Power Tools Information:
The power tools are primarily used in construction and manufacturing
industries. The ongoing infrastructure development in emerging
economies such as India and China is aiding to the growth of this
market. Furthermore, the rising concept of urbanization and
modernization is also driving the power tools market. India is one of
the emerging nations currently undergoing massive urban development
as per their smart cities project. In addition, concept of Do It
Yourself (DIY) is also supporting the market and helps them to cater
residential sector. Furthermore, the availability power tools over
various distribution channels and especially on e-commerce websites
easily also supports DIY market. Therefore growing idea of DIY is
acting as a driver for the power tools market.
Booming Construction Industry Supports Global Power Tools Market
Growth
The four major application segments of the global power tools market
are electronics, aerospace, construction, and automobiles. Of these,
the construction industry relies heavily on the advancements in
technology made in the global power tools market. Optimized power
tools allow for a faster rate of construction and infrastructure
buildup, therefore accelerating the rate of industrialization of any
region. This is especially applicable to the developing economies of
today. With countries such as China, India, Ireland, and Brazil
showing a fast pace in construction and development, the global power
tools market is seen to benefit from the high demand shown by these
regions.
In terms of non-major applications, the global power tools market is
also driven by the growing do-it-yourself culture across the world.
Originally strong in developed nations in Europe and North America,
the DIY trend is currently spreading to other parts of the world,
prompting an increase in the demand from the global power tools
market.
High Maintenance Costs Hinder Global Power Tools Market
The global power tools market is, however, still hampered by the
higher maintenance cost that they come with. Not all users are
comfortable with the continuous maintenance charges of power tools,
and not all power tools can function well in challenging
environments. Another factor preventing growth of the global power
tools market is the high initial cost of power tools, which compels
contractors on low budgets to opt for leasing power tools. This
constricts the global power tools market and prevents the realization
of a higher growth rate.
Power Tools Market Information: https://is.gd/3FNaWK
With nearly 50% of the global power tools market held by electric
power tools in 2014, the segment is expected to continue its
dominance as high-torque and weather-resistant electric power tools
enter the market. In terms of geography, the global power tools
market was dominated by Asia Pacific in 2014, followed by North
America. The rate of construction is increasing in Asia Pacific,
allowing it to maintain its lead in the global power tools market for
the time being. The region benefits heavily through the growth of
infrastructure and expansion plans in India and China.
Company profiles of the key players have also been included in the
report. The company profiles cover, the overview, key developments,
financial overview and business strategy of the players focusing on
the power tools market. In addition, the historical milestones and
the business segments have also been provided The key players
profiled in the power tools market include, Robert Bosch GmbH
(Germany), Stanley, Black & Decker, Inc. (U.S.), Emerson Electric
Co.(U.K.), Makita Corporation (Japan), Actuant Corporation (U.S.),
SKF (Sweden), Techtronic Industries (China), Hilti Corporation
(Germany), Danaher Corporation (U.S.) and Hitachi Koki Ltd (Japan).
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