Power Tools market With Complete SWOT Analysis and Forecast to 2030

The Power Tools market report represents gathered information about a market within an industry or various industries. Power Tools market report includes analysis in terms of both quantitative and qualitative data with a forecast period of the report extending from 2024 to 2030. The market is prepared to take into consideration various factors such as Product pricing, Product or services penetration at both country and regional levels, Country GDP, market dynamics of parent market & child markets, End application industries, major players, consumer buying behavior, economic, political, social scenarios of countries, many others. The report is divided into various segments to offer a detailed analysis of the market from every possible aspect of the market.

Power Tools market size was estimated at USD 45.65 billion in 2023 and is projected to reach USD 80.44 billion in 2030 at a CAGR of 8.43% during the forecast period 2023-2030.

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Any equipment or gadget that draws energy from a source outside of itself, such as compressed air or electricity, is referred to as a power tool. Power tools are crucial in many sectors because they offer improved speed, strength, and efficiency compared to manual tools, which only rely on human labour. Power tools offer the durability, accuracy, and productivity required to finish a variety of jobs. Power tools increase productivity and professional outcomes on anything from building sites to workshops.

Due to their simplicity of use and portability, power tools are currently quite popular in residential applications. The popularity of DIY projects has increased demand for power tools among household users.

Delvens Industry Expert's Standpoint

The Power Tools market is expected to grow during the forecast period. This growth can be attributed to several factors. The demand for power tools is expected to increase in the future years as governments throughout the world start infrastructure development initiatives. During the forecast period, these measures are anticipated to fuel further expenditures in non-residential building projects, which in turn would fuel demand for power tools. However, the high cost for the moving parts and the fluctuating costs of raw materials might hamper the growth of the market during the forecast period.

Competitive Landscape:

• 3M

• Apex Tool Group

• Atlas Copco AB

• DeWalt

• Emerson Electric Co.

• Festool GmbH

• Hilti Corporation

• Hitachi

• Honeywell International Inc.

• Husqvarna AB

• Ingersoll Rand

• Koki Holding Co., Ltd.

• KYOCERA Corporation

• Makita Corporation

• Milwaukee Tool

• Robert Bosch GmbH

• Ryobi

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Regional Analysis

North America to Dominate the Market

North America is estimated to account for the largest market share during the forecast period because of the expanding industrial and infrastructural development within the region.

Moreover, the presence of key market players as well as the unavailability of cheap labour aids in the adoption of DIY jobs, thus, contributing to regional growth.

Recent Developments:

In June 2022, Schneider Electric announced collaboration with Hitachi Energy to facilitate decarbonization in the industrial and energy sectors. The companies decided to leverage Hitachi’s medium-voltage power tools and Schneider’s high voltage power tools to present a more comprehensive portfolio.

In October 2022, New 12V and 18V cordless orbital sanders from Bosch Power Tools were introduced. With this launch, users may get more accurate, precise, and individualized woodworking and wood cutting solutions with the 12V and 18V Cordless Orbit Sanders. This has aided the business in diversifying its product offering.

Reasons to Acquire:

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.

• Gain authentic and granular data access for the Power Tools Market to understand the trends and the factors involved in changing market situations.

• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.

• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

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In addition to the market data for the Power Tools Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.

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