Power Tools Market in APAC 2015-2019
About Power Tools
Power tools facilitate increased ease and convenience to manufacture products. Engine-driven power tools, electric power tools, and pneumatic power tools are the major types of power tools available in the market. Engine-driven power tools use gasoline for their operation, whereas pneumatic power tools operate with the effective deployment of compressors. Power tools are used for several operations such as screwdriving, drilling, chiseling, planing, routing, sanding, buffing, polishing, and leveling. In addition to their application in the residential sector, these tools are adopted by several companies across industries such as automotive, infrastructure, construction, woodworking, aerospace, and electrical and electronics.
TechNavio's analysts forecast the power tools market in APAC to grow at a CAGR of 5.03% over the period 2015-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the power tools market in APAC for the period 2015-2019.
TechNavio's report, the Power Tools Market in APAC 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.Major Countries
Technavio Announces the Publication of its Research Report – Power Tools Market in APAC 2015-2019
Technavio recognizes the following companies as the key players in the power tools market in APAC: Bosch GmbH, Makita Corp., Stanley Black & Decker Inc. and Techtronic Industries Co. Ltd.
Other Prominent Vendors in the market are: Actuant, Blount International, Bosun Tools, Emerson Electric, Hangzhou Great Star Industrial, Hilti, Hitachi Koki, Jiangsu Dongcheng M&E Tools, Jiangsu Guoqiang Tools, Ken-Tool, Panasonic, Snap-On and Zhejiang Boda Industrial
Commenting on the report, an analyst from Technavio’s team said: “Rising industrialization and urbanization in emerging countries will have a positive impact on the power tool market, as vendors can maximize their market share and revenue from these countries. China is slowly shifting its focus towards domestic consumption, which will help Chinese vendors reduce the risks associated with depending solely on export revenues.”
According to the report, globalization has intensified competition in almost every industry, and this holds true for the global power tools market. Power tools such as buffing and polishing machines are widely used across several industries to develop superior-quality products.
Further, the report states that market competition has intensified YoY, which has triggered price wars and reduced vendor profit margins. Many vendors are offering lower-priced products to cost-conscious customers in a bid to hike their market shares.
Bosch GmbH, Makita Corp, Stanley Black & Decker Inc, Techtronic Industries Co. Ltd, Actuant, Blount International, Bosun Tools, Emerson Electric, Hangzhou Great Star Industrial, Hilti, Hitachi Koki, Jiangsu Dongcheng M&E Tools, Jiangsu Guoqiang Tools, Ken-Tool, Panasonic, Snap-On, Zhejiang Boda Industrial