LONDON--(BUSINESS WIRE)--Technavio has been monitoring the power tools market in the US since 2017 and the market is poised to grow by USD 4.31 billion during 2019-2023, progressing at a CAGR of over 6% during the forecast period. Request Free Sample Pages
Read the 139-page research report with TOC on "Power Tools Market in the US Analysis Report by End-user (Professional and Consumer), by Technology (Electric, Pneumatic, and Others), and Segment Forecasts, 2019-2023."
The market is driven by the growing demand for power tools for DIY projects in the US. In addition, the introduction of portable power tools with smart technologies is anticipated to further boost the growth of the power tools market in the US.
Individuals such as amateurs, hobbyists, enthusiasts, or residents engage themselves in DIY projects such as rebuilding, maintenance, upgrading, and modification of their material possessions such as automobiles, bicycles, and household appliances. This is driving the demand for suitable tools, raw and semi-furnished raw materials, and equipment. These individuals gather information on numerous power tools available in the market, brands, and their prices to make informed decision before purchasing the required product. Thus, the growing demand for power tools for DIY projects in the US is expected to drive market growth during the forecast period.
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Major Five Power Tools Market Companies in the US:
APEX Tool Group
APEX Tool Group is headquartered in the US and serves the electronics, construction, industrial, vehicle service and assembly, aerospace, and DIY markets. The company offers various products such as Right Angle Grinder and LiveWire 2 - 17 Series.
Emerson Electric
Emerson Electric is headquartered in the US and offers products through the following business segments: Automation solutions, Climate technologies, and Tools and home products. The company offers various products such as 12V palm impact screwdriver, which is a cordless electric screwdriver.
Ingersoll-Rand
Ingersoll-Rand is headquartered in Ireland and has business operations under different business segments, namely Climate and Industrial. The company offers various products such as 12v Impact Wrench and 409 Die Grinder. The company has also launched P33N for manufacturing aircrafts.
Makita
Makita is headquartered in Japan and offers products through the following business segments: Power tools, Gardening equipment, household, and other products; and Parts, repairs, and accessories. The company offers various products such as XCU06Z and AN454.
Robert Bosch
Robert Bosch is headquartered in Germany and offers products through the following business segments: Mobility solutions, Industrial technology, Consumer goods, and Energy and building technology. The company offers various products such as CM10GD and BSH180.
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US Power Tools Market End-user Outlook (Revenue, USD Million, 2019-2023)
- Professional
- Consumer
US Power Tools Market Technology Outlook (Revenue, USD Million, 2019-2023)
- Electric
- Pneumatic
- Others
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