Power Tools Market by Tool Type (Drilling and fastening tools, Sawing and cutting tools, Material removal tools and Others), Mode of Operation, Application and Geography - Global Industry Analysis, Opportunities and Forecast up to 2026

The global power tools market size was valued at $28.23 billion in 2020, and is projected to reach $38.93 billion by 2026, growing at a CAGR of 5.5% during the forecast period.

• Rising adoption of cordless power tools globally and surging demand for electric fastening tools in industrial environments are likely to bolster the power tools market growth to a greater demand over the forthcoming years.

• However, the price fluctuation of raw materials is an important factor that is affecting the market growth. Generally, these tools are made up of materials such as steel, metal, and aluminum. Hence, regular price fluctuation in raw materials is primarily hampering the growth of the market.

• Moreover, the technological advancements are another factor influencing the growth of the market. Companies are introducing technologically advanced products in order to improve the efficiency of their products. For instance, the Flexvolt battery offered by Dewalt automatically switches battery voltage depending upon the tool you attached to it.

Equipment activated by an extra power source, such as an electric motor, IC engines, or pressurised air, is referred to as a power tool. In the construction, shipbuilding, energy, and automotive industries, power tools are utilised for a variety of applications. Drilling, cutting, shaping, sanding, grinding, routing, polishing, painting, heating, and other commercial and industrial applications are all possible with Power Tools. Hammer drills, electric screwdrivers, and quick screw guns are examples of these equipment that come in a variety of sizes and are easy to use. Professionals and DIYers employ electric drilling and fastening tools, while industrial environments such as automotive and aerospace manufacturing plants use pneumatic drilling and fastening tools.

By Mode of Operation, the Electric Segment Holds the Dominant Position in the Market Revenue

The Electric segment holds the dominant position in the market revenue during the forecast period owing to the increasing demand for do-it-yourself (DIY) techniques among household consumers. Construction, automotive, aerospace, energy, and shipbuilding are just a few of the industries that use electric power tools. Innovations in battery technology and the increased acceptance of cordless tools among industrial and domestic users are driving the expansion of electric power tools. In the near future, rapid urbanization and industrialization are expected to boost the market's expansion. All end-user industries are predicted to be affected by the COVID-19 epidemic. This, in turn, is projected to have an impact on electric power tool output as well as market demand.

By Geography, North America Region is Projected to Strong Presence in the Global Market

North America is a expected to have a huge demand in the power tools market. The demand for power tools is being driven by the region's growing infrastructural and industrial growth. The presence of significant firms like Stanley Black & Decker, Emerson Electric Co., and Apex Tool Group also contributes to the region's revenue share. Furthermore, the scarcity of cheap labor encourages the adoption of do-it-yourself jobs, which contributes to regional growth.

List of the Key Players Profiled in the Market Include:
• Robert Bosch GmbH
• ANDREAS STIHL AG & Co. KG
• Apex Tool Group, LLC
• Atlas Copco AB
• Carborundum Universal Limited
• CHERVON (China) Trading Co., Ltd.
• Electrex Power Tools
• Emerson Electric Co.
• Enerpac Tool Group
• Hilti Corporation
• Hitachi Koki Ltd.
• Ingersoll Rand
• Makita Corporation
• NINGBO YONGFEITE ELECTRICAL& SCIENCE CO., LTD.
• Snap-on Incorporated
• Stanley, Black & Decker, Inc.
• Techtronic Industries Co. Ltd.
• YAMABIKO Corporation

What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.
 
Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Tool Type:
• Drilling and fastening tools
• Sawing and cutting tools
• Material removal tools
• Demolition tools
• Measuring and layout tools
• Routing Tools
• Laser Tools
• Dust Rxtractors
• Glue Guns
• Heat Guns
   
Market by, Mode of Operation:
• Electric
• Pneumatic
• Hydraulic
• Power-actuated

Market by, Application:
• Industrial
• Residential/DIY

Market by, Geography:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview              
    1.1 Introduction          
    1.2 Research Objectives         
    1.3 Market Segmentation         
    1.4 Stakeholders          
    1.5 List of Acronyms          
                
2 Executive Summary              
                
3 Research Methodology             
    3.1 Identification of Data         
    3.2 Evaluation of Market Dynamics        
    3.3 Collaboration of Data         
    3.4 Verification and Analysis         
    3.5 Data Sources          
    3.6 Assumptions          
                
4 Market Dynamics              
    4.1 Market Drivers          
            4.1.1 Increasing adoption of cordless power tools globally
            4.1.2 Rising demand for electric fastening tools in industrial environments
    4.2 Market Restraints          
            4.2.1 Fluctuations in raw material prices
    4.3 Market Opportunities         
            4.3.1 Growing construction industry in emerging countries
    4.4 Market Challenges          
            4.4.1 High maintenance cost 
    4.5 Impact of COVID-19 on Power Tools Market        
                
5 Porter's Five Force Analysis             
    5.1 Bargaining Power of Suppliers         
    5.2 Bargaining Power of Buyers         
    5.3 Threat of New Entrants         
    5.4 Threat of Substitutes         
    5.5 Competitive Rivalry in the Market        
                
6 Global Power Tools Market by, Tool Type           
    6.1 Overview          
    6.2 Drilling and fastening tools         
    6.3 Sawing and cutting tools         
    6.4 Material removal tools         
    6.5 Demolition tools          
    6.6 Measuring and layout tools         
    6.7 Routing Tools          
    6.8 Laser Tools          
    6.9 Dust Rxtractors          
    6.10 Glue Guns          
    6.11 Heat Guns          
                 
7 Global Power Tools Market by, Mode of Operation           
    7.1 Overview          
    7.2 Electric           
            7.2.1 Corded   
            7.2.2 Cordless   
    7.3 Pneumatic          
    7.4 Hydraulic           
    7.5 Power-actuated          
                
8 Global Power Tools Market by, Application           
    8.1 Overview          
    8.2 Industrial           
            8.2.1 Construction  
            8.2.2 Automotive  
            8.2.3 Aerospace   
            8.2.4 Energy   
            8.2.5 Shipbuilding  
            8.2.6 Other Industrial Applications 
    8.3 Residential/DIY          
                
9 Global Power Tools Market by, Geography           
    9.1 Overview          
    9.2 North America          
    9.3 Europe           
    9.4 Asia Pacific          
    9.5 South America          
    9.6 Middle East & Africa         
                
10 Key Developments              
                
11 Company Profiling               
    11.1 Robert Bosch GmbH          
            11.1.1 Business Overview  
            11.1.2 Product/Service Offering 
            11.1.3 Financial Overview  
            11.1.4 SWOT Analysis  
            11.1.5 Key Activities  
    11.2 ANDREAS STIHL AG & Co. KG         
    11.3 Apex Tool Group, LLC         
    11.4 Atlas Copco AB          
    11.5 Carborundum Universal Limited        
    11.6 CHERVON (China) Trading Co., Ltd.        
    11.7 Electrex Power Tools         
    11.8 Emerson Electric Co.         
    11.9 Enerpac Tool Group          
    11.10 Hilti Corporation          
    11.11 Hitachi Koki Ltd.          
    11.12 Ingersoll Rand          
    11.13 Makita Corporation          
    11.14 NINGBO YONGFEITE ELECTRICAL& SCIENCE CO., LTD.      
    11.15 Snap-on Incorporated         
    11.16 Stanley, Black & Decker, Inc.         
    11.17 Techtronic Industries Co. Ltd.         
    11.18 YAMABIKO Corporation