The power tools market boasts diverse modes of operation, including pneumatic, hydraulic, liquid fuel tool, electric, and power-actuated tools. pneumatic tools utilize compressed air, hydraulic tools leverage fluid pressure, liquid fuel tools rely on combustible liquids, electric tools harness electrical power, and power-actuated tools function with explosive charges. Each mode caters to specific applications, offering versatility and efficiency. This wide array of operational choices ensures professionals can select tools tailored to their unique requirements across various industries, enhancing productivity and precision.
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Data Bridge Market Research analyses that the Malaysia Power Tools Market value, which was USD 394.02 million in 2021, is expected to reach the value of USD 577.73 million by 2029, at a CAGR of 4.9% during the forecast period 2022-2029. Global economic growth, particularly in emerging markets, propels infrastructure development. This surge in construction activities drives the demand for power tools, positioning economic expansion as a key driver for the power tools market, reflecting the market's sensitivity to broader economic trends.
Key Findings of the Study
Automotive maintenance is expected to drive the market's growth rate
The power tools market experiences a significant boost due to a surge in automotive repair and maintenance activities. As the automotive sector expands, professionals and enthusiasts alike seek efficient tools for upkeep and repairs. This heightened demand for power tools tailored to automotive applications becomes a prominent driver, reflecting the market's responsiveness to the growing needs of the automotive maintenance industry and its pivotal role in sustaining market growth.
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 (Drilling, Chisels, Screwing (Screwdriver Bits), Saws, Circular Saw Blades, Cutting, Sanding, Rotary Hammers, Grinders, Woodworking, Corded and Cordless Power Tools, Metalworking, Mechanic Tools and Others), Mode of Operation (Pneumatic, Hydraulic, Liquid Fuel Tool, Electric and Power-Actuated Tools), Operated (Electricity Operated and Battery Operated), Application (Woodworking, Concrete and Construction, Metalworking, Welding and Others), Material (Wood/Metal, Brick/Block, Concrete, Glass and Others), Sales Channel (Online and Offline), End User (Residential and Institutional/Professional)
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Market Players Covered
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Makita Corporation (Japan), Hexo Industries (M) Sdn Bhd (Malaysia), HK POWERTOOLS (M) SDN BHD (Malaysia), Milwaukee Tool Malaysia (Malaysia), KYOCERA Corporation (Japan), Ingersoll Rand (Ireland), Apex Tool Group, LLC (U.S.), Atlas Copco AB (Sweden), Hilti Corporation (Liechtenstein), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Stanley Black and Decker, Inc. (U.S.), Techtronic Industries Co. Ltd. (Hong Kong), 3M (U.S.), Koki Holding Co., Ltd. (Japan), DEWALT (U.S.)
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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 Malaysia power tools market is categorized based on type, mode of operation, operated, application, material, sales channel, and end user.
- On the basis of type, the Malaysia power tools market is segmented into drilling, chisels, screwing (screwdriver bits), saws, circular saw blades, cutting, sanding, rotary hammers, grinders, woodworking, corded and cordless power tools, metalworking, mechanic tools and others
- On the basis of mode of operation, the Malaysia power tools market is segmented into pneumatic, hydraulic, liquid fuel tools, electric and power-actuated tools
- On the basis of operated, the Malaysia power tools market is segmented into electricity operated and battery operated
- On the basis of application, the Malaysia power tools market is segmented into woodworking, concrete and construction, metalworking, welding and others
- On the basis of material, the Malaysia power tools market is segmented into wood/metal, brick/block, concrete, glass and others
- On the basis of sales channel, the Malaysia power tools market is segmented into online and offline
- On the basis of end user, the Malaysia power tools market is segmented into residential and institutional/professional
Major Players
Data Bridge Market Research recognizes the following companies as the Malaysia power tools market players in Malaysia power tools market are Makita Corporation (Japan), Hexo Industries (M) Sdn Bhd (Malaysia), HK POWERTOOLS (M) SDN BHD (Malaysia), Milwaukee Tool Malaysia (Malaysia), KYOCERA Corporation (Japan), Ingersoll Rand (Ireland).
Market Developments
- In November 2021, Hexo Industries (M) Sdn Bhd collaborated with Ekahau, a wireless network solutions leader. This collaboration signifies Hexo's commitment to innovation by integrating advanced wireless technology into their power tools. The move aims to enhance product capabilities, staying abreast of technological trends and meeting evolving demands in the dynamic power tools market
- In October 2021, Makita Corporation and Hitachi Koki Co., Ltd. announced a strategic alliance to enhance their presence in the power tools market. The partnership will 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 September 2021, Bosch and Makita, key players in the 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 August 2021, Bosch, a prominent player in the 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, launched 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
For more detailed information about the Malaysia power tools market report, click here – https://www.databridgemarketresearch.com/reports/malaysia-power-tools-market
