Smart Technologies to Gain Traction in Power Tools Market

Power Tools Market

The high speed of power tools has made them popular for multiple applications at home and commercial buildings. It requires minimum time and few efforts to complete several repair and construction tasks. Hence, demand for power tools has increased in few years. With rising demand, companies are introducing new and smart power tools that can provide support and simplify tasks. For instance, Bosh in 2017 Consumer Electronics Show introduced new Bosh Connected Power Tools. These power tools can be operated by Bosh Toolbox app. While using the app a user can control things such as soft-start, kickback, etc. These smart tools can be controlled one at a time using the app. Bosh has already launched four new connected power tools. Meanwhile, it is planning to launch three more connected power tools around September, 2017.

According to the report by Future Market Insights (FMI), the demand for power tools is anticipated to increase to 5% CAGR, reaching $36.2 billion in 2020 and $46.5 billion by 2025. Increasing production of power tools in India and China will drive the power tools market. While export to western countries is expected to add to the revenues. Manufacturers of power tools are also focusing on Lithium-ion batteries instead of Ni-CD batteries, to meet the end-user demand for energy-efficient and lightweight systems. Moreover, branded power tools will continue to face competition from China-manufactured power tools due to the low price.

Smart power tools to offer high efficiency and performance

With the emergence of new technology, power tools manufacturers are also introducing new power tools with advanced features such as Bluetooth enabled tools, cordless tools, etc. with advancement in building and construction industry demand for new power tools is also increasing. Connected technology is gaining popularity in power tools market such as, DeWalt released Tool Connect App, which connects the user to the Bluetooth enabled batteries to control tools and receive alerts. The company also released FLEXVOLT battery which automatically changes voltage when the tool is changed.

Several manufacturers are leading the way with smart power tools. For instance, Robert Bosh in 2017 introduced LED floodlight that can be controlled by an app. In the coming years, the company plans to introduce app-controlled hammer drills and drivers, providing digital connectivity.

Manufacturers are also focusing on introducing underwater power tools. For example, Nemo is the first electric waterproof drill. Nemo has introduced cordless power tools that can work both on land and water. The Nemo V2 divers’ edition drill can be used underwater. The V2 drill also consists of two LED work lights to work in deep waters.

Bosh power tools has also introduced dirt removal power tools. Its new product is high-pressure washers. The products include rotary jet, fan jet and high-pressure pencil jet. More such companies are introducing new power tools to work in extreme conditions.

Use and demand for cordless power tools is also rising due to improved performance and high efficiency. Manufacturers are also trying to make cordless tools more convenient, by enhancing the safety feature and making them easy to use, especially for DIYers.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-760

About the Author

Nikhil Kaitwade

With over 8 years of experience in market research and consulting industry, Nikhil has worked on more than 250 research assignments pertaining to chemicals, materials and energy sector. He has worked directly with about 35 reputed companies as lead consultant for plant expansion, product positioning, capacity factor analysis, new market/segment exploration, export market opportunity evaluation and sourcing strategies.

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