Pune, 16 Dec, 2022: Electric Power Tools Market was valued at USD 27.08 Billion in 2021, and is expected to reach USD 56.43 Billion by 2029, exhibiting a CAGR of 8.5% during the forecast period (2022-2029)
Electric Power Tools Market Scope and Research Methodology
The report on Electric Power Tools Market is segmented by Product Type, End-User Industry and Region, with a focus on major firms such as market leaders, followers, and new entrants. The report is an investor guide that provides a comprehensive picture of the competitive landscape of leading players in the Product Type, End-User Industry and Region by goods and services, revenue, financial status, portfolio, growth strategies, and geographical presence.
The report is a detailed analysis of the electric power tools market by country, regional and global presence. By collecting historical data pertaining to the industry, current and future trends in the electric power tools market are presented in the report along with growth rate and market size forecasts. Regional analysis of the market is conducted at local, regional and global levels for a better understanding of the market penetration, competitive structure, pricing and demand analysis. The report also covers the strategies followed by key players and gives their analysis on the basis of their growth in the last five years in the industry which helps investors and major companies decide their investments and make data-driven decisions.
The competitive analysis of the electric power tools market provides details of the goods and services, the company’s target market, the changes in consumer patterns over the forecast period and pricing comparison. Key players by region are profiled from a strategic perspective in the report. Several parameters such as price, services offered, target audience, design of the product and quality are assessed. Major manufacturers in the industry and listed by region, revenue, financial status, portfolio, technological advancements adopted, mergers and acquisitions, joint venture and strategic alliances in detail. New entrants in the market are also listed with an analysis of their growth prospects and future business outlook. Such analysis acts as a guide for stakeholders, investors, market players and followers and new entrants with precise market estimations of the Electric Power Tools Market for formulating investment approaches and marketing tactics.
Data for analysis is collected by both primary and secondary research methods. Surveys, administering questionnaires offline and online, and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, company records, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT, PESTLE and Porter’s Five Force analysis are used as qualitative tools for the analysis of the market. The report thus provides a comprehensive analysis of the Electric Power Tools Market with market gaps and investment recommendations.
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Electric Power Tools Market Overview
Electric Power Tools are equipment that are powered by an electrical source. This includes tools like screwdrivers, drilling machine, hammer drill and screw guns. These tools are of utmost importance in the construction industry for production, assembly, packaging and maintenance work. These tools are available in varied shapes and sizes depending upon the intensity of the work. They ae generally divided into portable and stationary tools with stationary ones offering enhanced precision and speed.
Electric Power Tools Market Dynamics
Automation and technological advancement in the electric power tools market is leading to market growth. The introduction of new techniques and innovations is improving the efficiency and accuracy of the tools. Automation technologies are also being incorporated which include inventory management solutions for easy availability of tools and a smooth flow of operations. Advancements in the industry are also improving the performance of the tools, making them usable for heavy duty construction operations. Further developments similar to these are expected to boost the electric power tools market growth.
Electric Power Tools are heavily used in the construction industry. Rapid growth and urbanisation is responsible for the construction market’s growth. This growth has increased demand for Electric Power Tools, thereby encouraging innovations and increased adoption of the tools. Manufacturers are providing operation specific electric tools for a higher penetration in the market. This growth is expected to drive the Electric Power Tools Market over the forecast period.
Electric Power Tools Market Regional Insights
North America dominated the Electric Power Tools Market in 2021 and is expected grow at a significant rate over the forecast period. The presence of major manufacturers in the regions is boosting the regional demand for the Electric Power Tools Market. The growth of the construction industry coupled with advancements in the Electric Power Tools Market in the region is a contributing factor which is expected to drive the regional Electric Power Tools Market growth.
Electric Power Tools Market Segmentation
By Product Type:
- Corded
- Cordless
By End-User Industry:
- Construction
- Automotive
- Aerospace
- Others
Electric Power Tools Market Key Manufacturers include:
- Apex Tool Group
- Atlas Copco AB
- Hilti Corporation
- Bostitch
- Ingersoll Rand Inc.
- Koki Holding, Co., Ltd.
- Irwin
- Lenox
- Makita Corporation
- Robert Bosch GmbH
- DeWalt
- Craftsman
- Stanley Black & Decker, Inc.
- Snap-on Incorporated
- Vidmar
- Techtronic Industries Co., Ltd.
- Emerson Electric Co.
- Hitachi Koki Holdings Co., Ltd.
- Enerpac Tool Group
- Mac Tools
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Key questions answered in the Electric Power Tools Market are:
- What are Electric Power Tools?
- What are the major drivers of the Electric Power Tools Market?
- What is the current growth rate of the Electric Power Tools Market?
- What is the nature of competition in Electric Power Tools industry in developed and developing economies?
- Who are the key players in the Electric Power Tools Market?
- Who are the market leaders in Electric Power Tools in Europe?
- Who are the market leaders in Electric Power Tools in USA and Canada?
- Who are the market leaders in Electric Power Tools in India, China, Japan and South Korea?
- What are the factors affecting growth in the Electric Power Tools Market?
- Who held the largest market share in Electric Power Tools Market?
- What are the factors for the growth of Asia-Pacific region in Electric Power Tools Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Product Type, End-User Industry and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading engineering equipment research firm, has also published the following reports:
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