Power Tools Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Technology (Electric, Pneumatic, Engine Driven, Others) By End User (Non-Residential (Automotive, Construction, Aerospace, Mining, Others), Residential), And Geography - Forecasts From 2019 to 2024

The global power tools market was valued at US$31.816 billion in 2018 and is projected to expand at a CAGR of 4.01% over the forecast period to reach US$40.292 billion by 2024. A power tool is a device or machine powered by an additional source or mechanism other than the human body. Urbanization has played a significant role in the increased use of power tools and machinery in order to reduce human effort and simplify work for people. With the advancement in smart technologies and the development of low-cost, energy-efficient tools, its usage has increased to such an extent that now it is used everywhere- be it in Houses, Gardens, Garages, Construction sites and etc.

Rising global construction and infrastructure activities, steady growth in the automotive sector, and growing demand for home-improved products are the key factors that are driving the growth of the Power Tools Market. DIY (Do it Yourself) is also gaining ground in developed and developing countries. The adoption of power tools by DIY customers is another factor that has helped in the growth of this market. 

By Technology

With respect to technology, the global market is segmented as electric power tools, engine-driven power tools, pneumatic power tools, powder actuated, and hydraulic power tools. Electric power tools dominate the global market in terms of value. Pneumatic and powder-actuated power tools are still emerging as alternatives to electric power tools in industries. Although commercial production of Pneumatic tools is still low due to their high price.

By End Industry

With respect to end-users, the global market is segmented into Non-Residential (Industrial) Users and Residential Users. Automotive, Aerospace, Construction, Mining and etc. come under Non Residential Users. The emerging concept of DIY (Do it yourself) and home improvement tools in emerging markets have created a new customer base for this market. 

By Geography

Geographically, the Global Power Tools market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. North America, Asia –Pacific, and Europe are considered to be the largest market whose growth has risen due to the development of low-cost and efficient power tools, rising demand for home improved tools in both developed and developing countries, and rising construction activities around the world.

Competitive Intelligence

The global power tools market is competitive owing to the presence of well-diversified global and regional players. The global key players are Emerson, Stanley Black & Decker, Inc., Hitachi Koki Co., Ltd., OTTO BAIER GmbH, and Techtronic Industries Co. Ltd, among others.

Power Tools Market Scope:

Report Metric	Details
Market size value in 2018	US$31.816 billion
Market size value in 2024	US$40.292 billion
Growth Rate	CAGR of 4.01% from 2018 to 2024
Base year	2018
Forecast period	2019–2024
Forecast Unit (Value)	USD Billion
Segments covered	Technology, End User, And Geography
Regions covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered	Emerson, Stanley Black & Decker, Inc., Hitachi Koki Co., Ltd., OTTO BAIER GmbH, Techtronic Industries Co. Ltd., Robert Bosch Tool Corporation, Hilti, Makita Corporation, Atlas Copco, Illinois Tool Works Inc.
Customization scope	Free report customization with purchase

Segmentation

The global power tools market has been analyzed through following segments:

 

By Technology

• Electric

• Pneumatic

• Engine Driven

• Others 

By End User

• Non-Residential

• Automotive

• Construction

• Aerospace 

• Mining

• Others

• Residential

By Geography

• North America

  • United States

  • Canada

  • Mexico 

• South America

  • Brazil

  • Argentina

  • Others

• Europe

  • Germany

  • France

  • Italy

  • United Kingdom

  • Others

• Middle East and Africa

  • Israel

  • Saudi Arabia

  • UAE 

  • Others

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Others

---

Frequently Asked Questions (FAQs)

Q1. What will be the power tools market size by 2024?
A1. The power tools market is projected to reach a market size of US$40.292 billion by 2024.

Q2. What is the size of the global power tools market?
A2. Power Tools market was valued at US$31.816 billion in 2018.

Q3. What are the growth prospects for the power tools market?
A3. The global power tools market is projected to expand at a CAGR of 4.01% over the forecast period.

Q4. What factors are anticipated to drive the power tools market growth?
A4. Rising global construction and infrastructure activities, steady growth in the automotive sector, and growing demand for home improved products are the key factors that are driving the growth of the power tools market.

Q5. Who are the major players in the power tools market?
A5. The global key players in the power tools market are Emerson, Stanley Black & Decker, Inc., Hitachi Koki Co., Ltd., OTTO BAIER GmbH, and Techtronic Industries Co. Ltd, among others.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Currency

1.5. Assumptions

1.6. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY 

2.1. Research Process And Design

2.2. Research Assumptions

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

4.1. Market Segmentation

4.2. Market Drivers

4.3. Market Restraints

4.4. Market Opportunities

4.5. Porter’s Five Force Analysis

4.5.1. Bargaining Power Of Suppliers

4.5.2. Bargaining Power Of Buyers

4.5.3. Threat Of New Entrants

4.5.4. Threat Of Substitutes

4.5.5. Competitive Rivalry In The Industry

4.6. Life Cycle Analysis- Regional Snapshot

4.7. Market Attractiveness

5. POWER TOOLS MARKET BY TECHNOLOGY

5.1. Electric Power Tools

5.2. Pneumatic Power Tools

5.3. Engine Driven Power Tools

5.4. Others

6. POWER TOOLS MARKET BY END-USER

6.1. Non-Residential

6.1.1. Automotive

6.1.2. Aerospace

6.1.3. Construction

6.1.4. Mining

6.1.5. Others

6.2. Residential

7. POWER TOOLS MARKET BY GEOGRAPHY

7.1. North America

7.1.1. United States

7.1.2. Canada

7.1.3. Mexico

7.2. South America

7.2.1. Brazil

7.2.2. Argentina

7.2.3. Others

7.3. Europe

7.3.1. Germany

7.3.2. France

7.3.3. Italy

7.3.4. United Kingdom

7.3.5. Others

7.4. Middle East and Africa

7.4.1. Israel

7.4.2. Saudi Arabia

7.4.3. UAE

7.4.4. Others

7.5. Asia Pacific

7.5.1. Japan

7.5.2. China

7.5.3. India

7.5.4. Australia

7.5.5. South Korea

7.5.6. Others

8. COMPETITIVE INTELLIGENCE

8.1. Competitive Benchmarking and Analysis

8.2. Recent Investments and Deals

8.3. Strategies of Key Players

9. COMPANY PROFILES

9.1. Emerson

9.2. Stanley Black & Decker, Inc.

9.3. Hitachi Koki Co., Ltd.

9.4. OTTO BAIER GmbH

9.5. Techtronic Industries Co. Ltd.

9.6. Robert Bosch Tool Corporation

9.7. Hilti

9.8. Makita Corporation

9.9. Atlas Copco

9.10. Illinois Tool Works Inc.

9.11. Apex Tool Group, LLC

9.12. Snap-on Incorporated

9.13. Ingersoll-Rand plc

9.14. Panasonic Electric Works Europe AG

9.15. Positec Tool Corporation

9.16. Milwaukee Electric Tool Corporation

9.17. 3M

List of Figures

List of Tables

Emerson

Stanley Black & Decker, Inc.

Hitachi Koki Co., Ltd.

OTTO BAIER GmbH

Techtronic Industries Co. Ltd.

Robert Bosch Tool Corporation

Hilti

Makita Corporation

Atlas Copco

Illinois Tool Works Inc. 

Apex Tool Group, LLC

Snap-on Incorporated

Ingersoll-Rand Plc

Panasonic Electric Works Europe AG

Positec Tool Corporation

Milwaukee Electric Tool Corporation

3M