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Power Tool Accessories Market: Regional Analysis
38% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for power tool accessories in North America. Market growth in this region will be faster than the growth of the market in the European and South American regions. The rise in the number of outsourcing activities to countries such as Canada, Mexico, and Brazil will facilitate the power tool accessories market growth in North America over the forecast period.
Power Tool Accessories Market: Segmentation Analysis
The power tool accessories market share growth by the professional segment will be significant during the forecast period. The professional segment of the global power tool accessories market is larger than the consumer segment because of the size of the construction, manufacturing, and automotive industries. The growth of the professional segment of this market will be driven by improvements in the construction, manufacturing, and automotive industries. It is expected that the US, China, and India to be the major contributors to this growth.
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Some of the Key Topics Covered in the Report Include
Market Driver:
One of the key factors driving growth in the power tool accessories market is the increase in sales of passenger cars. Power tools are used for various applications in the automotive production line. Therefore, a rise in the sales or production of vehicles is expected to propel the demand for power tools and accessories. Rapid urbanization, better road infrastructure, and consumer preference for new vehicle models with high fuel efficiency and low emissions are some of the factors driving the market growth in Asia. An increase in consumer preference for fuel efficiency and low emission will drive the demand for passenger cars, thereby propelling the demand for power tools and accessories.
Market Challenge:
The decline in construction and automobile sales in China is a major challenge for the power tool accessories market. The recent slowdown that the Chinese economy has been experiencing will have an adverse impact on power tools and accessories markets. The slowdown is mainly attributed to the sluggish performance and manufacturing overcapacity of the country's real estate sector. The manufacturing sector is also adversely affected by the slowdown of the Chinese economy. The primary problem of this sector is the excess production capacity. The slow growth of the manufacturing sectors in China will have an adverse effect on the global power tool accessories market. Construction activities in the world's largest construction market have been declining over the past two years, which, in turn, has affected the world construction market and its related equipment.
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Vendor Landscape
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Atlas Copco AB
- Baker Hughes Co.
- Bellwether Resources International Inc.
- Bit Brokers International Ltd.
- Caterpillar Inc.
- Drill King International LP
- Drilling Products Inc.
- Halliburton Co.
- National Oilwell Varco Inc.
- Sandvik AB
Moreover, the power tool accessories market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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Related Reports
Power Transmission Motion Control Market by Component and Geography - Forecast and Analysis 2022-2026: The power transmission motion control market share is expected to increase by USD 284.40 billion from 2021 to 2026, and the market's growth momentum will decelerate at a CAGR of 17.41%. To get more exclusive research insights: Download Our Sample Report
Power Tools Accessories Market in UK by End-user and Type - Forecast and Analysis 2021-2025: The power tools accessories market in UK has the potential to grow by USD 29.76 million during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 3.82%. To get more exclusive research insights: Download Our Sample Report
Power Tool Accessories Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
Market growth 2020-2024 |
$ 373.87 million |
Market structure |
Fragmented |
YoY growth (%) |
3.80 |
Regional analysis |
APAC, Europe, MEA, North America, and South America |
Performing market contribution |
North America at 38% |
Key consumer countries |
The US and Canada |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Atlas Copco AB, Baker Hughes Co., Bellwether Resources International Inc., Bit Brokers International Ltd., Caterpillar Inc., Drill King International LP, Drilling Products Inc., Halliburton Co., National Oilwell Varco Inc., and Sandvik AB |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
2.2 Market Characteristics
Exhibit 02: Market Characteristics
2.3 Value chain analysis
Exhibit 03: Electrical Components and Equipment
2.3.1 Inputs
2.3.2 Inbound logistics
2.3.3 Operations
2.3.4 Outbound logistics
2.3.5 Marketing and sales
2.3.6 Aftermrket and Service
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2019 - 2024
Exhibit 06: Global - Market size and forecast 2019 - 2024 ($ million)
Exhibit 07: Global market: Year-over-year growth 2019 - 2024 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2019 & 2024
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
Market condition - Five forces 2019
5. Market Segmentation by End-user
The segments covered in this chapter are:
5.1 Market segments
Exhibit 15: End-user - Market share 2019-2024 (%)
5.2 Comparison by End-user
Exhibit 16: Comparison by End-user
5.3 Professional - Market size and forecast 2019-2024
Exhibit 17: Professional - Market size and forecast 2019-2024 ($ million)
