Power Tools Market

Power Tools Market Trends & Growth Analysis – Latest Insights

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12598
  • Published Date: Sep, 2024
  • Pages: 234
  • Category: Information Technology & Semiconductors
  • Format: PDF
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Market Dynamics

Drivers

  • The growth in construction and automotive industries

The surge in the per capita income of the people in the developed and developing countries have led to a change in the lifestyle of the people. People now have more access to the quality products. The need of the people have increased, they want ease of life; this has led to the increasing prices of the properties. Also, there is a rise in the demand of luxurious and comfortable cars. The growth in the infrastructure has also led to the demand of the commercial vehicle. All these factors have given a surge in the construction and automotive industries. This, in turn, has given rise to the demand of Power tools market, as it is broadly used in the construction industry and in the automotive industries where the expanding automation and rise in the production have increased the demand of power tools. There is a huge demand for power tools in the automotive industry as it is used in high-performance task and in the cutting of heavy metals.

  • The rise in labor cost in the developing countries

The rise in the labour cost in the developing countries is driving the power tools market. The developing countries like China, India and Brazil, have cheap labour cost compared with the developed nation but gradually there is arise in the labour cost, which has made various industries in the developing region to start looking for the solutions, which has made them start using of power tools, and this has increased the growth of power tools market in various industry sectors in the emerging economies as it is easy to use and it increases the productivity of the industries, which is also helping the manufacturing firms in meeting the rising demand of the customers in the developing countries.

Restraints

  • The fluctuations in the price of raw materials

The fluctuation in the price of raw materials producing Power Tools are acting as a restraint for the market. The fluctuation in the price would cause the fluctuation in supply of Power Tools, which ultimately someday would not able to meet the demand. The price of the Power Tools will then rise, resulted in the less buying of power tools, and the end-user industries would start looking for some other source and would not buy the new advanced power tools, which will reduce the demand of the power tools market. So the fluctuations in the price of raw materials are the major restraint for the power tools market.

Opportunities

  • The surge in the demand of cordless power tools.

The more application of power tools in almost all types of industries like in the construction, shipbuilding, furniture, automotive firms etc. has created the demand for cordless power tools as it provides mobility along with the same degree of flexibility and compatibility as the other power tools. This has made the Power tools manufacturing companies to invest in R&D for the cordless power tools technology, as there is a huge opportunity for this market. According to the EPTA in the year, cordless power tools is accounted for the 50% market share of the power tool market in Europe. There is a huge requirement of cordless power tools in the automotive industries, where there is a requirement of high-performance task. The increasing use of power tools in the household task will also increase the demand for the wireless power tools in the forecasting period. The advancement in battery technologies like Lithium batteries gives long operational life; this is also pushing up the cordless power tools.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Mode of Operation
          4.3.2. Market Attractiveness Analysis By Tool Type
          4.3.3. Market Attractiveness Analysis By Application
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
    5.3. Restraints
    5.4. Opportunities
    5.5. Challenges

6. Global Power Tools Market Analysis and Forecast, By Mode of Operation
    6.1. Segment Overview
    6.2. Electric
          6.2.1. Corded Power Tools
          6.2.2. Cordless Power Tools
    6.3. Pneumatic
    6.4. Others

7. Global Power Tools Market Analysis and Forecast, By Tool Type
    7.1. Segment Overview
    7.2. Drills
    7.3. Saws
    7.4. Wrenches
    7.5. Material Removal Tool
    7.6. Others

8. Global Power Tools Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Industrial
          8.2.1. Construction
          8.2.2. Automotive
          8.2.3. Aerospace
          8.2.4. Others
    8.3. Do-It-Yourself (DIY)

9. Global Power Tools Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Power Tools Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Power Tools Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Atlas Copco AB
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Emerson Electric Co
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Hilti Corporation
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Ingersoll-Rand plc
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Koki Holdings Co., Ltd
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Makita Corporation
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Robert Bosch GmbH
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Snap-on Incorporated
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Stanley Black & Decker Inc
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Techtronic Industries Co. Ltd
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Power Tools Market, By Mode of Operation   , 2020-2033(USD Billion)

