Power Tool Market: By operation mode (Electric tools, Pneumatic tools), By applications (Household use and Industrial), By geographical regions (North America, Europe, APAC, LATAM, and MEA).
REPORT HIGHLIGHT
By the end of 2019, the power tool market is anticipated to be worth US$ XX million, and it is expected to rise at a CAGR of 3.9 % over the forecast period (2021-2027).
A power tool is a mechanical tool that uses an extra power source and mechanism to execute mechanical tasks. The three types of tools are pneumatic, electric, and hydraulic, with electric tools being the most popular. Drilling, gardening, building, domestic duties, cutting, sculpting, grinding, sanding, polishing, heating, beating, and more are just a few of the applications that tools are utilized for. Electric power tools are either battery-powered or corded devices that are operated by electricity. Some of the most often used electric devices in various activities include cordless drills, hammer drills, band saws, rotary hammers, table saws, heat guns, jigsaws, mitre saws, and dust extractors
MARKET DYNAMICS
In the manufacture and assembly of vehicles, power tools play a significant role. In recent years, the region's automobile production has risen substantially. The reason for this is the region's rapid urbanization and improved economic conditions. Several markets in the industrial automation and equipment business have benefited from the union of economies from Belgium, the Netherlands, and Luxembourg. Several macroeconomic and other factors, such as rising investments in the housing sector, increasing automotive sales, increasing consumer confidence index, the emergence of durable and cost-effective multi-functional power tools, and growing online retail sales, all influence the growth of sales.
The rise in consumer preference for aided devices over hand tools increased sales of professional power tools. Increased penetration of Chinese goods in the market, and the transition from corded to cordless equipment are all key developments in the industry.
Consumer confidence is a metric that measures how likely people are to buy things and use services. Increasing consumer spending on products and services boosts the country's overall economy. Consumer confidence in the Netherlands has improved substantially since the global financial crisis of 2007-2008. Consumer confidence in Belgium steadied in May 2016, according to the National Bank of Belgium, after dropping for four consecutive months. Furthermore, the country's financial position is projected to improve substantially, boosting the use of DIY devices. Consumer confidence in Luxembourg hit an all-time high of 8.8 in March 2016, according to European Economic Projection, and is anticipated to stay steady during the forecast period. Power tool-related accidents and incidents are prevalent in the manufacturing industry and other sectors. As a result, governments in several nations are enacting strict safety regulations that must be followed by both toolmakers and users.
The constant competition among manufacturers has stifled the market's growth to a considerable extent. Imported steel prices are projected to fall, reducing overall imports, and an increase in the number of unfair trade complaints lodged is expected to stifle market expansion throughout the projection period. The rising cost of nickel-cadmium and mercury battery replacements has hampered cordless power tool sales, which is anticipated to limit the market growth. Companies are entering into strategic sourcing agreements with raw material suppliers to shield their operation activities against price volatility.
MARKET SEGMENTATION
The market can be segmented based on the tool operation mode and end-user application.
OPERATION MODE TAKEAWAY
The market has been divided into three categories based on how they operate: electric tools, pneumatic tools, and other tools (such as IC engine, steam-driven, and natural source-driven). Over the projected period, the electric tools market is likely to have substantial growth opportunities. The pneumatic segment is anticipated to grow at the highest rate, both in terms of value and volume, thanks to increased use in industrial applications, with a value CAGR of 4.5 % expected over the projection period.
END-USE TAKEAWAY
The market has been divided into two categories based on end-use: industrial and home tools. The industrial power tools sector is expected to grow at a CAGR of 4.4 % throughout the forecast period, accounting for 57.9% of total value by the end of the forecast period. Household demand is also increasing due to product demand for DIY types and increasing purchase power of households with an expansion of countries’ economies.
COVID-19 IMPACT
COVID-19 pandemic disrupted industrial activities in various parts of the world. Due to containment restrictions and limited people’s movement in domestic as well as international territories, the supply chain for raw material and other OEM components was disrupted for a major period of 2020. Reduced economic activities also affected the earning potential of households. Many of the developing countries which occupy major manufacturing activities were affected heavily due to the widespread of a virus. This led to supply shortages and high costs to customers. Profit margins took a major hit due to limited business and increasing costs during the pandemic period. These developments affected the growth of the power tools market during 2020. Due to early control in some of the countries such as Germany, France, and the Netherlands in Europe, these regions observed a comparatively small effect of the pandemic on the economy.
KEY PLAYERS
Major companies in the market are Einhell German AG, Stanley Black & Decker, SKF, Actuant Corporation, Makita Corporation, Viking GmBH, Danaher Corporation, Robert Bosch GmBH, Hitachi Koki Co. Ltd., Atlas Copco, Metabowerke GmBH, Techtronic Industries, FERM B.V., Snap-On Incorporated, and Metabo AG.
