Global Power Tools Market was valued at USD 30.25 billion in 2019 which is expected to reach USD 45.12 billion by 2027 at a CAGR 4.88%.
The power tool is equipment which actuated by additional power source like electric motor, compressed air, and IC engines. These tools are used for various applications in shipbuilding, construction, automotive industry, and energy. Also, power tools have commercial as well as industrial application like cutting, shaping, sanding, drilling, routing, painting, polishing, and heating etc. Power tools are available in various forms such as Demolition Tools, Routing Tools, Material Removal Tools, Sawing and Cutting Tools, and Drilling and Fastening/Driving Tools.
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Increase in adoption of DIY techniques and investments in infrastructural developments which are expected to boost the global power tools industry. Also, increase in disposable income of people will have the positive impact on global power tools market growth. Furthermore, continuous progressions in the power tools industry by key competitors which are expected to propel the growth of power tools industry.
However, high maintenance cost and raw material price fluctuations are the restraining factors which are expected to hamper the global power tools market growth.
Global Power Tools Market is segmented into tool such as Demolition Tools, Routing Tools, Material Removal Tools, Sawing and Cutting Tools, Drilling and Fastening/Driving Tools, and Others, by mode of operation such as Electric, Pneumatic, and Others. Further, Global Power Tools Market is segmented into application such as Residential, and Industrial/Professional.
Also, Global Power Tools Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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• Demolition Tools
• Routing Tools
• Material Removal Tools
• Sawing and Cutting Tools
• Drilling and Fastening/Driving Tools
By Mode of Operation
• North America
• Latin America
• Asia Pacific
• Middle East & Africa
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