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The power tool accessories market is primarily driven by the rapid expansion in the aerospace and construction industry.
SHERIDAN, WY, USA, July 19, 2022 /EINPresswire.com / -- According to the latest report by IMARC Group, titled“Power Tool Accessories Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global power tool accessories market reached a value of US$ 1.85 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.59 Billion by 2027, exhibiting at a CAGR of 5.6% during 2022-2027. Power tools are additional fittings that are used in several engine-driven power, pneumatic, and electric power devices. The commonly used power tool accessories include screwdrivers, drills, abrasive wheels, router bits, saw blades, threading products, and chippers. Power tools are ergonomically designed to enhance the battery performance, efficiency, and convenience of use. They help in minimizing the chances of human errors and injuries and simplifying repetitive tasks. As a result, power tool accessories are extensively used across the electronics, logistics, construction, aerospace, and manufacturing industries.
COVID-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Power Tool Accessories Market Trends:
The power tool accessories market is primarily driven by the rapid expansion in the aerospace and construction industry. The increasing automation and the rising demand for fabricated metals, such as fasteners and springs and stamped metal products, has significantly facilitated the demand for power tool accessories, which, in turn, is boosting the market growth. Moreover, the development of smart technologies and low-cost, energy-efficient tools and the widespread adoption of cordless power tools, such as hammer drills, are creating a positive outlook for the market.
Power Tool Accessories Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the power tool accessories market has been studied in the report with the detailed profiles of the key players operating in the market.
Competitive Landscape with Key Players:
•Apex Tool Group LLC (Bain Capital Partners)
•Atlas Copco AB
•Hilti Aktiengesellschaft
•Husqvarna Group
•Ingersoll-Rand Plc (Gardner Denver Holdings Inc.)
•Klein Tools Inc.
•Koki Holdings Co. Ltd. (KKR & Co. Inc.)
•Makita Corporation
•Robert Bosch GmbH
•Snap-On Incorporated
•Stanley Black & Decker Inc.
•Techtronic Industries Company Limited
Key Market Segmentation:
The report has segmented the global power tool accessories market on the basis of type, application, end-use sector and region.
Breakup by Type:
•Drill Bits
•Screwdriver Bits
•Router Bits
•Circular Saw Blades
•Jig Saw Blades
•Band Saw Blades
•Abrasive Wheels
•Reciprocating Saw Blades
•Others
Breakup by Application:
•Milter Saw
•Drill Machine
•Reciprocating Saw
•Hole Saw
•Others
Breakup by End-Use Sector:
•Industrial
•Residential
Breakup by Region:
•North America
•Canada
•Asia Pacific
•Europe
•Latin America
•Middle East and Africa
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Key Highlights of the Report:
•Market Performance (2016-2021)
•Market Outlook (2022-2027)
•Market Trends
•Market Drivers and Success Factors
•Impact of COVID-19
•Value Chain Analysis
•Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
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