Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Power Tools Market Research Report – Global Foreca | Page 2

Professional
Household
Industry News:
In March, 2017 - Stanley Black & Decker completed its acquisition with Newell Brands tools
business to expand the product portfolio. This acquisition is will expand the presence of
company in the global tools market. Moreover, the addition of Irwin, Lenox and Hilmor brands
will enhance the company’s product portfolio. As a result, this will make a positive impact on
the power tool industry to expand the market growth in the untapped regions.
In March, 2017 – Bosch Power Tools India announced to offer a complete range of power tools
for construction, metalwork and woodwork industry. This new plant will produce millionth
power tool from its Chennai facility which manufacture products such as angle grinders, rotary
hammers, marble cutters, impact and rotary drills, air blowers including motors for all the tools.
This expansion will result in expanding the market share of Bosch Power Tools in Indian market.
Market Synopsis of Global Power Tools:
Power tools are various types of tools and mechanical devices that operate when they are
initiated by an additional power source and mechanism and not the manual labor used with
hand tools. This could generally be electric motors, compressed or internal combustion engines.
The growth of global power tools market can be majorly attributed to increasing demand from
industrial sector and rising demand from professional segment. Also, increasing usage of power
tools for DIY & household activities is also expected to boost the market growth. However,
factors such as fluctuation in raw material prices is the major restraint that could hinder the
market growth.
Regional Insights
The power tools market has been victorious in making its presence felt across the globe. The
major regions where it prevails are North America, Europe, Asia Pacific and Rest of the World.
After a thorough analysis of all the growth trends of these regions the report by MRFR (Market
Research Future) concluded that North America will dominate in the coming years in terms of
region. Aspects like development of distribution channels and higher cost of manual labor
foster the growth of the market in this area. U.S. brings in the maximum business and accounts
for a huge market share of 81.44%.
The report for Global Power Tools Market of Market Research Future comprises of extensive
primary research along with the detailed analysis of qualitative as well as quantitative aspects