Power Tools Market 2022: Increasing Demand for Efficient Management Practices Report

 The global power tools market is predicted to reach a value of US$ 51.2 Bn in 2032, with sales growing at a moderate CAGR of 5.1% from 2022 to 2032. Driven by the surging demand for electric power tools and portable power tools, the target market will reach an estimated US$ 33.36 Bn in 2022. Increasing application in aerospace, automotive, construction, and other industry verticals further fuels the growth of the power tools market during the forecast period.

  • In 2022, the offline sales segment will account for 64.3% of the market share.
  • By product type, the drilling tools segment will hold 17% of the overall market share.
  • The construction application segment will acquire about 30% of the market share during the forecast period.
  • The electric technology segment will register high demand due to higher investment in advanced technology.
  • Favorable government support for infrastructure development will fuel the target market growth in the U.K.
  • Expanding construction sector will drive the power tools market in Germany.

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