The share of the power tools market will be significant in developing areas where increasing levels of construction spending is expected over the next few years. The power tools industry in developed nations is also set to increase due to improved economic conditions and rising construction activity in regions such as North America and Western Europe.
The ergonomic advantages provided by cordless power tools has resulted in these tools to gain an advantage over its conventional counterparts. Due to government regulations, such as the ban on cadmium, demand for cordless electric tools operated with Li-ion batteries is expected to increase through 2021. Other insights provided within our power tools market reports include:
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Within our power tools industry research, we provide deep insights into the market landscape, its segments, and their market share. Our research experts segment the power tools market by mode of operation, tool type, application, and accessories.
By mode of operation, the electric tools market segment accounts for the largest market share owing to their convenience in handling, availability in extremely compact sizes, and significance in a number of end-user applications. Cordless electric power tools are powered by Ni-Cd batteries, however, we expect power tool manufacturers to increase their preference for the adoption of Li-ion batteries owing to their advantages including smaller size and lighter weight.
The surgical power tools market is witnessing steady growth owing to the advent of robotic surgery as surgical tools are increasingly integrated with robots that perform various procedures including minimally invasive surgeries. The orthopedic surgery segment accounts for the largest surgical power tools market share, owing close to 87% of the total shares. Surgical power tools find extensive applications in orthopedic surgeries primarily for sawing and drilling through hard bones.
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We at Technavio, with our comprehensive understanding of the power tools industry, have been monitoring the latest industry trends and developments to create an in-depth portfolio of market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our power tools market reports offer the following insights: