The global power tools market is anticipated to grow at a considerable CAGR of 5.9% during the forecast period. One of the core factors that is fueling the market is the rising demand from the construction industry owing to the development of advanced infrastructures which is propelling the sales of power tools. Power tools have been adopted in the construction industry owing to the increased efficiency and accuracy offered by these tools, along with the improved safety of the workforce. The growth of the construction industry resulted in the boosting demand for power tools, which leads to innovative advanced infrastructural developments. For instance, in June 2019, Bosch launched an innovative, cordless, power tool in the imaging, and measured categories. The construction industry is anticipating witnessing substantial growth across the globe.
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Based on type, the drilling and fastening segment is anticipated to hold a prominent share in the market during the forecast period. The growth of the segment is attributed to the increasing adoption of these power tools in wind turbine installation operations and automotive assembly. The growth is reflected in the participation of market players in launching new drilling and fastening power tools in the market. For instance, in January 2022, Bosch launched its new hammer drill/driver and drill/driver beneath the PROFACTOR System to date the GSR18V-1330C and GSB18V-1330C. These newly designed power tool models offer users kickback control, high power, and leveling-angle control for accomplishing a range of heavy-duty tasks. Mostly, electric drilling and fastening tools are used by DIY consumers and professionals, while most pneumatic drilling and fastening tools are used in industrial environments such as aerospace and automotive manufacturing plants.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Power Tools Market Report Segment
By Type
- Material Removal
- Drilling and Fastening
- Demolition
- Sawing
By Power Source
- Electric
- Pneumatic
By End-User
- Automotive
- Construction
- Residential
- Others (Aerospace)
Global Power Tools Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global power tools market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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