Power Tools Market: Opportunities, Revenue Growth, and Key Drivers through 2024

The Power Tools Market sector is undergoing significant transformation, with substantial growth and technological advancements expected by 2032. According to a new in-depth market research report, the sector is poised for expansion, driven by various factors such as market size, share, and emerging trends.

This comprehensive report provides key insights into the Power Tools Market, exploring critical market segmentation and definitions. It highlights the essential components driving growth, offering a clear picture of the industry’s trajectory. Utilizing SWOT and PESTEL analyses, the report evaluates the market’s strengths, weaknesses, opportunities, and threats, while also considering political, economic, social, technological, environmental, and legal factors that impact the market landscape.

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Market Summary:

The global power tools market size was valued at USD 27.51 billion in 2023. The market is projected to grow from USD 28.52 billion in 2024 to USD 40.20 billion by 2032, exhibiting a CAGR of 4.4% during the forecast period.

Recent industry developments are;

• Makita UK extended its outdoor power tools segment with its advanced ‘XGT 40VMax machines’. It includes UR002G 40VMax Cutter and 40VMax Hedge Trimmer that are brushless.
• Makita Corporation introduced an advanced nailer named 18 Gauge 2” Brad Nailer (AF506). It is a battery-operated power tool with better ergonomics. It can be used on hard and soft wooden surfaces.
• Hilti Corporation announced an expansion of its rotary hammer segment and combination portfolio with an introduction ‘TE 70-ATC/AVR’, the powerful SDS-Max-Combination Hammer. The newly presented tool delivers ~40% sooner concrete drilling.
• Robert Bosch GmbH introduced cult screwdriver ‘Ixo Classic’ that is utilized for precise screwdriving on sensitive materials. 30% shorter charging time attributed to the electronic updates results in re-use of this tool within two hours.

Browse Detailed TOC, Tables and Figures with Charts which is spread across 100+ Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

Major Players:

Robert Bosch GmbH (Germany), Stanley, Black & Decker, Inc. (U.S.), Hilti Corporation (Liechtenstein), Atlas Copco AB (Sweden), Makita Corporation (Japan), Emerson Electric Co. (U.S.), Hitachi Koki Ltd. (Japan), Ingersoll Rand (U.S.), Techtronic Industries Co. Ltd. (Hong Kong), Enerpac Tool Group (U.S.)

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Power Tools Market Segmentation:

By Mode of Operation

• Electric
• Pneumatic
• Others (Hydraulic)

By Tool Type

• Drilling & Fastening Tools
• Material Removal Tools
• Sawing and Cutting tools
• Demolition Tools
• Others (Routing Tools)

By Application

• DIY
• Industrial
  • Manufacturing
  • Automotive
  • Construction
  • Energy
  • Others (Ship building)

Reasons to purchase this report:

This report offers a detailed analysis of the competitive landscape, emerging growth areas, market conditions, and key trends within the Power Tools Market. It helps businesses identify expansion opportunities while addressing potential risks and challenges. By assessing product portfolios and business segments, the report provides valuable insights that guide stakeholders in formulating informed investment and market strategies.

The in-depth understanding of industry dynamics presented in the report supports the creation of effective strategies for success in the Power Tools Market, greatly enhancing decision-making. Overall, this report is an essential resource for those looking to stay updated in this rapidly evolving industry.

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Drivers & Restraints:

• Drivers:
  • Increasing demand for efficient and time-saving tools in the construction and DIY sectors.
  • Technological advancements in battery and motor technologies enhancing the performance and portability of power tools.
• Restraints:
  • High initial costs associated with advanced power tools limiting adoption among small-scale users.
  • Safety concerns and the risk of accidents related to power tool usage impacting market growth.

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Power Tools Market Regional Segmentation:

• North America (By Mode of Operation, Tool Type, Application, and Country)
  • U.S. (By Mode of Operation)
  • Canada (By Mode of Operation)
• Europe (By Mode of Operation, Tool Type, Application, and Country)
  • Germany (By Mode of Operation)
  • U.K. (By Mode of Operation)
  • France (By Mode of Operation)
  • Rest of Europe
• Asia Pacific (By Mode of Operation, Tool Type, Application, and Country)
  • China (By Mode of Operation)
  • India (By Mode of Operation)
  • Japan (By Mode of Operation)
  • Southeast Asia (By Mode of Operation)
  • Rest of Asia Pacific
• Middle East & Africa (By Mode of Operation, Tool Type, Application, and Country)
  • South Africa (By Mode of Operation)
  • GCC (By Mode of Operation)
  • Rest of the Middle East & Africa
• Latin America (By Mode of Operation, Tool Type, Application, and Country)
  • Brazil (By Mode of Operation)
  • Mexico (By Mode of Operation)
  • Rest of Latin America

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