HNY Research projects that the Power Tools market size will grow from USD 27.11 Billion in 2017 to USD 35.64 Billion by 2023, at an estimated CAGR of 4.66%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
The constantly growing construction industry in emerging economies, increasing sales of commercial vehicles across the world, and rising demand for cordless tools. However, the high maintenance cost associated with power tools hinders the market growth. The market has been segmented on the basis of mode of operation, tool type, application, and geography. In 2017, electric tools held the largest share of the overall power tools market. Corded electric tools are wired tools used as handheld tools. Corded tools need a continuous power supply; therefore, they never run out of power, unlike cordless tools. Corded tools offer more torque than cordless fastening tools. The electric tools market is dominated by corded tools. Due to the improvement in batteries due to a strong replacement of Ni-Cd batteries with Li-Ion batteries and increasing adoption of cordless tools help the market for cordless tools to grow at a higher rate.
By Market Players:
Atlas Copco, Stanley Black & Decker, Robert Bosch, Ingersoll-Rand, Hilti, Techtronic Industries (TTI), Makita, Hitachi Koki, Snap-On, Apex Tool Group, Uryu Seisaku, Positec Group, CS Unitec, Deprag Schulz, Friedrich Duss, C. & E. Fein, Emerson Electric, Interskol, Panasonic, Chevron Group
By Mode of Operation
Electric, Pneumatic, Other Tools, ,
By Tool Type
Drilling and Fastening/Driving Tools, Demolition Tools, Sawing and Cutting Tools, Material Removal Tools, Routing Tools
Construction, Automotive, Aerospace, Other Industries, Residential
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