TechNavio today launched its report, Power Tools Market in the US 2012-2016, based on an in-depth analysis exclusively focusing on the US. The report aims to aid decision makers’ understanding of the present and future landscape of the market.
Commenting on the report, an analyst from TechNavio’s Engineering team said: ”In the last few years, there has been a rapid increase in competition among the vendors in the Power Tools market in the US. The increased competition leads to a decrease in the overall price of power tools. Consequently, there is an increase in price wars among the players in the market. Though several vendors in the Power Tools market in the US are witnessing increased labor costs, the vendors are absorbing these costs to provide cost-effective power tools. This is also due to the large variety of vendors and their varying pricing strategies aimed at capturing significant shares in the market. Furthermore, vendors are focusing on the development of economically priced products in an attempt to tap the Micro, Small, and Medium-scale Enterprises sector. However, the vendors in the market are also facing increased competition from the Chinese power tool vendors that offer low-cost power tools.”
According to the report, one of the main drivers is the increased need for the faster accomplishment of projects. Therefore, to develop superior-quality products in minimal time, power tools are deployed across a range of industries in the country.
Further, the report reveals that one of the main challenges in this market is the high cost of power tools.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/power-tools-market-us-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic market research reports on niche and emerging technologies. For more information on our Engineering market research, please visit https://www.technavio.com/engineering-software
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TechNavio Announces the Publication of its Research Report – Power Tools Market in the US 2012-2016
