Power Tools Market

Power Tools Market by Mode (Electric (Corded & Cordless), Pneumatic), Tool Type (Drilling & Fastening, Sawing, Demolition, Material Removal), Application (Industrial (Construction, Automotive, Aerospace, Energy), DIY) - Global Forecast to 2024

Report Code: SE 5705 Aug, 2019, by marketsandmarkets.com
Updated date -

The global power tools market is projected to reach USD 41.7 billion by 2024 from USD 31.8 billion in 2019, at a CAGR of 5.5% during the forecast period.

The power tools industry is witnessing innovations in every aspect of tool design, ergonomics, efficiency and productivity, battery performance, and other connectivity technologies. Manufacturers are investing more in cordless power tools to better position themselves in a highly competitive power tools market.

Power Tools Market

Key Market Dynamics in Power Tools Market

Growing adoption of cordless power tools

Cordless power tools include a wide range of battery-powered tools, such as hammer drills, impact wrenches, and circular saws, as well as nailers and staplers. The demand for more mobile, flexible, and compact tools is driving the market for cordless tools. Lithium-ion batteries are replacing conventional nickel–cadmium (Ni-Cd) and nickel–metal hydride (Ni-MH) power tools. Advances in battery technology are contributing to the increasing adoption of cordless power tools with high-density batteries that can last longer once charged.

According to the European Power Tool Association (EPTA), in 2018, the cordless power tools segment accounted for ~50% of the power tools market and is the fastest-growing business segment in Europe. Lithium-ion batteries provide higher energy density and longer operational life to power tools. These batteries are lightweight and do not exhibit self-discharge. Therefore, lithium-ion batteries have become the most popular option for powering cordless power tools. Furthermore, with consumers’ attraction toward cordless tools, tool manufacturers are focusing on cordless power tools and launching innovative products in the power tools market.

High maintenance cost

Power tools, such as assembly tools, are precision instruments, requiring regular maintenance of its moving parts. Power tools are required to be recalibrated at regular intervals for precise operations. Motors, batteries, power connections, and other components of power tools wear out and fail over time. Regular maintenance, e.g., oiling, sharpening, and replacing parts, and other repairs, is required for proper working of tools, which, in turn, incurs high cost. Consumers, particularly in developing countries, are reluctant to spend on the maintenance of power tools due to the availability of low-cost manual labor.

Thus, the high cost of maintenance is restraining the growth of the power tools market. Also, the cost of ownership of power tools increases because of maintenance and repair requirements. Therefore, consumers in developing countries are leasing power tools, which is also hampering the growth of the market.

The power tools market for material removal tools to grow at a significant rate from 2019 to 2024.

Material removal tools such as grinders are used for abrasive cutting, grinding, and polishing applications. They are mostly used in metal fabrication shops, automotive worksites, and construction sites. Other material removal tools, such as belt sanders, delta sanders, and orbital sanders, are used in industrial and residential applications. Rising demand for material removal tools in industries such as automotive, motor vehicle, and aerospace is driving the growth of the power tools market.

The Power Tools market for electric-powered equipment to grow at a higher CAGR from 2019 to 2024.

Increasing demand for cordless electric power tools is driving market growth. Power tool manufacturers are focusing on producing cordless tools by launching cordless versions of electric power tools types. The growth of electric power tools is fueled by innovations in lithium-ion battery technology. The energy density of lithium-ion is typically twice than that of the standard nickel–cadmium. In addition, self-discharge in a lithium-ion battery is less than half when compared with nickel–cadmium when the tool is not in use.

Residential/DIY applications are likely to exhibit the highest growth in the power tools market during the forecast period.

One of the biggest trends in the power tools market is the growing trend of DIY culture. All advances in power tools have made easier for DIY enthusiasts to use power tools. This, along with the drop in the availability of professionals working on household jobs, and the availability of ergonomic, user-friendly power tools have stimulated growth in the do-it-yourself (DIY) market. Electric power tools are mostly used by DIY consumers for residential refurbishment and improvement projects.

