Power Tools Market Growth, Size, Share, and Trends Forecast 2024-2032

The global power tools market size was valued at USD 26.61 billion in 2022 and is projected to grow from USD 27.51 billion in 2023 to USD 36.82 billion by 2030, exhibiting a CAGR of 4.3% during the forecast period. The Asia-Pacific dominated the power tools industry with a market share of 35.43% in 2022.

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Recent Industry developments of power tools market:

• Makita UK extended its outdoor power tools segment with its advanced ‘XGT 40VMax machines’. It includes UR002G 40VMax Cutter and 40VMax Hedge Trimmer that are brushless.
• Makita Corporation introduced an advanced nailer named 18 Gauge 2” Brad Nailer (AF506). It is a battery-operated power tool with better ergonomics. It can be used on hard and soft wooden surfaces.
• Hilti Corporation announced an expansion of its rotary hammer segment and combination portfolio with an introduction ‘TE 70-ATC/AVR’, the powerful SDS-Max-Combination Hammer. The newly presented tool delivers ~40% sooner concrete drilling.
• Robert Bosch GmbH introduced cult screwdriver ‘Ixo Classic’ that is utilized for precise screwdriving on sensitive materials. 30% shorter charging time attributed to the electronic updates results in re-use of this tool within two hours.

Top Keyplayers of power tools market:

• Robert Bosch GmbH (Germany)
• Stanley, Black & Decker, Inc. (U.S.)
• Hilti Corporation (Liechtenstein)
• Atlas Copco AB (Sweden)
• Makita Corporation (Japan)
• Emerson Electric Co. (U.S.)
• Hitachi Koki Ltd. (Japan)
• Ingersoll Rand (U.S.)
• Techtronic Industries Co. Ltd. (Hong Kong)
• Enerpac Tool Group (U.S.)

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Power Tools Market Segmentation

Power Tools Market Share, Size & COVID-19 Impact Analysis, By Mode of Operation (Electric, Pneumatic and Others), By Tool Type (Drilling & Fastening Tools, Material Removal Tools, Sawing & Cutting Tools, Demolition Tools, and Others), By Application (DIY and Industrial) and Regional Forecast Between, 2023-2030

Reasons to buy this report:

This report thoroughly examines the competitive dynamics, growth areas, market conditions, and trends in the power tools market. It assists businesses in identifying opportunities for growth and development while highlighting potential challenges and risks. Stakeholders are assisted in developing more informed investment and market strategies by the report’s assessment of product portfolios and business segments.

A thorough grasp of the industry dynamics outlined in the report can help develop successful success strategies in the power tools market and greatly improve decision-making. All things considered, this report is an excellent source of information for anyone wishing to learn more about this rapidly changing sector.

Key Report Highlights on the Power Tools Market:

• Market CAGR for the Forecast Period: Provides insights into the Compound Annual Growth Rate (CAGR) of the Power Tools Market from 2024 to 2032.
• Comprehensive Analysis of Growth Drivers: Offers a detailed evaluation of the key factors driving the growth of the Power Tools Market during the forecast period.
• Accurate Market Size and Share Estimates: Precise projections on the size and share of the Power Tools Market, underscoring its position within the larger market landscape.
• Forecasts on Emerging Trends and Consumer Behavior: Predicts future trends and shifts in consumer behavior relevant to the Power Tools Market.
• Regional Growth Analysis: Examines the growth of the Power Tools Market across key regions, including North America, Asia-Pacific (APAC), Europe, South America, the Middle East, and Africa.
• Competitive Landscape Overview: Detailed assessment of the competitive environment, offering insights into the key players within the Power Tools Market.
• Evaluation of Growth Barriers: Analyzes the challenges that may hinder the expansion of suppliers in the Power Tools Market.

Regional Atributes:

• North America (By Mode of Operation, Tool Type, Application, and Country)
  • U.S. (By Mode of Operation)
  • Canada (By Mode of Operation)
• Europe (By Mode of Operation, Tool Type, Application, and Country)
  • Germany (By Mode of Operation)
  • U.K. (By Mode of Operation)
  • France (By Mode of Operation)
  • Rest of Europe
• Asia Pacific (By Mode of Operation, Tool Type, Application, and Country)
  • China (By Mode of Operation)
  • India (By Mode of Operation)
  • Japan (By Mode of Operation)
  • Southeast Asia (By Mode of Operation)
  • Rest of Asia Pacific
• Middle East & Africa (By Mode of Operation, Tool Type, Application, and Country)
  • South Africa (By Mode of Operation)
  • GCC (By Mode of Operation)
  • Rest of the Middle East & Africa
• Latin America (By Mode of Operation, Tool Type, Application, and Country)
  • Brazil (By Mode of Operation)
  • Mexico (By Mode of Operation)
  • Rest of Latin America

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Power Tools Market Drivers and restrains:

• Driver: Growing DIY and Home Improvement TrendsThe increasing popularity of DIY projects and home improvement activities boosts the demand for power tools, as consumers seek reliable tools for various tasks around the home.
• Driver: Advancements in Power Tool TechnologyTechnological innovations, such as improved battery life, cordless designs, and enhanced safety features, drive market growth by offering greater convenience and efficiency for users.
• Driver: Expansion in Construction and Manufacturing SectorsThe growth of the construction and manufacturing industries increases the demand for power tools, which are essential for efficient and precise work in these sectors.
• Restraint: High Initial CostsThe significant upfront investment required for purchasing high-quality power tools can be a barrier for some consumers and small businesses, affecting overall market penetration.
• Restraint: Maintenance and Repair CostsOngoing maintenance and potential repair costs for power tools can impact the total cost of ownership, posing a challenge for users who may be concerned about long-term expenses.

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