$41.7 Bn Power Tools Market - Global Forecast to 2024: Leading Manufacturers are Stanley Black & Decker, Bosch, Makita, Hilti, and Techtronic Industries

DUBLIN, Sept. 3, 2019 /PRNewswire/ -- The "Power Tools Market by Mode (Electric (Corded & Cordless), Pneumatic), Tool Type (Drilling & Fastening, Sawing, Demolition, Material Removal), Application (Industrial (Construction, Automotive, Aerospace, Energy), DIY) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global power tools market is estimated to grow from from USD 31.8 billion in 2019 to USD 41.7 billion by 2024, at a CAGR of 5.5%.

Key factors driving the power tools market growth include growing adoption of cordless power tools, increasing sales of commercial vehicles, rising demand for fastening tools in industrial environments, and growing construction industry in emerging economies. However, high maintenance cost of power tools and fluctuations in raw material prices may hamper the growth of the market. The increase in the manufacturing of smart power tools with wireless connectivity and design of connected power tools for Industry 4.0 applications is likely to create a significant growth opportunity for the market players in the next 5 years.

The power tools market is highly diversified and competitive due to the presence of a large number of companies. However, bigger firms in the market are increasingly acquiring small players to expand their offerings worldwide. Power tools have evolved as advanced tools, and the demand for ergonomic, lightweight power tools is increasing among consumers.

The power tools industry is witnessing innovations in every aspect of tool design, ergonomics, efficiency and productivity, battery performance, and other connectivity technologies. Manufacturers are investing more in cordless power tools to better position themselves in a highly competitive market.

Leading manufacturers such as Stanley Black & Decker, Bosch, Makita, Hilti, and Techtronic Industries (TTI) have launched several cordless power tools in the last few years.

Major players in the power tools market are:

Key Players

• Stanley Black & Decker
• Bosch
• Techtronic Industries (TTI)
• Makita
• Hilti
• Atlas Copco
• Apex Tool Group
• Ingersoll-Rand
• Snap-On
• KOKI Holdings

Other Key Players

• Emerson Electric Co.
• Panasonic Corporation
• Illinois Tool Works Inc. (ITW)
• Fortive Corporation
• Positec Tool Group
• Chervon (China) Trading Co. Ltd.
• C. & E. Fein GmbH
• Ferm B.V.
• Aimco Global
• Uryu Seisaku, Ltd.
• Interskol
• TTS Tooltechnic Systems AG & Co. Kg (Festool)
• Kyocera Corporation
• CS Unitec
• Dynabrade

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Lucrative Opportunities in Power Tools Market
4.2 Power Tools Market, By Tool Type
4.3 Market, By Application
4.4 Market in North America, By Mode of Operation and Country
4.5 Market in APAC, By Industrial Application
4.6 Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Adoption of Cordless Power Tools
5.2.1.2 Increasing Sales of Commercial Vehicles
5.2.1.3 Rising Demand for Electric Fastening Tools in Industrial Environments
5.2.1.4 Growing Construction Industry in Emerging Countries
5.2.2 Restraints
5.2.2.1 High Maintenance Cost
5.2.2.2 Raw Material Price Fluctuation
5.2.3 Opportunities
5.2.3.1 Fastening Tools in Wind Energy Industry
5.2.3.2 Smart Connectivity in Power Tools
5.2.3.3 Connected Power Tools for Industry 4.0
5.2.4 Challenges
5.2.4.1 Designing Ergonomic and Lightweight Power Tools
5.2.4.2 Regulatory Compliance and Power Tool Safety

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Research & Development Companies
6.2.2 Component Suppliers
6.2.3 Tool Manufacturers
6.2.4 Distributors and Retailers
6.2.5 End-User Industries
6.2.6 Post-Sales Service Providers
6.3 Key Trends in Power Tools Market
6.3.1 Shift From Corded to Cordless
6.3.2 Connected Assembly Power Tools
6.3.3 Brushless Dc Motors
6.3.4 Lithium-Ion Batteries Replacing NI-CD and NI-MH
6.3.5 Wireless Charging
6.3.6 Growth in DIY Activities
6.3.7 Design of Ergonomic and Powerful Power Tools
6.3.8 Energy-Efficient Power Tools
6.4 Power Tools Application, By Trade
6.4.1 Concrete & Construction
6.4.2 Woodworking
6.4.3 Metalworking

