Power Tools Market by Mode of Operation, Tool Type and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027

The global power tools market was valued at $32,664.0 million in 2019, and is projected to reach $48,677.0 million by 2027, registering a CAGR of 4.8% from 2020 to 2027. Power tools are mechanical devices that work on dissimilar power sources, such as battery, compressed air, or electricity. Different types of power tools comprise hydraulic presses, handheld machine drills, and gas tools, which are utilized for diverse applications including assembly, production, and maintenance operations.

Factors such as growth in industrialization, upsurge in housing spending, and rise in urbanization is expected to cater to the growth of the global power tools market. In addition, there has been an increase in demand for power tools in do-it-yourself (DIY) techniques amongst household users. The acceptance of DIY techniques has led to market growth owing to augmented demand for battery-operated power tools, modifications in consumer lifestyle, and increase in disposable income of people. Further, greater demand for lithium-ion batteries as compared to nickel–cadmium batteries, due to the innovative cordless battery technology has garnered the adoption of cordless tools.

Strict governing norms for producing cordless power tools and declining prices of electric power tools stimulates the growth of the global power tools market. For instance, from December 2016, the European Union (EU) planned to prohibit the use of cadmium, a toxic substance in cordless power tools due to the leakage of cadmium from nickel-cadmium batteries. Such laws by governments are expected to intensify the demand for cordless power tools, as lithium-ion batteries are lightweight and cost-effective. However, uneven economic situation across the globe and high maintenance cost of power tools are projected to impede market growth.

The global power tools market is segmented on the basis of mode of operation, tool type, application, and region. By mode of operation, the market is divided into electric (corded and cordless electric power tools), pneumatic, and others. The electric power tools segment is expected to dominate the market throughout the study period. On the basis of tool type, the global power tools market is categorized into drills, wrenches, material removal tool, saws, and others. The drills segment is anticipated to dominate the market during the forecast period.

By application, the global power tools market is bifurcated into industrial (construction, automotive, aerospace, and others) and do-it-yourself (DIY). The DIY segment is expected to exhibit highest growth rate during the forecast period. Region wise, the global power tools market has been analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific is anticipated to hold the largest market share throughout the study period.

COMPETITION ANALYSIS

The major players profiled in power tools market report include Atlas Copco AB, Emerson Electric Co., Hilti Corporation, Ingersoll-Rand plc, Koki Holdings Co., Ltd., Makita Corporation, Robert Bosch GmbH, Snap-on Incorporated, Stanley Black & Decker Inc., and Techtronic Industries Co. Ltd. Key players have introduced a varied range of power tools owing to rise in demand from manufacturing and construction industries. Product launch is one of the widely adopted strategies by the key market players. For instance, in August 2019, Milwaukee Tools, a brand of TTI, launched Milwaukee’s new M12 FUEL Installation Drill/Driver. The tool is developed especially for installations in construction and for MEP contractors. It features four-in-one solution functionality and delivers up to 300 in-lbs. maximum torque.

KEY BENEFITS FOR STAKEHOLDERS

The report provides an extensive analysis of the current and emerging power tools market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2019 and 2027.
Extensive analysis of the power tools market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global power tools market forecast from 2020 to 2027 is included in the report.
The key market players within power tools market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the power tools industry.

GLOBAL POWER TOOLS MARKET SEGMENTS
BY MODE OF OPERATION

Electric
Corded Power Tools
Cordless Power Tools
Pneumatic
Others

BY TOOL TYPE

Drills
Saws
Wrenches
Material Removal Tool
Others

BY APPLICATION

Industrial
Construction
Automotive
Aerospace
Others
Do-It-Yourself (DIY)

BY REGION

North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

KEY PLAYERS

Atlas Copco AB
Emerson Electric Co.
Hilti Corporation
Ingersoll-Rand plc.
Koki Holdings Co., Ltd.
Makita Corporation
Robert Bosch GmbH
Snap-on Incorporated
Stanley Black & Decker Inc.
Techtronic Industries Co. Ltd.

Frequently Asked Questions about the Global Power Tools Market

What is the estimated value of the Global Power Tools Market?

The Global Power Tools Market was estimated to be valued at $32664 million in 2019.

What is the growth rate of the Global Power Tools Market?

