Tuesday, July 5, 2016
Power Tools Market : Global Industry Information, Market structure and Forecast to 2022
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According to a new market report published by
Credence Research, Inc. “Global Power
Tools Market (By End-use Application (Non-residential (Construction and
Mining, Automotive, Semiconductor, Aerospace,), and Residential), By Type
(Electric Power Tools, Pneumatic Power Tools, Hydraulic Power Tools, and
Others) Market – Growth, Share, Opportunities, Competitive Analysis, and
Forecast 2016 – 2023”, the global power tools market is expected to expand
at a CAGR of 5.2% from 2016 to 2023, reaching US$ 41.0 Bn by 2023.
Market Insights
In spite of product improvements and
innovations, the market for power tools witnessed sluggish sales during the
start of this decade. The sluggish growth can be credited to the dependence of
power tools on macroeconomic conditions, which have been highly unpredictable
and unstable since the start of the economic slowdown in 2008. However, with
financial markets showing stability off-late, resurgence in the construction
and automotive sectors should propel demand for power tools. In the current
scenario, countries including India and China have comparatively lower
penetration rates owing to high upfront cost of power tools compared to hand
tools. However, with intensifying competition, we expect unit prices of power
tools to drop in the coming years.
Browse the full report
at : http://www.credenceresearch.com/report/power-tools-market
Competitive Insights:
The global market for power tools is matured
and highly consolidated. The leading four power tool manufacturers account for
over 45% of the global market revenue. Some of the leading manufacturers
identified in the global power tools market include Robert Bosch GmbH
(Germany), Emerson Electric Co. (the U.K.), Stanley, Black & Decker, Inc.
(the U.S.), Actuant Corporation (the U.S.), Makita Corporation (Japan), SKF AB
(Sweden), Danaher Corporation (the U.S.), Hilti Corporation (Germany),
Techtronic Industries (China), and Hitachi Koki Ltd (Japan) among others. These
players are focused on expanding their product portfolio and global presence
through strategic acquisitions and partnerships. In addition, they are striving
to develop cost-effective power tools to gain competitive advantage over
competitors
Key Trends:
·
Growing preference for
cordless and battery powered power tools in residential applications
·
Resurgence in the
housing sector
·
Growing popularity of
Do-It-Yourself (DIY) activities
·
Growing trend towards
modernizing housing stock to drive growth in power tool demand
Request For sample : http://www.credenceresearch.com/sample-request/57954
About Us :
Credence Research is a worldwide industry research
and counseling firm that serves driving organizations, governments, non
legislative associations, and not-for-benefits. We offer our customers some
assistance with making enduring enhancements to their execution and understand
their most imperative objectives. Over almost a century, we’ve manufactured a
firm extraordinarily prepared to this task.
Media Contact
Name: Chris Smith
(Global Sales Manager)
Address: 105 N 1st ST
#429, SAN JOSE, CA 95103 US
E-mail:
sales@credenceresearch.com
Ph: 1-800-361-8290
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