7 Power Tools Market, By Tool Type
7.1 Introduction
7.2 Drilling and Fastening Tools
7.2.1 Drills
7.2.1.1 Electric Drills to Hold Major Market During Forecast Period
7.2.2 Impact Drivers
7.2.2.1 Impact Drivers are Preferred By Professionals for Driving Applications
7.2.3 Impact Wrenches
7.2.3.1 Automotive Industry is the Key End-User of Impact Wrenches
7.2.4 Screwdrivers and Nutrunners
7.2.4.1 Nutrunners are Widely Used in Automotive and Aerospace Assembly Operations
7.3 Demolition Tools
7.3.1 Rotary Hammers/Hammer Drills/Demolition Hammers
7.3.1.1 Construction Industry to Drive Demand for Demolition Tools
7.4 Sawing and Cutting Tools
7.4.1 Jigsaws
7.4.1.1 Jigsaws are Widely Used in Wood and Metal Cutting Applications
7.4.2 Reciprocating Saws
7.4.2.1 Cordless Reciprocating Saws are Gaining Popularity Among Professionals
7.4.3 Circular Saws
7.4.3.1 Circular Saws are Heavy Duty Power Tools for Professional Users
7.4.4 Band Saws
7.4.4.1 Band Saws are Preferred for Stationary Cutting Applications
7.4.5 Shears and Nibblers
7.4.5.1 Shears and Nibblers are Replacing Hand Tools for Metal Cutting Applications
7.5 Material Removal Tools
7.5.1 Sanders/Polishers/Buffers
7.5.1.1 Demand for Sanders and Polisher is Likely to Grow in Industrial Applications
7.5.2 Grinders
7.5.2.1 Angle Grinders
7.5.2.1.1 Construction Industry is Leading the Demand for Angle Grinders
7.5.2.2 Die and Straight Grinders
7.5.2.2.1 Die and Straight Grinder are Used Mostly in Construction Sites, Automobile Repair Shops, and Metalworking Shops
7.6 Routing Tools
7.6.1 Routers/Planers/Joiners
7.6.1.1 Palm Routers and Laminate Trimmers
7.6.1.1.1 Woodworking Professionals to Drive Demand for Palm Routers and Laminate Trimmers
7.7 Others

8 Power Tools Market, By Mode of Operation
8.1 Introduction
8.2 Electric
8.2.1 Corded Tools
8.2.1.1 Corded Electric Tools to Held Largest Size of Market in 2018
8.2.2 Cordless Tools
8.2.2.1 Demand for Cordless Tools to Grow at Highest CAGR During Forecast Period
8.3 Pneumatic
8.3.1 Construction and Automotive Industries to Drive Demand for Pneumatic Power Tools During Forecast Period
8.4 Other Tools
8.4.1 Construction Industry to Dominate Power Tools Market for Hydraulic and Power-Actuated Tools

9 Power Tools Market, By Application
9.1 Introduction
9.2 Industrial/Professional
9.2.1 Construction
9.2.1.1 Construction Industry Held Largest Size of Power Tools Market in 2019
9.2.2 Automotive
9.2.2.1 Automotive to Exhibit Highest Growth in Market Between 2019 and 2024
9.2.3 Aerospace
9.2.3.1 Aerospace to Offer Lucrative Opportunity for Material Removal Tool Manufacturers
9.2.4 Energy
9.2.4.1 Wind Energy to Offer Significant Growth Opportunities During Forecast Period
9.2.5 Shipbuilding
9.2.5.1 APAC Held Largest Size of Power Tools Market for Shipbuilding Industry in 2018
9.2.6 Other Industries
9.3 Residential/DIY
9.3.1 Cordless Power Tools to Drive Market for Residential/DIY Applications

10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US to Hold Largest Size of Power Tools Market From 2019 to 2024
10.2.2 Canada
10.2.2.1 Growing Demand for Cordless Tools to Drive Market in Canada
10.2.3 Mexico
10.2.3.1 Widespread Adoption of Power Tools in Construction Industry is Driving Market Growth in Mexico
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany to Remain a Key Market for Power Tools in Europe During Forecast Period
10.3.2 France
10.3.2.1 Presence of Leading Aerospace and Automotive Companies to Drive Demand for Power Tools in France
10.3.3 UK
10.3.3.1 Growing Demand for Cordless Tools From Residential and Nonresidential Users is Driving Market in UK
10.3.4 Italy
10.3.4.1 Automotive to Drive Demand for Power Tools in Italy During Forecast Period
10.3.5 Rest of Europe
10.4 APAC
10.4.1 China
10.4.1.1 China Held Largest Size of Power Tools Market in APAC
10.4.2 Japan
10.4.2.1 Rising Adoption of Cordless Tools is Driving Demand for Power Tools in Japan
10.4.3 South Korea
10.4.3.1 Shipbuilding Industry is a Key End User of Power Tools in South Korea
10.4.4 India
10.4.4.1 Indian Power Tools Market to Grow at Highest CAGR During Forecast Period
10.4.5 Rest of APAC
10.5 RoW
10.5.1 South America
10.5.1.1 Brazil and Argentina are Major Markets in South America
10.5.2 Middle East and Africa
10.5.2.1 UAE, Saudi Arabia, and South Africa are Key Markets in South America

11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis
11.3 Competitive Leadership Mapping
11.4 Strength of Product Portfolio
11.5 Business Strategy Excellence
11.6 Competitive Scenario

12 Company Profiles

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