the forecast period 2022-2028 .
The use of power tools in the automotive and construction industries is expected to drive demand over the next seven years. These technologies help minimize time spent on redundant tasks and improve overall efficiency. Likewise, automakers and automotive repair and maintenance service providers are increasingly using power tools. Drills, sanders, wrenches and other equipment are in high demand in the global power tools market.
Both top-down and bottom-up approaches have been used to estimate and validate the size of Power Tools market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: Major market players have been identified through secondary research and their market shares in respective regions have been determined through primary and secondary research.
This whole procedure includes the study of annual and financial reports of the main market players and in-depth interviews to obtain key information from industry leaders such as CEOs, VPs, directors and managers. marketing. All percentage shares are divided and the breakdowns have been determined using secondary sources and verified using primary sources. All possible parameters that affect the markets covered in this research study have been considered, thoroughly investigated, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
The global power tools market is segmented by product, mode of operation, and application. Based on product, the market is categorized into drills, saws, wrenches, grinders, sanders, others. Based on the mode of operation, the market is categorized into Electric, Pneumatic, Others. Based on application, the market is categorized into Residential, Industrial. By region, the global power tools market is classified into North America, Europe, Asia-Pacific, South America, Middle East & Africa.
Automation technologies are used by leading power tool manufacturers to manage power tools throughout operations. Companies can now track, connect and adjust their tools across multiple job sites, resulting in increased production with the same power tool. These automation technologies are expected to contribute to the development of the global power tools market over the forecast period.
Power tools are made from a variety of metals, including steel, zinc, copper, brass, aluminum, and nickel. In addition, batteries, motors and electronic components are used in their manufacture. As a result, power tool manufacturers largely depend on a steady supply of raw materials to ensure trouble-free operation. Additionally, fluctuating prices of raw materials, components, or finished products have various effects on production operations, often resulting in delays, inefficiencies, or the 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 develop products with additional security measures to meet the needs of customers who are not qualified specialists. Bosh Power Tools, for example, includes Bosch prevention features such as rotation control clutches for impact drills and restart protection for angle grinders. These features help reduce product hazards and increase acceptance of power tools in residential applications.
Main topics covered:
Parent Market Analysis
Key market information
Market dynamics and outlook
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 Tool Group (US)
Atlas Copco AB (Sweden)
Emerson Electric, Co. (USA)
Hilti Corporation (Liechtenstein)
Ingersoll-Rand PLC (Ireland)
Koki Holdings Co., Limited (Japan)
Makita Corporation (Japan)
Robert Bosch (Germany)
Stanley Black & Decker (USA)
Techtronic Industries (China)
For more information about this report visit https://www.researchandmarkets.com/r/lo8ctu