Report Scope: This report covers different types of power tool categories, such as drilling tools, fastening tools, cutting tools, grinding tools and others.It also analyzes accessories such as batteries, chargers, bits, blades, etc.
This report does not cover wearable clothes, jobsite radios and lights, power tool attachments (for example, stands and tables.It also does not cover combo kits of power tools because of the disparity in the standardization products between manufacturer’s combo packs.
Companies use different strategies to sell their products. Therefore, we have assumed that power tools are sold on a per unit basis.
This report covers different power-tool technologies tools such as cordless, pneumatic and gasoline-fueled, engine-operated tools.Electric type (cordless type) power tools have a sizeable customer base compared to that of pneumatic and gasoline-operated tools.
Nonetheless, consumers from developing countries like India use corded-type tools because they are less expensive to use and have a high reselling price.
This report profiles major companies, their key developments, their competition landscape and others. The impact of COVID-19 also is covered in this report.
All market values are in $ million and these values are considered as nominal values; 2019 is considered as the base year, 2020 as the projected year and the values forecasted from 2021 to 2025. The market values are forecasted based on different associated industry factors such as construction industry growth, per capita income, technology development, power tool adoption rate and others.
Report Includes: - 27 tables - An updated review of the global market for power tools within the manufacturing industry - Analyses of the global market trends, with data from 2019 and 2020, and projections of compound annual growth rates (CAGRs) through 2025 - Estimation of market size and market forecast for power tools, and corresponding market share analysis by product type, modes of operation, installation type, application and geographical region for key market segments and sub-segments - Information on market dynamics, macroeconomic industrial scenario, market value & pricing, value chain analysis, and other factors that stimulus and impact the global power tools market - A brief general outlook of the competitive environment between vendor companies, their global rankings and company share analysis, product offering and market development strategies - Company profiles of the market leading participants including Atlas Copco AB, Emerson Electric Co., Hilti Corp., Robert Bosch GmbH and Stanley Black & Decker Inc.
Summary: Power tools are vital for infrastructure development because hand tools are insufficient to perform many operations with the high accuracy that power tools offer. Also, cordless power tools are highly portable and can perform operations such as drilling, grinding, cutting, etc. on the top point of Burj Khalifa.
Many innovations are occurring in the ergonomic design and handling of power tools, such as the double-coated handle and the development of connected tools. Presently, most power tool manufacturers are focused on the battery powered tools which can complete operation with a single recharge.
In terms of value, the market for power tools is projected to grow with a CAGR of REDACTED and it is expected to reach nearly REDACTED by 2025 owing to the rising the demand at the global level for from different end use industries including construction, automotive, oil and gas, power and energy and others.In the COVID-19 pandemic the global market for power tools loses its traction due to imposed strict lockdown across the world.
Although in 2021, it will be at better position owing to most end-user industries started to revive in the worldwide scenario.
In the product type segment, drilling and fastening tools segment is expected to hold more than 44% share in the global market. Drilling tools can be used for drilling a hole in wall, wood and non-hard metal; drilling tools are also work as screwdriver to put-in a screw on any surface with motor driver tools. contractors related to construction industries mostly are used these types of screwdrivers. Also, fastening tool such as torque wrenches are also known as nutrunning tools and mostly used in automotive and transportation aftermarket for as assembly tools.
In the power tools consumables or accessories, battery related products such as Li-ion battery, charger, adopter, etc. are gaining significant traction in the developed countries owing to growing adoption of cordless power tools.
In the mode of operation segment, the market is studied into three major segments: electric, pneumatic and others.In the electric segment we have covered corded type and cordless type tools: corded type tools are generally used where electric power supply can easily provide or in a stationary application such as automotive workshop, carpentry shop and others.
While cordless tools are used where electric power supply is not available or user do not want to hold heavy weight tools for long during construction related work. Moreover, the cordless power tools mostly are used in DIY application by residential user for home improvement like gardening, modernization and designing of building, etc.
In the installation segment, we have covered portable type tools as well as stationary type tools.In the portable type of segment, we have covered the power tool category which is easy to move from one location to another location.
While in the stationary type of segment, we have covered the tools which are not easy to move and use for heavy duty application.
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