Global Power Tool Accessories Market Overview:
Power Tool is a device which is activated by a power source apart from manual labor. They are available in multiple shapes and sizes and are simple to operate. Further, power tools need compressed air, combustion or electricity to work. There are some advantages of using the tools such as they are powerful thus are capable of offering high levels of torque and provide precision, power and smoothness to the process. The global power tool market is expected to witness a significant growth in near future due to evolution of fabricated metal products and rise in sales of passenger cars. Some of the key players profiled in the study are Makita (Japan), Bosch (Germany), Stanley Black & Decker, Inc. (United States), Techtronic (Hong Kong), Atlas Copco (Sweden), Hilti (Liechtenstein), Hitachi Koki (India), Husqvarna (Austria), Irwin Industrial Tools (United States) and Snap-on (United States).
On the basis of geography, the market of Power Tool Accessories has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Power Tool Accessories market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Consumer will boost the Power Tool Accessories market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Evolution of Fabricated Metal Products
- Rise in Sales of Passenger Cars
Market Trend
- Upsurge in Electric Vehicle Sales
- Increasing Demand for Commercial Aircraft
Restraints
- Growing Human Safety Concerns
Opportunities
- Rise in Construction Activities in Emerging Economies
Challenges
- High Price of Power Tools
- Dearth of Skilled Labors
Major Market Developments:
On February 26, 2019 – Makita U.S.A., Inc. announces two new tools for efficient metal cutting. The 18V LXT Cordless Compact Band Saw (XBP03) and 18V LXT Cordless Brushless Threaded Rod Cutter (XCS03) allow users to cut overhead.
Target Audience:
Manufacturers of Power Tool Accessories, Suppliers of Power Tool Accessories Parts, Wholesalers, Distributors and Retailers of Power Tool Accessories, Automotive Industry, Construction Industry, Governmental Bodies, Raw Material Suppliers and Research Firms
Major Objectives Focused through this Study
To define, describe, and forecast the Global Power Tool Accessories market on the basis of product [Cutlery, Stamped Metal Products, Fasteners, Springs and Other] , application [
], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Power Tool Accessories market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Power Tool Accessories industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Magtrol (United States) and Klein Tools (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Power Tool Accessories market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.