Latest News- Power Tools Market: Industrial is expected to lead the End-user segment during 2025-2029

The Power Tools Market is being driven by Rise in global construction and infrastructure development activities

The Power Tools Market is expected to grow at a CAGR of 7.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 17092.3 million. In the dynamic global power tools market, there is a prevailing trend towards integrating web and digital connectivity into power tools. Notable brands, such as DEWALT, a subsidiary of Stanley Black and Decker Inc., have adopted smart technologies, including Bluetooth functionality. This innovation facilitates communication between power tools and smartphones, enabling tool custodians to monitor tool status and ensure security. DEWALT's Bluetooth-enabled batteries, synced with a smartphone application, alert owners if a tool goes out of range and allow for remote battery disabling to prevent unauthorized usage. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Industrial
  • Residential
• Technology
  • Electric
  • Pneumatic
  • Others
• Product
  • Drills
  • Saws
  • Grinders
  • Others
• Distribution Channel
  • Offline
  • Online
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in global construction and infrastructure development activities
• Technological innovation accelerating replacement demand
• Growing demand for home improvement products

However, the market also witnesses some limitations, which are as follows:

• Volatility in prices of raw materials used in production of power tools
• High cost of power tools
• High availability of substitutes

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Market Scope in Power Tools Market Research Report

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Research Analysis Overview

The Power Tools Market offers a wide range of advanced features for optimal performance. These include variable speed control, adjustable clutch settings, and customizable impact rates. Additionally, tools come with blade depth adjustment, cutting capacity indicators, and interchangeable sanding grits. Grinding wheel sizes and router bit diameters can also be adjusted. Planer cutting depth, air pressure, and air flow rate are also customizable. Other features include tool-free adjustments, ergonomic grips, trigger locks, and laser guidance. LED worklights, noise reduction, and vibration dampening enhance user experience. Dust extraction, blade guards, and kickback protection ensure safety. Tool storage, carrying cases, maintenance intervals, spare parts availability, repair services, product lifecycle management, recyclable materials, and energy efficiency are essential considerations for long-term use.

Market Research Overview

The Power Tools Market encompasses cordless drills, impact drivers, circular saws, and reciprocating saws, which fall under the broader category of power tools within the global electrical components and equipment market. This market includes companies involved in the production of electrical cables and wires, electrical components, and electrical equipment. According to Technavio, the global electrical components and equipment market size is determined by the consolidated revenue generated from manufacturers of various sub-segments such as water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Moreover, the market also considers the revenue generated from renting and leasing electrical components and equipment to industrial, commercial, and residential end-users.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/