Dublin, March 29, 2023 (GLOBE NEWSWIRE) -- The "Global Power Tools Market (by Mode of Operation, End-User & Region): Insights & Forecast with Potential Impact of COVID-19 (2023-2027)" report has been added to ResearchAndMarkets.com's offering.
The global power tools market is expected to record a value of US$53.16 billion in 2027, rising at a CAGR of 5.70%, for the time period of 2023-2027.
Factors such as surging number of construction activities, expansion of automotive industry, rising demand from wind energy industry and expanding urbanization would drive the growth of the market.
However, the market growth would be challenged by stringent regulatory compliance and safety standards, fluctuations in raw material prices and high costs associated with the repair and replacement of power tools. A few notable trends include accelerating adoption of cordless power tools, increasing demand for home improvement products and advancements in technology.
The fastest growing regional market was Asia Pacific due to the rising urbanization, growing manufacturing industry, and increasing automotive sales in this region, increasing government initiatives toward enhancing industrial manufacturing facilities and infrastructural development in various countries in APAC.
Further, the outbreak of COVID-19 pandemic negatively influenced the market growth during 2020 due to supply chain disruptions and halted various manufacturing activities of key end users.
Scope of the report
- The report provides a comprehensive analysis of the global power tools market segmented on the basis of mode of operation, end-user and region, with potential impact of COVID-19.
- The major regional and country markets (Asia Pacific, North America, Europe and Rest of the World) have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
Company Profiles of Leading Players
- Robert Bosch GmbH
- Emerson Electric Co.
- Stanley Black & Decker Inc.
- Atlas Copco AB
- Makita Corporation
- Ingersoll Rand Inc.
Key Topics Covered:
1. Market Overview
1.1 Introduction
1.2 Categories of Power Tools
1.3 Classification of Power Tools based on their Energy Use
1.4 Different Types of Power Tools based on their Purpose
1.5 Value Chain Analysis of Power Tools
1.6 Advantages of Power Tools
1.7 Disadvantages of Power Tools
2. Impact of COVID-19
2.1 Slow Growth Rate of Automotive Industry
2.2 Reduction in Demand from Shipbuilding Industry
2.3 Decline in Disposable Income
3. Global Market Analysis
3.1 Global Power Tools Market by Value
3.2 Global Power Tools Market Forecast by Value
3.3 Global Power Tools Market by Mode of Operation
3.4 Global Power Tools Market by End-User
3.5 Global Power Tools Market by Region
4. Regional Market Analysis
4.1 Asia Pacific
4.1.1 Asia Pacific Power Tools Market by Value
4.1.2 Asia Pacific Power Tools Market Forecast by Value
4.2 North America
4.2.1 North America Power Tools Market by Value
4.2.2 North America Power Tools Market Forecast by Value
4.2.3 The U.S. Power Tools Market Forecast by Value
4.3 Europe
4.3.1 Europe Power Tools Market by Value
4.3.2 Europe Power Tools Market Forecast by Value
4.4 Rest of the World
4.4.1 Rest of the World Power Tools Market by Value
4.4.2 Rest of the World Power Tools Market Forecast by Value
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Surging Number of Construction Activities
5.1.2 Expansion of Automotive Industry
5.1.3 Rising Demand from Wind Energy Industry
5.1.4 Expanding Urbanization
5.2 Key Trends & Developments
5.2.1 Accelerating Adoption of Cordless Power Tools
5.2.2 Increasing Demand for Home Improvement Products
5.2.3 Advancements in Technology
5.3 Challenges
5.3.1 Stringent Regulatory Compliance and Safety Standards
5.3.2 Fluctuations in Raw Material Prices
5.3.3 High Costs Associated with Repair & Replacement of Power Tools
6. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/9otnd4
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