The growth rate of the Global Power Tools Market is 5.1%, with an estimated value of $48677 million by 2027.

What is the forecasted size of the Global Power Tools Market?

The Global Power Tools Market is estimated to be worth $48677 million by 2027.

Who are the key companies in the Global Power Tools Market?

Key companies in the Global Power Tools Market include Atlas Copco AB, Emerson Electric Co., Hilti Corporation, Ingersoll, Rand plc, Koki Holdings Co. Ltd., Makita Corporation, Robert Bosch GmbH, Snap and on Incorporated.

Report Attribute	Details
No. of Pages	294
Published	April 2020
Forecast Period	2019 - 2027
Estimated Market Value ( USD ) in 2019	$ 32664 million
Forecasted Market Value ( USD ) by 2027	$ 48677 million
Compound Annual Growth Rate	5.1%
Regions Covered	Global
No. of Companies Mentioned	10

Chapter 1: Introduction

1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Key Market Players
1.5. Research Methodology
1.5.1. Primary Research
1.5.2. Secondary Research
1.5.3. Analyst Tools and Models

Chapter 2: Executive Summary

2.1. Key Findings of the Power Tools Market:
2.2. Cxo Perspective

Chapter 3: Market Overview

3.1. Market Definition and Scope
3.2. Key Forces Shaping Power Tools Industry
3.3. Key Findings
3.3.1. Global Power Tools Market Share Analysis 2018
3.3.2. Top Investment Pockets
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Growing Adoption of Power Tools in the Construction Industry
3.4.1.2. Integration of Brushless Motors in Electric Power Tools
3.4.1.3. Rapid Industrialization Coupled With Increase in Infrastructural Spending
3.4.1.4. Growth in Popularity of Energy-Efficient Power Tools
3.4.2. Restraints
3.4.2.1. High Purchase Costs of the Electric Power Tools
3.4.2.2. High Cost of Hydraulic Cylinders as Compared to Pneumatic Cylinders
3.4.3. Opportunities
3.4.3.1. Technological Innovations
3.4.3.2. Surge in Demand for Material Handling Equipment

Chapter 4: Power Tools Market, by Mode of Operation

4.1. Market Overview
4.1.1. Market Size and Forecast, by Mode of Operation
4.2. Electric
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.1.1. Corded Power Tools
4.2.1.1.1. Key Market Trends, Growth Factors, and Opportunities
4.2.1.2. Cordless Power Tools
4.2.1.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast, by Type
4.2.3. Market Size and Forecast, by Region
4.2.4. Market Analysis, by Country
4.3. Pneumatic
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Analysis, by Country
4.4. Others
4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast, by Region
4.4.3. Market Analysis, by Country

Chapter 5: Power Tools Market, by Tool Type

5.1. Market Overview
5.1.1. Market Size and Forecast, by Tool Type
5.2. Drills
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast, by Region
5.2.3. Market Analysis, by Country
5.3. Material Removal Tool
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast, by Region
5.3.3. Market Analysis, by Country
5.4. Saws
5.4.1. Key Market Trends, Growth Factors, and Opportunities
5.4.2. Market Size and Forecast, by Region
5.4.3. Market Analysis, by Country
5.5. Wrenches
5.5.1. Key Market Trends, Growth Factors, and Opportunities
5.5.2. Market Size and Forecast, by Region
5.5.3. Market Analysis, by Country
5.6. Others
5.6.1. Key Market Trends, Growth Factors, and Opportunities
5.6.2. Market Size and Forecast, by Region
5.6.3. Market Analysis, by Country

Chapter 6: Power Tools Market, by Application

6.1. Market Overview
6.1.1. Market Size and Forecast, by Application
6.2. Industrial
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.1.1. Construction
6.2.1.1.1. Key Market Trends, Growth Factors, and Opportunities
6.2.1.2. Automotive
6.2.1.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.1.3. Aerospace
6.2.1.3.1. Key Market Trends, Growth Factors, and Opportunities
6.2.1.4. Others
6.2.1.4.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast, by Sector
6.2.3. Market Size and Forecast, by Region
6.2.4. Market Analysis, by Country
6.3. Do-It-Yourself (Diy)
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast, by Region
6.3.3. Market Analysis, by Country

