Steady growth in the automotive sales as well as increasing demand from the semiconductor industry is expected to fuel the growth of power tools market in the near future. Increasing number of construction projects and the rapid need for finishing work faster are also expected to increase the production sales of power tools.
A recent study by the FMI (Future Market Insights) predicts a steady CAGR growth of more than 5% for the power tools market during the expected period, 2015-2025. In addition, the power tools market is probable to reach a valuation of nearly US$ 46.5Bn by 2025-end. Increasing effective power tools for the end-users is likely to be an important trend, progressively influencing growth of the power tools market. Furthermore, the study poses beneficial insights for the growth of power tools market in the approaching years.
Many analysts have been taking major part in the development of this report and have assured that there is delivery of valuable facts and figures with regards to the expansion of power tools market through 2025. Moreover, the analysts have been catering to the mounting concerns of industry backers and market observers.
What are manufacturers working on for expansion of the power tools market?
Manufacturers are taking immense efforts in catering to the increasing demand of the end-users who have a growing preference for the power tools, which in turn will help in the expansion of global market as well. Also, the market is observing increasing demand for energy-efficient and lightweight systems.
What according to you are the main factors driving growth of power tools market?
Based on analysis, there has been increasing demand for the cordless power tools that leads to rising adoption of power tools, especially in the developing regions. Increasing number of construction sectors is also expected to significantly drive the production sales of power tools in the forthcoming years.
What according to you are some of the major factors that are posing challenges in the growth of power tools market?
Well, increasing availability of unbranded and cheap power tools as well as intense pricing competition is expected to pose significant challenges in the growth of power tools market.
On the basis of regional landscape, which region do you think will prove highly lucrative for the power tools market?
On the basis of regional landscape, APEJ region is likely to be highly lucrative for the growth of power tools market in the near future. Apart from this, China is expected to hold the lion’s share in the global market over the forecast period. North America and Western Europe are likely to prove as lucrative regions in the power tools market.
Can you name few key players in the power tools market?
Well, the in-depth analysis displays Hitachi Koki Co. Ltd, Makita Corporation, Robert Bosch GmbH, SKF, Snap-on Incorporated, Techtronic Industries Company Limited and Stanley Black & Decker, Inc. amongst others as key players in the power tools market.
A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-760