The Asia Pacific Power Tools Market would witness market growth of 6.3% CAGR during the forecast period (2020-2026).
The growth in popularity of the Do-it-Yourself (DIY) technique is recognized as a global phenomenon. In addition, the unavailability of household workers has forced people to take up DIY work for household repair and maintenance. House maintenance, gardening, etc. are simpler with the aid of user-friendly and ergonomic devices that have contributed to increased demand for these products. The rise in people’s disposable income is also a significant factor in the development of the market.
Growing use of fastening equipment in the automobile and manufacturing industry has led to a major use of the equipment for industrial applications. Increased sales of commercial vehicles and increasing urbanization drive the demand for power tools in the automobile and construction industries. Power tools offer enhanced efficiency, making them the preferred choice for workers in the industrial sector.
The market for power tools is expected to grow at a significant rate due to an increase in the popularity of DIY techniques, investment in infrastructure development and an increase in people’s disposable income. In the last few years, India has spent almost one-ninth of its GDP on infrastructure development activities, which are expected to escalate in the coming years. This growth in infrastructure improvement activities is expected to fuel the adoption of power tools.
Based on Application, the market is segmented into Industrial and Residential. Based on Products, the market is segmented into Drills, Grinders, Saws, Sanders, Wrenches and Others. Based on Mode of Operation, the market is segmented into Based on End User, the market is segmented into Electric, Pneumatic and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Techtronic Industries Co., Ltd., Snap-On, Inc., Robert Bosch GmbH, Panasonic Corporation, Emerson Electric Co., Atlas Copco AB, Koki Holdings Co., Ltd., Makita Corporation, Stanley Black & Decker, Inc., and Apex Tool Group, LLC.
Scope of the Study
By Mode of Operation
- South Korea
- Rest of Asia Pacific
- Techtronic Industries Co., Ltd.
- Snap-On, Inc.
- Robert Bosch GmbH
- Panasonic Corporation
- Emerson Electric Co.
- Atlas Copco AB
- Koki Holdings Co., Ltd.
- Makita Corporation
- Stanley Black & Decker, Inc.
- Apex Tool Group, LLC
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