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Asia-Pacific Power Tools Market - Industry Analysis on Size, Share, Trends, Growth, Landscape & Forecast Report | 2022 to 2027

Published: January, 2022
ID: 9394
Pages: 90
Formats: report pdf report excel report power bi report ppt

Asia-Pacific Power Tools Market Analysis Report (2021 - 2026)

The insights of the Asia-Pacific Power Tools Market is estimated to grow at a considerable level over the period of 2022 - 2027.

It is expected that the power tools market in Asia-Pacific is going to record a CAGR of 5.6%. A power tool is a device actuated with the additional source of power and the mechanism other than the solely manual labor that is used by hand tools. Internal combustion engines and compressed air are the major types of power tools, and they also commonly used. And the steam engines, direct burning of fuels and explosives, such as in powder-actuated devices, or even natural power sources such as wind or moving water are included in other power sources. Generally, tools directly driven by animal power are not considered as power tools.

The growth of the target market in this region owes to the constant growth of the construction industry in emerging nations like India & China, rising need for automation, and growing global sales for commercial vehicles.

Recent Developments

  • Robert Bosch, a German multinational engineering and technology company that was headquartered in Gerlingen, has launched its range of various cordless power tools like a wireless screwdriver that runs by lithium-ion batteries.  

  • Hilti Inc., a Liechtenstein multinational company that develops, manufactures, and markets products for the construction, building maintenance, energy, and manufacturing industries, has expanded its industry-leading cordless tool offerings by launching the world's first cordless breaker, the TE 500-A36.

Drivers and Restraints of Asia-Pacific Power Tools Market

Augmentation of innovations in the fields of automation and charging technologies like lithium-ion rechargeable batteries are the primary concerns that are the primary drivers of the Asia-Pacific Power Tools Market.

However, high maintenance costs of power and safety concerns are the significant challenges that are hampering the growth of the power tools market in this region.

Market Segmentation of Asia-Pacific Power Tools Market

  • By Tool Type: Drilling & fastening tools (which was sub-segmented into Drills, Impact Drivers, Impact wrenches, Screwdrivers, and nut runners), Demolition tools (which was sub-segmented into Rotary hammers, hammer drills, and demolition hammers), Sawing and cutting tools (which was sub-segmented into Jigsaws, Reciprocating saws, Circular saws, Band saws, and Sheers and nibblers), Material removal tools (Sanders/polishers/buffers, Grinders; Angle grinders, Die and straight grinder; Routing Tools; Routers/planers/joiners; Others (measuring and layout tools, laser tools, dust extractors, glue guns, and heat guns)

  • By Operation: Electric and Pneumatic. The Electric segment is further sub-segmented into Corded Tools and Cordless Tools.

  • By Application: Industrial and Residential. Of this, the Industrial sector is further divided into Aerospace, Construction, Automotive, Energy, and Others.

  • By Region: India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC. In the regional analysis of the Asia-Pacific Power Tools Market, India and China have garnered a significant share of the market revenue. And also, these countries' power tool markets are estimated to maintain dominance during the forecast period as well. The growth of the target market in India owes to the 'Make in India' movement that the government was encouraging. Also, countries such as South Korea and Japan are likely to witness considerable growth owing to their shipbuilding sector over the next five years.

The key players of the Asia-Pacific Power Tools Market include 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)

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