Global Cordless Power Tools Market Analysis 2021, Industry Growth, Trends, Opportunities Forecast to 2027

NEW JERSEY, UNITED STATES, November 18, 2021 /EINPresswire.com/ -- Description

The ""Global Cordless Power Tools market Size, Status, and Forecast 2027"" study from CMI provides an overview of the global Cordless Power Tools market. This section illuminates the primary impact-rendering factors and restrictions limiting expansion. It enables people to comprehend various flaws and how they may obstruct future growth. This section is one of the most important in the report since it explains how many macro and microeconomic factors affect growth. The research also discusses the role of several sectors in the expansion, including small-scale and large-scale operations. Furthermore, industry specialists have presented current trends and prospects that are expected to boost growth in the next years.

There are several types of power tools used by workers in the workplace. The major types of portable power tools include impact drivers, saws, drills, shaping tools and other woodworking tools. Power tools are segmented as pneumatic, electric, and hydraulic, of which electric tools are most commonly used. Drills are most often used to cut large materials into specified lengths or shapes. The best power tool is the one that is easy to use. The tool should be easy to maneuver and easy to store when not in use. It must be easily accessible and easy to use. Tools that are not portable or not convenient to store require frequent trips to the shop or work.

Major Key players in this Market:

Atlas Copco, Hilti, Husqvarna, Hitachi, and Snap-on.

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Increasing number of housing units is expected to propel growth of the global power tools market during the forecast period. For instance, according to the U.S. Census Bureau, from 2000 to 2018, the U.S. population increased by 16.3%, while the number of housing units increased by 19.5%.

Among end users, the automotive sector is expected to witness decline in demand for power tools, due to decline in sales of automobiles. For instance, according to the Society of Motor Manufacturers and Traders, the new car registrations in the U.K. decreased by 44% in March 2020 compared that in March 2019. In April 2020, Kia Motors announced that its South Korea-based contract manufacturer for compact vehicles has suspended production.

In the healthcare sector, the demand for power tools is driven by high prevalence of orthopedic diseases. For instance, according to the Study, ‘Prevalence of Musculoskeletal Injuries, Pain, and Illnesses in Elite Female Basketball Players, in Europe, in June 2019, the most frequently injured body parts were lower limbs: more than 60%, representing an injury rate of 0.14 per athletes and a 0.2 pain rate per athlete (during the study period).

Cordless Power tools Market Segmentations:

On the basis of product type, the global cordless power tools market is classified into:
Drills
Saws
Sanders
Grinders
Nail Guns
Bare Tools
Woodworking & other tools
Power tool accessories

On the basis of battery type, the global cordless power tools market is classified into:
NiCad
NiMH
Li-ion

On the basis of end use, the global cordless power tools market is classified into:
Professional
Automotive & transportation
Aerospace & defense
Electronics
Energy
Industrial Assembly
Others
Household

Regional Analysis
North America, Europe, Asia Pacific, Central and South America, as well as the Middle East and Africa, are among the major regions investigated in the research report. The experts in this section of the research have looked into a number of sectors that are contributing to the development and could provide manufacturers with profitable growth opportunities in the coming years. The research also includes sales and revenue forecast data for the years 2021-2027 by area and country.

Covered FAQ’s:

What factors will limit the growth of the Cordless Power Tools market?
In the Cordless Power Tools industry, which end-use segment will grow at the fastest CAGR?
In the Cordless Power Tools market, who are the up-and-coming players?
Is the Cordless Power Tools market very concentrated?
Which factors are promoting the growth of the Cordless Power Tools market?
What are the most recent Cordless Power Tools product innovations?
In the Cordless Power Tools market, which product segment will be the most profitable?
What reasons are causing the Cordless Power Tools market to become more competitive?
What strategic actions have the players in the Cordless Power Tools industry taken?
Which part of the country will see inactive growth?

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Raj Shah
Coherent Market Insights Pvt. Ltd.
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