Wilmington, Delaware, United States, March 25, 2017 (GLOBE NEWSWIRE) -- The report “ Power Tools Market by Mode of Operation (Electric, Pneumatic, and Others) and by End User (Residential and Non-residential) - Global Opportunity Analysis and Industry Forecasts, 2014-2022 ”, available on MarketIntelReports, estimates that the market will register a healthy CAGR of 5.4% till 2022.
Browse numerous Market Tables as well as Figures which are spread through 130 Pages and an in-depth TOC on the “ Power Tools Market 2014 - 2022 ” http://www.marketintelreports.com/report/alli...s-20142022
Scope & Regional Forecast of the Power Tools Market
Power tools are the tools and mechanical devices that operate on an external power such as electricity, battery, or compressed air. These tools include handheld machine drills, hydraulic presses, and gas tools among others. They are used for variety of applications such as production, packaging, assembly, and maintenance operations such as drilling, screw driving, chiseling, and sanding. The global market is expected to reach $39,639 million by 2022, registering a CAGR of 5.4% during the forecast period (2014-2022).
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The world power tools market is driven by rapid industrialization in developed and developing countries, increase in housing investments, rising urbanization, and growth in automotive sales. Moreover, the demand for power tools has increased due to do-it-yourself (DIY) techniques among household consumers. The demand for battery-driven cordless tools, change in lifestyle, and increase in per capita income in emerging economies fuel the adoption of DIY techniques, which boosts the market growth. Improvements in cordless battery technology such as the use of lithium-ion battery for longer battery time as compared to nickel-cadmium battery have increased the power and operating time of cordless tools.
Stringent regulatory compliances for cordless tools and decreasing prices of electric power tools drive the growth of power tools market. The European Union has banned the use of nickel-cadmium for cordless power tools due to toxic leakage of cadmium from batteries. The law is expected to be implemented from December 2016, and this law enforcement is expected to increase the demand for cordless, battery-operated power tools as lithium-ion batteries are cost-effective and lightweight in nature. However, unstable economic situation in the Middle East countries, decline in construction activities in China, and mounting maintenance cost of power tools could impede the demand for these tools in the market.
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Prominent Segmentations Involved in the Power Tools Market
The Power Tools Market can be broken down into various segmentations on the basis of -
- Mode of Operation : Electric Power Tools, Pneumatic Power Tools and Others.
- Power Source : Corded Electric Power Tools and Cordless Electric Power Tools.
- End User : Residential and Non-residential.
- Geographical Location : North America, Europe, Asia-Pacific and LAMEA.
Some of the sample companies profiled in the Power Tools Market report are as follows :
- Stanley Black & Decker, Inc.
- Robert Bosch GmbH
- Makita Corporation
- Techtronic Industries Co. Ltd.
- Actuant Corporation
- Emerson Electric Co.
- Hilti Corporation
- Atlas Copco AB
Why buy this report?
- Get a detailed picture of the Power Tools Market.
- Pinpoint growth sectors and identify factors driving change.
- Understand the competitive environment, the market’s major players and leading brands.
- A five-year forecast method is used in order to assess how the market is predicted to develop.
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