The global power tool market is expected to reach US $ 43,278.3 million in 2027

Press Release Distributor: Astute Analytica According to a report published by ASTUTE ANALYTICA dated March 3, 2022, the industrial sector is expected to occupy the largest market share due to increasing demand for power tools in various industries. The global power tool market is projected to reach US $ 43,278.3 million in 2027. In addition, the compound annual growth rate during the forecast period is forecast to be 5.2%. Request to confirm the scope of the report: https://www.astuteanalytica.com/request-sample/power-tools-market In addition, tools operated by power sources and mechanisms are power tools. Common types of power tools include electric motors, internal combustion engines, and compressed air. The power tool market is largely driven by the growing use of power tools in the construction industry and the growing adoption of cordless power tools worldwide. Despite the driving forces, high maintenance costs and volatile raw material prices are expected to have a negative impact on market growth. This is because regular readjustments are required for the efficient operation of power tools. Compliance with regulations and the safety of power tools are also expected to be issues for market growth. Growth Factors Expanding the use of power tools in the construction industry Also, the increasing adoption of power tools in the construction industry is expected to boost demand for power tools during the forecast period. This is because power tools help reduce the time it takes to perform redundant tasks. It also helps improve efficiency. In addition, the increasing use of sanders, wrenches, drills, etc. in the construction industry is expected to boost market growth. In addition, the rapid expansion of the global construction industry is estimated to drive the growth of the market. The adoption of cordless power tools is increasing worldwide. Cordless power tools use batteries such as round saws, hammer drills and impact wrenches. Includes various tools to do. It also includes staplers and nail guns. In addition, increasing demand for more flexible and compact mobile tools is expected to drive market growth. Furthermore, advances in battery technology are expected to advance the adoption of cordless power tools equipped with high-density, long-life batteries. In addition, consumers' appeal to cordless tools is also motivating market participants to focus on cordless power tools and is expected to boost market growth. Market segmentation The global market for power tools is divided into tool types, operating modes, and applications. Drilling / fixing tools by tool type Drill driver and nut Runner wrench driver Dismantling tool Dismantling hammer Hammer Drill breaker Rotary hammer Other saws / cutting tools Round saw Jig saw Multi-cutter saw Chop saw Band saw Recipo saw Scissors / Nibler Material removal tool Grinding machine Die・ Straight grinder Angle grinder Rotary file Bench grinder Pencil grinder Thunder polisher ・ Buffer routing tool Router / planer joiner air tool air hose air hammer air scaler Others The drill and fastener tool division is expected to have the largest share of 28% or more. Of the drilling and fixing tools, the drill sector is expected to grow by 4.8%. In the dismantling tools sector, the breaker sector is projected to grow at an annual rate of 5%. The pneumatic power tool sector is expected to have the fastest growth rate of 6.1% during the forecast period. Industrial Construction by Application Aerospace Energy Shipbuilding Metalworking and other industrial housing-related Industrial fields are expected to occupy the largest market share due to increasing demand for power tools in various industries. This area includes industries such as construction, automobiles and energy. The energy sector is expected to grow at a compound annual growth rate of 5.9%. The housing sector is projected to grow at the fastest rate during the forecast period. By operation mode. The electric corded cordless pneumatic hydraulic electrical sector is expected to have the largest market share due to technological advances related to the sector. The pneumatics sector is expected to grow at the fastest rate of 6.5% during the forecast period. Regional Analysis By region, the global power tool market is divided into North America, Europe, Asia Pacific, the Middle East / Africa, and South America. The North American region is the largest market, accounting for about 31% of the global market due to increased industrial development and infrastructure development in the United States and Canada. The Asia Pacific region is expected to record the fastest growth rate of 6.8% during the forecast period. This is due to the rapid development of the region's automobile industry. India and China have the highest growth rates. Competitor Analysis The major companies operating in the global power tool market are 3M, ANDREAS STIHL AG & Co. KG, APEX Tool Group, LLC, Atlas Copco AB, C. & E. FEIN GmbH, Delta. Power Equipment Corporation, Emerson Electric Co., Enerpac Tool Group, Ferm International BV, Festool GmbH, Hilti Corporation, Husqvarna AB, Ingersoll-Rand, Interskol, KOKI Holdings Co. Ltd., Kyocera Co., Ltd., Makita Co., Ltd., Panasonic Co., Ltd. , Robert Bosch GmbH, Snap-On, Stanley, Black & Decker, Inc, Techtronic Industries (TTI), Positec Tool Group, Uryu Seiki Co., Ltd., CS Unitec, Fortive Corporation, etc. The five major companies account for about 75% of the market share. These players engage in M ​​& A, product launches, collaborations and more. For example, in June 2021, Atlas Copco acquired Airflow Compressors & Pneumatics Ltd (Airflow), a UK-based compressed air distributor and service provider. The acquisition strengthened the company's presence in the United Kingdom. Read more: https://www.astuteanalytica.com/industry-report/power-tools-market About us: Astute Analytica is a global analytics and advisory company, based on the concrete results we have provided to our customers. , Has gained a solid reputation in a short period of time. We take pride in creating unparalleled deep and accurate quotes and forecasts for the most demanding customers of various industries. We have a list of customers who are satisfied and repeatable in various fields such as technology, healthcare, chemistry, semiconductors and FMCG. These customers visit us from all over the world. The reason is that we are analyzing complex business environments, existing and new possibilities by segment, technology formation, growth forecasts, and even available strategic options. In short, it's a complete package. It is an excellent and top priority, consisting of business analysts, economists, consultants and technology experts.If you decide to work with us, go to PR TIMES Top for the details of the cost-effective, value-added top company press release

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