The global electric power tools market was valued at US$ 25.8 billion in 2021 and it is anticipated to grow up to US$ 50.3 billion by 2031, at a CAGR of 6.8% during the forecast period.
Global Electric Power Tools Market report from Global Insight Services is the single authoritative source of intelligence on Electric Power Tools Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Electric power tools are used in several industries, including in construction, manufacturing, or material modification activities. The advancements in electric power tools have provided ease and saved operation time. Thus, the multiple functionalities of electric power tools make them suitable for use in various applications, including residential and commercial establishments. Moreover, various power capacities offer electric power tools in both corded and cordless platforms.
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Market Drivers and Trends
The impact of the 2020 recession has been observed across the global economy and the global engineering and construction (E&C) industry. In 2022, the E&C sector will have a big role in supporting any nation’s growth plan. According to the Infrastructure Investment and Jobs Act (IIJA), with increasing investments across healthcare, public safety, and other public infrastructure are expected to bode well for the E&C firms and are likely to accelerate recovery across the non-residential segment. Furthermore, the residential segment is expected to stay strong and exhibit similar activity as it did in 2021. Further, in India, according to Invest India website, the Indian government continuously focuses on the development of infrastructure and construction services through multiple policies such as open foreign direct investment (FDI) norms, large budget allocation to the infrastructure sector, and the smart cities mission.
Global Electric Power Tools Market Segmentation
By Product Type
- Corded Power Tools
- Cordless Power Tools
By End-User Industry
- Construction
- Automotive
- Aerospace
- Others
By Region
- North America
- The U.S.
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Key Players
- Apex Tool Group, LLC (US)
- Atlas Copco AB (Sweden)
- Hilti India Pvt. Ltd. (India)
- Ingersoll Rand Inc. (US)
- Koki Holdings Co., Ltd. (Japan)
- Makita Power Tools India Pvt. Ltd. (India)
- Robert Bosch GmbH (Germany)
- Stanley Black & Decker, Inc. (US)
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