Global Portable Power Tools Market 2018-2022
About Portable Power Tools
A portable power tool is a device that is activated by an electric power source, unlike manual or pneumatic tools. Various types of power tools include electric screwdrivers, hammer drills, and screw guns.
Technavio’s analysts forecast the global portable power tools market to grow at a CAGR of 6.41% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global portable power tools market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Portable Power Tools Market 2018-2022
Technavio recognizes the following companies as the key players in the global portable power tools market: Hilti, Koki Holdings, Makita Corporation, Robert Bosch, Stanley Black & Decker, and Techtronic Industries.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is portable power tools with smart technologies. Web and digital connectivity is a new trend in the global portable power tools market. It helps in inventory management and improved performance of portable power tools.”
According to the report, one driver in the market is increasing demand for DIY tools in developed countries. The global DIY market is predicted to grow at a CAGR of more than 3% during the forecast period. In 2017, the global DIY market earned a revenue of $475 billion, and the market is expected to increase its size by more than $80 billion during 2017-2022. The global DIY market is highly concentrated in developed countries including regions such as Western Europe and North America.
Further, the report states that one challenge in the market is low penetration of portable power tools in developing and emerging countries. Developed countries account for the majority of the revenue in the global portable power tools market. For example, dominant vendors such as Stanley Black & Decker and Techtronic Industries generate more than 60% of their revenues from the developed market of North America.
Stanley Black & Decker
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