Global Power tools Market Overview 

Power tools have the simple definition of being powered by a source of energy apart from manual labor. However, some diverse tools and accessories fall under the definition of power tools. Power tools are tools that use electric motors to carry out their functions. The use of power tools is nothing new, as power tools have existed and evolved since the discovery of electricity and other energy sources. An electrically powered machine that helps people in completing tasks can be a powerful tool. Some power tools also use internal combustion engines and compressed air to create force and energy. 

The global power tools market is a fast-evolving one with improvements and new product launches on the horizon. Power tools have an extensive base of applications and utilities, which provides great opportunities for usage and growth. From the early industrial era to today's industry 4.0, power tools have evolved and remained relevant for industries. The power tools market value nearly 47.23 Billion in 2022 o USD 73.8 billion by 2030. The power tools sector is up for moderate growth with an average growth rate in the forecast period. Diversification of industries and improvement in power tools framework will support the growth rate of the market.

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Market Segmentation 

Power Tools Market Machine Type Outlook

  • Drilling Tools
  • Cutting/Sawing Tools
  • Fastening Tools
  • Breaker Tools
  • Others

Power Tools Market Mode of Operation Outlook

  • Electric
  • Hydraulic
  • Pneumatic
  • Others

Power Tools Market Mobility Outlook

  • Stationery
  • Portable

Power Tools Market Application Outlook

  • Residential
  • Commercial
  • Industrial

Global Power Tools Regional Outlook

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia-Pacific
  • Rest of the World
    • South America
    • Middle East
    • Africa

Key Companies in the Power Tools Market include.

Regional Analysis 

The power tools market size disperses over different world regions depending on competitor presence and revenue generation. The primary regional markets for the power tools market are North America, Asia Pacific, Europe, and the Middle East. The APAC region will see the most demand for power tools in the forecast period and is the largest market by share and growth rate. The Middle Eastern market comes second to the APAC region. The North American region also makes a significant contribution to the growth of the power tools market. 

Global Power Tools Industry Developments

  • October 2022 Development:

In October 2022, BLACK+DECKER, a subsidiary of Stanley Black & Decker, made significant strides in the power tools industry with the retail launch of the first phase of their reviva power tool range. This new range of power tools includes the Reviva drill driver, detail sander, jigsaw, and screwdriver. The launch was not limited to physical stores but also extended to online retailers, ensuring wide availability for customers.

  • September 2021 Development:

In September 2021, Bosch Power Tools made a notable addition to its product portfolio by introducing new 12V and 18V cordless orbit sanders. These cordless orbit sanders provide users with enhanced accuracy, precision, and customization options for woodworking and wood cutting applications.

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