Electric Power Tools Market: was valued at USD 27.08 Billion in 2021, and is expected to reach USD 56.43 Billion by 2029, exhibiting a CAGR of 8.5% during the forecast period (2022-2029)
Electric Power Tools Market Overview:
Electric Power Tools Market research report explores and evaluates the market's position during the predicted period. It is in-depth study focusing on fundamental and secondary drivers, market share, leading segments, and geographical analysis. The research also looks at notable individuals, large collaborations, mergers and acquisitions, as well as contemporary innovation and corporate strategy.
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Electric Power Tools Market Dynamic:
Stanley Black & Decker, Techtronic Industries, Robert Bosch, Hilti Corporation, Makita Corporation, Hikoki and Koki Holding, Co., Ltd. are the major players in the electric power tools market. Stanley Black & Decker is a leading player in the electric power tools market. It offers a diversified range of corded and cordless power tools for residential and industrial applications. It has a well-balanced product portfolio for electric power tools, comprising various brands, including, BOSTITCH, Black+Decker, Craftsman, Porter Cable, and DeWALT. Moreover, Techtronic Industries (TTI) has an extensive product portfolio related to the electric power tools market. TTI is continuously developing by being on the technology forefront with a cordless product portfolio.
We examined the Electric Power Tools Market from every angle conceivable, including both primary and secondary research approaches. This improved our grasp of current market dynamics, such as supply-demand imbalances, pricing trends, product preferences, and customer behaviours. Following that, the data is collated and evaluated using a variety of market estimation and data validation procedures. In addition, we have an in-house data forecasting engine that predicts market growth until 2027.
Following the completion of market engineering, which comprised market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, significant primary research was done to acquire information to verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.
Electric Power Tools Market Segmentation:
Based on product type, the global electric power tools market is segmented into corded and cordless. The cordless segment is the largest in terms of revenue generated in 2021, and it is expected to register a CAGR of 8.9% during the forecast period. The power outputs of cordless power tools have also evolved that has increased their adoption for professional as well as non-professional applications, thanks to the constant developments in battery technologies. The major driver for increase in demand for cordless power tools includes rise in development in battery technologies. The lithium ion battery packs produced for these cordless power tools have revolutionized the power tool quality, operating life, productivity, and efficiency.
Electric Power Tools Market Key Players:
• Apex Tool Group
• Atlas Copco AB
• Hilti Corporation
• Ingersoll Rand Inc.
• Koki Holding, Co., Ltd.
• Makita Corporation
• Robert Bosch GmbH
• Stanley Black & Decker, Inc.
• Snap-on Incorporated
• Techtronic Industries Co., Ltd.
• Emerson Electric Co.
• Hitachi Koki Holdings Co., Ltd.
• Enerpac Tool Group
• Mac Tools
Secondary research is used to identify industry leaders, and primary research is utilised to estimate market revenue. In-depth interviews with important thought leaders and industry experts, such as seasoned front-line staff and marketing personnel, were conducted as part of the main research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line employees, CEOs, and marketing personnel. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing personnel were conducted as part of the primary study.. The players highlighted in this report are as follows:
Electric Power Tools Market Regional Analysis:
The study covers both qualitative and quantitative data and offers a comprehensive look into the Electric Power Tools industrial sector by area. It gives an overview and forecast of the worldwide Electric Power Tools market by segment. It also forecasts and predicts market sizes for five important regions between 2021 and 2027: North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. Each area's Electric Power Tools market is further subdivided into regions and sectors. The research examines and forecasts a wide range of countries, as well as existing industry trends and prospects.
COVID-19 Impact Analysis on Electric Power Tools Market:
We investigated and analyzed the Global Electric Power Tools Business Expansion Strategy post-COVID-19, using organisational strategic analysis, landscape, category, utilization, and leading countries to encapsulate and analyze the global Electric Power Tools industry's potential, providing statistical data on market trends, growth regulators, major challenges, PORTER analysis, and market entry strategy analysis, prospects, and forecasts. The fundamental purpose of the research is to offer industrial firms a strategic analysis of the impact of COVID-19. Simultaneously, this study assessed significant countries' markets and highlighted their market potential in post-pandemic scenarios.
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Key Questions Answered in the Electric Power Tools Market Report are:
- Which product categories, End Users, and Regions provide the most potential high-growth possibilities in the worldwide Electric Power Tools sector?
- Which Electric Power Tools market categories will grow the most rapidly, and why?
- Which regions will have the most rapid development, and why?
- What are the main factors impacting Electric Power Tools market dynamics? What are the main drivers and challenges in the Electric Power Tools market?
- What are the Electric Power Tools market's vulnerabilities and threats?
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