Power Tools Accessories Market Size by Revenue to Reach USD 17 Billion by 2025 - Arizton

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Dec 13, 2021, 10:00 ET

CHICAGO, Dec. 13, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this power tools accessories market report.

The power tools accessories market is expected to grow at a CAGR of over 6% during the period 2020−2026.

Key Insights:

Japan and South Korea are major manufacturers and exporters of electrical appliances and automobiles, Singapore dominates with its excellent construction facilities. Furthermore, the increasing purchasing power of consumers and rising practice DIY among young consumers are driving the heat gun market in the APAC region.
The EV industry can be highly benefitted with the advancement in power tools and accessories. The power tool manufacturers are focusing on developing wireless tools that can connect with the internet.
Rise in the application of precision parts and growing global consumer traffic are expected to drive the demand for power tools and accessories in the aerospace industry.
The power tools sector has witnessed significant growth over the years due to the boom in the construction and related industries. The innovation and technology have led to a shift from corded to cordless tools.
Most major players such as Bosch develop user-friendly tools with NanoBlade technology for DIY enthusiasts which is accelerating the growth of the market.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by accessory type, end-user, and geography
Competitive Landscape – 5 key vendors, and 22 other vendors are profiled in the report

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Power Tools Accessories Market – Opportunities Assessment

The present scenario is driving vendors to alter and refine their unique value propositions to achieve a strong market presence. In 2019, the top 18 companies including Bosch, Stanley, and Milwaukee accounted for over 85% share of the global power tool accessories market. Extending the product portfolio with power tools and accessories that are customized and ideal for DIY enthusiasts can be an effective strategy for most of the competitive vendors in the market. TTI launches more than 300 new upgraded products each year and it takes six months to develop a new product where the versatility of the products is enhancing the market for new range of accessories. The adoption rate of cordless power tools among end-users in the US and Europe has been impressive since their launch. With the growth in DIY culture and the demand for more user-friendly tools, vendors are customizing their tools for home improvement activities. Consequently, jigsaws and sanders from TTI and Stanley are being designed for DIY enthusiasts. By focusing on a new category of tools, the advent of a new range of accessories could also increase the overall revenues for these companies.

Power Tools Accessories by Accessory Type

Drill Bits
Screwdriver Bits
Router Bits
Circular Saw Blades
Jig Saw Blades
Bandsaw Blades
Abrasive Wheels
Reciprocating Saw Blades
Batteries
Others

Power Tools Accessories by End-user

Industrial

Automotive
Aerospace
Electronics
Energy
Construction
Shipbuilding
Others

Commercial
Residential

Power Tools Accessories by Geography

North America

US
Canada

Europe

UK
Germany
France
Spain
Italy

APAC

China
Japan
South Korea
Australia
India

Latin America

Brazil
Mexico

Middle East & Africa

Saudi Arabia
UAE
Saudi Arabia
Turkey

Key Drivers and Trends fueling Market Growth:

Growing Prominence in Asian Manufacturing
Industry 4.0 and Smart Precision Manufacturing
Growth in the Construction Industry
Development in Lithium-ion Batteries

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Prominent Vendors

Black & Decker
Robert Bosch
Techtronic Industries Company (TTI)
Makita
Hilti

Other Prominent Vendors

Apex Tool Group
Snap-on
Koki Holdings
Fortive
Positec
Chervon
Fein
FERM
AIMCO
Festool
CS Unitec
Dynabrade
Husqvarna
Stihl
Blount
KYOCERA
INTERSKOL
Panasonic
URYU SEISAKU
Atlas Copco
Ingersoll Rand
Emerson

Explore our industrial machinery profile to know more about the industry.

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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SOURCE Arizton Advisory & Intelligence