Remodeling and renovation projects are growing at a faster rate than new construction projects. This is especially true in residential projects wherein there is heightened interest in remodeling and refurbishing existing homes rather than purchasing new ones among consumers. Therefore, the use of power tools by DIY enthusiasts for remodeling and renovation projects is driving the demand for power tools, especially in developed countries.

Power Tools Market

Power Tools Market in APAC to grow at fastest CAGR during forecast period”

APAC is the emerging market for power tools. The market in this region is expected to grow at the fastest rate during the forecast period. Rising urbanization, growing manufacturing industry, and increasing automotive sales in this region are the key factors fueling the growth of the market in APAC. China and India are the major countries in APAC that are witnessing significant growth in GDP. According to the Organization for Economic Cooperation and Development, India’s GDP growth will hover near 7.5% by 2020 compared with 7.25% in 2019.

However, China’s economy is expected to register 6% growth in 2020. Moreover, South Asia is witnessing significant demand for power tools. Owing to this, APAC is likely to be the fastest-growing market for power tools during the forecast period.

Key Market Players

As of 2018, Stanley Black & Decker (US), Techtronic Industries (Hong Kong), Robert Bosch (Germany), Makita Corporation (Japan), Hilti Corporation (Liechtenstein), Atlas Copco (Sweden), Apex Tool Group (US), Ingersoll-Rand (Ireland), KOKI Holdings (Japan), and Snap-on Incorporated (US) were the major players in the power tools market.

Stanley Black & Decker is a leading player in the power tools market. The company offers a diversified range of power tools for residential and industrial applications. The company has a well-balanced product portfolio comprising various brands. The company focuses on producing battery-powered cordless tools. In line with its strategy, the company launched several cordless power tools in 2018. The company dedicatedly works on providing innovative and advanced power tools. The company adopts product innovations and acquisitions as key strategies to foster sustainable revenue growth.

Techtronic Industries (TTI) has a diversified product portfolio pertaining to the power tools market. The company is continuously growing by being on the technology forefront with a cordless product portfolio. Its technological innovation capabilities in lithium battery technology, high performance brushless motors, and system electronics helped achieve about 17% revenue growth in 2018 in the Power Equipment, Accessories & Hand Tools business segment.

Robert Bosch has a diversified product portfolio, including cordless and corded power tools. The company heavily invests in R&D to offer innovative power tools in the market, especially in the fields of battery, sensor technology, and networking of power tools. In 2018, the company introduced a large number of intelligent power tools for professionals. The company has strong geographic footprint with manufacturing plants, sales offices, and distributors.

Scope of Report:

Report Metric

Details

Years considered for providing market size

2016–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD million/billion) and volume (million units)

Segments covered

Tool type, mode of operation, application (industrial & residential)

Regions covered

North America, APAC, Europe, and RoW

Companies covered

Stanley Black & Decker (US), Techtronic Industries (Hong Kong), Robert Bosch (Germany), Makita Corporation (Japan), Hilti Corporation (Liechtenstein), Atlas Copco (Sweden), Apex Tool Group (US), Ingersoll-Rand (Ireland), KOKI Holdings (Japan), and Snap-on Incorporated (US) are among the major players in the power tools market. A total of 25 companies are covered in this study.

In this report, the overall market has been segmented on the basis of tool type, mode of operation, application, and region.

