New report published by QY Research which offers insights on the global Power Tools market. The Power Tools market has been experiencing steady growth graph since past years. During the 2017-2025 timeline, the global market for Power Tools is expected to reflect a 1.6x increase in the revenue growth. In 2018 the global Power Tools market was valued at US$ 25,105 Mn and by the end of the assessment year (2025), it is estimated to touch a value more than US$ 38,596 Mn growing at a value CAGR of 6.34% throughout the period of forecast.
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Global Power Tools Market: Market Driver and Restraint
A power tool is a tool that is actuated by an additional power source and mechanism other than the solely manual labor used with hand tools. The most common types of power tools use electric motors. Internal combustion engines and compressed air are also commonly used. Other power sources include steam engines, direct burning of fuels and propellants, or even natural power sources like wind or moving water. Tools directly driven by animal power are not generally considered power tools.
Power tools are used in industry, in construction, in the garden, for housework tasks such as cooking, cleaning, and around the house for purposes of driving (fasteners), drilling, cutting, shaping, sanding, grinding, routing, polishing, painting, heating and more.
Power tools are classified as either stationary or portable, where portable means hand-held. Portable power tools have obvious advantages in mobility. Stationary power tools however often have advantages in speed and accuracy, and some stationary power tools can produce objects that cannot be made in any other way. Stationary power tools for metalworking are usually called machine tools. The term machine tool is not usually applied to stationary power tools for woodworking, although such usage is occasionally heard, and in some cases, such as drill presses and bench grinders, exactly the same tool is used for both woodworking and metalworking.
Global Power Tools Market: Key Takeaways
· In the industry, Stanley Black&Decker (DeWalt) profits most in 2017 and recent years, while Bosch and TTI ranked 2 and 3.The market share of them is 17.83%, 17.76% and 17.40% in 2017.The gap of market share is keep on enlarged due to different strategy.
Global Power Tools Market: Forecast by Form
Nowadays, there are three mainly types of Power Tool, including Electric power tool, Pneumatic power tool, Hydraulic and other power tool. And electric power tool is the main type for Power Tool, and the electric power tool reached a sales volume of approximately 171.81 M Unit in 2017, with 66.98% of global sales volume.
Global Power Tools Market: Forecast by Region
Europe has the largest global export quantity and manufacturers in Power Tool market, while the United States is the second sales volume market for Power Tool in 2017.
Global Power Tools Market: Key Players
Stanley Black＆Decker (DeWalt), Bosch, TTI, Makita, Hitachi Koki, Hilti, Metabo, Snap-on, DEVON (Chevron Group), Festool, Apex Tool Group, Dongcheng, C. & E. Fein, Zhejiang Crown, Positec Group, Jiangsu Jinding, KEN, are the key vendors included in this report.
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