Surge in popularity of DIY techniques, investments in infrastructural developments, and a rise in disposable income of people drive the market growth
PORTLAND, OR, UNITED STATES, August 17, 2021 /EINPresswire.com/ — The market growth is attributed to the rise in adoption of power tools in professional and personal application. Industrial and do-it-yourself (DIY) sectors are the two major applications of power tools. The industrial sector accounts for the maximum share in the global market, owing to the dominant use of power tools for process automation in the construction and automotive industries.
The global power tools market size was $32.7 billion in 2019, and is projected to reach $48.7 billion by 2027, registering a CAGR of 4.8% from 2020 to 2027.
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Power tools have varied applications in non-residential and residential sectors. There has been a growth in theapplication of power tools,which is facilitated by work efficiency attained through the use of advanced sensors to analyze and execute tasks with minimum errors. There is an increase in thedevelopment of the global power tools market, due to boost in trend of automation empoweringgreater returns on investments (ROI) and cost optimization.
Top 10 Leading Players
Atlas Copco AB
Emerson Electric Co.
Koki Holdings Co., Ltd.
Robert Bosch GmbH
Stanley Black & Decker Inc.
Techtronic Industries Co. Ltd.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging power tools market trends and dynamics.
An in-depth market analysis is conducted by constructing market estimations for the key market segments between 2019 and 2027.
Extensive analysis of the power tools market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global power tools market forecast from 2020 to 2027 is included in the report.
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Key Market Segments
By Mode Of Operation
Corded Power Tools
Cordless Power Tools
By Tool Type
Material Removal Tool
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