Power Tools Market Trends, Growth, Analysis, 2021-2030 | Impact of Covid-19 with the best leading players
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PORTLAND, OR, USA, Jan 9, 2022 /EINPresswire.com/ – The global power tool industry is expected to experience significant growth due to factors such as increased adoption of power tools in the industry construction, the integration of motors into power tools and the growth in popularity of cordless power tools. However, the high initial cost of power tools is expected to hold back the growth of the market.
According to a new report released by Allied Market Research titled “Power Tools Market by Product Type and End User Industry: Analysis of Global Opportunities and Industry Forecast, 2021-2030,” The Global Power Tools Market is expected to generate revenues worth $ 24.1 billion in 2020 and is expected to reach $ 49.2 billion by 2030, registering a CAGR of 6.8% during the forecast period.
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Key factors driving the growth of the global power tools market include increased adoption of power tools in construction industry, integration of brushless motors in power tools, and growing popularity of power tools wireless. However, the high initial costs of power tools compared to pneumatic tools are expected to hamper the market growth to some extent.
The construction industry is one of the major consumers of power tools, therefore, the introduction of power tools has benefited the construction industry, providing features such as portability, ease of use use in remote locations and high productivity. Thus, the adoption of power tools has grown considerably; thus stimulating the growth of the power tool market.
In addition, the integration of brushless motors in power tools has greatly improved the productivity of power tools. Brushless motors eliminate the generation of friction; thus providing more power in the same input voltage. This ultimately improves the performance of the power tool. As a result, the introduction of brushless motors in power tools propels the use of power tools for heavy professional operations; which is driving the growth of the power tools market globally.
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Key market players
Apex Tool Group
Atlas Copco AB
Ingersoll Rand inc.
Koki Holding, Co., Ltd.
Robert Bosch GmbH
Stanley Black & Decker, Inc.
Techtronic Industries Co., Ltd.
The report provides in-depth analysis of current and emerging trends and dynamics of the global power tools market.
A thorough market analysis is performed by estimates of the global power tools market for the global market segments between 2020 and 2030.
In-depth analysis of the global power tools industry is performed by tracking key product positioning and monitoring major competitors within the market framework.
A comprehensive analysis of all regions is provided to determine existing opportunities.
The forecast analysis of the global power tools market from 2021 to 2030 is included in the report.
Major players of the Power Tools market are presented in this report and their strategies are analyzed in depth, which helps in understanding the competitive outlook of the global market.
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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
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