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The global power tools market is expanding at a significant rate on the back of consumer inclination towards cordless power tools.
This is anticipated to remain the key defining aspect within the power device marketplace. As consistent with future market insights (fmi) analysis the worldwide energy equipment market is anticipated to reach us$ 33.36 bn in 2021.
The demand is predicted to leap as production activities surge around the sector. In keeping with fmi, production programs will account for max income in the market through the forecast period. Besides this, the rising fashion of do-it-yourself sports will fuel income possibilities for the market.
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Key Takeaways from Global Power tool Market Study
“The power tools market is witnessing a strong growth trend, attributing to increasing demand from various end use industries. Key industry participants are focusing on developing partnerships with regional distributors in order to gain a competitive advantage in the evolving global market. To comply with the advent of online sales channel, adoption of e-commerce will create extensive opportunities for market participants during the forecast period.” says FMI analyst.
Global Power tool Market Competitive Landscape
The global power tools market is a highly competitive market owing to the presence large number of global and regional players operating in the market. Manufacturers are focusing on research and development for innovative improvements in their product portfolio, expansion in untapped markets coupled with developing their business via e-commerce platforms to gain a competitive edge. Some of the leading manufacturers in the power tool market are Robert Bosch GmbH, Stanley Black & Decker Inc., Makita Corporation, Techtronic Industries Company Limited, Koki Holding, Co., Ingersoll Rand Inc., Apex Tools, Hilti Corporation, Snap-on Incorporated, among others.
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Valuable Insights into Global Power Tools Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global power tools market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-to 2030. The study divulges compelling insights on the power tools market based on backing product type (drilling tools, fastening tool, heat gun, angle grinder, chain saw, orbital sander, jigsaw, impact wrench, circular saw), technology (electric and pneumatic), application (manufacturing, MRO services, DRO, construction), and sales channel (offline and online) across six regions (North America, Latin America, Europe, East Asia, South Asia, and the Middle East and Africa).
Refrigeration Coolers Market: The global Refrigeration Coolers Market is expected to have a moderate CAGR of 6% during the forecast period to reach a valuation of US$ 6.45 Bn by 2032, up from US$ 3.6 Bn in 2022.
Ductless Heating & Cooling Systems Market: The global Ductless Heating & Cooling Systems Market size is likely to grow at a rate of 8% CAGR during the forecast period of 2022 to 2032
Biocomposites Market: During the assessment period, the global biocomposites market is expected to increase at a robust CAGR of 16%, from US$ 25 Bn in 2021 to US$ 128 Bn in 2032
The post Global Power Tools Market Size Overview & Share | Future Roadmap by 2031: FMI appeared first on Future Market Insights.
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