Chapter 7: Power Tools Market, by Region

7.1. Market Overview
7.1.1. Market Size and Forecast, by Region
7.2. North America
7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. Market Size and Forecast, by Mode of Operation
7.2.3. Market Size and Forecast, by Tool Type
7.2.4. Market Size and Forecast, by Application
7.2.5. Market Size and Forecast, by Country
7.2.5.1. U. S.
7.2.5.1.1. U. S. Market Size and Forecast, by Mode of Operation
7.2.5.1.2. U. S. Market Size and Forecast, by Tool Type
7.2.5.1.3. U. S. Market Size and Forecast, by Application
7.2.5.2. Canada
7.2.5.2.1. Canada Market Size and Forecast, by Mode of Operation
7.2.5.2.2. Canada Market Size and Forecast, by Tool Type
7.2.5.2.3. Canada Market Size and Forecast, by Application
7.2.5.3. Mexico
7.2.5.3.1. Mexico Market Size and Forecast, by Mode of Operation
7.2.5.3.2. Mexico Market Size and Forecast, by Tool Type
7.2.5.3.3. Mexico Market Size and Forecast, by Application
7.3. Europe
7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Europe Market Size and Forecast, by Mode of Operation
7.3.3. Europe Market Size and Forecast, by Tool Type
7.3.4. Europe Market Size and Forecast, by Application
7.3.5. Europe Market Size and Forecast, by Country
7.3.5.1. Germany
7.3.5.1.1. Germany Market Size and Forecast, by Mode of Operation
7.3.5.1.2. Germany Market Size and Forecast, by Tool Type
7.3.5.1.3. Germany Market Size and Forecast, by Application
7.3.5.2. France
7.3.5.2.1. France Market Size and Forecast, by Mode of Operation
7.3.5.2.2. France Market Size and Forecast, by Tool Type
7.3.5.2.3. France Market Size and Forecast, by Application
7.3.5.3. The UK
7.3.5.3.1. The UK Market Size and Forecast, by Mode of Operation
7.3.5.3.2. The UK Market Size and Forecast, by Tool Type
7.3.5.3.3. The UK Market Size and Forecast, by Application
7.3.5.4. Italy
7.3.5.4.1. Italy Market Size and Forecast, by Mode of Operation
7.3.5.4.2. Italy Market Size and Forecast, by Tool Type
7.3.5.4.3. Italy Market Size and Forecast, by Application
7.3.5.5. Russia
7.3.5.5.1. Russia Market Size and Forecast, by Mode of Operation
7.3.5.5.2. Russia Market Size and Forecast, by Tool Type
7.3.5.5.3. Russia Market Size and Forecast, by Application
7.3.5.6. Rest of Europe
7.3.5.6.1. Rest of Europe Market Size and Forecast, by Mode of Operation
7.3.5.6.2. Rest of Europe Market Size and Forecast, by Tool Type
7.3.5.6.3. Rest of Europe Market Size and Forecast, by Application
7.4. Asia-Pacific
7.4.1. Key Market Trends, Growth Factors, and Opportunities
7.4.2. Asia-Pacific Market Size and Forecast, by Mode of Operation
7.4.3. Asia-Pacific Market Size and Forecast, by Tool Type
7.4.4. Asia-Pacific Market Size and Forecast, by Application
7.4.5. Asia-Pacific Market Size and Forecast, by Country
7.4.5.1. China
7.4.5.1.1. China Market Size and Forecast, by Mode of Operation
7.4.5.1.2. China Market Size and Forecast, by Tool Type
7.4.5.1.3. China Market Size and Forecast, by Application
7.4.5.2. India
7.4.5.2.1. India Market Size and Forecast, by Mode of Operation
7.4.5.2.2. India Market Size and Forecast, by Tool Type
7.4.5.2.3. India Market Size and Forecast, by Application
7.4.5.3. Japan
7.4.5.3.1. Japan Market Size and Forecast, by Mode of Operation
7.4.5.3.2. Japan Market Size and Forecast, by Tool Type
7.4.5.3.3. Japan Market Size and Forecast, by Application
7.4.5.4. Rest of Asia-Pacific
7.4.5.4.1. Rest of Asia-Pacific Market Size and Forecast, by Mode of Operation
7.4.5.4.2. Rest of Asia-Pacific Market Size and Forecast, by Tool Type
7.4.5.4.3. Rest of Asia-Pacific Market Size and Forecast, by Application
7.5. LAMEA
7.5.1. Key Market Trends, Growth Factors, and Opportunities
7.5.2. LAMEA Market Size and Forecast, by Mode of Operation
7.5.3. LAMEA Market Size and Forecast, by Tool Type
7.5.4. LAMEA Market Size and Forecast, by Application
7.5.5. LAMEA Market Size and Forecast, by Country
7.5.5.1. Latin America
7.5.5.1.1. Latin America Market Size and Forecast, by Mode of Operation
7.5.5.1.2. Latin America Market Size and Forecast, by Tool Type
7.5.5.1.3. Latin America Market Size and Forecast, by Application
7.5.5.2. Middle East
7.5.5.2.1. Middle East Market Size and Forecast, by Mode of Operation
7.5.5.2.2. Middle East Market Size and Forecast, by Tool Type
7.5.5.2.3. Middle East Market Size and Forecast, by Application
7.5.5.3. Africa
7.5.5.3.1. Africa Market Size and Forecast, by Mode of Operation
7.5.5.3.2. Africa Market Size and Forecast, by Tool Type
7.5.5.3.3. Africa Market Size and Forecast, by Application