Power Tools Market By Tool Type

  • Drilling and fastening tools
    • Drills
    • Impact drivers
    • Impact wrenches
    • Screwdrivers and nutrunners
  • Demolition tools
    • Rotary hammers/hammer drills/demolition hammers
  • Sawing and cutting tools
    • Jigsaws
    • Reciprocating saws
    • Circular saws
    • Band saws
    • Sheers and nibblers
  • Material removal tools
    • Sanders/polishers/buffers
    • Grinders
      • Angle grinders
      • Die and straight grinder
  • Routing Tools
    • Routers/planers/joiners
  • Others (measuring and layout tools, laser tools, dust extractors, glue guns, and heat guns)

By Mode of Operation

  • Electric
    • Corded
    • Cordless
  • Pneumatic
  • Others (Hydraulic and power-actuated)

By Application

  • Industrial
    • Construction
    • Automotive
    • Aerospace
    • Energy
    • Shipbuilding
    • Others
  • Residential/DIY

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Rest of the World (RoW)
    • South America
    • Middle East & Africa

 

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 21)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
                     Figure 1 Power Tools Market Segmentation
           1.3.2 Years Considered
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 25)
    2.1 Research Data
            Figure 2 Market: Research Design
           2.1.1 Secondary Data
                    2.1.1.1 List of Secondary Sources
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primary Interviews
                    2.1.2.2 Key Data From Primary Sources
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
                                Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
                                Figure 4 Market Size Estimation Methodology: Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
            Figure 5 Data Triangulation
    2.4 Research Assumptions
            Figure 6 Assumption of the Research Study

3 Executive Summary (Page No. - 34)
       Table 1 Power Tools Market, in Terms of Value and Volume, 2016–2024
       Figure 7 Drilling & Fastening Tools to Hold Largest Size of Market From 2019 to 2024
       Figure 8 Electric Tools to Dominate Market During Forecast Period
       Figure 9 Residential/Diy Application to Grow at Higher CAGR From 2019 to 2024
       Figure 10 Automotive to Grow at Highest CAGR From 2019 to 2024
       Figure 11 Market in APAC to Grow at Highest CAGR During Forecast Period

4 Premium Insights (Page No. - 41)
    4.1 Lucrative Opportunities in Market
       Figure 12 Attractive Opportunities in Market From 2019 to 2024
    4.2 Market, By Tool Type
       Figure 13 Market for Drilling and Fastening Tools to Grow at Highest CAGR During Forecast Period
    4.3 Market, By Application
       Figure 14 Industrial Application to Hold Larger Share of Market From 2019 to 2024
    4.4 Market in North America,  By Mode of Operation and Country
       Figure 15 US to Hold Largest Share of Market in North America During Forecast Period
    4.5 Market in APAC, By Industrial Application
       Figure 16 Construction to Dominate Market in APAC During Forecast Period
    4.6 Market, By Region
       Figure 17 North America to Hold Largest Size of Market During Forecast Period

5 Market Overview (Page No. - 44)
    5.1 Introduction
    5.2 Market Dynamics
             Figure 18 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Adoption of Cordless Power Tools
                    5.2.1.2 Increasing Sales of Commercial Vehicles
                                Figure 19 Commercial Vehicles Sales (2012–2017)
                    5.2.1.3 Rising Demand for Electric Fastening Tools in Industrial Environments
                    5.2.1.4 Growing Construction Industry in Emerging Countries
           5.2.2 Restraints
                    5.2.2.1 High Maintenance Cost
                    5.2.2.2 Raw Material Price Fluctuation
           5.2.3 Opportunities
                    5.2.3.1 Fastening Tools in Wind Energy Industry
                                Figure 20 Global Cumulative Installed Wind Capacity, 2011–2018
                    5.2.3.2 Smart Connectivity in Power Tools
                    5.2.3.3 Connected Power Tools for Industry 4.0
           5.2.4 Challenges
                    5.2.4.1 Designing Ergonomic and Lightweight Power Tools
                    5.2.4.2 Regulatory Compliance and Power Tool Safety

