WiseGuyReports.Com Publish a New Market Research Report On –“ Power Tools Industry Production and Demand, Competition News and Trends Forecasts to 2024”.
PUNE, INDIA, November 29, 2019 /EINPresswire.com/ —
The global power tools market is expected to grow at a good rate in the near future. The study focuses on the future prospects of the market based on reliable past data and expected trends according to the motivating and restraining factors influencing the market. A power tool is an instrument that is activated by an additional power source and process other than the manual labor that was used with hand tools. Some of them use components like electric motors, internal combustion engines and compressed air.
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Listed Key Players
Stanley Black & Decker
Techtronic Industries (Tti)
Apex Tool Group
C. & E. Fein
Illinois Tool Works (Itw)
Tts Tooltechnic Systems (Festool)
The increasing demand for automation has transformed the adoption of power tools technology and contributed to the growth of the global power tools technology market. Pneumatic and powder-actuated technologies are in the beginning stage of the development process and further innovations in this field would significantly boost the growth of the power tools market. However, various factors are expected to influence the global power tools market negatively. Unstable economic situation in the Middle Eastern countries negatively affects the global power tools market owing to fluctuating disposable income. There is also a decline in the construction and automotive industry in China which is expected to hinder the growth of the power tools market due to it being an allied industry. Rising concerns for human safety and increasing government regulations related to it also hinders the adoption of power tools which directly impacts the market.
The power tools market is segmented by mode of operation, end users and tool types. The power tools market is segmented by mode of operation as electric power tools and pneumatic power tools. The electric power tools are further segmented as corded and cordless. The power tools market is segmented by end users as residential and commercial. The global power tools market is segmented on the basis of tool types as drilling and fastening, demolition, sawing and material removal.
Regionally, the global power tools market is divided as North America which includes US, Canada and Mexico, Europe which includes Germany, Italy and others, Asia Pacific which includes China, India and others, Central and South America which includes Brazil and others, Middle East and Africa. North American market is estimated to dominate the global market during the forecast period owing to the significant growth in construction, production and automotive industries. The market in Asia Pacific is projected to elevate at a remarkable rate which can be attributed to elevation in DIY techniques, stunted product penetration, investments in infrastructure and increase in disposable income.
November 2019: Irwin, which is a leading manufacturer of innovative hand tools and power tool accessories, introduced the launch of its next generation sets that are noticeable, stackable and approachable. The sets are designed to provide professionals a distinct view of the accessories cooped inside without sacrificing the sturdiness needed to withstand jobsite conditions.
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Table of Contents – Major Key Points
Section 1 Power Tools Product Definition
Section 2 Global Power Tools Market Manufacturer Share and Market Overview
Section 3 Manufacturer Power Tools Business Introduction
Section 4 Global Power Tools Market Segmentation (Region Level)
Section 5 Global Power Tools Market Segmentation (Product Type Level)
Section 6 Global Power Tools Market Segmentation (Industry Level)
Section 7 Global Power Tools Market Segmentation (Channel Level)
Section 8 Power Tools Market Forecast 2019-2024
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Source: EIN Presswire