COVID-19 Pandemic disrupted the entire world and affected many industries. Get detailed COVID-19 impact analysis on the Electric Power Tools Market
PORTLAND, OR, UNITED STATES, January 10, 2022 /
EINPresswire.com/ -- The
global electric power tools industry is expected to witness a significant growth from factors such as increase in adoption of electric power tools in the construction industry, integration of brushless motors in electric power tools, and growth in popularity of cordless power tools. However, high initial cost of the electric power tools is anticipated to restrain growth of the market.
According to a new report published by Allied Market Research, titled, “electric power tools market by product type, and end user industry: global opportunity analysis and industry forecast, 2021–2030,” The global electric power tools market is expected to generate revenue worth $24.1 billion in 2020 and is projected to reach $49.2 billion by 2030, registering a CAGR of 6.8% during the forecast period.
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The key factors that drive the growth of the global electric power tools market include increased adoption of electric power tools in the construction industry, integration of brushless motors in electrically powered tools, and growth in popularity of cordless power tools. However, high initial costs of the electric power tools as compared to pneumatic power tools is expected to hamper the market growth to a certain extent.
The construction industry is one of the major consumers of power tools, hence, the introduction of electric power tools has benefitted the construction industry, by providing features such as portability, usability in remote locations, and high productivities. Thus, the adoption of electric power tools has grown significantly; thereby, boosting the growth of the electric power tools market.
Moreover, integration of brushless motors in the electric power tools has enhanced the productivities of the electric power tools to a high extent. Brushless motors eliminate the generation of friction; thereby, providing more power in same input voltage. This ultimately improves the performance of the electric power tool. As a result, the introduction of brushless motors in electric power tools is propelling the use of electric power tools for professional heavy-duty operations; thereby, driving the electric power tools market growth globally.
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Key Market Players
Apex Tool Group
Atlas Copco AB
Hilti Corporation
Ingersoll Rand Inc.
Koki Holding, Co., Ltd.
Makita Corporation
Robert Bosch GmbH
Stanley Black & Decker, Inc.
Snap-on Incorporated
Techtronic Industries Co., Ltd.
Key Benefits
The report provides an extensive analysis of the current and emerging global electric power tools market trends and dynamics.
In-depth market analysis is conducted by global electric power tools market estimations for the global market segments between 2020 and 2030.
Extensive analysis of the global electric power tools industry is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global electric power tools market forecast analysis from 2021 to 2030 is included in the report.
The key market players within electric power tools are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global market.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
David Correa
Allied Analytics LLP
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