6 Industry Trends (Page No. - 49)
    6.1 Introduction
    6.2 Value Chain Analysis
            Figure 21 Market: Value Chain
           6.2.1 Research & Development Companies
           6.2.2 Component Suppliers
           6.2.3 Tool Manufacturers
           6.2.4 Distributors and Retailers
           6.2.5 End-User Industries
           6.2.6 Post-Sales Service Providers
    6.3 Key Trends in Market
           6.3.1 Shift From Corded to Cordless
           6.3.2 Connected Assembly Power Tools
           6.3.3 Brushless Dc Motors
           6.3.4 Lithium-Ion Batteries Replacing Ni-Cd and Ni-Mh
           6.3.5 Wireless Charging
           6.3.6 Growth in Diy Activities
           6.3.7 Design of Ergonomic and Powerful Power Tools
           6.3.8 Energy-Efficient Power Tools
    6.4 Power Tools Application, By Trade
           6.4.1 Concrete & Construction
           6.4.2 Woodworking
           6.4.3 Metalworking

7 Power Tools Market, By Tool Type (Page No. - 55)
    7.1 Introduction
            Figure 22 Market, By Tool Type
            Figure 23 Drilling and Fastening Tools to Hold Largest Size of Market During Forecast Period
            Table 2 Market, By Tool Type, 2016–2024 (USD Million)
    7.2 Drilling and Fastening Tools
           7.2.1 Drills
                    7.2.1.1 Electric Drills to Hold Major Market During Forecast Period
           7.2.2 Impact Drivers
                    7.2.2.1 Impact Drivers are Preferred By Professionals for Driving Applications
           7.2.3 Impact Wrenches
                    7.2.3.1 Automotive Industry is the Key End-User of Impact Wrenches
           7.2.4 Screwdrivers and Nutrunners
                    7.2.4.1 Nutrunners are Widely Used in Automotive and Aerospace Assembly Operations
                                 Figure 24 Electric Drilling and Fastening Tools to Dominate Market During Forecast Period
                                 Table 3 Market for Drilling and Fastening Tools, By Mode of Operation, 2016–2024 (USD Million)
    7.3 Demolition Tools
           7.3.1 Rotary Hammers/Hammer Drills/Demolition Hammers
                    7.3.1.1 Construction Industry to Drive Demand for Demolition Tools
                                 Table 4 Market for Demolition Tools, By Mode of Operation,  2016–2024 (USD Million)
    7.4 Sawing and Cutting Tools
           7.4.1 Jigsaws
                    7.4.1.1 Jigsaws are Widely Used in Wood and Metal Cutting Applications
           7.4.2 Reciprocating Saws
                    7.4.2.1 Cordless Reciprocating Saws are Gaining Popularity Among Professionals
           7.4.3 Circular Saws
                    7.4.3.1 Circular Saws are Heavy Duty Power Tools for Professional Users
           7.4.4 Band Saws
                    7.4.4.1 Band Saws are Preferred for Stationary Cutting Applications
           7.4.5 Shears and Nibblers
                    7.4.5.1 Shears and Nibblers are Replacing Hand Tools for Metal Cutting Applications
                                Figure 25 Electric Sawing and Cutting Tools to Dominate Market During Forecast Period
                    Table 5 Market for Sawing and Cutting Tools, By Mode of Operation, 2016–2024 (USD Million)
    7.5 Material Removal Tools
           7.5.1 Sanders/Polishers/Buffers
                    7.5.1.1 Demand for Sanders and Polisher is Likely to Grow in Industrial Applications
           7.5.2 Grinders
                    7.5.2.1 Angle Grinders
                               7.5.2.1.1 Construction Industry is Leading the Demand for Angle Grinders
                    7.5.2.2 Die and Straight Grinders
                               7.5.2.2.1 Die and Straight Grinder are Used Mostly in Construction Sites, Automobile Repair Shops, and Metalworking Shops
                                              Figure 26 Electric Material Removal Tools to Dominate Market During Forecast Period
                                              Table 6 Market for Material Removal Tools, By Mode of Operation, 2016–2024 (USD Million)
    7.6 Routing Tools
           7.6.1 Routers/Planers/Joiners
                    7.6.1.1 Palm Routers and Laminate Trimmers
                               7.6.1.1.1 Woodworking Professionals to Drive Demand for Palm Routers and Laminate Trimmers
                                              Table 7 Market for Routing Tools, By Mode of Operation, 2016–2024 (USD Million)
    7.7 Others
            Table 8 Market for Other Tools, By Mode of Operation, 2016–2024 (USD Million)

