NEW YORK, Jan. 20, 2022 /PRNewswire/ -- The latest Power Tools Market in Europe research report by Technavio infers that the growing popularity of cordless power tools is driving this market's growth.
Resulting in market growth of USD 1.59 billion from 2020 to 2025, read additional information about the market, Get FREE sample report.
Vendor Landscape
The power tools market in Europe is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
Emerson Electric Co. - The company offers RIDGID brand of power tools such as RIDGID Brushless 18V Hammer Drill/Driver and 3-Speed Impact Driver Combo Kit, RIDGID 12V Drill/Driver and Impact Driver Combo Kit, and JobMax Right Angle Impact Driver Head amongst others.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
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The Report Also Covers the Following Areas:
Power Tools Market Size in Europe
Power Tools Market Trends in Europe
Power Tools Market Analysis in Europe
Regional Market Outlook
65% of the market's growth will originate from Rest of Europe during the forecast period. Market growth in the Rest of Europe will be faster than the growth of the market in Germany, France, and the UK.
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Latest Drivers & Trends of the Global Power Tools Market in Europe
The growing popularity of DIY in the European home improvement market is increasing the demand for power tools that provide users with the convenience of lighter weight, safety, and freedom of movement. Hence, there has been an increase in demand for cordless power tools in Europe. This growth is being driven by the increasing use of Li-ion batteries in power tools. In recent years, Li-ion batteries have almost replaced Ni-Cd and Ni-MH batteries in cordless power tools because Li-ion batteries have a high power density. Other benefits include a low self-discharge rate and usage of less toxic material. Hence, the use of BLDC motors coupled with Li-ion batteries in cordless power tools has increased their compactness and freedom of movement. They are capable of performing heavy-duty jobs similar to corded power tools. The demand for cordless power tools in Europe is growing at a faster rate than that of corded tools. It is increasing the ASP of power tools in Europe, thus driving the growth of the market.
Reliability, low maintenance, long life, and compactness are the primary requirements of power tools. BLDC motors meet these requirements as they do not have brushes that cause wear and tear and frictional losses. Relatively low frictional losses and wear and tear make these motors dissipate lower heat than brushed DC motors. Hence, these motors are more energy-efficient than brushed DC motors. BLDC motors are also equipped with integrated electronics, which provide power tools protection against overload. BLDC motors reduce maintenance requirements and increase the life of power tools. The use of BLDC motors in power tools increases its runtime and extends its life. There is an increasing trend of using BLDC motors in power tools such as cordless screwdrivers and drills as these motors are compact in comparison to brushed DC motors. This is because of the high-power density of the BLDC motors.
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Power Tools Market in Europe 2021-2025: Key Highlights
Power Tools Market in Europe Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.06% |
Market growth 2021-2025 |
$ 1.59 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.25 |
Regional analysis |
Germany, France, UK, Belgium, and Rest of Europe |
Performing market contribution |
Rest of Europe at 65% |
Key consumer countries |
Germany, France, UK, Belgium, and The Netherlands |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Apex Tool Group LLC, C. & E. Fein GmbH, Emerson Electric Co., Hilti Corp., Ingersoll Rand Inc., Koki Holdings Co. Ltd., Makita Corp., Robert Bosch GmbH, Stanley Black & Decker Inc., and Techtronic Industries Co. Ltd. |
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 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. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.
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SOURCE Technavio
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