South America Power Tools Market Research Report, 2028

A power tool is any device that can be activated by an additional power source or mechanism that is not solely used by manual labour or hand tools. Internal combustion engines and compressed air are two major types of power tools. Other power sources include steam engines, direct combustion of fuels and propellants, such as in powder-actuated devices, and natural power sources such as wind or water. In general, tools that are directly propelled by animal power are not considered power tools. The majority of market expansion is likely to be driven by massive demand for power tools across South America's rapidly growing industries such as automotive, construction, aerospace & defence, and so on, combined with increasing urbanisation, significant government expenditure on infrastructure development, high disposable incomes, and the shift from manual labour to easy & efficient power tools. The region's constantly expanding construction sector, led by Brazil, Columbia, Chile, and Peru, is fuelled by adequate public and private capital and stable commodity prices from extraction markets, which are attracting massive investments in infrastructure development. On the other hand, Brazil's automotive industry is among the largest in the world, owing to rapidly increasing passenger vehicle production and exports. According to the research report, “South America Power Tools Market Research Report, 2028”published by Actual Market Research, the market is anticipated to grow in a significant way during the forecast period. It is estimated that the power tools market in South America is growing at a CAGR of 6.67% over the Research Report period of 2023-28. The construction industry is rapidly expanding across South America as a result of numerous on-going and proposed infrastructure development projects. Governments are investing heavily in both commercial and residential infrastructure development, thereby increasing demand for more effective and innovative power tools for a variety of applications. As a result, the South America power tools market is being driven by the growing demand for such products in the construction sector. Furthermore, the leading market players are collaborating and actively focusing on expanding their production and distribution capacities, particularly for cordless power tools, due to their flexibility and ability to deliver enhanced productivity, in order to meet the growing demand for these products, particularly in the construction industry, which will further propel market expansion in the construction industry in the years to come. According to the report, the market is divided into three major countries: Brazil, Argentina, and Colombia. Brazil leads the market in 2022 with a market share of around 36%, followed by Argentina. These countries are experiencing rapid urbanisation and infrastructure development, which will help the market grow at a rapid pace during the forecast period. While South American countries were initially slow to promote industrial exports, they eventually began to capitalise on their low labour costs. Brazil was the region's most prominent exporter, producing and selling automobiles to other developing countries as well as parts and components to industrial countries worldwide. As a result, these countries took advantage of their lower labour costs to establish assembly plants, which proliferated in Central America and the Caribbean. Based on these factors, the South American power tools market is expected to grow at a rapid pace over the next five years, owing to increased technological advancements. New product innovations have emerged as the most popular trend in the power tools market. To maintain their market position, major players in the power tools market are developing new product innovations. The growing use of power tools in the automotive sector for a variety of applications such as production & assembly lines, maintenance & repair, packaging, and so on, due to benefits such as easy & efficient operation, reduced task completion time, fewer labour requirements, and flexibility, is one of the major factors driving the power tools accessories market in South America. Furthermore, with the growing popularity of DIY activities in the region, cordless power tools are gaining traction in household applications, owing to their mobility and hassle-free operation, opening up new opportunities for the power tools market in South America in the coming years. Based on these factors, residential power tool application is expected to grow rapidly for 2023-28. Drilling and fastening tools will command more than 30% of the market in 2022, owing to the massive demand for drills as the primary repair and maintenance power tools in both industrial and residential applications such as home improvement, equipment maintenance, and drywall fixation, among others, owing to their easier and more cost-effective operations than other tools. Furthermore, advancements in drilling technology, such as increased resistance to unbalanced temperature and shocks and vibrations, as well as improved durability, are contributing to increased drill sales in South America's construction and manufacturing sectors. As a result, it is increasing demand for their accessories such as drill bits and fuelling overall market growth. On the other hand, demolition and sawing & cutting tools are projected to acquire more than 45% of market share in the same year. The electrical segment is expected to dominate the market by the end of the forecast period based on mode of operation. Cordless electric tools are gaining popularity across South American countries and are expected to grow significantly in the coming years. Because of their convenience and mobility, they are increasingly replacing plug-in power tools in a variety of industries. Battery technological advancements, such as the switch from nickel (Ni) to lithium-ion (Li-ion) batteries, have significantly improved the power and operation time of cordless power tools. With Li-ion batteries' higher energy density, lighter weight, longer charge life, and smaller size, industries are increasingly adopting cordless models. As a result, their increasing production and sales are helping to fuel the South American power tools market. As a result, manufacturers are actively working to bring innovations to their product offerings in order to provide lightweight & easy-to-use power tools, primarily drills & hammers, to cater to the burgeoning end-user requirements, thereby propelling the overall growth of the power tools market across the South America region. Major Companies present in the market: Robert Bosch Gmbh, Stanley Black & Decker, Inc, Hilti Corporation, Atlas Copco Ab, Makita Corporation, Emerson Electric Co, Koki Holdings Co, Ltd, Ingersoll Rand, Enerpac Tool Group, Apex Tool Group, LLC, Snap-On Incorporated, Honeywell International Inc., Kyocera Corporation, Husqvarna Ab, 3M Considered in this report • Geography: South America • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South America Power Tools market with its value and forecast along with its segments • Country-wise Power Tools market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report: • Brazil • Argentina • Colombia By Tools Type: • Drilling and Fastening Tools • Demolition Tools • Sawing and Cutting Tools • Material Removal Tools • Routing Tools • Others By Mode of Operation: • Electric • Pneumatic • Others (Hydraulic) By Application Type: • Industrial • Residential The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Power Tools industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.