8 Power Tools Market, By Mode of Operation (Page No. - 67)
    8.1 Introduction
            Figure 27 Market, By Mode of Operation
            Figure 28 Electric Power Tools to Dominate Market During Forecast Period
                    Table 9 Market, By Mode of Operation, 2016–2024 (USD Million)
    8.2 Electric
            Figure 29 Drilling and Fastening Tools to Lead Electric Power Tools Market During Forecast Period
            Table 10 Electric Power Tools Market, By Tool Type, 2016–2024 (USD Million)
            Table 11 Electric Market, By Application, 2016–2024 (USD Million)
            Table 12 Electric Market, By Industry, 2016–2024 (USD Million)
            Table 13 Electric Market for Construction Industry, By Region,  2016–2024 (USD Million)
            Figure 30 Europe to Hold Largest Size of Electric Market for Automotive Industry During Forecast Period
            Table 14 Electric Power Tools Market for Automotive Industry, By Region,  2016–2024 (USD Million)
            Table 15 Electric Market for Aerospace Industry, By Region,  2016–2024 (USD Million)
            Table 16 Electric Market for Energy Industry, By Region, 2016–2024 (USD Million)
            Table 17 Electric Market for Shipbuilding Industry, By Region,  2016–2024 (USD Million)
            Table 18 Electric Market for Other Industries, By Region, 2016–2024 (USD Million)
            Figure 31 North America to Hold Largest Size of Electric Market for Residential/Diy Application During Forecast Period
            Table 19 Electric Power Tools Market for Residential/Diy Application, By Region, 2016–2024 (USD Million)
            Table 20 Electric Market, By Type, 2016–2024 (USD Million)
           8.2.1 Corded Tools
                    8.2.1.1 Corded Electric Tools to Held Largest Size of Market in 2018
           8.2.2 Cordless Tools
                    8.2.2.1 Demand for Cordless Tools to Grow at Highest CAGR During Forecast Period
    8.3 Pneumatic
           8.3.1 Construction and Automotive Industries to Drive Demand for Pneumatic Power Tools During Forecast Period
                      Table 21 Pneumatic Power Tools Market, By Tool Type, 2016–2024 (USD Million)
                      Figure 32 Automotive Industry to Dominate Pneumatic Market During Forecast Period
                      Table 22 Pneumatic Market, By Industry, 2016–2024 (USD Million)
                      Table 23 Pneumatic Market for Construction Industry, By Region,  2016–2024 (USD Million)
                      Table 24 Pneumatic Market for Automotive Industry, By Region, 2016–2024 (USD Million)
                      Figure 33 Pneumatic Market for Aerospace Industry in APAC to Grow at Highest CAGR During 2019–2024
                      Table 25 Pneumatic Market for Aerospace Industry, By Region,  2016–2024 (USD Million)
                      Table 26 Pneumatic Power Tools Market for Energy Industry, By Region, 2016–2024 (USD Million)
                      Table 27 Pneumatic Market for Shipbuilding Industry, By Region,  2016–2024 (USD Million)
                      Table 28 Pneumatic Market for Other Industries, By Region,  2016–2024 (USD Million)
    8.4 Other Tools
           8.4.1 Construction Industry to Dominate Market for Hydraulic and Power-Actuated Tools
                      Table 29 Market for Others, By Tool Type, 2016–2024 (USD Million)
                      Figure 34 Construction Industry to Lead the Market for Other Market During 2019–2024
                      Table 30 Market for Others, By Industry, 2016–2024 (USD Million)

