Power Tools Market

Market Leader - Power Tools Market

The global power tools market size is expected to grow from USD 38.8 billion in 2021 to USD 57.4 billion by 2026, at a CAGR of 8.2%. The rising construction industry in the emerging economies and growing adoption of battery-powered power tools across the globe are the key factors driving the market growth.

The key players operating in the smoke detector market include the major players which operates in different stages in the entire value chain of smoke detector; these players Stanley Black & Decker, Inc(US) Robert bosch Gmbh (Germany), Makita Corporation (Japan), Techtronic Industries Co., Ltd (Hong Kong)  and Hilti Corporation (Liechtenstein). These players have adopted various growth strategies such as acquisition and new product launches to increase their presence in the global market.

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Stanley Black & Decker, Inc. is a leading producer of power tools; these power tools are offered under its Tools & Storage segment. Most of the business revenue comes from this business segment. The company focuses on expanding its business by partnering with established companies to launch new products. Through the partnership strategy, the company can achieve product diversification and new developments in the products. The company’s SBD Operating Model is the framework of the business to achieve long-term financial objectives. Stanley Black & Decker is recognized as one of the leading entities in the power tools industry.

Robert Bosch GmbH holds the second largest share of power tools market. The company has spent more in 2020 on research and development (R&D) in comparison to 2019, which indicates the growth of the company’s product portfolio development. It has been investing more of its revenue in R&D to expand the user experience of all its products for consumer feasibility and professional usage or applications of it. The company held a significant share of the power tools market in 2021.

Another important player in power tools market is Makita Corporation. The company has a well-established reputation in terms of new product developments, which gives an idea about the product strengths and developments by the company in the power tools market. Makita Corporation has made a few strategic choices such as the company has a presence in about 50 countries and sales network in over 170 countries in regions such as the Americas, Europe, Asia, Oceania, and the Middle East & Africa.

Related Reports:

Power Tools Market by Tool Type (Drilling & Fastening Tools, Demolition Tools, Sawing and Cutting Tools, Material Removal Tools, Routing Tools, Others), Mode of Operation, Distribution Channel, Application – Global Forecast to 2026

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Report Code
SE 5705
RI Published ON
12/16/2021
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