Precision Business Insights has published a report on the global power tools market, estimating its value at USD 41.3 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 3.5% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/power-tools-market
The Power equipment Market is a global industry that focuses on equipment powered by external sources such as electricity, batteries, compressed air, or internal combustion engines. Drills and saws, as well as grinders and impact wrenches, are critical equipment in the construction, manufacturing, automotive, aerospace, and DIY industries.
Drivers:
- Rising global investment in residential, commercial, and industrial construction fuels demand durable and efficient power tools.
- Growing consumer interest in home renovation and hobbyist projects boosts demand for user-friendly, compact power tools.
The global power tools market segmentation:
1) By Technology: Electric [Corded, Cordless], Pneumatic, and Hydraulic
2) By Application: Construction, Automotive, Aerospace, Energy, DIY/Home Use, and Manufacturing
3) By Sales Channel: Offline and Online
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Regional Overview:
The report also examines the current concerns and their Future Effects on the power tools market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the power tools market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
The competitive landscape is dominated by major players like Bosch, Stanley Black & Decker, Makita Corporation, Hilti Corporation, Techtronic Industries, DEWALT, Metabo HPT, Snap-on Incorporated, RIDGID, Festool
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