9 Power Tools Market, By Application (Page No. - 85)
    9.1 Introduction
            Figure 35 Market, By Application
            Table 31 Market, By Application, 2016–2024 (USD Million)
    9.2 Industrial/Professional
            Figure 36 Market for Automotive Industry to Grow at Highest CAGR During Forecast Period
            Table 32 Market, By Industrial Application, 2016–2024 (USD Million)
            Table 33 Market for Industrial Applications, By Region, 2016–2024 (USD Million)
           9.2.1 Construction
                    9.2.1.1 Construction Industry Held Largest Size of Market in 2019
                                Table 34 Market in Construction Industry, By Mode of Operation,  2016–2024 (USD Million)
                                Figure 37 Market for Constriction Industry in APAC to Grow at Highest CAGR During Forecast Period
                                Table 35 Market for Construction Industry, By Region, 2016–2024 (USD Million)
           9.2.2 Automotive
                    9.2.2.1 Automotive to Exhibit Highest Growth in Market Between 2019 and 2024
                                Table 36 Market in Automotive Industry, By Mode of Operation,  2016–2024 (USD Million)
                                Table 37 Market for Automotive Industry, By Region, 2016–2024 (USD Million)
           9.2.3 Aerospace
                    9.2.3.1 Aerospace to Offer Lucrative Opportunity for Material Removal Tool Manufacturers
                                Table 38 Market for Aerospace Industry, By Mode of Operation,  2016–2024 (USD Million)
                                Figure 38 North America to Account for Largest Size of Market for Aerospace Industry During Forecast Period
                                Table 39 Market for Aerospace Industry, By Region, 2016–2024 (USD Million)
           9.2.4 Energy
                    9.2.4.1 Wind Energy to Offer Significant Growth Opportunities During Forecast Period
                                Table 40 Market for Energy Industry, By Mode of Operation,  2016–2024 (USD Million)
                                Table 41 Market for Energy Industry, By Region, 2016–2024 (USD Million)
           9.2.5 Shipbuilding
                    9.2.5.1 APAC Held Largest Size of Market for Shipbuilding Industry in 2018
                                Table 42 Market for Shipbuilding Industry, By Mode of Operation,  2016–2024 (USD Million)
                                Figure 39 APAC to Hold Largest Size of Market for Shipbuilding Industry During Forecast Period
                                Table 43 Market for Shipbuilding Industry, By Region, 2016–2024 (USD Million)
           9.2.6 Other Industries
                     Table 44 Market for Other Industries, By Mode of Operation, 2016–2024 (USD Million)
                     Table 45 Market for Others Industries, By Region, 2016–2024 (USD Million)
    9.3 Residential/Diy
           9.3.1 Cordless Power Tools to Drive Market for Residential/Diy Applications
                     Figure 40 North America to Hold Largest Size of Market for Residential/Diy Application During Forecast Period
                     Table 46 Market for Residential/Diy Applications, By Region,  2016–2024 (USD Million)
                     Table 47 Hydraulic and Power-Actuated Power Tools Market for Construction,  By Region, 2016–2024 (USD Million)
                     Table 48 Hydraulic and Power-Actuated Market for Automotive, By Region, 2016–2024 (USD Million)
                     Table 49 Hydraulic and Power-Actuated Market for Aerospace, By Region, 2016–2024 (USD Million)
                     Table 50 Hydraulic and Power-Actuated Market for Energy, By Region, 2016–2024 (USD Million)
                     Table 51 Hydraulic and Power-Actuated Market for Shipbuilding,  By Region, 2016–2024 (USD Million)
                     Table 52 Hydraulic and Power-Actuated Market for Other Industries, By Region, 2016–2024 (USD Million)

