The insights of the Middle East & Africa Power Tools Market is expected to grow in a considerable way and witness stable growth during the forecast period. It is estimated that the target market in this region is growing in a remarkable way recording a CAGR of 9%.
Power tools are devices that are primarily used in the manufacturing and construction industry which are actuated by an additional power source and mechanisms other than solely manual labor used with hand tools. Drilling, sanding and screw driving are several operations that these power tools have. The power tool is one of the prominent equipment in the construction industry. Generally, tools directly driven by animal power are not considered as power tools.
The growth of the power tools market in this region is due to the substantial growth of the construction sector because of the emergence of major construction contracts.
Snap-on Incorporated, a leading global innovator, manufacturer, and marketer of tools, equipment, diagnostics, repair information & systems solution, has scheduled to present at the Merrill Lynch 2020 Consumer & Retail Technology Conference held by Bank of America.
Ingersoll-Rand Plc, also known as Trane Technologies which is a manufacturing company formed in 1905 with the merger of Ingersoll-Sergeant Drill Company and Rand Drill Company, has launched Following IR Spin-of.
The rise of the construction sector, growing need for automation, increasing global sales for commercial vehicles and rising adoption of high-density lithium-ion batteries for charging cordless power tools are the primary drivers of the Middle East & Africa Power Tools Market's growth.
However, human safety concerns and the expensive maintenance cost are the challenges that the target market is facing.
Market Segmentation of the Middle East & Africa Power Tools Market as per the research Report:
By Tool Type: Drilling & fastening tools (Drills, Impact Drivers, Impact wrenches, Screwdrivers, and nut runners), Demolition tools (Rotary hammers, hammer drills, and demolition hammers), Sawing and cutting tools (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. where the Industrial sector is further divided into Aerospace, Construction, Automotive, Energy, and Others.
By Region: KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA
In the regional analysis of the Middle East & Africa Power Tools Market, the Middle East is the region that is witnessing the tremendous growth of the target market owing to the presence of the dedicated trade fair for tools, hardware, materials, and machinery. Also, it is the world’s largest oil-producing region, which is why making the switch shown in a new era for electricity generation, driving the power tools market in this region. Apart from that, countries like Turkey are likely to boost further growth in the construction sector after the recovery from the economic slowdown, which is one of the major reasons for the growth of the Middle East & Africa Power Tools Market.
The key players of the Middle East & Africa 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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