The power tools market offers a wide range of options, including sawing and cutting tools, drilling and fastening tools, demolition tools, routing tools, portable nibblers, air-powered tools, material removal tools, electric cords and plugs, accessories, and more. These tools cater to the needs of both DIY enthusiasts and professionals across various industries. With innovation driving tool efficiency, ergonomics, and versatility, users can select from diverse options designed to make tasks more accessible and efficient, revolutionizing how work is accomplished.
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Data Bridge Market Research analyses that the Asia-Pacific Power Tools Market is expected to grow at a CAGR of 6.00% during the forecast period of 2022-2029 and is expected to reach USD 1,4847.17 million by 2029 from USD 8,568.93 million in 2021. The increasing demand for enhanced mobility and convenience drives the transition to cordless power tools in the market. Users can work more flexibly without being restricted by power cords, improving efficiency and ease of use.
Key Findings of the Study
E-commerce growth is expected to drive the market's growth rate
The Asia-Pacific power tools market has witnessed a significant boost due to the surge in e-commerce growth. Online platforms have become instrumental in streamlining the sales and distribution of power tools across the region. With the convenience of digital shopping, consumers and businesses can easily access an extensive array of power tools, enhancing market reach. This trend has broadened the market's geographical scope and optimized the purchasing experience, making it more efficient and accessible for a broader customer base, thus contributing to the industry's growth and expansion.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Sawing and Cutting Tools, Drilling and Fastening Tools, Demolition Tools, Routing Tools, Portable Nibblers, Air-Powered Tools, Material Removal Tools, Electric Cords and Plugs, Accessories, Others), Mode of Operation (Electric, Liquid Fuel Tool, Hydraulic, Pneumatic, Powder-Actuated Tools), Application (Concrete and Construction, Woodworking, Metalworking, Welding, Others), Material (Concrete, Wood/Metal, Brick/Block, Glass, Others), End User (Industrial/Professional, Residential), Sales Channel (Indirect Sales, Direct Sales)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
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Market Players Covered
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Stanley Black & Decker, Inc. (U.S.), Robert Bosch GmbH (Germany), Techtronic Industries Co. Ltd. (Hong Kong), Makita Corporation (Japan), Hilti Corporation (Liechtenstein), Atlas Copco AB (Sweden), Ingersoll Rand (U.S.), Snap-on Incorporated (U.S.), Apex Tool Group (U.S.), Koki Holding Co., Ltd. (Japan), Honeywell International Inc. (U.S.), 3M (U.S.), Emerson Electric Co. (U.S.), Festool GmbH (Germany), KYOCERA Corporation (Japan), Makita Corporation (Japan), Hilti AG (Liechtenstein) and Husqvarna AB (Sweden).
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Asia-Pacific power tools market is segmented on the basis of type, mode of operation, application, material, end user, and sales channel.
- On the basis of type, the Asia-Pacific power tools market is segmented into sawing and cutting tools, drilling and fastening tools, demolition tools, routing tools, portable nibblers, air-powered tools, material removal tools, electric cords, and plugs, accessories, and others.
- On the basis of mode of operation, the Asia-Pacific power tools market is segmented into electric, liquid fuel tool, hydraulic, pneumatic, and powder-actuated tools.
- On the basis of application, the Asia-Pacific power tools market is segmented into concrete and construction, woodworking, metalworking, welding, and others.
- On the basis of material, the Asia-Pacific power tools market is segmented into concrete, wood/metal, brick/block, glass, and others.
- On the basis of end user, the Asia-Pacific power tools market is segmented into industrial/professional, and residential.
- On the basis of sales channel, the Asia-Pacific power tools market is segmented into indirect sales, and direct sales.
Major Players
Data Bridge Market Research recognizes the following companies as the major Asia-Pacific power tools market players in Asia-Pacific power tools market are Stanley Black & Decker, Inc. (U.S.), Robert Bosch GmbH (Germany), Techtronic Industries Co. Ltd. (Hong Kong), Makita Corporation (Japan), Hilti Corporation (Liechtenstein), Atlas Copco AB (Sweden), Ingersoll Rand (U.S.).
Market Developments
- In September 2021, Bosch and Makita, key players in the Asia-Pacific power tools market, jointly announced a strategic development collaboration. They introduced an innovative Cordless Brushless Impact Driver, combining Bosch's engineering excellence with Makita's battery technology. The product offers superior efficiency in fastening applications and represents a significant milestone in their collaboration, enhancing tool performance and customer satisfaction.
- In October 2021, Makita Corporation and Hitachi Koki Co., Ltd. announced a strategic alliance to enhance their presence in the Asia-Pacific power tools market. The partnership aims to develop advanced cordless tools and innovative solutions, leveraging their expertise. This collaboration is set to drive product innovation and expand market reach in the region.
- In August 2021, Bosch, a prominent player in the Asia-Pacific power tools market, unveiled a strategic partnership with Hyundai Construction Equipment. This partnership focuses on integrating Bosch's innovative cordless power tools with Hyundai's heavy machinery, enhancing efficiency and performance on construction sites. The synergy aims to deliver superior construction solutions by fusing cutting-edge tools and equipment.
- In June 2020, Techtronic Industries Co. Ltd.'s power tool division, Milwaukee, unveiled a Cordless 1" D-Handle High Torque Impact Wrench. Designed for fastening 2" bolts, the product boasts an impressive 2,000 ft-lbs of nut-busting torque, making it a powerful and versatile addition to the market's tool offerings.
- In September 2019, CRAFTSMAN, a division of Stanley Black & Decker, Inc., introduced the V20* Cordless System, featuring a range of power tools, including the V20* Cordless Wet Tile Saw, boasting a 17-inch cut capacity. This innovation marked a significant addition to their product line, enhancing the versatility and capabilities of the V20* Cordless System.
Regional Analysis
Geographically, the countries covered in the Asia-Pacific power tools market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
As per Data Bridge Market Research analysis:
China dominates the Asia-Pacific power tools market during the forecast period 2022-2029
China's dominant position in the Asia-Pacific power tools market arises from its diverse product range and early adoption rates, establishing market supremacy in the region. The nation's extensive offerings and proactive approach have solidified its position, making it a leader in meeting the power tool needs of consumers and industries across Asia-Pacific.
India is expected to be the fastest-growing region in Asia-Pacific power tools market in the forecast period 2022-2029
India is poised to lead the Asia-Pacific power tools market, driven by a surge in regional construction projects. The country's anticipated dominance is attributed to many construction initiatives underway. This growth reflects India's pivotal role in meeting the increasing demand for power tools, positioning it as a market leader.
For more detailed information about the Asia-Pacific power tools market report, click here – https://www.databridgemarketresearch.com/jp/reports/asia-pacific-power-tools-market