10 Geographic Analysis (Page No. - 102)
     10.1 Introduction
              Figure 41 Snapshot of Global Market
              Table 53 Market, By Region, 2016–2024 (USD Million)
     10.2 North America
              Figure 42 North America: Snapshot of Market
              Table 54 Market in North America, By Mode of Operation, 2016–2024 (USD Million)
              Table 55 Market in North America, By Industrial Application,  2016–2024 (USD Million)
              Figure 43 US to Hold Largest Size of North American Market During 2019–2024
              Table 56 Market in North America, By Country, 2016–2024 (USD Million)
             10.2.1 US
                       10.2.1.1 US to Hold Largest Size of Market From 2019 to 2024
             10.2.2 Canada
                       10.2.2.1 Growing Demand for Cordless Tools to Drive Market in Canada
             10.2.3 Mexico
                       10.2.3.1 Widespread Adoption of Power Tools in Construction Industry is Driving Market Growth in Mexico
     10.3 Europe
              Figure 44 Europe: Snapshot of Market
              Table 57 Market in Europe, By Mode of Operation, 2016–2024 (USD Million)
              Figure 45 Market for Automotive Industry in Europe to Grow at Highest CAGR During Forecast Period
              Table 58 Market in Europe, By Industrial Application, 2016–2024 (USD Million)
              Table 59 Market in Europe, By Country, 2016–2024 (USD Million)
             10.3.1 Germany
                       10.3.1.1 Germany to Remain a Key Market for Power Tools in Europe During Forecast Period
             10.3.2 France
                       10.3.2.1 Presence of Leading Aerospace and Automotive Companies to Drive Demand for Power Tools in France
             10.3.3 UK
                       10.3.3.1 Growing Demand for Cordless Tools From Residential and Nonresidential Users is Driving Market in UK
             10.3.4 Italy
                       10.3.4.1 Automotive to Drive Demand for Power Tools in Italy During Forecast Period
             10.3.5 Rest of Europe
     10.4 APAC
              Figure 46 APAC: Snapshot of Market
              Table 60 Market in APAC, By Mode of Operation, 2016–2024 (USD Million)
              Table 61 Market in APAC, By Industrial Application, 2016–2024 (USD Million)
              Figure 47 Market in India to Grow at Highest CAGR During Forecast Period
              Table 62 Market in APAC, By Country, 2016–2024 (USD Million)
             10.4.1 China
                       10.4.1.1 China Held Largest Size of Market in APAC
             10.4.2 Japan
                       10.4.2.1 Rising Adoption of Cordless Tools is Driving Demand for Power Tools in Japan
             10.4.3 South Korea
                       10.4.3.1 Shipbuilding Industry is a Key End User of Power Tools in  South Korea
             10.4.4 India
                       10.4.4.1 Indian Market to Grow at Highest CAGR During Forecast Period
             10.4.5 Rest of APAC
     10.5 RoW
              Table 63 Market in RoW, By Mode of Operation, 2016–2024 (USD Million)
              Table 64 Market in RoW, By Industrial Application, 2016–2024 (USD Million)
              Figure 48 Market in Middle East and Africa to Grow at Higher CAGR During Forecast Period
              Table 65 Market in RoW, By Region, 2016–2024 (USD Million)
             10.5.1 South America
                       10.5.1.1 Brazil and Argentina are Major Markets in South America
             10.5.2 Middle East and Africa
                       10.5.2.1 UAE, Saudi Arabia, and South Africa are Key Markets in  South America

11 Competitive Landscape (Page No. - 121)
     11.1 Overview
              Figure 49 Key Players Adopted Product Launches and Acquisitions as Key Growth Strategies During 2016–2019
     11.2 Market Ranking Analysis
              Figure 50 Ranking of Top 5 Players in Market (2018)
     11.3 Competitive Leadership Mapping
             11.3.1 Visionary Leaders
             11.3.2 Dynamic Differentiators
             11.3.3 Innovators
             11.3.4 Emerging Companies
                        Figure 51 Market (Global) Competitive Leadership Mapping, 2018
     11.4 Strength of Product Portfolio
     11.5 Business Strategy Excellence
     11.6 Competitive Scenario
             11.6.1 Product Launches
                        Table 66 Product Launch, 2017–2019
             11.6.2 Acquisitions
                        Table 67 Strategic Acquisitions, 2017–2019
             11.6.3 Partnerships and Collaborations
                        Table 68 Partnership and Collaboration, 2018

