Power Tools Accessories Market in UK to record USD 29.76 Mn growth; high growth expected in the professional end-user segment -- Technavio

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Oct 03, 2022, 01:30 ET

NEW YORK, Oct. 3, 2022 /PRNewswire/ -- The power tools accessories market in UK is forecasted to grow by USD 29.76 million, accelerating at a CAGR of 3.82% between 2020 and 2025. Technavio segments the market by end-user (professional and consumer) and type (drill bits, screwdriver bits, router bits, and others). The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.

Key points covered in the power tools accessories market study:

Technavio has announced its latest market research report titled Power Tools Accessories Market in UK 2021-2025

Market estimates and forecast 2021-2025
Key drivers, trends, and challenges impacting market growth
Segment-wise, region-wise, and country-wide analysis
Analysis of market share by vendors
Key product launches and regulatory climate
Post-COVID-19 impact on the market landscape. Download PDF Report Sample

Technavio categorizes the power tools accessories market in UK as a part of the global electrical components and equipment market within the global electrical equipment market. The parent market, the global electrical components, and the equipment market cover the companies engaged in the manufacturing of electrical cables and wires, electrical components, and electrical equipment. The parent market is driven by the growing adoption of automation in the manufacturing process and the increasing number of smart grid projects.

The market is primarily driven by the growing demand for power tools for DIY projects. The rising penetration of social media has encouraged many people to involve in DIY projects to demonstrate their creative skills. In addition, the growing number of home improvement stores and the increasing availability of power tools and accessories have further fueled consumer interest in DIY projects. This growing interest in consumers is encouraging vendors in the market to introduce a wide range of power tools and power tool accessories, which is driving the growth of the market.

The full report provides information on other drivers, trends, and challenges that are impacting the grow of the market. Request a Sample PDF Report

Professional segment to generate maximum revenue in power tools accessories market and is leading end-user segment in the power tools accessories market in UK. The increasing demand for power tools from the automotive and construction industries is driving the growth of the professional end-user segment.

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The power tools accessories market in UK is fragmented. Top vendors hold a significant share of the market. The rest of the market share is held by other China-based and private-label brands. Private-label brands also offer highly customized and technologically advanced power tools at lower prices than those offered by international vendors. The competition in this market is expected to intensify further in the future, with increased product extensions and technological innovations. In addition, the growing sales and distribution networks of several hardware and home improvement retailers and mass merchandisers are encouraging retailers to develop their private-label brands in the power tools accessories category. This is expected to further intensify the competition level in the market during the forecast period.

Some of the key players in the power tools accessories market in UK include:

Caterpillar Inc.
Festool GmbH
Hilti Corp.
Koki Holdings Co. Ltd.
KYOCERA Corp.
Makita USA Inc.
MilwaUKee Electric Tool Corp.
Robert Bosch GmbH
Snap-on Inc.
Stanley Black and Decker Inc.

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Related Reports:

Power Tools Accessories Market In UK Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 3.82%
Market growth 2021-2025	USD 29.76 million
Market structure	Fragmented
YoY growth (%)	2.27
Regional analysis	UK
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Caterpillar Inc., Festool GmbH, Hilti Corp., Koki Holdings Co. Ltd., KYOCERA Corp., Makita USA Inc., Milwaukee Electric Tool Corp., Robert Bosch GmbH, Snap-on Inc., and Stanley Black and Decker Inc.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	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:

Executive Summary

Market Landscape

Market ecosystem
Value chain analysis

Market Sizing

Market definition
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

Market Segmentation by End-user

Market segments
Comparison by End-user
Professional - Market size and forecast 2020-2025
Consumer - Market size and forecast 2020-2025
Market opportunity by End-user

Market Segmentation by Type

Market segments
Comparison by Type
Drill bits - Market size and forecast 2020-2025
Screwdriver bits - Market size and forecast 2020-2025
Router bits - Market size and forecast 2020-2025
Others - Market size and forecast 2020-2025
Market opportunity by Type

Customer landscape

Market drivers
Market challenges
Market trends

Vendor Landscape

Overview
Landscape disruption

Vendor Analysis

Vendors covered
Market positioning of vendors
Caterpillar Inc.
Festool GmbH
Hilti Corp.
Koki Holdings Co. Ltd.
KYOCERA Corp.
Makita USA Inc.
Milwaukee Electric Tool Corp.
Robert Bosch GmbH
Snap-on Inc.
Stanley Black and Decker Inc.

Appendix

Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations

About Us

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