Power Tools Market to Grow on Account of rise in use of Pneumatic Power Tools in Commercial Industries
Power Tools Market
According to a new report published by Allied Market Research, titled, “Power Tools Market by Mode of Operation, Tool Type, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the global power tools market size was $32.7 billion in 2019, and is projected to reach $48.7 billion by 2027, registering a CAGR of 4.8% from 2020 to 2027.
Access Full Report Summary:https://www.alliedmarketresearch.com/power-tools-market
The report offers detailed segmentation of the global power tools market based on the mode of operation, tool type, application, and region. Based on tool type, the drills segment contributed to the largest share in 2019, accounting for more than one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is also estimated to portray the highest CAGR of 5.7% during the forecast period.
There is an increase in the development of the global power tools market, due to the boost in trend of automation empowering greater returns on investments (ROI) and cost optimization. The consumption of power tools streamlines human work by reducing the load of repetitive tasks and by lessening the chances of human injury &errors. Advancement of smart technologies, high costs of labor, and the introduction of energy-efficient &low-cost power tools lift the development of the global power tools market.
Download Sample PDF(294 Pages with More Insight):https://www.alliedmarketresearch.com/request-sample/1734
Leading market players analyzed in the research include Emerson Electric Co., Atlas Copco AB, Ingersoll-Rand plc, Hilti Corporation, Makita Corporation, Koki Holdings Co., Ltd., Snap-on Incorporated, Robert Bosch GmbH, Techtronic Industries Co. Ltd., and Stanley Black & Decker Inc.
Asia-Pacific was the foremost geographical market for the global power tools market in 2019. This is due to the large demand for power tools in countries such as China and India due to the presence of a large number of automobile and construction companies.
Covid-19 scenario:
• Several major market players have halted the production of power tools amidst the lockdown.
• The various end-users of power tools such as industrial manufacturing units and the building & construction industry across the globe have halted their operation amid lockdown due to the COVID-19 pandemic.
Get detailed COVID-19 impact analysis on the Power Tools Market:https://www.alliedmarketresearch.com/request-for-customization/1734?reqfor=covid
Based on application, the industrial segment accounted for the largest share in 2019, holding more than three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, DIY (do-it-yourself) segment is expected to register the highest CAGR of 5.2% from 2020 to 2027.
Based on region, North America contributed the highest share, accounting for nearly one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, LAMEA is expected to grow at the highest CAGR of 6.2% from 2020 to 2027.
Key Findings Of The Study
• The report provides an extensive analysis of the current and emerging power tools market trends and dynamics.
• Depending on the application, the industrial segment dominated the power tools market in 2019 and the DIY segment is projected to grow at a CAGR 5.2%during the forecast period.
• By mode of operation, the electric power tools segment led the power tools market in 2019.
• On the basis of tool type, the drills segment held the largest global power tools market share in 2019.
Interested in Procure Data? Visit Here:https://www.alliedmarketresearch.com/purchase-enquiry/1734
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research/
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
vinit sawant
allied market research
+1 8007925285
email us here
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
