NEW YORK, July 23, 2021 /PRNewswire/ -- Technavio has been monitoring the cordless power tools market and it is poised to grow by USD 3.64 billion during 2021-2025, progressing at a CAGR of 4.08% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
COVID-19 Impact Analysis on Cordless Power Tools Market can now be gained through our report. Download Free Sample Now!
The cordless power tools market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Top 3 Cordless Power Tools Market Players:
Atlas Copco AB
Atlas Copco AB offers a Tensor range that covers all station and assembly line requirements for safety-critical and quality critical fastening applications. These are battery assembly tools that include both shut-off and transducerized nutrunners and screwdrivers.
Hilti Corp. offers various ranges of cordless tools of Drill machines, Hammer drill drivers, Impacts, Angle grinders, Rotary hammers, and saws.
Hitachi Ltd. offers cordless power tools in a wide array of options under the brand name HIKOKI.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get a detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/cordless-power-tools-market-industry-analysis
Cordless Power Tools Market 2021-2025: Segmentation
The cordless power tools market is segmented as below:
- North America
- South America
The cordless power tools market is driven by the growth in the production of light vehicles. In addition, the DIY concept gaining momentum in developed countries is expected to trigger the cordless power tools market toward witnessing a CAGR of 4.08% during the forecast period.
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