Power Tools Market Size to Grow by USD 10.33 billion, Rise In Global Construction and Infrastructure Development Activities to Boost Market Growth – Technavio – QNT Press Release


NEW YORK, Sept. 26, 2022 /PRNewswire/ — The “Power Tools Market by Technology (Electric, Pneumatic, And Others) and Geography (North America, EuropeAPAC, Middle East and Africaand South America) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. The potential growth difference for the power tools market size between 2021 and 2026 is USD 10.33 billion. To get the exact CAGR and the YOY growth rate, Request a FREE PDF Sample Report

Key Market Drivers

The increase in global construction and infrastructure development activities is driving the growth of the market. The construction industry is a major user of power tools. They are used to carry out operations such as drilling, cutting, and grinding. The growth in construction activities will have a positive impact on the growth of the global power tools market. The rising demand for public infrastructure in emerging markets such as Russia, Brazil, China, Indiaand South Africa is also driving the market growth.

Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our FREE PDF Sample Report

Market Segmentation

By technology, the electric segment will be the largest contributor to market growth during the forecast period. The popularity of electric power tools has increased owing to their advantages in terms of form, size, and convenience. Moreover, the demand for cordless, battery-driven power tools is driving the growth of the electric power tools market during the forecast period. In addition, electric power tools are considered environment-friendly and energy-efficient.

By geography, APAC will dominate the market with 43% of the market’s growth during the forecast period. This growth is attributed to factors such as slow growth in the automotive industry, an increase in the rise in residential construction activities, and high demand from the aerospace industry. , this region will grow at a faster rate than other regions. Japan and China are the key countries for the power tools market in APAC.

View our FREE PDF Sample Report for additional insights into the contribution of all the segments and regional opportunities in the report

Some Companies Mentioned with their Offerings

ANDREAS STIHL AG and Co. KG, Atlas Copco AB, Apex Tool Group LLC, C. and E. Fein GmbH, CHERVON China Trading Co. Ltd., Evolution Power Tools Ltd, Emerson Electric Co., Illinois Tool Works Inc. Group Silverline Ltd, Hilti Corp., JPW Industries Inc., Koki Holdings Co. Ltd., Makita USA Inc., Nemo Power Tools Ltd., Panasonic Corp, Positec Tool Corp, Robert Bosch GmbH, Snap On Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., among others, are the main players operating in the market. The key offerings of some of these vendors are listed below:

  • ANDREAS STIHL AG and Co. KG – The company offers power tools that include cordless chainsaws used for cutting firewood, grounds maintenance, horticulture, and indoor sawing work.
  • Apex Tool Group LLC – The company offers power tools that improve operator safety while minimizing marring, scratching, and damage.
  • Atlas Copco AB – The company offers power tools such as pistol cordless screwdriver and cordless nutrunner.
  • Emerson Electric Co. – The company offers power tools that include pneumatics, bench and stationary, corded power tools, cordless power tools, and tile saws.
  • Illinois Tool Works Inc. – The company offers power tools that improve contractor productivity and building quality in residential and commercial construction.

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Related Reports

Cordless Power Tools Market by End-user and Geography – Forecast and Analysis 2021-2025: The cordless power tools market share is expected to increase by USD 6.17 billion from 2021 to 2025.

Power Tools Market in Europe by Technology, Application, and Geography – Forecast and Analysis 2021-2025: The power tools market share in Europe is expected to increase by USD 1.59 billion from 2020 to 2025.

Power Tools Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.59%

Market growth 2022-2026

USD 10.33 billion

Market structure

Fragmented

YoY growth (%)

4.21

Regional analysis

North America, Europe,…

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