Albany, NY -- (SBWire) -- 01/17/2019 --As per a new study by Transparency Market Research (TMR), the global power tools market exhibits a highly concentrated vendor landscape. The leading four players in the market, comprising Makita Corporation, Robert Bosch GmbH, Stanley Black and Decker Inc., and Hilti, held a share of around 70% in 2014. Of these, Robert Bosch GmbH emerged dominant accounting for just short of 30% of the market in 2014.

These companies are currently focusing on product innovation as the primary growth strategy. Among the various application segments, the leading companies have been capitalizing on opportunities exhibited by the construction industry. Besides this, the automotive industry has also been exhibiting lucrative prospects for the enterprises operating in the market.

Infrastructural Development in India and China to Create Bevy of Opportunities

As per a TMR analyst, "The need for urbanization is a primary factor driving the global power tools market." "The rapid development witnessed across emerging economies is creating demand for power tools in order to pace up the development process," he added. These tools are used for various purposes such as drilling, screw driving, mining, chiseling, and sanding. Their demand is therefore expected to surge in countries witnessing robust infrastructural development such as India and China.

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Since infrastructural development is at the core of urban development, the application of power tools across the construction industries of emerging economies is expected to rise considerably. TMR therefore expects the opportunities for sales of power tools to be extremely lucrative in Asia Pacific.