Global Portable Tools Market: Overview
Portable tools are advanced tools that are connected to a power source and can be easily moved from one place to another. Unlike tradition tools, they are free of wires and doesnot require switch connection for functioning. It has inbuilt power source and this gives its ability to move from one place to another. This makes them easy to handle and ease to use.
An upcoming Transparency Market Research report on the global portable tools market promises to cover all essential details that could help bolster growth in the future. The report covers key trends, challenges, geographical distribution, and the competitive landscape of the global portable tools market.
Global Portable Tools Market: Notable Developments
Some of the notable developments in the global portable tools market are
SKF, a predominant player in the portable tools market is providing portable tools with several desirable features. Some of them are low energy consumption, high shelf live, and greater efficiency. This is expected to increase demand for portable tools in the market.
Apart from this, several insurance companies are attractive insurance schemes for the workers injured using portable tools. This is expected to increase the adoption of the portable tools among the consumers.
Some of the predominant players operating in the global portable tools market are Techtronic Industries, Stanley Black & Decker, Inc., Robert Bosch GmbH, Hilti, Koki Holdings, Makita Corporation, and Robert Bosch. Key players are focusing on advanced technologies to augment growth in the global portable tools market.
Global Portable Tools Market: Key Growth Dynamics
The global portable tools market is expected to rise at a significant pace in the market. This is mainly because of the increasing demand for DIY tools among consumers. DIY tools are helpful in performing several small and menial activities such as decorating, building, and making repairs at home. One of the primary reasons for the increasing demand of portable tools is high cost of labors such as plumbers, electricians, and mechanics especially in developed countries, Due to this people prefer to do these work by themselves rather than employing a professional.
Apart from this, rising number of automobile users is another factor increasing the demand for portable tools. This is because vehicle owners often prefer to keep portable tools with them for self-repair of their vehicles for minor problems. This is expected to drive the growth of the global portable tools market.
On the flipside, reluctance among users to face mechanical problems is expected to hamper growth of the market.
However, advent of several advanced technologies such as brushless DC motors in portable power tools is likely to influence the portable tool market positively. This is expected to fuel the growth of the global market as brushless DC motors are reliable, demand less maintenance, and possess longer shelf life.
Global Portable Tools Market: Regional Outlook
Geographically, North America is expected to hold a majority of share in the portable tools market. This is mainly because of the rising penetration of automation industry in the region. Apart from this, high cost of the workers in the region is pushing people to adopt portable tool for several DYI work. This is expected to offer a substantial boost to the global portable tools market in the region.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.