Opportunities in the World Market for Power Tools to 2024 - Growing Spending on Construction and Infrastructure Projects
Dublin, Dec. 07, 2020 (GLOBE NEWSWIRE) -- The "Global Power Tools (Electric & Pneumatic) Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to *ResearchAndMarkets.com's* offering.The global power tools market is estimated to reach US$57.4 billion in 2024, growing at a CAGR of 5.18% for the period spanning from 2020 to 2024. The factors such as increasing per capita disposable income, growing urban population, growing spending on construction and infrastructure projects, growing adoption of cordless power tools, growing automotive industry and rising remodelling and renovation projects are expected to drive the market. However, growth of the industry will be challenged by the high maintenance cost of power tools and fluctuations in raw material prices. A few notable trends include advances in lithium batteries, growth of DIY activities and smart and connected power tools.
The global power tools market is segmented into electric, pneumatic and others. The global power tools market is highly dominated by electric power tools owing to its application in construction as well as manufacturing activities.
The global power tools market is expected to grow due to rising infrastructural developments, growing urbanization and rising industrialization. In terms of region, North America is the major contributor to the global power tools market supported by increasing demand for power tools among industrial and residential sectors. The Asia Pacific represents the fastest-growing market for power tools with a rapid increase in the industrialization and urbanization across China, India, and Southeast Asian countries.
*Scope of the report:*
· The report provides a comprehensive analysis of the global power tools market, segmented into electric, pneumatic and others.
· The major regional markets (North America, Europe and the Asia Pacific) have been analyzed.
· The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
· The competitive landscape of the market, along with the company profiles of leading players (Bosch Limited, Stanley Black & Decker, Inc., Techtronic Industries Co. Ltd., Makita Corporation, Hilti Corporation and Hitachi, Ltd.) are also presented in detail.
*Key Topics Covered:*
*1. Market Overview*
1.1 Power Tools
1.2 Common Types of Power Tools
1.3 Segmentation of Power Tools
1.4 Distribution of Power Tools
*2. Impact of COVID-19*
2.1 Decline in Global GDP Growth
2.2 Rise in Unemployment
2.3 Fall in Aviation Industry
2.4 Decline in Global Trade
2.5 Trade-in Medical Goods
2.6 Decline in Manufacturing Production
2.7 Crisis in Tourism Sector
2.8 Accelerating Poverty
2.9 Disruption in Education Sector
*3. Global Market Analysis*
3.1 Global Power Tools Market by Value
3.2 Global Power Tools Market Forecast by Value
3.3 Global Power Tools Production Volume
3.4 Global Power Tools Production Volume Forecast
3.5 Global Power Tools Market by Segment
3.6 Global Power Tools Market by Energy Sources
3.7 Global Power Tools Market by Application
3.8 Global Power Tools Market by End Users
3.9 Global Power Tools Market by Raw Materials
3.10 Global Power Tools Market by Region
*4. Regional Power Tools Market Analysis*
4.1 North America
4.2 Europe
4.3 Asia-Pacific
*5. Market Dynamics*
5.1 Growth Drivers
5.1.1 Increasing Per Capita Disposable Income
5.1.2 Growing Urban Population
5.1.3 Growing Spending on Construction and Infrastructure Projects
5.1.4 Growing Adoption of Cordless Power Tools
5.1.5 Growing Automotive Industry
5.1.6 Rising Remodeling and Renovation Projects
5.2 Key Trends & Developments
5.2.1 Advances in Lithium Batteries
5.2.2 Growth of DIY Activities
5.2.3 Smart and Connected Power Tools
5.3 Challenges
5.3.1 High Maintenance Cost of Power Tools
5.3.2 Fluctuations in Raw Material Prices
*6. Competitive Landscape *
6.1 Global Power Tools Market
6.1.1 Key Players - Revenue Comparison
6.1.2 Key Players - Market Cap Comparison
6.1.3 Global Power Tools Market Share by Company
6.1.4 Global Power Tools Market -Brand Comparison
6.1.5 Global Power Tools Market -Competitive Landscape
*7. Company Profiles*
· Bosch Limited
· Hilti Corporation
· Hitachi Ltd.
· Makita Corporation
· Stanley Black & Decker, Inc.
· Techtronic Industries Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/nv50gn
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