Power Tools Market 2018
Power Tools Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Power Tools Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023
Global Power Tools Market by Type (Engine driven power tools, Electric power tools, Pneumatic power tools, Hydraulic power tools and others), Application (Household, Industrial, and Professional) & by Region – Global Forecast to 2023
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Power Tools Market – Overview
Power tools are being used increasingly in the industrial sector, with the rise in the level of operations. As power tools offer a greater degree of workability, they are being used in a diverse range of applications. Market reports linked to the industrial automation & equipment sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this industry. The market for power tools is anticipated to develop at a CAGR of around 5.17 percent approximately in the forecast period.
The portability of hand held power tools are powering the development of the market considerably. The commercial and residential sectors are the main end users of the power tools market. The benefits of power tools in reducing workload has ensured its speedy adoption. Moreover, the increasing demand of automation has transformed the implementation of the power tools in modern work environments. The growing usage of power tools household activities and DIYs is also expected to contribute in a major way to the development of the market in the forecast period.
The market has been segmented on the basis of application, region and type. The type based segment of the market comprises of Engine driven power tools, Electric power tools, Pneumatic power tools, Hydraulic power tools and others. The application segment of the power tools market comprises of Household, Industrial, and Professional. The region included in the market are North America, Africa, Asia Pacific, Middle East and Europe.
Detailed Regional Analysis
The regional analysis of the power tools market includes regions such as Europe, North America, APAC and rest of the world. The North American region is the primary market for power tools market globally. Factors such as high labor charge and development in the distribution channel are motivating the growth in the region. In North America, U.S. is the leading market with a share of 81.44 percent as of 2016. While, the European region is estimated to control the power tools market in the course of the forecast period.
The long term sustainability of the market is significantly dependent on the tactics and the strategic roadmaps that are employed by market players. The market is very well demarcated in terms of segments relating to the products as well as the end users that are a part of the market. The market shows a great deal of potential for developing at an expedited pace. The product offering of the market has diversified enormously as compared to the past few years, thereby making the market more beneficial for current and new contenders. The market attractiveness and competitors’ dynamics are greatly enhanced by the strategies that are being employed by market players. The heightened financial liquidity of the competitors in the market has increased thereby proving new opportunities for growth of the market. Stanley Black & Decker, Inc. (U.S.), Makita Corporation (U.S.), Robert Bosch Tool Corporation (Germany), Hitachi Koki Co. Ltd. (Japan), Hilti Corporation (Liechtenstein), Snap-on (U.S.),Techtronic Industries Co. Ltd (Hong Kong), Husqvarna (Sweden), Festool (Germany), and Otto Baier GmbH (Germany) are some of the prominent competitors functioning in this market.
Jul 2018 The supply and delivery of power tools framework by Scotland Excel went live recently, with six Scottish companies in the supplier list, and another supplier set to service the contract from their Scottish branches. The framework is anticipated to encourage an expenditure of £2.5 million over its term, and provide savings to councils of around 5.8 percent. This contract heralds good news for councils and suppliers. It has fixed prices for twelve months and eight suppliers are ready to do business across Scotland in which six of them are small to medium enterprises (SMEs).
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