Global Power Tools (Electric & Pneumatic) Market Research Report forecast 2020-2024
Summary - A
new market study, titled “Global Power Tools
(Electric & Pneumatic) Market: Insights & Forecast with Potential
Impact of COVID-19 (2020-2024)” has been featured on Wise Guy Reports.
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 remodeling and renovation
projects are expected to drive the market. However, growth of the industry will
be challenged by 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 in future
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. Asia Pacific represents the fastest
growing market for power tools with 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 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 Target Audience:
• Power Tools Manufacturers
• Construction Industry
• Automotive Industry
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5557121-global-power-tools-electric-pneumatic-market-insights-forecast
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