The power tools market market size is expected to grow at a CAGR of 4.6% between 2017 and 2023, power tools market to reach USD 35.58 billion by 2023.
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The power tools market reviews the 204 pages provides the overall view of the global market through illustrative segmentations, analyses, and market size estimations in terms of geographic regions,
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North America is expected to hold the largest market share during the forecast period. The growth of the North American market is mainly driven by the growing construction industry and rising automotive sales in this region.
The increasing wind energy installations have boosted the demand for fastening tools in this region.
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In North America, power tools are extensively used for both industrial as well as residential applications. The DIY trend is already prevalent among consumers in this region and is likely to continue to drive the demand for cordless tools.
1 Ranking Analysis of Players in Power Tools Market
2 Power Tools Market (Global) Competitive Leadership Mapping, 2017
3 Competitive Benchmarking
4 Competitive Situations and Trends
5 Battle for Market Share: New Product Launches and Developments Emerged as Key Strategies
6 Product Launches and Developments
7 Acquisitions and Collaborations
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The key driving factors for the growth of the market are the increasing urbanization, constant growth of the construction industry in emerging economies, increasing sales of commercial vehicles across the world, and rising demand for cordless tools. However, the high maintenance cost associated with power tools hinders the market growth.
Useful Of this Key Audience follow:
- Power tool manufacturers
- Suppliers of air compressors
- Suppliers of brushed DC motors and brushless DC (BLDC) motors
- Suppliers of bearings
- Suppliers of Li-Ion batteries
- Suppliers of torque sensors/torque transducers
- End-users industries
- Governments, financial institutions, and investment communities
- Original equipment manufacturers (OEMs) of electronic components
- Raw material suppliers
- Research organizations
- Technology investors and venture capitalists
- Technology-standard organizations, forums, alliances, and associations
The overall Power Tools market was dominated by Prominent players in the market include Robert Bosch (Germany), Stanley Black & Decker (US), Techtronic Industries (TTI) (Hong Kong), Makita (Japan), Hilti (Liechtenstein)Atlas Copco (Sweden), Apex Tool Group (US), Ingersoll-Rand (Ireland), Hitachi Koki (Japan), Snap-on (US), and C. & E. Fein (Germany).
Other players in this market include Emerson Electric (US), Panasonic (Japan), Chevron Group (China), TTS Tooltechnic Systems (Germany), Illinois Tool Works (US), Positec Group (China), CS Unitec (US), FRIEDRICH DUSS (Germany), Uryu Seisaku (Japan), Deprag Schulz (Germany), KYOCERA (Japan), AIMCO Global (US), INTERSKOL (Russia), and FERM. (Netherlands).
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The research report on the global power tools market covers the market on the basis of mode of operation, tool type, application, and geography.
The power tools market based on mode of operation has been segmented into electric, pneumatic, and other tools. Other power tools include hydraulic and power-actuated tools.
Electric power tools have been further classified into corded and cordless tools.
On the basis of tool type, the market has been segmented into drilling and fastening tools, demolition tools, sawing and cutting tools, material removal tools, routing tools, and others that include measuring and layout tools, laser tools, dust extractors, glue guns, and heat guns.
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