Power Tools Market Global Analysis & Forecast To 2023 Research Report
Power Tools Market 2019 is latest research report by MarketResearchFuture, the global Power Tools market is expected to Register High Growth Rate during 2019 To 2023.
Power Tools Market 2019
Report analyzes Power Tools Market Key Companies with Size, Share, Trends analysis, and Key Country Forecast to 2023. Power Tools Market Information is segmented by Type (Engine driven power tools, Electric power tools, Pneumatic power tools, Hydraulic power tools and others), Application (Household, Industrial, and Professional) & by Region - Global Forecast to 2023
The Prominent Key Players Key Players of Power Tools Are:
Robert Bosch Tool Corporation (Germany), Stanley Black & Decker, Inc. (U.S.), Makita Corporation (U.S.), Hilti Corporation (Liechtenstein), Husqvarna (Sweden), Techtronic Industries Co. Ltd (Hong Kong), Snap-on (U.S.), Hitachi Koki Co. Ltd. (Japan), Festool (Germany), and Otto Baier GmbH (Germany) are some of the leading players operating in this market.
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The global power tools market is expected to grow at the CAGR of around 5.17% during the period 2017 to 2023.
Power Tool Global Market – Segmentation
The scope of global power tool market is segmented into three major segments which are explained below:
Engine-driven Power Tools
Electric Power Tools
Pneumatic Power Tools
Hydraulic Power Tools
In March, 2017 - Stanley Black & Decker completed its acquisition with Newell Brands tools business to expand the product portfolio. This acquisition is will expand the presence of company in the global tools market. Moreover, the addition of Irwin, Lenox and Hilmor brands will enhance the company’s product portfolio. As a result, this will make a positive impact on the power tool industry to expand the market growth in the untapped regions.
In March, 2017 – Bosch Power Tools India announced to offer a complete range of power tools for construction, metalwork and woodwork industry. This new plant will produce millionth power tool from its Chennai facility which manufacture products such as angle grinders, rotary hammers, marble cutters, impact and rotary drills, air blowers including motors for all the tools. This expansion will result in expanding the market share of Bosch Power Tools in Indian market.
Market Synopsis of Global Power Tools:
Power tools are various types of tools and mechanical devices that operate when they are initiated by an additional power source and mechanism and not the manual labor used with hand tools. This could generally be electric motors, compressed or internal combustion engines.
The growth of global power tools market can be majorly attributed to increasing demand from industrial sector and rising demand from professional segment. Also, increasing usage of power tools for DIY & household activities is also expected to boost the market growth. However, factors such as fluctuation in raw material prices is the major restraint that could hinder the market growth.
The power tools market has been victorious in making its presence felt across the globe. The major regions where it prevails are North America, Europe, Asia Pacific and Rest of the World.
After a thorough analysis of all the growth trends of these regions the report by MRFR (Market Research Future) concluded that North America will dominate in the coming years in terms of region. Aspects like development of distribution channels and higher cost of manual labor foster the growth of the market in this area. U.S. brings in the maximum business and accounts for a huge market share of 81.44%.
The report for Global Power Tools Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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LIST OF FIGURES
TABLE 1 MARKET SYNOPSIS
TABLE 2 GLOBAL POWER TOOLS MARKET, BY TYPE, 2015–2023
TABLE 3 GLOBAL POWER TOOLS MARKET, BY APPLICATION, 2015–2023
TABLE 4 GLOBAL POWER TOOLS MARKET, BY REGION, 2015–2023
TABLE 5 NORTH AMERICA: POWER TOOLS MARKET, BY COUNTRY, 2015–2023
LIST OF TABLES
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 DRIVERS AND RESTRAINTS OF GLOBAL POWER TOOLS MARKET
FIGURE 4 WORLD: INDUSTRY, VALUE ADDED
FIGURE 5 GROWTH OF U.S. OFFICE FURNITURE MARKET, 2013-2015
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