LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global power drill market since 2016 and the market is poised to grow by USD 375.7 million during 2019-2023, progressing at a CAGR of close to 5% during the forecast period. Request Free Sample Pages
Read the 124-page research report with TOC on "Power Drill Market Analysis Report by Product (Hammer and rotary power drills, Traditional power drills, and Impact power drills), by Technology (Corded power drills, and Cordless power drills), by Geography (Americas, APAC, and EMEA), and Segment Forecasts, 2019 - 2023".
The market is driven by the increasing innovations in power drills through advanced technologies. In addition, the introduction of multifunctional power drills is anticipated to further boost the growth of the power drill market.
With the evolving needs of customers, competitors operating in the market are striving to introduce technology advanced products such as Makita’s power drills. This product provides users with higher resistance to dust and water as it is equipped with extreme protection technology (XPT). Other market players are offering power drill products with features such as variable drill bit size, low noise, and Li-ion battery technologies. Thus, the increasing innovations in power drills through advanced technologies are expected to drive market growth during the forecast period.
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Major Five Power Drill Market Companies:
Hilti
Hilti is headquartered in Liechtenstein and operates the businesses under various segments such as Anchor systems, Electric tools & accessories, Direct fastening & screw fastening, Firestop systems, Diamond systems, Measuring systems, and Installation systems.
Makita
Makita is headquartered in Japan and offers products through the following business units: Power Tools, Gardening Equipment, Household and Other Products, and Parts, Repairs and Accessories. The company offers corded and cordless power drills.
Panasonic
Panasonic is headquartered in Japan and has business operations under various business segments, namely Appliances, Eco Solutions, Connected Solutions, Automotive & Industrial Systems, and Others. The company offers cordless power drills.
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 corded and cordless power drills.
Stanley Black & Decker
Stanley Black & Decker is headquartered in the US and offers products through the following business segments: Tools & Storage, Industrial, and Security. The company offers corded and cordless power drills under the brand names PORTER-CABLE, BLACK+DECKER, CRAFTSMAN, and DEWALT.
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Power Drill Product Outlook (Revenue, USD Million, 2019 - 2023)
- Hammer and rotary power drills
- Traditional power drills
- Impact power drills
Power Drill Regional Outlook (Revenue, USD Million, 2019 - 2023)
- Americas
- APAC
- EMEA
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