Power Tools Market: Growth Trends and Size Projections for 2024

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.

Request free sample pdf|https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/101444

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 Companies 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.)

Get quote|https://www.fortunebusinessinsights.com/enquiry/get-a-quote/101444

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:

The present state of the market, trends, growth areas, and competitive dynamics in the power tools market are all thoroughly examined in this report. It helps companies to see areas for expansion and improvement while pointing out possible difficulties and dangers. The report’s evaluation of product portfolios and business segments helps stakeholders make better-informed investments and market strategies.

Developing successful success strategies in the power tools market can be facilitated and decision-making greatly enhanced by having a solid understanding of the industry dynamics described in the report. All things considered, this report is a great resource for anyone looking for in-depth knowledge about this quickly evolving industry.

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.

Ask for Customization Report|https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/101444

About Us:

Fortune Business Insights is dedicated to providing clients worldwide with a unique combination of qualitative and quantitative market research reports. We assist both international and domestic businesses in optimizing their operations by providing comprehensive market insights and accurate forecasts. Our reports cover all critical aspects of the market, providing valuable insights and projections to clients around the world.

Email|[email protected]

FAQ’s:

• How big will the power tools market market be in 2024?
• Who are the main important figures that this report identifies?
• Which are the main forces behind the power tools industry?
• What are the power tools industry’s projected futures?