The global power tool accessories market was worth US$9570 mn in 2018 and the report suggests that the market will reach US$11800 mn by 2025, registering a moderate CAGR of 3.1%. The increasing industrial applications are expected to drive the global power tool accessories market at a steady rate.
The team of QY Research analysts has published a detailed report of the market, titled “Global Power Tool Accessories Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.” The research report details the trajectory of the overall market for the forecast period.
Global Power Tool Accessories Market: Drivers
The global power tool accessories market is growing in a steady manner with rapid industrialization. The power tool accessories are being used in different industries such as construction, manufacturing, and automotive sectors. Growing demand for buildings and new construction activities in emerging economies is expected to drive the global power tool accessories market in the near future. These tools ensures accuracy, perfection, and efficiency in performing laborious tasks. The growing demand for electronic vehicles to reduce pollution is projected to stoke the demand for power tool accessories in the automotive industry, predicts report.
Global Power Tool Accessories Market: Segment Analysis
The global power tool accessories market is segmented on the basis of type and application. In terms of type, the market is segmented into drill bits, router bits, screwdriver bits, jigsaw blades, circular saw blades, band saw blades, reciprocating saw blades, and abrasive wheels. In terms of application, the market is segmented into hole saws, wire wheels and brushes, miter saw blades, abrasive sanding discs, sander backing pad, and sandpaper. Interestingly, all the segments have their individual market, which are expected to create a positive impact on the global power tool accessories market.
Global Power Tool Accessories Market: Regional Analysis
On the basis of region, the global power tool accessories market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. The report predicts that Asia Pacific will present the most lucrative opportunities to the overall market in the coming years as it witnesses a booming automotive industry. Meanwhile, Europe and North America are also projected to grow at a significant rate as the demand for l power tool accessories will be driven by modernization.
Global Power Tool Accessories Market: The Key Players
The key players studied in the global power tool accessories market are Hilti, Stanley Black & Decker Techtronic, Bosch, Makita, Hitachi Koki, Snap-on, Baier, Klein Tools, and Husqvarna.
Bosch’s latest inclusions are GSB18V-535C Hammer Drill/Driver and Bosch GSR18V-535C Drill/Driver, which are combined with advanced user control with a compact, powerful cordless tool. These tools feature Bluetooth connectivity that acts as an optional connectivity tool module, which links to the free Bosch Toolbox App. Such innovative products will help companies to stay strong amid tough global competition.
Full Report Overview@ https://www.qyresearch.com/index/detail/1076319/global-power-tool-accessories-market