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The global power tools market was valued at US$31.816 billion in 2018 and is projected to expand at a CAGR of 4.01% over the forecast period to reach US$40.292 billion by 2024. Rising global construction and infrastructure activities, steady growth in automotive sector and growing demand for home improved products are the key factors that are driving the growth of power tools market.
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Power Tools Market Forecast From 2019 to 2024
DESCRIPTION As per the latest reports by Knowledge Sourcing Intelligence, The global power tools market was valued at US$31.816 billion in 2018 and is projected to expand at a CAGR of 4.01% over the forecast period to reach US$40.292 billion by 2024. A power tool is a device or machine powered by an additional source or mechanism other than human body. Urbanization has played a significant role in the increased use of power tools and machinery in order to reduce human effort and simplify work for people. With the advancement in smart technologies and development of low-cost, energy efficient tools, its usage has increased to such an extent that now it is used everywhere- be it in Houses, Gardens, Garages, Construction sites and etc. Rising global construction and infrastructure activities, steady growth in automotive sector and growing demand for home improved products are the key factors that are driving the growth of Power Tools Market.
Key Questions Answered By The Report • What will be Power Tools Marketfrom 2019 to 2024? • How are the major drivers and restraints affecting the Power ToolsMarket? • growth and the opportunities which exist for key vendors? • Which segment and region will drive or lead the market growth and why? • A comprehensive analysis of competitive landscape and key market participant’s behavior • Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth
Segments Covered Under Power Tools Market are : • By Technology • Electric • Pneumatic • Engine Driven • Others • By End User • Non-Residential • Residential
Geography • North America • United States • Canada • Mexico • South America • Brazil • Argentina • Others • Europe • Germany • France • Italy • United Kingdom • Others
Geography • Middle East and Africa • Israel • Saudi Arabia • UAE • Others • Asia Pacific • Japan • China • India • Australia • South Korea • Others
COMPANY PROFILES • Emerson • Stanley Black & Decker, Inc. • Hitachi Koki Co., Ltd. • OTTO BAIER GmbH • Techtronic Industries Co. Ltd. • Robert Bosch Tool Corporation • Hilti • Makita Corporation • Atlas Copco • Illinois Tool Works Inc. • Apex Tool Group, LLC • Snap-on Incorporated • Ingersoll-Rand Plc • Panasonic Electric Works Europe AG • Positec Tool Corporation • Milwaukee Electric Tool Corporation • 3M
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