Global Power Tools Market 2017-2021 - Switch from Ni-Cd to Li-ion Battery Chemistry

The global power tools market to grow at a CAGR of 4.77% during the period 2017-2021.

Global Power Tools Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

According to the report, one of the major drivers for this market is Rise in global construction and infrastructure development activities. Power tools are most commonly used in the construction industry. These tools are essential to carry out construction operations such as cutting, drilling, and grinding. They are essentially support tools used to increase the efficiency and productivity of labor at construction sites. Therefore, any growth in the global construction activities will have a positive impact on the global power tools market.

The latest trend gaining momentum in the market is Wireless battery charging technology. Cordless, battery-powered electric power tools have been available in the market for several years, but their adoption has been slow due to functional issues with battery operated tools, including long charge times and short duration of the operation. Most of the existing battery-powered power tools require the removal of the battery pack from the tool for charging. However, the rising number of complaints and feedback from end-users regarding the time consuming and cumbersome charging process has led to the development of wireless charging batteries for power tools. The adoption of this technology is expected to boost the market demand for cordless power tools.

Further, the report states that one of the major factors hindering the growth of this market is Volatility in prices of raw materials. The volatility in raw material prices may be a major challenge to vendors and manufacturers, as a number of players in the market start competing on the basis of pricing to sell their products, most of which are undifferentiated or generic power tools. The production of power tools involves the use of steel, copper, rubber, plastic, and other composites. Also, the motor inside most electric power tools constitutes magnets that are made of rare earth materials. Most of these raw materials are globally traded commodities, and their prices are prone to significant fluctuations, which may negatively impact power tool manufacturers due to a reduction in profit margins or sales caused by higher prices of power tools.

Key Market Trends

Key vendors

Other prominent vendors

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By Technology

Part 07: Regional Landscape

Part 08: Decision Framework

Part 09: Drivers And Challenges

Part 10: Market Trends

Part 11: Vendor Landscape

Part 12: Key Vendor Analysis

Part 13: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/t4qpcm/global_power

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