Power Tools market is analysed considering industry experts, to help produce maximum returns-on-investment as it provides clarity required to make informed business decisions. This research will help both established and new entrants to identify and analyse the market need, market size and competition. It explains supply and demand situation, competitive scenario, challenges to market growth, market opportunities and threats faced by the key vendors. Industry experts project Power Tools market to grow at a CAGR of 4.77% during the period 2017-2021.
Power tools are mechanical or electromechanical equipment that draw electricity from an external power source, without the application of manual labor to achieve a specific action. Power tools are commonly used in the construction and manufacturing industries to perform activities such as drilling, sawing, grinding, screwing, and cutting. However, application areas for power tools are diverse and wide, depending on the end-user and the industry. Power tools are used to increase the efficiency of manual operations, thereby increasing worker productivity and saving time. There are also several end-user applications that require the use of customized power tools to perform specific tasks.
Firstly, the Power Tools market research report provides a basic overview of the industry including definitions, market status and industry chain structure. The Power Tools market analysis is provided for the international market including development history, competitive landscape analysis, and major regions’ development status. What’s more, the Power Tools industry development trends and growth patterns are analyzed.
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Power Tools market potential is analysed for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, demand and present scenarios in Power Tools industry. To determine the Power Tools market size the report considers the sales revenue. Further the Power Tools market report focuses on global major leading industry players with information. Report contains vendor landscape in addition to a SWOT analysis of the key vendors operating in Power Tools market space like Apex Tool Group, Makita, Robert Bosch, Stanley Black & Decker, Techtronic Industries and many more.
Power Tools Market Drivers, Challenges and Trends: –
Power Tools Market Driver: – one of the major drivers for this market is Rise in global construction and infrastructure development activities. Power tools are most commonly used in the construction industry. These tools are essential to carry out construction operations such as cutting, drilling, and grinding. They are essentially support tools used to increase the efficiency and productivity of labor at construction sites. Therefore, any growth in the global construction activities will have a positive impact on the global power tools market.
Power Tools Market Challenge: – one of the major factors hindering the growth of this market is Volatility in prices of raw materials. The volatility in raw material prices may be a major challenge to vendors and manufacturers, as a number of players in the market start competing on the basis of pricing to sell their products, most of which are undifferentiated or generic power tools. The production of power tools involves the use of steel, copper, rubber, plastic, and other composites. Also, the motor inside most electric power tools constitutes magnets that are made of rare earth materials. Most of these raw materials are globally traded commodities, and their prices are prone to significant fluctuations, which may negatively impact power tool manufacturers due to a reduction in profit margins or sales caused by higher prices of power tools.
Power Tools Market trend: – “The latest trend gaining momentum in the market is Wireless battery charging technology. Cordless, battery-powered electric power tools have been available in the market for several years, but their adoption has been slow due to functional issues with battery operated tools, including long charge times and short duration of the operation. Most of the existing battery-powered power tools require the removal of the battery pack from the tool for charging. However, the rising number of complaints and feedback from end-users regarding the time consuming and cumbersome charging process has led to the development of wireless charging batteries for power tools. The adoption of this technology is expected to boost the market demand for cordless power tools.”
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MARKET SEGMENTATION BY TECHNOLOGY:- electric power tools market, pneumatic power tools market, engine-driven power tools and others market REGIONAL LANDSCAPE ; Geographic Segmentation: – Americas, APAC, EMEA
This Power Tools market research is result of
Qualitative analysis: – Market drivers, Market challenges, Market trends, Five forces analysis.
Quantitative analysis: – Market size and forecast, Market segmentation, Geographical insights, Competitive landscape.
Primary research: – Industry journals and periodicals, Government bodies, Annual reports of key stakeholders.
Secondary research: – Manufacturers/suppliers, Channel partners, Industry experts, Strategic decision makers.
Data synthesis: – Collation of data, Estimation of key figures, Analysis of derived insights.
Data validation: – Triangulation with data models, Reference against proprietary, databases, Corroboration with industry experts.