The Power Tools Market in Europe is being driven by Growing popularity of cordless power tools
The Power Tools Market in Europe is expected to grow at a CAGR of 3.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2.14 billion. Power tools in Europe require reliability, low maintenance, long life, and compactness for optimal performance and user experience. Brushless Direct Current (BLDC) motors address these needs by eliminating brushes, resulting in minimal wear and tear and reduced frictional losses. Consequently, BLDC motors generate lower heat levels and exhibit higher energy efficiency compared to Brushed DC motors. Additionally, BLDC motors integrate advanced electronics, safeguarding power tools against overloads and decreasing maintenance requirements, thereby enhancing tool longevity and runtime.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
181 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.6% |
Market growth 2025-2029 |
USD 2.14 billion |
Market structure |
market_structure.ucfirst |
YoY growth 2024-2025(%) |
3.4 |
Key countries |
Germany, France, UK, Belgium, and Rest of Europe |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The European power tools market encompasses various product categories, including battery-powered tools, fastening tools, and cordless equipment. Key industries driving demand are the automotive sector, wind energy, and petrochemical industry. Lithium-ion batteries fuel the growth of battery-powered tools. Professional products like hedge trimmers, string trimmers, lawnmowers, and edgers are in high demand, with moving parts requiring regular maintenance. Raw material prices impact the market, while consumer products cater to DIY enthusiasts.
The European power tools market, a segment of the larger industrial machinery and supplies and components industry, experiences significant growth due to increasing demand from key sectors such as automotive and renewable energy, particularly wind energy. This market encompasses manufacturers of battery-powered power tools. The global industrial machinery and supplies and components market, which includes companies producing presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications, is projected to expand substantially. Key drivers for this growth include expanding industrial output in process and discrete industries, leading to increased capacity additions, and the global demand for energy, chemicals, petrochemicals, pulp and paper products, and processed food and beverages in developing countries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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