The global power tools market to grow at a CAGR of 4.77% during the period 2017-2021.
Albany, NY -- (SBWIRE) -- 03/14/2018 -- Power tools are mechanical or electromechanical equipment that draw electricity from an external power source, without the application of manual labor to achieve a specific action. Power tools are commonly used in the construction and manufacturing industries to perform activities such as drilling, sawing, grinding, screwing, and cutting. However, application areas for power tools are diverse and wide, depending on the end-user and the industry. Power tools are used to increase the efficiency of manual operations, thereby increasing worker productivity and saving time. There are also several end-user applications that require the use of customized power tools to perform specific tasks.
Covered in this report
The report covers the present scenario and the growth prospects of the global power tools market for 2017-2021. To calculate the market size, the report considers the sales revenue.
Market driver : Rise in global construction and infrastructure development activities
Market challenge : Volatility in prices of raw materials
Market trend : Wireless battery charging technology
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The market is divided into the following segments based on geography:
Technavio's report, Global Power Tools Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Apex Tool Group
Stanley Black & Decker
Other prominent vendors
C. & E. Fein
CHERVON (China) Trading
Evolution Power Tools
Illinois Tool Works
Master Air Tool
Nemo Power Tools
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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?