- The key vendors in the power tools market in Europe are Bosch GmbH, Makita Corp., Stanley Black & Decker Inc. and Techtronic Industries Co. Ltd.
London, 11 May 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the power tools market in Europe 2015-2019. One of the latest trends emerging in the market is the increased competition from Chinese manufacturers. The increase in competition has led to a decrease in the overall product pricing of power tools, which has given rise to price war among market players. The market is also facing higher competition from Chinese power tool vendors that offer efficient, low-cost products. The power tools market in Europe is expected to grow at a CAGR of 3.87 % during the forecast period 2014-2019.
Efficient completion of projects in minimum time is a major driver in this market. When timely delivery of projects play a major role in creating brand differentiation, vendors need to focus on reducing the time required for project completion by the use of efficient power tools.
“There is a growing demand for smaller and more ergonomic tools that are more powerful than traditional power tools. This has led to a significant demand for smaller and lighter tools,” says Faisal Ghaus, Vice President of Technavio Research.
“The increase in requirement has made the 12-volt lithium-ion battery a widely used component in the professional power tools market as lithium-ion batteries provide the benefit of packing more power into a small-sized device.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
