A recent report published by Infinium Global Research on power tools market provides an in-depth analysis of segments and sub-segments in the global as well as regional power tools market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional power tools market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global power tools market. According to the report, the global power tools market is projected to grow at a CAGR of 4.83% over the forecast period of 2019-2025.
Power tools comprised of types such as portable and stationary power tools and that are powered by electricity. Power tools are available in multiple shapes and sizes and they are easy to operate. Different type of power tools such as drilling and fastening driving tools, demolition tools, sawing and cutting tools, material removal tools, and routing tools are used in various industries. Hammer drills, electric screwdriver, and fast screw guns are the most preferred power tools. Power tools have advantages over other tools such as high speed, more effective and high efficiency. Power tools are widely used in several industries such as construction, aerospace, automobile repair and maintenance, electronics industry. Power tools have many applications in commercial and home establishments.
The increasing demand for more efficient, more powerful, and smarter products are increasing the demand for power tools from the automotive and construction sector. The rise in middle-class income and the young population are resulting in the growth of the automotive manufacturing and maintenance industry. Automotive power tools are used to perform many high-strength tasks such as to drive larger screws into tougher materials and for cutting metal sheets in the automotive industry. In pursuit of sales growth, global automakers are heavily investing in power tools that drive the growth of the power tools market. In addition, the booming construction sector and the rising renovation and infrastructural developments across different countries of the globe are anticipated to boosts the sales of the power tools. Furthermore, the growing advancements in cordless power tools are expected to promote the growth of the power tools market. However, the high maintenance and increased complexity of the power tools hamper its market growth. Moreover, the integration of power tools in automation across various industries is anticipated to serve lucrative opportunities for the power tools market in the near future.
Among the regions, the North America region holds the largest share in the global power tools market. The increasing reconstruction industry coupled with rising automotive industry favors the growth of the power tools in the North America region. Additionally, the presence of several power tool manufacturers such as Stanley Black & Decker, Inc., Apex Tool Group, and Delta Power Equipment Corporation contribute to the revenue of the North America power tools market. The growing infrastructural developments in several Asian countries such as China, India, and Malaysia drives the growth of the Asia Pacific power tools market.
The report on global power tools market covers segments such as mode of operation, tool type, and applications. On the basis of mode of operation, the sub-markets include electric power tools, pneumatic power tools, and other mode of operations. On the basis of tool type, the sub-markets include drilling and fastening/driving tools, demolition tools, sawing and cutting tools, material removal tools, routing tools, and other tool types. On the basis of applications, the sub-markets include industrial applications and residential applications.
The report provides profiles of the companies in the market such as 3D Systems Corporation, EnvisionTEC, Stratasys Ltd, Arcam AB, Cyfuse Biomedical K.K., Organovo Holdings, Inc., EOS GmbH, FabRx Ltd., Materialise NV, Concept Laser GmbH, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of power tools market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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