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Global Power Tools Market Share, Growth, Trends, Opportunities, Forecast: By Mode of Operation: Electric, Pneumatic, Others; By Tool Type: Drilling and Fastening Tools, Material Removal Tools, Sawing and Cutting Tools, Demolition Tools, Others; By Application: Industrial, Residential; Regional Analysis; Competitive Landscape; 2023-2028
Global Power Tools Market Outlook
The global power tools market attained a value of over USD 35.93 billion in 2022. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 4.50%.
Key Trends in the Market
Power tools are those tools that are activated by an external power source and mechanism, in contrast to hand tools that exclusively utilise manual force. The most general types of power tools employ electric motors but internal combustion engines as well as compressed air can also be used. With an external power source, power tools are strong and fast, increasing productivity.
- The growing trend of remodelling and renovation in construction projects is expected to boost the utilisation of power tools in the residential sector. This is further expected to increase the power tools market across the globe over the coming years.
- Due to the accessibility of easy-to-operate and user-friendly power tools, the demand for power tools is expected to gain consumer traction in the market. This is a significant aspect to boost the growth rate of household users of power tools.
- An upsurge in the adoption of power tools in the construction and industrial sectors is expected to push forward market growth across the globe during the forecast period.
Market Analysis
Based on the mode of operation, the power tools market can be segmented into electric, and pneumatic, among others. Electric mode of operations is further subdivided based on electric type into corded and cordless. On the basis of tool type, the market is categorised into drilling and fastening tools, material removal tools, sawing and cutting tools, and demolition tools, among others. Based on application, the market is segmented into industrial and residential. The regional markets for power tools can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global Power Tools market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Robert Bosch Tool Corporation
- Stanley Black & Decker, Inc.
- Hilti Corporation
- Atlas Copco AB
- Techtronic Industries Co. Ltd.
- BLACK+DECKER
- Emerson Electric Co.
- Others
Market Share by Application
The industrial segment is holding robust growth in the power tools market share across the globe in terms of application on account of the increasing demands from industries including construction, mining, and aerospace. Going further, the surge innovation and adoption and of advanced technologies among various industries is expected to boost the industrial segment growth in the global market.
The construction and automotive industries hold the highest adoption rate of power tools and are expected to drive the growth of the industrial segment. Meanwhile, the residential segment is expected to propel the market growth on account of the surging interest among consumers for DIY activities and increasing demand for power tools for basic home repairs.
Market Share by Region
Geographically, the Asia Pacific region is expected to augment the power tools market share on account of the surging demand for these tools due to rising industrialisation, urbanisation, and infrastructure development. India is expected to hold significant growth in the market share of power tools due to the rising government support to escalate the capabilities of the automotive and construction industries in the country.
Going further, the surging investments in research and development activities by tool manufacturers to build novel products are enhancing market growth in the Asia Pacific region. In several regions, governments are providing attractive subsidies to enhance manufacturing research and development facilities in their respective jurisdictions to boost tool manufacturing and subsequent sales.
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Competitive Landscape
Robert Bosch Tool Corporation is a United States-based company formed in 2003. Robert Bosch GmbH merged its North American power tool and power tool accessory categories into a single organisation under the name Robert Bosch Tool Corporation. It is a global leader in the manufacture, sale, and design of power tools, power tool accessories, rotary and oscillating tools, range finding tools, and laser and optical levelling devices.
Stanley Black & Decker, Inc. is a leading provider of power tools, hand tools, and outdoor products, among other related accessories, engineered fastening systems and products, automatic doors, and equipment and services for oil and gas and infrastructure applications. Its segments include Tools and Outdoor, and Industrial. The Tools and Outdoor segment includes hand tools, accessories and storage, outdoor power equipment businesses, and power tools.
Hilti Corporation is a global leader in producing and designing cutting-edge technologies, software, and services for the professional construction industry. The company is known for innovation, direct customer relationships, and quality. It covers the whole value-added chain from product development to manufacturing, sales, services, and logistics.
Other market players include Atlas Copco AB, Techtronic Industries Co. Ltd., BLACK+DECKER, and Emerson Electric Co., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Mode of Operation |
|
| Breakup by Tool Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Industry Opportunities and Challenges
8 Global Power Tools Market Analysis
8.1 Key Industry Highlights
8.2 Global Power Tools Historical Market (2018-2022)
8.3 Global Power Tools Market Forecast (2023-2028)
8.4 Global Power Tools Market by Mode of Operation
8.4.1 Electric
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup by Electric Type
8.4.1.4.1 Corded
8.4.1.4.2 Cordless
8.4.2 Pneumatic
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Others
8.5 Global Power Tools Market by Tool Type
8.5.1 Drilling and Fastening Tools
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Material Removal Tools
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Sawing and Cutting Tools
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Demolition Tools
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Power Tools Market by Application
8.6.1 Industrial
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Residential
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Power Tools Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Robert Bosch Tool Corporation
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Stanley Black & Decker, Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Hilti Corporation
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Atlas Copco AB
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Techtronic Industries Co. Ltd.
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 BLACK+DECKER
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 Emerson Electric Co.
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Power Tools Market: Key Industry Highlights, 2017 and 2027
2. Global Power Tools Historical Market: Breakup by Mode of Operation (USD Million), 2018-2022
3. Global Power Tools Market Forecast: Breakup by Mode of Operation (USD Million), 2023-2028
4. Global Power Tools Historical Market: Breakup by Tool Type (USD Million), 2018-2022
5. Global Power Tools Market Forecast: Breakup by Tool Type (USD Million), 2023-2028
6. Global Power Tools Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Power Tools Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Power Tools Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Power Tools Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Power Tools Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Power Tools Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Power Tools Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Power Tools Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Power Tools Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Power Tools Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Power Tools Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Power Tools Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Power Tools Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Power Tools Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Power Tools Market Structure.
Key Questions Answered in the Report
In 2022, the global market of power tools attained a value of over USD 35.93 billion.
The market is assessed to grow at a CAGR of 4.50% between 2023 and 2028.
The major market drivers is the growing construction sector worldwide, and the advantages of power tools over manual tools.
The key power tools market trends include the growing demand from the automotive industry and the increasing trend of DIY among household users.
The various mode of operation of power tools include electric and pneumatic, among others.
The different types of power tools include drilling and fastening tools, material removal tools, sawing and cutting tools, and demolition tools, among others.
The primary applications of power tools include industrial and residential.
The major players in the market are Robert Bosch Tool Corporation, Stanley Black & Decker, Inc., Hilti Corporation, Atlas Copco AB, Techtronic Industries Co. Ltd., BLACK+DECKER, and Emerson Electric Co., among others.
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