North America Power Tools Market

North America Power Tools Market Analysis Report (2021 - 2026)

The size and share of the North America Power Tool Market is anticipated to grow in a significant way during the forecast period of 2021 – 2026.

A power tool is a device that is actuated with the additional power source and the mechanism other than the solely manual labor utilized by hand tools. Internal combustion engines and compressed air are the major types of power tools that are commonly used. And the steam engines, direct burning of fuels and explosives, such as in powder-actuated devices, or even natural sources like 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 is attributed to the rising demand for cordless tools along with the rapid adoption of flexible battery systems, the growing popularity of 'DIY Culture' and infrastructural developments to meet the needs of an increasing population.

Recent Developments

• 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.

Drivers and Restraints of North America Power Tools Market

Growing demand for cordless tools coupled with the rising adoption of flexible battery systems is the primary driver for the growth of the North America Power Tools Market. Also, the increasing popularity of performing tasks by themselves and advancements in infrastructures to meet the needs of a growing population is boosting the growth of the power tools market in North America.

Moreover, growing investment in the housing sector which is resulting in a surge in demand for power tools over the coming years is estimated to be the growth factor of the power tools market in North America over the outlook period.

Market Segmentation of North America Power Tools Market with evaluated size and forecast until 2025.

• By Tool Type: the 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. Whereas, the Electric segment is further sub-segmented into Corded Tools and Cordless Tools.

• By Application: Industrial and Residential segments on the basis of application where the Industrial sector is further divided into Aerospace, Construction, Automotive, Energy, and Others.

• By Region: US, Canada & Rest of North America. In the regional analysis of the North America Power Tools Market, the USA held for a significant share of the business revenue. The growth of the power tool market in this country is attributed to the increased demand for efficient power tools owing to the growing popularity of flexible battery systems that eliminate redundancy and galvanize the productivity of power tool operators. But, Canada's power tools market is expected to register substantial growth during the forecast period. It will record a higher CAGR owing to the demand for power tools on the back of a surge in infrastructure projects in this country.

The key players of the North America 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)