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Global Power Tools & Hand Tools Market worth USD 10300 million by 2027

Power Tools & Hand Tools Market

Qualiket Research

DALLAS, TEXAS, UNITED STATES, November 11, 2021 /EINPresswire.com/ -- Global Power Tools & Hand Tools Market size is projected to grow from USD 8400 million in 2020 to USD 10300 million by 2027, at a CAGR of 4.0%.

The hand and power tools market is currently maturing as a result of the increased usage of hand and power tools in do-it-yourself activities. Furthermore, important factors driving the global hand tools market include increased demand from the automotive maintenance and repair industry, as well as developments in hand and power tool production technologies. Another factor driving the overall market is the rising usage of hand and power tools in industrial applications.

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Market Segmentation Analysis

Based on the Sales Channel, the market is segmented into Online Sales, Retail Sales. Online Sales segment has largest market share during the forecast period. Customers' shopping habits are changing as a result of online sales platforms. They offer various extra benefits to customers, such as door-to-door delivery of products and an online display of a wide range of products and brands to pick from through their online e-commerce platforms.

Key Players

The key players profiled in Power Tools & Hand Tools market analysis Apex Tool Group, Channellock Inc., Klein Tools, Wera Tools, Stanley Black&Decker, Bosch GmbH, Snap-On, and Irwin Industrial Tools, Hangzhou Great Star Industrial Co. Ltd., Husqvarna.

COVID-19 Impact on the Power Tools & Hand Tools Market

The COVID19 pandemic has helped the Power Tools and Hand Tools business. The lockdown mandates imposed to restrict the spread of COVID 19 have given individuals a lot of spare time, pushing them to take on do-it-yourself (DIY) projects. In addition, stimulated production activities in the personal protective equipment sectors have boosted the expansion of the Power Tools & Hand Tools market.

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Regional Analysis

Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. Asia Pacific is expected to have the largest revenue share. Rapid industrialization and increased construction activity in countries such as India, China, Australia, and Japan Power tools and hand tools are widely employed in construction and industrial settings. Even governments in leading countries are taking steps to create infrastructure and construction plans, as well as to promote industrial development with an expanding number of industrial plants.

Market Segmentation

By Sales Channel
• Online Sales
• Retail Sales

By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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About Us

QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which helps our clients outperform their competition.

Vishal Thakur
Qualiket Research
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