Consumer & Luxury Goods Market Research News

Power tools market is benefited by growth of smart technologies explored in latest research

Power tools are the tools and mechanical devices that operate on an external power such as electricity, battery, or compressed air. These tools include handheld machine drills, hydraulic presses, and gas tools among others. They are used for variety of applications such as production, packaging, assembly, and maintenance operations such as drilling, screw driving, chiseling, and sanding.

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Electric power tools produced in the Power Tools Market are used to reduce the workload and increase the output in the manufacturing and construction industry. They have different types of operations like drilling, chiseling, sanding and screw driving.

The growing need for infrastructure development in emerging countries drives the growth of power drill set.

Electric and pneumatic tools in the Power Tools Market are operated by using external power sources.

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The carpentry power tools reduce the time of the output. The concept of DIY technique is driving the demand for electric power tools in the residential sector.

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Scope & Regional Forecast of the Power Tools Market

The Power Tools Market has a growing demand in Asia Pacific and North America. Portable power tools have a good growth in Asia Pacific.

Infrastructure development In India and China is responsible for the growth of the market.

The changing life preference is responsible for the demand for the Power Tools Market in North America. US and Canada will the main contributor for the power multi tool.

The increase in the construction applications will augment the demand for portable power tools in the forecast period.

Robust infrastructural development in emerging economies and infrastructural investment will drive the growth prospects of the Power Tools Market. Automotive sector will have good growth of the portable electric drill.

The demand for the industrial power tools is more in the aerospace industry during the manufacture of airplanes and their repair.

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Segmentations & Key Players Involved in the Power Tools Market

The Power Tools Market can be broken down into various segmentations on the basis of –

  • Mode of operation- Electric Power Tools, Drills, Grinders, Chippers, Others, Pneumatic Power Tools, and Others.
  • Power source- Corded Electric Power Tools and Cordless Electric Power Tools.
  • End User- Residential and Non-residential.
  • Region- North America, Europe, Asia Pacific.

Some of the key players involved in the Power Tools Market are as follows:

  • Stanley Black & Decker, Inc.
  • Robert Bosch GmbH
  • Makita Corporation
  • Techtronic Industries Co. Ltd.
  • Actuant Corporation

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