3 Key Insights on the US$ 50 Billion Opportunity in the Global Power Tools Market: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Driven by the Rising Manufacturing and Construction Industry, and Adoption of Power Tools in Household Applications. The Global Power Tools Market is forecasted at approximately US$ 50 Bn by 2028 says Ken Research Study. Power tools are the equipment used to cut, wrench, saw drill, and polish materials. Power tools are classified as stationary power tools and portable power tools. Stationary power tools are used for precision, strength, and smoothness such as table saw machines, drill presses, band saws, and others. Portable power tools are used for low weight, minimal heat generation, and longer time span of the machine such as wrenches, and drill machines. “Ken Research shares 3 key insights on this high-opportunity market from its latest research study.” 1. Emerging Construction and Manufacturing Industry Worldwide, Is Likely to Propel the Growth of the Power Tools Market. According to Ken Research Analysis, the Global Power Tools Market was valued at US$ 25 billion in 2017, it is estimated to be ~US$ 35 billion in 2022 and is forecasted to reach a market size of ~US$ 50 billion opportunities by 2028, owing to the surging construction and manufacturing industry. Multiple power tools are used in the manufacturing industry such as impact wrenches, electric screwdrivers, handheld portable grinders, sockets, pliers, and others. According to Indian Machine Tool Manufacturers Association, the apex industry body for the machine tools sector in India mentioned that the national capital goods policy envisages increasing production of capital goods from ~ US$ 28 billion in 2014-15 to ~ US$ 91 billion by 2025. Capital goods include machine tools, textile machinery, moulds and press tools, printing and packaging machinery, and others. It envisages increasing export from the current 27% to 40% of production while increasing the share of domestic production in India’s demand from 60% to 80%. 2. Rising Usage of Power Tools in Automotive is Driving the Growth of the Market. Power tools are mostly used by vehicle manufacturers as well as repair and maintenance service providers in the automotive industry. Power tools help in decreasing the time linked with these redundant tasks, along with delivering increased efficiency. In car production over 55 different types of power tools are used including torque wrenches, impact drivers, air wrenches, power drills, polishing machines, air compressors, spray guns, and others. As per the International Organization of Motor Vehicle Manufacturers (OICA), an organization working in the interest of vehicle manufacturers and assemblers stated that China’s vehicle production increased by 3% from approximately 25 million units in 2020 to approximately 26 million units in 2021. 3. Fluctuating Prices and Disruption in the Supply of Raw Materials is Likely to Restrain the Power Tools Market. Steel, aluminum, zinc, and others are the key material used in manufacturing power tools. Apart from this, batteries, motors, and other electronic components are used in the production of power tools. During COVID-19, the prices of materials have declined significantly but as the demand surged and supply reduced, the prices of these materials have soared to an all-time high. As per the European Power Tool Association (EPTA), which represents power tool manufacturers, stated that cordless power tools (CPT) account for approximately 50% of the power tool market. CPT is lightweight, low voltage, and requires no electric cables while in production. Furthermore, lithium-ion batteries are classified as dangerous goods in international transport law and have special regulations for carriage. Batteries with an energy content over 100Wh are more heavily regulated. Increasing lithium prices will affect the prices of cordless power tools, which can likely hamper the growth of the overall power tool market. For more information on the research report, refer to the below link: Global Power Tools Market Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Support@kenresearch.com +91-9015378249 Tags: 3M Power Grinders Market Revenue, Africa Power Tools Market Revenue, Asia Pacific Power Tools Market Share, Atlas Copco Electric Assembly Tools Market, Bosch Cordless Power Tool Market, Challenges in Power Tools Market, Competitors in Power Tools in Market, Component Suppliers for Power Tools Manufacturers, Consulting Companies in Electric Tools Market, Corded Power Tools Market, Cordless Power Tools Market, Drill Power Tools Market, Electric Tools Manufacturers, Emerging Companies in Power Tools Market, Europe Power Tools Market Analysis, Global electric power tools market, Global Power Tool Kits, Global Power Tools Demand, Global Power Tools Equipment Market, Global Power Tools Industry, Global Power Tools Market, Global Power Tools Market Manufacturers, Grinder Power Tools Market, Hilti Impact Drivers & Wrenches Market, Ingersol Construction Tools Market Share, Investment Banks Targeting Electric Tools Manufacturers, KYOCERA Rotary Hammers Market Revenue, Latin America Power Tools Market, Leading Players in Power Tools in Market, Leading Power Tool Companies, Major Companies in Power Tools in Market, Makita Cordless Tools Market, Middle East Power Tools Market Share, North America Power Tools Market, Opportunities in Power Tools Market, Pneumatic Power Tools Market Industrial Power Tools Market, Potential Investors in Power Tools Companies, Power Tool Manufacturing Companies, Power Tools Distributors and Traders, Power Tools Industry Outlook, Power Tools Manufacturers and Suppliers, Power Tools Manufacturing Companies, Power Tools Market End Users Industry, power tools market share by brand, Power Tools Market Trends, Power Tools Material Supplier Companies, Residential Power Tools Market, Sander Power Tools Market, Saw Power Tools Market, Snap-on Power Tools Electric Market, Techtronic Milwaukee Power Tools Market, Top Companies in Power Tools Market, Top Power Tool Dealers Globally, Wrenches Power Tools Market