North America Power Tools Market By Application (Industrial and Residential), By Products (Drills, Grinders, Saws, Sanders, Wrenches and Others), By Mode of Operation (By End User (Electric, Pneumatic and Others), By Country, Industry Analysis and Forecast, 2020 - 2026
The North America Power Tools Market would witness market growth of 5.2% CAGR during the forecast period (2020-2026).
Power tools are gaining popularity in household applications due to their easy operation and ease of mobility. The growing trend in Do-It-Yourself (DIY) activities has resulted in increased demand from household consumers. In order to address the needs of consumers who are not trained experts, businesses are selling products with improved safety features. For example, Bosh Power Tools provides special Bosch protection features, including rotation control clutch in rotary hammer drills and restore protection in angle grinders. These features tend to reduce the chances of injury associated with products and tend to incorporate power tools in household applications.
In addition to technical advancements, the growth of the industry is driven by the growing proliferation of cordless devices that offer easy mobility with no external power source. The market is expected to decline as a result of the downturn faced by the automobile and other sectors triggered by the emergence of the COVID-19 pandemic. However, the increasing demand for household applications and the regeneration of industries is projected to increase the business growth over the forecast period in the near future.
Increased demand for automated and skilled labor has transformed the adoption of power tools technology in recent years. Pneumatic tools are power tools that work with compressed air technology. The air is filled in the instrument by means of a cylinder, which generates friction for its operation. Pneumatic tools are lightweight, faster and more robust than electrical tools. They are more powerful than electrical tools, because air compressors generate considerable energy by compressing and condensing air which, when discharge and trying to achieve its original volume, produces bursts of energy.
Based on Application, the market is segmented into Industrial and Residential. Based on Products, the market is segmented into Drills, Grinders, Saws, Sanders, Wrenches and Others. Based on Mode of Operation, the market is segmented into Based on End User, the market is segmented into Electric, Pneumatic and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Techtronic Industries Co., Ltd., Snap-On, Inc., Robert Bosch GmbH, Panasonic Corporation, Emerson Electric Co., Atlas Copco AB, Koki Holdings Co., Ltd., Makita Corporation, Stanley Black & Decker, Inc., and Apex Tool Group, LLC.
Scope of the Study
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