The power tools market caters to a wide range of end users, primarily divided into Industrial/Professional and Residential segments. Industrial and professional users encompass construction, manufacturing, and various trades, relying on power tools for precision and efficiency. Residential users, including DIY enthusiasts, utilize power tools for home projects. Sales channels consist of indirect sales, involving distributors and retailers, and direct sales, where manufacturers sell directly to customers. This diverse landscape ensures power tools' accessibility and relevance in various industries and applications.
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Data Bridge Market Research analyses that the Europe Power Tools Market value, which was USD 11,804.61 million in 2021, is expected to reach the value of USD 17,979.46 million by 2029, at a CAGR of 5.4% during the forecast period 2022-2029. The increasing popularity of DIY projects among homeowners and hobbyists is a significant driver of the Power Tools Market. This trend fuels demand for residential power tools as more individuals seek tools for home improvement and creative endeavors.
Key Findings of the Study
Industrial growth is expected to drive the market's growth rate
Rapid industrialization and the construction boom drive the power tools market by creating a robust demand across various sectors. Manufacturing and construction industries rely heavily on power tools for precision, efficiency, and productivity. Moreover, expanding infrastructure and real estate projects worldwide further elevate the need for power tools. As these sectors grow, the market experiences consistent demand, making industrialization and construction activities a significant driver in the power tools industry.
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, Nailers, Routing Tools, Portable Nibblers, Air-Powered Tools, Material Removal Tools, Electric Cords and Plugs, Chisels 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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Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
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Market Players Covered
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Atlas Copco AB (Sweden), Stanley Black & Decker, Inc. (U.S.), Snap-on Incorporated (U.S.), Robert Bosch GmbH (Germany), Koki Holdings Co., Ltd. (Japan), Emerson Electric Co. (U.S.), Festool GmbH (Germany), KYOCERA Corporation (Japan), Ingersoll Rand (Ireland), Makita Corporation (Japan), Hilti AG (Liechtenstein), Husqvarna AB (Sweden), Panasonic Corporation of Europe (A subsidiary of Panasonic Corporation) (Netherlands), Techtronic Industries Co. Ltd (Hong Kong), Apex Tool Group, LLC. (U.S.), 3M (U.S.), Delta Power Equipment Corporation (U.S.), C. & E. Fein GmbH (Germany)
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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 Europe 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 market is segmented into sawing and cutting tools, drilling and fastening tools, demolition tools, nailers, routing tools, portable nibblers, air-powered tools, material removal tools, electric cords and plugs, chisels, accessories, others.
- On the basis of mode of operation, the market is segmented into electric, liquid fuel tool, hydraulic, pneumatic, and powder-actuated tools.
- On the basis of application, the market is segmented into concrete and construction, woodworking, metalworking, welding, and others.
- On the basis of material, the market is segmented into concrete, wood/metal, brick/block, glass, and others.
- On the basis of end user, the market is segmented into industrial/professional, and residential.
- On the basis of sales channel, the market is segmented into indirect sales, and direct sales.
Major Players
Data Bridge Market Research recognizes the following companies as the Europe power tools market players in Europe power tools market are Atlas Copco AB (Sweden), Stanley Black & Decker, Inc. (U.S.), Snap-on Incorporated (U.S.), Robert Bosch GmbH (Germany), Koki Holdings Co., Ltd. (Japan), Emerson Electric Co. (U.S.), Festool GmbH (Germany), KYOCERA Corporation (Japan).
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 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 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 V2* 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 Europe power tools market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe
As per Data Bridge Market Research analysis:
Germany is the dominant region in the Europe power tools market during the forecast period 2022-2029
Germany dominates the European power tools market due to its leadership in automobile manufacturing. The automotive industry heavily depends on power tools for their assembly processes, which significantly contributes to the growth of the power tools market. Germany's strong manufacturing base and its pivotal role in automotive production make it a key driver of the power tools sector within the European region.
France is expected to dominate the Europe power tools market in the forecast period 2022-2029
France is poised to lead the European power tools market due to several factors. The country boasts a strong industrial base, where construction and manufacturing sectors rely on power tools extensively. Additionally, increasing investment in infrastructure development and a growing DIY culture among consumers drive demand. France's strategic location and economic influence in Europe position it as a major player in the flourishing power tools market across the continent.
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