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Power Tools Market: Projected Growth, Key Players, and Emerging Trends
Power Tools Market
Tapping into the Power Tools Market: A Lean Toward DIY and Manufacturing Expansion
What Is The Projected Market Size Of The Global Power Tools Market And Its Growth Rate?
The power tools market has experienced steady expansion in the current years and continues to pave its way towards further growth:
- The size of the power tools market surged from $41.51 billion in 2024 to $44.36 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 6.9%.
- This growth can be attributed to an increase in the construction and DIY industries, manufacturing expansion, demand for efficient and cordless tools, and an increase in home improvement projects.
- The power tools market size is expected to skyrocket to $59.97 billion in 2029 at a CAGR of 7.8%, driven by the demand for specific trade-related power tool solutions, sustainable designs, development in cordless equipment and innovative smart tools.
What Is Driving The Growth In The Power Tools Market?
Growth in the global power tools market is primarily driven by the burgeoning industrial sector, which covers a vast spectrum of economic activities, involving large-scale production, manufacturing, and processing of goods and services. The rise of various industries, such as automotive, aerospace, and manufacturing, escalates the demand for power tools in production and maintenance. For instance, industrial output in the European area saw a 0.2% increase in July 2023, while a 0.1% rise was reported in the European Union between May and April 2023. Consequently, this industrial sector growth is anticipated to continue driving the power tools market.
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Who Are the Key Players Driving Power Tools Market Growth?
Among the significant players in the power tools market are:
- Stanley Black & Decker Inc.
- Robert Bosch GmbH
- Techtronic Industries Co. Ltd.
- Makita Corporation
- Hilti Corporation
- Atlas Corp.
- Ingersoll Rand Inc.
- Snap-on Incorporated
- Apex Tool Group Corp.
- Hitachi Koki Ltd.
- Emerson Electric Co.
- Enerpac Tool Group Corp.
What Are The Key Trends In The Power Tools Market?
Dominant trends in the forecast period include:
- Smart and IoT-enabled power tools
- Regulatory compliance in power tool safety
- Ergonomic and user-friendly tool designs
- Personalized power tool kits for professionals
- Transparency in tool performance and maintenance
What Are The Segments Of The Global Power Tools Market?
The global power tools market is segmented as follows:
1) Tool Type: Drilling and Fastening Tools, Demolition Tools, Routing Tools, Sawing and Cutting Tools, Material Removal Tools, and Other Tool Types
2) Mode Of Operation: Electric, Pneumatic, and Other Modes of Operations
3) Distribution Channel: Online and Offline
4) Application: Construction, Automotive, Aerospace, Energy, Electronics, and Other Applications
Which Region Leads The Power Tools Market?
The Asia-Pacific region bagged the crown for the largest region in the power tools market in 2024 and is anticipated to be the fastest-growing region in the forecast period. The report also discusses other regions, including Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Power Tools Market Global Market Report?
- Market Size Analysis: Analyze the Power Tools Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Power Tools Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Power Tools Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Power Tools Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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