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Diy power tools market growing steadily at 4.04% CAGR to 2021 according to new research report

Diy power tools market growing steadily at 4.04% CAGR to 2021 according to new research report

The global DIY Power Tools market to grow at a CAGR of 4.04% during the period 2017-2021.

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The following companies as the key players in the global DIY power tools market: Makita, Robert Bosch Tools, Stanley Black & Decker, and Techtronic Industries. Other Prominent Vendors in the market are: Atlas Copco, BAIER, Casals, Craftsman, Freudenberg, Hilti, Husqvarna, IRWIN TOOLS, Klein Tools, and Snap-on.

Complete report on the DIY Power Tools Market Research Report spread across 67 pages, profiling 13 companies with table of content is now available at  www.reportsnreports.com/contacts/.aspx?name=1127636 

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DIY Power Tools Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.

The report also includes a discussion of the key vendors operating in this market.

Latest trend gaining momentum in the market is emergence of energy-efficient power tools. Inflation rates and fluctuations in the economy signify that organizations worldwide need to accomplish increased productivity with maximum cost savings.

Energy management is one of the key cost factors that concern organizations. In addition, the development of power tools with high power consumption creates several problems that need to be faced by companies as well as customers and other end-users.

This increases the cost of utilizing power tools.

According to the report, one of the major drivers for this market is DIY concept gaining momentum in developed countries. DIY is a method of building, repairing, and modifying things without the help of any professionals.

Many companies are adopting the idea of DIY to reduce their operational costs and provide products to the customer at a reduced price. One of such companies is IKEA where to the DIY concept has been modified to ready to assemble (RTA).

This concept has reduced the company’s operational expenses, and the company can focus on product development. The company’s product comes with all the instructions and tools required to assemble them.

Access this Report at www.reportsnreports.com/.aspx?name=1127636 .

 

Further, the report states that one of the major factors hindering the growth of this market is High cost for power tools. Different power tools are developed for efficient and easy movement of goods.

These power tools are available with various capabilities and features to increase the operational convenience. they are available with increased usability, accurate controls, and fool-proof technology to eliminate the risks in mishandling high-speed power tools, which increases the cost of power tools.

The high cost of consumables coupled with high maintenance costs causes several small-scale industries to avoid investing in efficient and effective power tools. In addition, high-quality and energy-efficient power tools are expensive, which small-scale industries and the residential sector cannot afford.

The decline in demand for power tools is expected to hinder the growth of the DIY power tools market.

This report covers the present scenario and the growth prospects of the global DIY Power Tools market for 2017-2021. To calculate the market size, the report considers the revenue generated from sales of cordless and corded DIY power tools by vendors in the market to the consumer segment.

Skilled professionals use power tools mainly in the construction industry and are used by home users undertaking refurbishment and improvement projects. Applications of power tools are spread across sectors such as automotive, consumer, infrastructure, construction, woodworking, aerospace, and electrical and electronics.

The global DIY power tools market includes both corded and cordless power tools used by the consumer segment.

Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?           

What are the key market trends?                       

What is driving this industry?                                  

What are the challenges to market growth?

Who are the key vendors in this industry space?

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of the key vendors?

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