Chapter 8: Competitive Landscape

8.1. Introduction
8.1.1. Market Player Positioning, 2018
8.2. Top Winning Strategies
8.2.1. Top Winning Strategies, by Year
8.2.2. Top Winning Strategies, by Development
8.2.3. Top Winning Strategies, by Company
8.3. Competitive Dashboard
8.4. Key Developments
8.4.1. New Product Launches
8.4.2. Product Developments
8.4.3. Business Expansion

Chapter 9: Company Profiles

9.1. Atlas Copco Ab
9.1.1. Company Overview
9.1.2. Key Executives
9.1.3. Company Snapshot
9.1.4. Operating Business Segments
9.1.5. Product Portfolio
9.1.6. Research and Development Expenses
9.1.7. Business Performance
9.2. Emerson Electric Co.
9.2.1. Company Overview
9.2.2. Key Executive
9.2.3. Company Snapshot
9.2.4. Operating Business Segments
9.2.5. Product Portfolio
9.2.6. Research and Development Expenses
9.2.7. Business Performance
9.2.8. Key Strategic Moves and Developments
9.3. Hilti Corporation
9.3.1. Company Overview
9.3.2. Key Executives
9.3.3. Company Snapshot
9.3.4. Product Portfolio
9.3.5. R&D Expenditure
9.3.6. Business Performance
9.3.7. Key Strategic Moves and Developments
9.4. Ingersoll-Rand plc
9.4.1. Company Overview
9.4.2. Key Executives
9.4.3. Company Snapshot
9.4.4. Operating Business Segments
9.4.5. Product Portfolio
9.4.6. Research and Development Expenses
9.4.7. Business Performance
9.4.8. Key Strategic Moves and Developments
9.5. Koki Holdings Co. Ltd.
9.5.1. Company Overview
9.5.2. Key Executives
9.5.3. Company Snapshot
9.5.4. Product Portfolio
9.5.5. Product Portfolio
9.5.6. Business Performance
9.6. Makita Corporation
9.6.1. Company Overview
9.6.2. Key Executives
9.6.3. Company Snapshot
9.6.4. Product Portfolio
9.6.5. R&D Expenditure
9.6.6. Business Performance
9.6.7. Key Strategic Moves and Developments
9.7. Robert Bosch GmbH
9.7.1. Company Overview
9.7.2. Key Executives
9.7.3. Company Snapshot
9.7.4. Product Portfolio
9.7.5. R&D Expenditure
9.7.6. Business Performance
9.7.7. Key Strategic Moves and Developments
9.8. Snap-On Incorporated
9.8.1. Company Overview
9.8.2. Key Executives
9.8.3. Company Snapshot
9.8.4. Operating Business Segments
9.8.5. Product Portfolio
9.8.6. Research and Development Expenses
9.8.7. Business Performance
9.9. Stanley Black & Decker, Inc.
9.9.1. Company Overview
9.9.2. Key Executives
9.9.3. Company Snapshot
9.9.4. Product Portfolio
9.9.5. R&D Expenditure
9.9.6. Business Performance
9.9.7. Key Strategic Moves and Developments
9.10. Techtronic Industries Company Limited
9.10.1. Company Overview
9.10.2. Key Executives
9.10.3. Company Snapshot
9.10.4. Product Portfolio
9.10.5. R&D Expenditure
9.10.6. Business Performance
9.10.7. Key Strategic Moves and Developments

