Power Tools Market Overview and Future Trends
The global power tools market size is expected to grow from USD 34.3 billion in 2021 to USD 45.2 billion by 2026, at a CAGR of 5.7%. The growth of the market is attributed to the high demand for power tools in automotive industry as well as surging demand for electric fastening tools in industrial environment. However, factors such as high repair and replacement parts cost of power tools and fluctuations in raw material prices are restraining the market growth.
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