Growth Trends in the Power Tools Industry, 2024-2029 - Stanley Black & Decker, Bosch Power Tools, and TTI Dominate the Competitive Landscape

Market Overview - The global power tools market is projected to grow at a CAGR of 6.36% from 2023 to 2029 [2] - The estimated market value in 2023 is $40 billion, with a forecasted value of$57.9 billion by 2029 [22] Regional Insights - APAC held the largest share of the global power tools market, accounting for over 36% in 2023 [16] - China and India are significant drivers of growth in the construction industry due to rapid urbanization and industrialization [3][4] Adoption Trends - The adoption of power tools is increasing across various industries due to their productivity, precision, and efficiency benefits [5] - The rise in DIY projects and home improvement activities is boosting the power tools market, particularly in developed and developing economies [6][9] Market Segmentation - By operation type, the cutting segment is expected to be the largest revenue segment [10] - The drilling and fastening tools segment held the largest share of the global power tools market in 2023 [12] - The electric-powered segment dominates the market, with significant growth projected due to innovations in battery technology [13] Competitive Landscape - The market is moderately fragmented, with key players including Stanley Black & Decker, Bosch Power Tools, and TTI [19] - Bosch Power Tools leads through technological advancements, while local vendors compete in this dynamic landscape [19] Key Questions Addressed - The report addresses key questions regarding market dominance, size, growth rate, trends, and key players in the global power tools market [21]