Exhibit 18: Professional - Year-over-year growth 2019-2024 (%)
5.4 Consumer - Market size and forecast 2019-2024
Exhibit 19: Consumer - Market size and forecast 2019-2024 ($ million)
Exhibit 20: Consumer - Year-over-year growth 2019-2024 (%)
5.5 Market opportunity by End-user
Exhibit 21: Market opportunity by End-user
6. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 22: Customer landscape
7. Geographic Landscape
The regions covered in the report are:
- North America
- Europe
- APAC
- South America
- MEA
North America was the largest region of the market in 2020 and would continue to be the largest segment of the market in 2025. It would grow at a compounded annual growth rate of around 5% between 2020 and 2025, which is slower than the overall market
7.1 Geographic segmentation
Exhibit 23: Market share by geography 2019-2024 (%)
7.2 Geographic comparison
Exhibit 24: Geographic comparison
7.3 North America - Market size and forecast 2019-2024
Exhibit 25: North America - Market size and forecast 2019-2024 ($ million)
Exhibit 26: North America - Year-over-year growth 2019-2024 (%)
7.4 Europe - Market size and forecast 2019-2024
Exhibit 27: Europe - Market size and forecast 2019-2024 ($ million)
Exhibit 28: Europe - Year-over-year growth 2019-2024 (%)
7.5 APAC - Market size and forecast 2019-2024
Exhibit 29: APAC - Market size and forecast 2019-2024 ($ million)
Exhibit 30: APAC - Year-over-year growth 2019-2024 (%)
7.6 South America - Market size and forecast 2019-2024
Exhibit 31: South America - Market size and forecast 2019-2024 ($ million)
Exhibit 32: South America - Year-over-year growth 2019-2024 (%)
7.7 MEA - Market size and forecast 2019-2024
Exhibit 33: MEA - Market size and forecast 2019-2024 ($ million)
Exhibit 34: MEA - Year-over-year growth 2019-2024 (%)
7.8 Key leading countries
Exhibit 35: Key leading countries
7.9 Market opportunity by geography
Exhibit 36: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Volume driver - Demand led growth
8.1.1 Increase in sales of passenger cars
8.1.2 Growth of fabricated metal products
8.1.3 Rise in construction activities in emerging nations in APAC
8.2 Market challenges
8.2.1 Decline in construction and automobile sales in China
8.2.2 High cost of power tools
8.2.3 Lack of skilled labors
Exhibit 37: Impact of drivers and challenges
8.3 Market trends
8.3.1 Increased integration of Internet of Things (IoT) in manufacturing processes
8.3.2 Rise in EV sales
8.3.3 Increase in demand for commercial aircraft
9. Vendor Landscape
9.1 Competitive scenario
9.2 Vendor landscape
Exhibit 38: Vendor landscape
9.3 Landscape disruption
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
Exhibit 39: Landscape disruption
9.4 Industry risks
Exhibit 40: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 41: Vendors covered
10.2 Market positioning of vendors
Exhibit 42: Market positioning of vendors
10.3 Atlas Copco AB
Exhibit 43: Atlas Copco AB - Overview
Exhibit 44: Atlas Copco AB - Business segments
Exhibit 45: Atlas Copco AB. - Key news
Exhibit 46: Atlas Copco AB - Key offerings
Exhibit 47: Atlas Copco AB - Segment focus
10.4 Baker Hughes Co.
Exhibit 48: Baker Hughes Co. - Overview
Exhibit 49: Baker Hughes Co. - Business segments
Exhibit 50: Baker Hughes Co.- Key news
Exhibit 51: Baker Hughes Co. - Key offerings
Exhibit 52: Baker Hughes Co. - Segment focus
10.5 Bellwether Resources International Inc.
Exhibit 53: Bellwether Resources International Inc. - Overview
Exhibit 54: Bellwether Resources International Inc. - Product and service
Exhibit 55: Bellwether Resources International Inc. - Key offerings
10.6 Bit Brokers International Ltd.
Exhibit 56: Bit Brokers International Ltd. - Overview
Exhibit 57: Bit Brokers International Ltd. - Product and service
Exhibit 58: Bit Brokers International Ltd. - Key offerings
10.7 Caterpillar Inc.
Exhibit 59: Caterpillar Inc. - Overview
Exhibit 60: Caterpillar Inc. - Business segments
Exhibit 61: Caterpillar Inc. - Key news
Exhibit 62: Caterpillar Inc. - Key offerings
Exhibit 63: Caterpillar Inc. - Segment focus
10.8 Drill King International LP
Exhibit 64: Drill King International LP - Overview
Exhibit 65: Drill King International LP - Product and service
Exhibit 66: Drill King International LP - Key news
Exhibit 67: Drill King International LP - Key offerings
10.9 Drilling Products Inc.
Exhibit 68: Drilling Products Inc. - Overview
Exhibit 69: Drilling Products Inc. - Product and service
Exhibit 70: Drilling Products Inc. - Key offerings
10.10 Halliburton Co.
Exhibit 71: Halliburton Co. - Overview
Exhibit 72: Halliburton Co. - Business segments
Exhibit 73: Halliburton Co. - Key news
Exhibit 74: Halliburton Co. - Key offerings
Exhibit 75: Halliburton Co. - Segment focus
10.11 National Oilwell Varco Inc.
Exhibit 76: National Oilwell Varco Inc. - Overview
Exhibit 77: National Oilwell Varco Inc. - Business segments
Exhibit 78: National Oilwell Varco Inc.- Key news
Exhibit 79: National Oilwell Varco Inc. - Key offerings
Exhibit 80: National Oilwell Varco Inc. - Segment focus
10.12 Sandvik AB
Exhibit 81: Sandvik AB - Overview
Exhibit 82: Sandvik AB - Business segments
Exhibit 83: Sandvik AB - Key news
Exhibit 84: Sandvik AB - Key offerings
Exhibit 85: Sandvik AB - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 86: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 87: Research Methodology
Exhibit 88: Validation techniques employed for market sizing
Exhibit 89: Information sources
11.4 List of abbreviations
Exhibit 90: List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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