2. Global Electric Power Tools  Market, By Region, 2020-2033(USD Billion)

3. Global Corded Power Tools Electric Market, By Region, 2020-2033(USD Billion)

4. Global Cordless Power Tools Electric Market, By Region, 2020-2033(USD Billion)

5. Global Pneumatic Power Tools  Market, By Region, 2020-2033(USD Billion)

6. Global Others Power Tools  Market, By Region, 2020-2033(USD Billion)

7. Global Power Tools Market, By Tool Type  , 2020-2033(USD Billion)

8. Global Drills Power Tools  Market, By Region, 2020-2033(USD Billion)

9. Global Saws Power Tools Electric Market, By Region, 2020-2033(USD Billion)

10. Global Wrenches Power Tools Electric Market, By Region, 2020-2033(USD Billion)

11. Global Material Removal Tool Power Tools Electric Market, By Region, 2020-2033(USD Billion)

12. Global Others Power Tools Electric Market, By Region, 2020-2033(USD Billion)

13. Global Power Tools Market, By Application   , 2020-2033(USD Billion)

14. Global Industrial, Power Tools Market, By Region, 2020-2033(USD Billion)

15. Global Construction, Power Tools Market, By Region, 2020-2033(USD Billion)

16. Global Automotive, Power Tools Market, By Region, 2020-2033(USD Billion)

17. Global Aerospace, Power Tools Market, By Region, 2020-2033(USD Billion)

18. Global Others, Power Tools Market, By Region, 2020-2033(USD Billion)

19. Global Do-It-Yourself (DIY), Power Tools Market, By Region, 2020-2033(USD Billion)

20. Global Power Tools Market, By Region, 2020-2033(USD Billion) 

21. Global Power Tools Market, By North America, 2020-2033(USD Billion)

22. North America Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

23. North America Power Tools Market, By Tool Type, 2020-2033(USD Billion)

24. North America Power Tools Market, By Application, 2020-2033(USD Billion)

25. U.S. Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

26. U.S. Power Tools Market, By Tool Type, 2020-2033(USD Billion)

27. U.S. Power Tools Market, By Application, 2020-2033(USD Billion)

28. Canada Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

29. Canada Power Tools Market, By Tool Type, 2020-2033(USD Billion)

30. Canada Power Tools Market, By Application, 2020-2033(USD Billion)

31. Mexico Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

32. Mexico Power Tools Market, By Tool Type, 2020-2033(USD Billion)

33. Mexico Power Tools Market, By Application, 2020-2033(USD Billion)

34. Europe Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

35. Europe Power Tools Market, By Tool Type, 2020-2033(USD Billion)

36. Europe Power Tools Market, By Application, 2020-2033(USD Billion)

37. Germany Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

38. Germany Power Tools Market, By Tool Type, 2020-2033(USD Billion)

39. Germany Power Tools Market, By Application, 2020-2033(USD Billion)

40. France Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

41. France Power Tools Market, By Tool Type, 2020-2033(USD Billion)

42. France Power Tools Market, By Application, 2020-2033(USD Billion)

43. U.K. Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

44. U.K. Power Tools Market, By Tool Type, 2020-2033(USD Billion)

45. U.K. Power Tools Market, By Application, 2020-2033(USD Billion)

46. Italy Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

47. Italy Power Tools Market, By Tool Type, 2020-2033(USD Billion)

48. Italy Power Tools Market, By Application, 2020-2033(USD Billion)

49. Spain Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

50. Spain Power Tools Market, By Tool Type, 2020-2033(USD Billion)

51. Spain Power Tools Market, By Application, 2020-2033(USD Billion)

52. Asia Pacific Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

53. Asia Pacific Power Tools Market, By Tool Type, 2020-2033(USD Billion)

54. Asia Pacific Power Tools Market, By Application, 2020-2033(USD Billion)

55. Japan Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

56. Japan Power Tools Market, By Tool Type, 2020-2033(USD Billion)

57. Japan Power Tools Market, By Application, 2020-2033(USD Billion)

58. China Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

59. China Power Tools Market, By Tool Type, 2020-2033(USD Billion)

60. China Power Tools Market, By Application, 2020-2033(USD Billion)

61. India Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

62. India Power Tools Market, By Tool Type, 2020-2033(USD Billion)

63. India Power Tools Market, By Application, 2020-2033(USD Billion)

64. South America Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

65. South America Power Tools Market, By Tool Type, 2020-2033(USD Billion)

66. South America Power Tools Market, By Application, 2020-2033(USD Billion)

67. Brazil Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

68. Brazil Power Tools Market, By Tool Type, 2020-2033(USD Billion)

69. Brazil Power Tools Market, By Application, 2020-2033(USD Billion)

70. Middle East and Africa Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

71. Middle East and Africa Power Tools Market, By Tool Type, 2020-2033(USD Billion)

72. Middle East and Africa Power Tools Market, By Application, 2020-2033(USD Billion)

73. UAE Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

74. UAE Power Tools Market, By Tool Type, 2020-2033(USD Billion)

75. UAE Power Tools Market, By Application, 2020-2033(USD Billion)

76. South Africa Power Tools Market, By Mode of Operation, 2020-2033(USD Billion)

77. South Africa Power Tools Market, By Tool Type, 2020-2033(USD Billion)

78. South Africa Power Tools Market, By Application, 2020-2033(USD Billion)

List of Figures 

1. Global Power Tools Market Segmentation

2. Power Tools Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Power Tools Market Attractiveness Analysis By Mode of Operation     

9. Global Power Tools Market Attractiveness Analysis By Tool type     

10. Global Power Tools Market Attractiveness Analysis By Application    

11. Global Power Tools Market Attractiveness Analysis By Region

12. Global Power Tools Market: Dynamics

13. Global Power Tools Market Share By Mode of Operation (2023 & 2033)

14. Global Power Tools Market Share by Tool Type (2023 & 2033)

15. Global Power Tools Market Share by Application (2023 & 2033)

16. Global Power Tools Market Share by Regions (2023 & 2033)

17. Global Power Tools Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Power Tools market on the basis of below mentioned segments:

Global Power Tools Market by Mode of Operation:

  • Electric
    •  Corded Power Tools
    •  Cordless Power Tools
  • Pneumatic
  • Others

Global Power Tools Market by Tool Type:

  • Drills
  • Saws
  • Wrenches
  • Material Removal Tool
  • Others

Global Power Tools Market by Application:

  • Industrial
    •   Construction
    •   Automotive
    •   Aerospace
    •   Others
  • Do-It-Yourself (DIY)

Global Power Tools Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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