Electric Power Tools Market Size, Share, Competitive Landscape and Trend Analysis Report

WILMINGTON, DELAWARE, UNITED STATES, August 2, 2024 /EINPresswire.com/ -- The report published by Allied Market Research (AMR) on the electric power tools market indicates that the industry is estimated to reach a value of $124.4 billion by 2031, exhibiting a remarkable CAGR of 5.7% from 2022 to 2031. The market was valued at $70.2 billion in 2021. This research report provides an up-to-date analysis of the overall market, including profitable investment opportunities, value chain analysis, emerging trends, segmental overview, regional insights, and the competitive landscape.

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Furthermore, AMR conducts thorough investigations utilizing frameworks like Porter's Five Forces Model and SWOT analysis, providing useful information to stakeholders and businesses. This data allows stakeholders to understand the competitive environment and the strategic positioning of companies in the sector. With this knowledge, stakeholders can identify factors driving growth, predict possible challenges, and capitalize on opportunities for well-informed decision-making.

Moreover, by analyzing the primary factors that impact success, businesses can effectively allocate resources, create successful market participation strategies, and improve company intentions to stay competitive and promote growth in the global electric power tools market. This report is a valuable resource for stakeholders and businesses to make informed decisions based on data that can enhance their strategies and stimulate growth.

A Look into the Industry Trends

Cordless technology

The transition from corded electric power tools to cordless ones is gaining momentum due to the convenience and mobility they offer. For example, DeWalt's FlexVolt technology allows tools to use battery packs that switch between 20V and 60V depending on the tool's power requirements, giving users more flexibility and extended battery life.

Brushless motor technology

Brushless motors are increasingly used in electric power tools because of their improved efficiency, longer lifespan, and reduced maintenance compared to brushed motors. For instance, Makita's brushless motor technology tools, such as drills, saws, and impact drivers, provide enhanced power and performance while reducing the risk of damage and deterioration.

Multi-functionality and versatility

Tools that offer multiple functions or can be easily adapted for different tasks are becoming popular among DIY enthusiasts and professionals. For example, Ryobi's ONE+ battery technology can be used to operate a wide range of tools, such as drills and garden equipment, enabling users to seamlessly switch between tools without having to change batteries.

Regional Insights

The global electric power tools industry is analyzed across various regions such as North America, Asia-Pacific, Europe, Latin America, the Middle East, and Africa. This regional analysis helps businesses and stakeholders understand particular trends, consumer choices, and competitive challenges, enabling the development of unique approaches, resource allocation, and risk management strategies in each location. This method improves decision-making, boosts commercial and economic activities, and creates opportunities in different geographic regions.

Competitive Landscape

The research report on the global electric power tools market offers a thorough analysis of its competitive landscape. The report also focuses on the top market players in the industry, providing valuable insights for businesses and stakeholders to comprehend market trends, identify growth opportunities, and minimize risks. This data facilitates innovation, enables well-informed decision-making, and leads to the development of new strategies. Moreover, the report highlights the innovative techniques implemented by leading entities to enhance their presence in the market. Some of the top companies profiled in the report include:

Robert Bosch GmbH

Techtronic Industries Co., Ltd.

Apex Tool Group, LLC

Stanley Black & Decker Inc.

Koki Holdings Co. Ltd.

Hilti Corporation

Ingersoll Rand Inc.

Snap-On Incorporated

Makita Corporation

C&E Fein GmbH

Atlas Copco AB

Research Methodology

The market analysis utilizes a comprehensive approach using both primary and secondary research methodologies for an in-depth understanding. Primary research includes formal partnerships, telephone interviews, and expert opinions, while secondary research incorporates corporate profiles, journal articles, webinars, and regulatory frameworks. This approach ensures thorough data collection and analysis, providing accurate and actionable insights for informed decision-making.

Conclusion

To sum up, the AMR study offers a holistic overview of the electric power tools industry, including emerging trends, regional analysis, and the competitive landscape. This research provides businesses and stakeholders with important information to make informed decisions, identify growth opportunities, and develop successful strategies to gain a competitive edge, thus promoting steady growth and innovation.

David Correa
Allied Market Research
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