This report provides exclusive insights into the COVID-19 impact on the Power Tools Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Power Tools Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Power Tools Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
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
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.