Technavio recognizes the following companies as the key players in Power Tools Market in the US 2015-2019: Bosch Rexroth, Makita Corp., Stanley Black & Decker Inc. and Techtronic Industries Co. Ltd.
Other Prominent Vendors in the market are: Actuant, Blount International, Emerson Electric, Hilti, Hitachi Koki, Panasonic and Snap-On.
Commenting on the report, an analyst from Technavio’s team said: “The power tools market in the US shows immense potential and is expected to grow during the forecast period because of certain positive trends emerging in the market. The increase in competition has led to price wars among vendors, which has forced vendors to provide end-users with power tools at lower prices.”
According to the report, the recovery of the manufacturing industry is the main driver in the market. Since the economic crisis of 2008, the US economy has been recovering. This has led to an increase in manufacturing industries and in particular automotive industries, which are the greatest users of power tools in manufacturing.
Further, the report states that lack of product differentiation is a main challenge in the market.
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/report/power-tools-market-in-the-us-2014-2019
Technavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit- https://www.technavio.com/engineering-and-automation
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