Executive Summary

According to the report titled, 'Power Tools Market by Mode of Operation, Tool Type, and Application: Opportunity Analysis and Industry Forecast, 2020-2027', the global power tools market size was $32.7 billion in 2019, and is projected to reach $48.7 billion by 2027, registering a CAGR of 4.8% from 2020 to 2027. The market growth is attributed to the rise in adoption of power tools in professional and personal application. Industrial and do-it-yourself (DIY) sectors are the two major applications of power tools. The industrial sector accounts for the maximum share in the global market, owing to the dominant use of power tools for process automation in the construction and automotive industries. The industrial segment is estimated to generate around three-fifths share of the global power tools market during the forecast period.

Power tools have varied applications in non-residential and residential sectors. There has been a growth in theapplication of power tools,which is facilitated by work efficiency attained through the use of advanced sensors to analyze and execute tasks with minimum errors. There is an increase in thedevelopment of the global power tools market, due to boost in trend of automation empoweringgreater returns on investments (ROI) and cost optimization. The consumption of power tools streamlines human work by reducing the load of repetitive tasks and by lessening the chances of human injury &errors. Advancement of smart technologies, high costs of labor, and introduction of energy-efficient &low-cost power tools lifts the development of the global power tools market. Conversely, the decline of the automotive industry in Asia-Pacific and distresses for human safety limitsthe growth of the power tools market.

Electric power tools are mostly utilized in different end-user industries such as construction, automotive,logistics, and security sectors. A rise in use of pneumatic power tools in commercial industries,which includes automotive and construction haveenhanced the share and demand for pneumatic power tools in the global market. The pneumatic power tools segment is projected to surge at a CAGR of 3.6% throughout the study period.

Asia-Pacific was the foremost geographical market for the global power tools market in 2019. This is due to the large demand for power tools in countries such as China and Indiadue to presence of large number of automobile and construction companies.

Key Findings Of The Study

The report provides an extensive analysis of the current and emerging power tools markettrends and dynamics.
Depending on application, the industrialsegment dominated thepower toolsmarket in 2019 and DIY segmentis projected to grow at a CAGR 5.2%during the forecast period.
By mode of operation, theelectric power toolssegment led the power tools market in 2019.
On the basis of tool type, the drills segment held the largest global power tools market share in 2019.
LAMEA is projected to register the highest growth rate in the coming years.
The key players within the power toolsmarket are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the power tools industry.
The report provides an extensive analysis of thepower tools markettrends and emerging opportunities of the market.
In-depthpower toolsmarket analysis is conducted by constructing estimations for the key segments between 2019 and 2027.
The global power toolsmarket forecast analysis from 2020 to 2027 is included in the report.

The key players profiled in the global power tools market report include Atlas Copco AB, Emerson Electric Co., Hilti Corporation, Ingersoll-Rand plc, Koki Holdings Co., Ltd., Makita Corporation, Robert Bosch GmbH, Snap-on Incorporated, Stanley Black & Decker Inc., and Techtronic Industries Co. Ltd. Key playersare constantly focusing on launch of new products and discover innovative technologies to sustain the growing customer demands. A substantial rise in spending for R&D activities in wireless technology corporations simplifies product improvement and innovation of customized solutions.

Companies Mentioned

Atlas Copco AB
Emerson Electric Co.
Hilti Corporation
Ingersoll-Rand plc
Koki Holdings Co. Ltd.
Makita Corporation
Robert Bosch GmbH
Snap-on Incorporated
Stanley Black & Decker Inc.
Techtronic Industries Co. Ltd

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
Scientific and technical writings for product information and related preemptions
Regional government and statistical databases for macro analysis
Authentic news articles and other related releases for market evaluation
Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

LOADING...