Power Tools helps in Making Construction or Manufacturing Process Fast
Power tools are primarily used to make the operation process fast (in case of building, manufacturing, and new construction), by consuming less time and workforce. These tools are primarily used in the industrial sector, specifically for drilling, sanding, screw driving, buffing and polishing among other applications.
Description of Power Tools Global Market –
Overall value of the global power tools market at US$26.13 bn in 2014. The market is expected to reach US$38.03 bn by the end of 2021. The market is substantially gaining from the rapid industrialization in developing countries such as India and China. Furthermore, the rising concept of modernization is also significantly aiding the increasing demand for power tools.
The market has been segmented into three categories: by technology, application and geography. By technology, the electric power tools held the largest market share accounting to more that 50% in 2014 The dominance of this segment is attributed to the increasing application of electric power tools in construction industry. Moreover, electric power tools have the capacity of producing better torque as per the requirement of the work
By regions, Asia Pacific held the highest market share in the 2014 and expected to lead the market during the forecast period. This region is witnessing tremendous industrialization due to the presence of developing regions like India and China.
PDF Brochure for Technical Trends of Power Tools at: http://bit.ly/25aTWW8
In addition, the report also profiles the key players in the market on the basis of company overview, financial overview, business segments, key developments and the business strategies adopted by them with respect to the power tools market. . The major player profiles in the market include Robert Bosch GmbH (Germany), Stanley, Black & Decker, Inc. (U.S.), Emerson Electric Co.(U.K.), Makita Corporation (Japan), Actuant Corporation (U.S.), SKF (Sweden), Techtronic Industries (China), Hilti Corporation (Germany), Danaher Corporation (U.S.) and Hitachi Koki Ltd (Japan).