December 24th, 2022
Power Tools and Hand Tools Market size is projected to reach USD 10.7 Billion by 2028 from an estimated USD 8.6 Billion in 2021, growing at a CAGR of 3.1% globally.
Power tools and hand tools are a common part of our everyday lives and are present in around every industry. These tools are utilized to easily perform tasks that otherwise would be difficult or impossible. Nevertheless, these simple tools can be harmful and have the potential for causing serious injuries when utilized or maintained improperly. Special attention toward hand and power tool safety is necessary to overcome or eliminate these hazards. Power tools comprise varieties of tools, which are added with some additional power to perform particular tasks. The electric motor is the most common kind of power tool. Some examples of the power tools are grinders, drills, saws, sanders, oscillating and rotary tools, woodworking power tools, concrete power tools, compressors, and accessories. Hand tools are functioned by hand only and not by any electric machine. Some of the hand tools are hammers, garden forks, hook cutters, plumbing tools, rakes, secateurs, spanners, pliers, wrenches, clamps, screwdrivers, and chisels. Hand tools are generally less harmful than power tools. Hand and power tools are generally used in almost every industry including manufacturing, gardening, healthcare among others.
To recap, the report's writers examined the Power Tools and Hand Tools market through several segmentations, followed by an in-depth study of the industry supply and sales channel, including upstream and downstream fundamentals, to help firms efficiently roll out their goods and solutions to the market. This in-depth market analysis employs a variety of technologies to examine data from numerous primary and secondary sources. It can assist investors to find scope and possibilities by providing insight into the market's development potential. The report also goes over each section of the global Power Tools and Hand Tools market in detail. The analysts thoroughly researched the market and created key segmentation such as product type, application, and geography. The market share, growth potential, and CAGR of each segment and its sub-segments are also examined. Each market category provides in-depth quantitative and qualitative market perspective information.
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Key Industry Players in Power Tools and Hand Tools Market:
· Bosch (Robert) GmbH
· Actuant Corporation
· AIMCO Corporation
· Atlas Copco AB
· Allied Trade Group (ATG) Stores
· Alltrade Tools LLC
· AMES Companies
· Apex Tool Group LLC
· DEPRAG-Schulz GmbH and Company
· Black & Decker
· Garden Weasel
· Stanley Black & Decker
· Chervon Holdings Limited
· Chicago Pneumatic Tool
· Danaher Corporation
· Daniels Manufacturing Corporation
· Del City Wire
· Channellock Incorporated
· DeWALT Industrial Tools
· E&R Industrial Sales and other major players.
Hand and power tools market is at a growing age currently due to increase in use of hand and power tools in do it yourself activities. Moreover, major factors driving the world hand tools market include increase demand from automotive maintenance and repair sector along with advancements in the production technology of hand and power tools. Also, increasing use of hand and power tools in industrial applications is another factor driving the overall market. However, low profit margin due to acute competition and lack of skilled professionals are some key challenges restraining the growth of the world hand and power tools market.
Segmentation Analysis Includes,
· Power Tools
· Hand Tools
By Distribution Channel:
· Online Sales
· Offline Sales
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
· South America (Brazil, Argentina, Rest of SA)
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Reasons to Purchase this Market Report:
· Market forecast analysis through recent trends and SWOT analysis
· Power Tools and Hand Tools Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
· Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
· Power Tools and Hand Tools Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
· Competitive environment related to the Power Tools and Hand Tools market share for key players, along with new projects and strategies that players have adopted over the past five years.
Based on mode of operation, the global power tools market is segmented into electric, pneumatic, and others. The electric segment is further sub-segmented into cordless and corded. The electric segment accounted for a significant revenue share in 2021 owing to ease of flexibility and effectiveness of operation of electric tools. In addition, introduction of powerful batteries has led to an increasing demand for electric tools.
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Hand and power tools are those instruments deployed in various mechanical tasks like cutting, carving, ploughing, drilling etc. Hand tools are mechanically hand driven and require no power or energy for their operation whereas power tools are either electrically driven or air driven. Hand and power tools are generally used in almost every industry including manufacturing, gardening, healthcare among others. Various safety concerns related to the use of hand and power tools are kept in mind while their use.
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