12 Company Profiles (Page No. - 133)
(Business Overview, Products Offered, Recent Developments, MnM View)*
     12.1 Key Players
             12.1.1 Stanley Black & Decker
                        Figure 52 Stanley Black & Decker: Company Snapshot
             12.1.2 Bosch
                        Figure 53 Bosch: Company Snapshot
             12.1.3 Techtronic Industries (TTI)
                        Figure 54 Techtronic Industries: Company Snapshot
             12.1.4 Makita
                        Figure 55 Makita: Company Snapshot
             12.1.5 Hilti
                        Figure 56 Hilti: Company Snapshot
             12.1.6 Atlas Copco
                        Figure 57 Atlas Copco: Company Snapshot
             12.1.7 Apex Tool Group
             12.1.8 Ingersoll-Rand
                        Figure 58 Ingersoll Rand: Company Snapshot
             12.1.9 Snap-On
                        Figure 59 Snap-On: Company Snapshot
               12.1.10 KOKI Holdings
                        Figure 60 KOKI Holdings: Company Snapshot
*Business Overview, Products Offered, Recent Developments, MnM View Might Not be Captured in Case of Unlisted Companies.
     12.2 Other Key Players
             12.2.1 Emerson Electric Co.
             12.2.2 Panasonic Corporation
             12.2.3 Illinois Tool Works Inc. (ITW)
             12.2.4 Fortive Corporation
             12.2.5 Positec Tool Group
             12.2.6 Chervon (China) Trading Co. Ltd.
             12.2.7 C. & E. Fein GmbH
             12.2.8 Ferm B.V.
             12.2.9 Aimco Global
             12.2.10 Uryu Seisaku, Ltd.
             12.2.11 Interskol
             12.2.12 Tts Tooltechnic Systems AG & Co. Kg (Festool)
             12.2.13 Kyocera Corporation
             12.2.14 CS Unitec
             12.2.15 Dynabrade

13 Appendix (Page No. - 171)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details

The study involved 4 major activities for estimating the current size of the power tools market. An exhaustive secondary research was carried out to collect information on market. The next step involved the validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both, top-down and bottom-up approaches were employed to estimate the overall market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. The secondary sources used for this research study include government sources; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and professional associations. The secondary data have been sourced from associations such as European Power Tool Association (EPTA), Power Tool Institute, International Organization of Motor Vehicle Manufacturers (OICA), and American Hardware Manufacturers Association (AHMA).

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. Primary sources, such as experts from related industries and suppliers, have been interviewed to obtain and verify critical information related to power tools. Key players in the power tools market have been identified through secondary research, and their respective market rankings have been determined through primary and secondary research. This research includes the study of annual reports of the top market players and interviews with key opinion leaders, such as CEOs, directors, and marketing personnel.

Power Tools Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the power tools market and other dependent submarkets listed in this report.

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size through the estimation process, the total market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

The Objectives of the Study are as Follows:

  • To describe and forecast the power tools market, in terms of value, by mode of operation, tool type, and application
  • To analyze and forecast the overall power tools market in terms of volume
  • To describe and forecast the power tools market, in terms of value, by region—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
  • To analyze opportunities in market for stakeholders by identifying high-growth segments in the overall power tools market
  • To provide a detailed overview of the value chain in the power tools market
  • To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall power tools market
  • To profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders
  • To analyze competitive developments such as product launches, acquisitions, and partnerships in the power tools market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to a company’s specific need. The following customization options are available for the report.

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
  • Market share analysis of top 5 suppliers
Report Code
SE 5705
Published ON
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