Global Power Tools Market Overview and Outlook 2020-2025 Featuring Stanley Black & Decker, Bosch, Makita, Hilti, and Atlas Copco Among Others
August 07, 2020 at 12:28 PM EDT
Dublin, Aug. 07, 2020 (GLOBE NEWSWIRE) -- The "Power Tools Market with COVID-19 impact Analysis by Mode (Electric (Corded & Cordless), Pneumatic), Tool Type (Drilling & Fastening, Sawing, Demolition, Material Removal), Application (Industrial (Construction, Automotive, Aerospace, Energy), DIY) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
Power tools market to exhibit significant growth during 2020-2025
The investments in power tools show that the largest manufacturing companies are investing 20-30% of their annual revenue in new product development, which is likely to decrease in the next 2 years due to the ripple effect of the COVID-19 pandemic on various industry demands. This may reduce the growth of drilling and fastening tools in 2020 and is expected to grow further until 2025.
Corded electric tools are plug-n-play tools, whereas cordless tools are easy to operate, efficient, and handy in nature. The majority of manufacturers are focusing more on launching cordless tools powered by lithium-ion batteries. As a result, the demand for cordless power tools with lithium-ion batteries is likely to increase during the forecast period.
Due to the outbreak of COVID-19, various companies in APAC witnessed a decline in demand for power tools. The company has been temporarily stalling new projects. As lockdown restrictions continue, the demand is expected to remain below normal forcing utilities to reconsider their capital expenditure.
The study includes an in-depth competitive analysis of these key players in the power tools market, with their company profiles, recent developments, and key market strategies. Stanley Black & Decker (US), Techtronic Industries (Hong Kong), Robert Bosch (Germany), Makita Corporation (Japan), Hilti Corporation (Liechtenstein), Atlas Copco (Sweden), Apex Tool Group (US), Ingersoll-Rand (Ireland), KOKI Holdings (Japan), and Snap-on Incorporated (US) are among the major players in the power tools market.
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