Power Tools Market Analysis: Size, Trends, and Forecast
Power Tools Market Overview
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:
Power Tools Market Research Insights
- The market share for cordless power tools is expected to grow rapidly in the coming years as technological innovations will increase power and operation time.
- The DIY trend – especially in North America - will drive the demand for cordless power tools. These tools are used in both industrial and residential applications.
- Rapid industrialization and urbanization will propel the overall growth of the power tools market as these tools have a major role in construction, design, survey, and maintenance.
- Wireless battery charging technology, and a switch from Ni-Cd to Li-ion battery chemistry are two of the key trends expected to gain traction in the market through 2021.
- The US is the largest consumer and second largest producer of power tools. This is primarily because the country is home to industries such as construction, manufacturing, and vehicle production that employ power tools.
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Power Tools Market Share and Segmentation Analysis
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.
Electric Power Tools Market
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.
Surgical Power Tools Market
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.
Our personal protection equipment market segmentation research offerings include:
- Power Tools by Mode of Operation
- Electric Power Tools Market
- Corded Power Tools Market
- Cordless Power Tools Market
- Pneumatic Power Tools Market
- Others
- Hydraulic Power Tools Market
- Power-Actuated Power Tools Market
- Electric Power Tools Market
- Power Tools by Tool Type
- Drilling and Fastening Power Tools Market
- Demolition Power Tools Market
- Sawing and Cutting Power Tools Market
- Material Removal Power Tools Market
- Routing Power Tools Market
- Others
- Measuring and Layout Power Tools Market
- Laser Power Tools Market
- Dust Power Tools Market
- Glue Power Tools Market
- Heat Power Tools Market
- Power Tools by Application
- Industrial Applications
- Power Tools Market in the Construction Industry
- Power Tools Market in the Automotive Industry
- Power Tools Market in the Aerospace Industry
- Power Tools Market in the Energy Industry
- Power Tools Market in the Shipbuilding Industry
- Others
- Power Tools Market in the Oil & Gas Industry
- Power Tools Market in the Electronics Industry
- Power Tools Market in the Mining Industry
- Power Tools Market in DIY Applications
- Industrial Applications
- Power Tools Accessories Market
- Stamped metal products
- Cutlery
- Fasteners
- Springs
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:
- Power tools market outlook
- Power tools market trends
- Power tools market size
- Power tools market share
- Power tools market growth
- Power tools vendor landscape
- Power tools industry statistics
