London, 22 July 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Power Tool Market, which is expected to grow at CAGR of 4.48 percent from 2013-2018.
There are several types of power tool such as engine-driven power tools, electric power tools, and pneumatic power tools. These tools have a variety of applications across a range on industries, from construction to automotive.
Key Market Drivers
- Need for Faster Accomplishment of Projects
- Recovery of the Manufacturing Sector
- Need for Quality Product Development
- Increased Adoption of Power Tools in Other Industry Segments
Key Market Trends
- Increased Competition from Chinese Manufacturers
- Emergence of Energy-efficient Power Tools
- Demand for Smaller and More Powerful Power Tools
“The future of the Global Power Tools market looks promising because of the increase in demand for advanced technology power tools by the professional segments which refers to automotive, construction, and manufacturing. These sectors will be the main factors increasing demand for power tools over the projected period,” states Faisal Ghaus, Vice President of TechNavio.
To define the market circumstances 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%…
