The global power tools market is anticipated to grow at a considerable CAGR of 5.9% during the forecast period. One of the key factors that are fueling the market is their quick and precise actions which have made these devices a far better option as compared to the manual tools. In such a time, where everything is fast, and time has so much importance, the old tools in manufacturing or construction are not considered appropriate which has increased the demand for power tools in the past decade as these tools are more safe, quick, easy, and consumes far less human power as compared to hand tools. The rising demand has encouraged market players to be active in the market to stay competitive in the market.
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For instance, in January 2022, VTOMAN announced the release of its easy-to-use and practical tool kit on the crowdfunding platform Indiegogo. In the VTOMAN toolkit, every tool shares a common power supply which eliminates the need for a different power source for each power tool. In November 2021, Robert Bosch Gmbh’s power tools branch launched an X-LOCK in India. The product is patented as a new innovative system for rapid and keyless changing of accessories. Such ultimate changing solution support for accessories of a switch angle grinder with just one click, allowing accessory swap up to 5 times quicker while confirming matchless user experience and safety.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., 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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