United States (USA) Power Tools Market Research Report, 2028

United States (USA) Power Tools Market Research Report, 2028

Actual Market Research 30-01-2023 63 Pages Figures : 5 Tables : 14 Region : North America Country : United States Category : Manufacturing & Industry Machinery, Parts & Equipment

The United States Power Tools market dominated the North America region. The growing demand for power tools for DIY projects in the United States is dramatically driving the growth of the power tools market in the United States, though factors such as may impede market growth. One of the primary factors driving power tool adoption in the United States is rising construction spending. The country has seen a significant increase in construction spending in recent years, which is expected to continue in the near future. This can be attributed to the government's various beneficial initiatives. For example, the United States government's infrastructure plan, announced in January 2021, calls for upgrading airports, modernizing ageing road infrastructure and transit systems, and retrofitting over two million homes and commercial buildings. Such initiatives are expected to result in aggressive investments in non-residential construction projects, driving market growth. According to the research report, “United States (U.S) Power Tools Market Research Report, 2028”published by Actual Market Research, the market is anticipated to add up to 2.04 Billion market size during the upcoming timeframe. During the forecast period, drilling and fastening tools are expected to account for the largest share of the power tools market by tool type. During the forecast period, the market for electric mode of operation tools is expected to grow at the fastest CAGR. Electric tools are plug-and-play, whereas cordless tools are simple to use, efficient, and convenient. End users prefer cordless tools over traditional tools due to their ergonomic benefits. The growing demand for lightweight, portable, flexible, and compact tools, as well as the growing DIY trend among homeowners, is driving the adoption of electric power tools for residential and DIY use. Material removal tools are expected to grow at a faster CAGR during the forecast period. These are end-effectors that are used to remove unwanted material from workpieces in order to achieve the desired shape. Sanders, polishers, buffers, air scalers, and grinders are examples of material removal tools used in industrial and residential applications. These tools are ergonomically designed for the users' comfort and safety. These tools are powered by either electricity or pneumatics. Cordless electric material removal tools are widely used in a variety of industrial applications, driving segment growth. The number of people evaluating each power tool brand in the 2022 study included Approximately 5,286 customers shopping for a power tool. Some of the top power tools brands are Dewalt, Craftsman, Back+Decker, Bosch, Stanley, Ryobi, Kobalt, Milwaukee, Makita, Husky, Ridgid and many more. Most adults in the United States engage in creative and purposeful leisure activities. Most people, depending on their interests, also engage in home improvement and maintenance activities. The demand for DIY power tools is increasing as the middle-class population seeks to improve their living conditions. Power tool manufacturing necessitates the use of resin as well as ferrous and nonferrous metals such as steel, zinc, copper, brass, aluminum, and nickel. Other components required for these tools include batteries, motors, brushes, belts, power cords, and other electronic components. The rising cost of materials, component parts, or finished goods may cause manufacturing interruptions, delays, inefficiencies, or the inability to market products. The widely fluctuating raw material costs also result in ineffective price management and fluctuating profit margins. These fluctuations in raw material prices increase the price of power tools and have an impact on sales, limiting the growth of the power tools market. In the USA, there has been an increased demand for efficient power tools due to the growing popularity of flexible battery systems that eliminate redundancy and galvanize the productivity of power tool operators. However, during the forecast period, the Canadian market is expected to register substantial growth in the demand for power tools on the back of a surge in infrastructure projects in the country. In the U.S., Canada and Mexico, the Bosch Group manufactures and markets automotive original equipment and aftermarket products, industrial drives and control technology, power tools, security and communication systems, packaging technology, thermo-technology, household appliances, healthcare telemedicine and software solutions. The manufacturing requirements for cordless power tools are extensive in order to meet the diverse end-user demands across various geographies. Vendors must have agile manufacturing lines that can quickly adjust to short-term demand fluctuations from end customers when dealing with multiple customers and their expected standards. In residential applications such as repairing furniture, fittings, or cutting pipes in plumbing, electrification, and residential construction projects, consumers prefer manual working with hand tools. Do-it-yourself applications are residential applications carried out by households themselves. However, using hand tools requires a lot of energy and time. Residential users are increasingly turning to power tools to repair furniture and remodel and refurbish existing homes. These tools are quick, efficient, and simple to cut, drill, and fasten. These tools make it possible to complete time-consuming residential construction and repair tasks with minimal disruption. Because of the growing demand for flexible, portable, and compact tools, electric cordless power tools are becoming increasingly popular among residential users. Hammers, cordless drills, jigsaws, sanders, cutters, electric screwdrivers, and other household power tools are included. Considered in this report • Geography: United States • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • United States Power Tools market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation 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.

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