To increase their product range, major industry players are concentrating on product launches. In January 2016, VIKING GmbH, for example, released a robotic mower that can be controlled via a smartphone app. To expand their position in the industry, key industry players are focusing on mergers and acquisitions. For example, Hitachi Koki Co. Ltd., a Japanese toolmaker, purchased Metabo AG in March 2016 as part of its European expansion plan. Due to regional demand in the European market, collaboration with companies in the region can enhance product development for the global makers.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2018
- Base Year – 2019
- Estimated Year – 2020
- Projected Year – 2021 to 2027
TARGET AUDIENCE
- Manufacturers
- Raw Material Suppliers
- Distributors
- Original Equipment Manufacturers
- Consulting Firms
- Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL POWER TOOL MARKET KEY PLAYERS
- Stanley Black & Decker
- SKF
- Actuant Corporation
- Makita Corporation
- Viking GmBH
- Danaher Corporation
- Robort Bosch GmBH
- Hitachi Koki Co. Ltd.
- Atlas Copco
- Metabowerke GmBH
- Techtronic Industries
- Einhell Germant AG
- FERM B.V.
- Snap-On Incorporated.
- Metabo AG
GLOBAL POWER TOOL MARKET, BY OPERATION MODE
- Electrical Tools
- Pneumatic Tools
GLOBAL POWER TOOL MARKET, BY APPLICATION
- Household use
- Industrial
GLOBAL POWER TOOLS MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. GLOBAL POWER TOOL MARKET OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Operating Mode
2.1.2. Market Snippet by Application
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. GLOBAL POWER TOOL KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. GLOBAL POWER TOOL APPLICATION STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. GLOBAL POWER TOOL MARKET: COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. GLOBAL POWER TOOL MARKET LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. GLOBAL POWER TOOL MARKET – BY OPERATING MODE
7.1. Overview
7.1.1. Segment Share Analysis, By Operating Mode, 2020 & 2027 (%)
7.2. Electrical Tools
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.3. Pneumatic Tools
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8. GLOBAL POWER TOOL MARKET – BY APPLICATIONS
8.1. Overview
8.1.1. Segment Share Analysis, By Components, 2020 & 2027 (%)
8.2. Household
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3. Industrial
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9. GLOBAL POWER TOOLS MARKET– BY GEOGRAPHY
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.2.4. North America Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.2.5. North America Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.6.3. U.S. Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.2.6.4. U.S. Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.7.3. Canada Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.2.7.4. Canada Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.3.4. Europe Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.5. Europe Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.6.3. Germany Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.6.4. Germany Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.7.3. Italy Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.7.4. Italy Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.8.3. United Kingdom Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.8.4. United Kingdom Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.9.3. France Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.9.4. France Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.3.10. Rest of Europe
9.3.10.1. Overview
9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.10.3. Rest of Europe Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.10.4. Rest of Europe Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.4. Asia Pacific
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.4.4. Asia Pacific Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.5. Asia Pacific Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.6.3. India Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.6.4. India Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.7.3. China Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.7.4. China Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.8.3. Japan Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.8.4. Japan Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.4.9. Rest of APAC
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.9.3. Rest of APAC Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.9.4. Rest of APAC Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.5.4. Latin America Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.5.5. Latin America Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.6.3. Brazil Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.5.6.4. Brazil Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.7.3. Mexico Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.5.7.4. Mexico Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.8.3. Argentina Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.5.8.4. Argentina Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.5.9. Rest of Europe
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.9.3. Rest of LATAM Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.5.9.4. Rest of LATAM Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.6.4. Middle East and Africa Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.6.5. Middle East and Africa Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.7.3. United Arab Emirates Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.6.7.4. Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
9.6.8. Rest of MEA
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.8.3. Rest of MEA Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.6.8.4. Rest of MEA Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
10. KEY VENDOR ANALYSIS
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. Stanley Black & Decker
10.2.1.1. Company Overview
10.2.1.2. Financial Performance
10.2.1.3. Product Benchmarking
10.2.1.4. Strategic Initiatives
10.2.2. SKF
10.2.3. Actuant Corporation
10.2.4. Makita Corporation
10.2.5. Viking GmBH
10.2.6. Danaher Corporation
10.2.7. Robert Bosch GmBH
10.2.8. Hitachi Koki Co. Ltd.
10.2.9. Atlas Copco
10.2.10. Metabowerke GmBH
10.2.11. Techtronic Industries
10.2.12. Einhell German AG
10.2.13. FERM B.V.
10.2.14. Snap-On Incorporated
10.2.15. Metabo AG.
11. 360 DEGREE ANALYST VIEW
12. APPENDIX
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
