Power tools are those tools that are triggered by a power source instead of physical work. Power tools are in large demand across sectors owing to their high efficiency and hassle-free use, along with their mobility, decreased use of labor, and time. The global Power Tools market is expected to rise at a considerable rate in the forthcoming years.
In the coming period, the demand for power tools is anticipated to increase due to increased usage in the construction and automotive industries. Fastening tasks abound on automobile manufacturing and assembly lines. These uses are expected to heighten the demand for power tools in the near future. Eventually, it boosts the growth of the global Power Tools market.
Furthermore, power tools help to lessen the time spent on needless, repetitive activities while also increasing efficiency. As a result, power tools are progressively being employed by manufacturers of vehicles and providers of automotive maintenance and repair service solutions. Similarly, the construction industry's increased usage of wrenches, sanders, drills, and other equipment is rising demand for these items. Owing to their high mobility and simplicity of use, power tools are becoming more common in-home applications. This key fact is expected to contribute more to the global Power Tools market expansion during the forecast period.
Covid-19 Impact on Power Tools Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Power Tools Market Segment Overview
Based on the Product, the Drills segment dominated the market and is predicted to continue its dominance in the forecast period. Drills are easy to use, cheaper as compared to other power tools, and are generally used in industrial and household applications. In addition, drills are also prominently used as a basic repair and maintenance tool. All these crucial factors are escalating the growth of the segment. According to Mode of Operation, the Electric segment accounted for the largest share of the market. The large share is attributed to the easy mobility and operation efficiency of electric tools. The arrival of powerful battery packs has resulted in the increased power of electric tools.
Power Tools Market, By Product
· Drills
· Saws
· Wrenches
· Grinders
· Sanders
· Others
Power Tools Market, By Mode of Operation
- Electric
- Corded
- Cordless
- Pneumatic
- Others
· Industrial
· Construction
· Automotive
· Aerospace
· Others
· Do-It-Yourself (DIY)
Power Tools Regional Overview
In terms of region, North America is a significant shareholder of the Power Tools market. Increasing infrastructure development and industrial expansion in the region are key reasons for the growth of the market in this region. Moreover, the unavailability of cheap labor helps in the adoption of DIY jobs, this fact contributing more to the market’s growth in this region. Similarly, the market of the Asia Pacific is projected to grow at the fastest rate owing to the thriving automotive industry in countries such as India and China. Growing disposable income, rising construction & infrastructure development activities are key factors escalating the growth of the regional market. Further, the market in Europe is expected to witness healthy growth in the future. The presence of manufacturing and production plants across several countries of the European Union is boosting the growth of the market in this region.
Power Tools Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Power Tools Market Competitor overview
Some key developments and strategies adopted by manufacturers in Power Tools are highlighted below.
· In September 2021, Bosch Power Tools, a global leader for power tools and power tool accessories, expands its comprehensive line of woodworking and wood cutting solutions with the introduction of its 12V and 18V cordless sanders, the GEX12V-5 Brushless 5 In. Random Orbit Sander and GEX18V-5 Brushless 5 In. Random Orbit Sander. Delivering one of the best user experiences on the market, the new cordless sanders feature brushless motors and are designed for optimal balance and convenience. Thus, allowing users to tackle hard-to-reach work areas with power, control, and precision.
Power Tools Market, Key Players
· Koki Holdings Co., Ltd.
· Atlas Copco AB
· Ingersoll-Rand plc
· Emerson Electric Co.
· Hilti Corporation
· Makita Corporation
· Snap-on Incorporated
· Robert Bosch GmbH
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Power Tools Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product
- 5.2.1. Drills
- 5.2.2. Saws
- 5.2.3. Wrenches
- 5.2.4. Grinders
- 5.2.5. Sanders
- 5.2.6. Others
- 5.3. Market Analysis, Insights and Forecast – By Mode of Operation
- 5.3.1. Electric
- 5.3.1.1. Corded
- 5.3.1.2. Cordless
- 5.3.2. Pneumatic
- 5.3.3. Others
- 5.3.1. Electric
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Industrial
- 5.4.2. Construction
- 5.4.3. Automotive
- 5.4.4. Aerospace
- 5.4.5. Others
- 5.4.6. Do-It-Yourself (DIY)
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Power Tools Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product
- 6.2.1. Drills
- 6.2.2. Saws
- 6.2.3. Wrenches
- 6.2.4. Grinders
- 6.2.5. Sanders
- 6.2.6. Others
- 6.3. Market Analysis, Insights and Forecast – By Mode of Operation
- 6.3.1. Electric
- 6.3.1.1. Corded
- 6.3.1.2. Cordless
- 6.3.2. Pneumatic
- 6.3.3. Others
- 6.3.1. Electric
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Industrial
- 6.4.2. Construction
- 6.4.3. Automotive
- 6.4.4. Aerospace
- 6.4.5. Others
- 6.4.6. Do-It-Yourself (DIY)
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Power Tools Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product
- 7.2.1. Drills
- 7.2.2. Saws
- 7.2.3. Wrenches
- 7.2.4. Grinders
- 7.2.5. Sanders
- 7.2.6. Others
- 7.3. Market Analysis, Insights and Forecast – By Mode of Operation
- 7.3.1. Electric
- 7.3.1.1. Corded
- 7.3.1.2. Cordless
- 7.3.2. Pneumatic
- 7.3.3. Others
- 7.3.1. Electric
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Industrial
- 7.4.2. Construction
- 7.4.3. Automotive
- 7.4.4. Aerospace
- 7.4.5. Others
- 7.4.6. Do-It-Yourself (DIY)
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Power Tools Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product
- 8.2.1. Drills
- 8.2.2. Saws
- 8.2.3. Wrenches
- 8.2.4. Grinders
- 8.2.5. Sanders
- 8.2.6. Others
- 8.3. Market Analysis, Insights and Forecast – By Mode of Operation
- 8.3.1. Electric
- 8.3.1.1. Corded
- 8.3.1.2. Cordless
- 8.3.2. Pneumatic
- 8.3.3. Others
- 8.3.1. Electric
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Industrial
- 8.4.2. Construction
- 8.4.3. Automotive
- 8.4.4. Aerospace
- 8.4.5. Others
- 8.4.6. Do-It-Yourself (DIY)
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Power Tools Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product
- 9.2.1. Drills
- 9.2.2. Saws
- 9.2.3. Wrenches
- 9.2.4. Grinders
- 9.2.5. Sanders
- 9.2.6. Others
- 9.3. Market Analysis, Insights and Forecast – By Mode of Operation
- 9.3.1. Electric
- 9.3.1.1. Corded
- 9.3.1.2. Cordless
- 9.3.2. Pneumatic
- 9.3.3. Others
- 9.3.1. Electric
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Industrial
- 9.4.2. Construction
- 9.4.3. Automotive
- 9.4.4. Aerospace
- 9.4.5. Others
- 9.4.6. Do-It-Yourself (DIY)
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Koki Holdings Co., Ltd.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Atlas Copco AB
- 10.6. Ingersoll-Rand plc
- 10.7. Emerson Electric Co.
- 10.8. Hilti Corporation
- 10.9. Makita Corporation
- 10.10. Snap-on Incorporated
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
