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Power Drill Market to record USD 540.03 Mn growth -- Driven by increased innovations in power drills through advanced technologies

·15 min read

NEW YORK, Sept. 12, 2022 /PRNewswire/ -- The global power drill market size is expected to grow by USD 540.03 million between 2021 and 2026, accelerating at a CAGR of 5.79% during the forecast period. The market is fragmented due to the presence of a large number of local and international players. Due to the presence of a large number of players, the nature of the market is rendered highly competitive. The key vendors in the market are launching new products to increase their market shares. Understand the scope of the market. Download PDF Sample Report

Technavio has announced its latest market research report titled 
Power Drill Market by Product, Technology, and Geography - Forecast and Analysis 2022-2026
Technavio has announced its latest market research report titled Power Drill Market by Product, Technology, and Geography - Forecast and Analysis 2022-2026

The market is driven by increased innovations in power drills through advanced technologies. In addition, the advent of cordless power drills is anticipated to boost the growth of the power drill market.

Vendors in the market are constantly trying to develop innovative and technologically advanced products to cater to the evolving needs of consumers. For instance, Makita offers power drills that are equipped with extreme protection technology (XPT) to provide users with higher resistance to dust and water, especially in harsh job site conditions. Similarly, other market competitors such as Hilti, Panasonic, Stanley Black and Decker, Robert Bosch, and Techtronic Industries are offering innovative features such as variable speed, light-emitting diode (LED) lights for spotlight mode in dark and confined spaces, variable drill bit size, low-noise, and Li-ion battery technologies. The incorporation of such innovative features is increasing the acceptance of power drills among end-users, which is driving the growth of the market in focus.

The report segments the global power drill market by product (hammer and rotary power drills, impact and rotary power drills, and traditional and rotary power drills), technology (cordless power drills and corded power drills), and geography (North America, Europe, APAC, the Middle East and Africa, and South America).

Power Drill Market Product Outlook (Revenue, USD Million, 2021-2026)

  • Hammer and rotary power drills - size and forecast 2021-2026

  • Impact and rotary power drills - size and forecast 2021-2026

  • Traditional and rotary power drills - size and forecast 2021-2026

By product, the market growth will be significant in the hammer and rotary power drills segment during the forecast period. The segment is driven by the high preference for hammer and rotary power drills in the construction industry.

Power Drill Market Technology Outlook (Revenue, USD Million, 2021-2026)

  • Cordless power drills - size and forecast 2021-2026

  • Corded power drills - size and forecast 2021-2026

The cordless power drills will have the largest share of the market over the forecast period. The growth of the segment is driven by the increasing demand for cordless, battery-driven power tools, which have become very popular with DIY consumers in developed countries.

Power Drill Market Geography Outlook (Revenue, USD Million, 2021-2026)

  • North America - size and forecast 2021-2026

  • Europe - size and forecast 2021-2026

  • APAC - size and forecast 2021-2026

  • The Middle East and Africa - size and forecast 2021-2026

  • South America - size and forecast 2021-2026

The market will witness significant growth in APAC during the forecast period. The region will account for 34% of the global market share. Increasing investments in urban housing and the development of infrastructure and utilities are driving the growth of the regional market.

Major Vendors in the Global Power Drill Market:

  • Apex Tool Group LLC

  • Atlas Copco AB

  • C. and E. Fein GmbH

  • CHERVON China Trading Co. Ltd.

  • Emerson Electric Co.

  • Enerpac Tool Group Corp

  • Festool GmbH

  • Hilti Corp.

  • Ingersoll Rand Inc.

  • Jiangsu Dongcheng M and E Tools Co Ltd

  • Josch Group

  • Koki Holdings Co. Ltd.

  • Makita Corp.

  • Nemo Power Tools Ltd.

  • Panasonic Holdings Corp

  • Robert Bosch GmbH

  • Snap On Inc.

  • Stanley Black and Decker Inc.

  • Techtronic Industries Co. Ltd.

  • The Husqvarna Group

Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request Sample Report Here

Related Reports:

Power Drill Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.79%

Market growth 2022-2026

USD 540.03 million

Market structure

Fragmented

YoY growth (%)

4.73

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

APAC at 34%

Key consumer countries

US, Canada, China, Germany, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Apex Tool Group LLC, Atlas Copco AB, C. and E. Fein GmbH, CHERVON China Trading Co. Ltd., Emerson Electric Co., Enerpac Tool Group Corp, Festool GmbH, Hilti Corp., Ingersoll Rand Inc., Jiangsu Dongcheng M and E Tools Co Ltd, Josch Group, Koki Holdings Co. Ltd., Makita Corp., Nemo Power Tools Ltd., Panasonic Holdings Corp, Robert Bosch GmbH, Snap On Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., and The Husqvarna Group

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Product

  • 5.1 Market segments

  • 5.2 Comparison by Product

  • 5.3 Hammer and rotary power drills - Market size and forecast 2021-2026

  • 5.4 Impact power drills - Market size and forecast 2021-2026

  • 5.5 Traditional power drills - Market size and forecast 2021-2026

  • 5.6 Market opportunity by Product

6 Market Segmentation by Technology

  • 6.1 Market segments

  • 6.2 Comparison by Technology

  • 6.3 Cordless power drills - Market size and forecast 2021-2026

  • 6.4 Corded power drills - Market size and forecast 2021-2026

  • 6.5 Market opportunity by Technology

7 Customer Landscape

  • 7.1 Customer landscape overview

8 Geographic Landscape

  • 8.1 Geographic segmentation

  • 8.2 Geographic comparison

  • 8.3 North America - Market size and forecast 2021-2026

  • 8.4 Europe - Market size and forecast 2021-2026

  • 8.5 APAC - Market size and forecast 2021-2026

  • 8.6 Middle East and Africa - Market size and forecast 2021-2026

  • 8.7 South America - Market size and forecast 2021-2026

  • 8.8 US - Market size and forecast 2021-2026

  • 8.9 Germany - Market size and forecast 2021-2026

  • 8.10 China - Market size and forecast 2021-2026

  • 8.11 Canada - Market size and forecast 2021-2026

  • 8.12 France - Market size and forecast 2021-2026

  • 8.13 Market opportunity by geography

9 Drivers, Challenges, and Trends

  • 9.1 Market drivers

  • 9.2 Market challenges

  • 9.3 Impact of drivers and challenges

  • 9.4 Market trends

10 Vendor Landscape

  • 10.1 Overview

  • 10.2 Vendor landscape

  • 10.3 Landscape disruption

  • 10.4 Industry risks

11 Vendor Analysis

  • 11.1 Vendors covered

  • 11.2 Market positioning of vendors

  • 11.3 Atlas Copco AB

  • 11.4 Emerson Electric Co.

  • 11.5 Enerpac Tool Group Corp

  • 11.6 Hilti Corp.

  • 11.7 Ingersoll Rand Inc.

  • 11.8 Koki Holdings Co. Ltd.

  • 11.9 Makita Corp.

  • 11.10 Robert Bosch GmbH

  • 11.11 Stanley Black and Decker Inc.

  • 11.12 Techtronic Industries Co. Ltd.

12 Appendix

  • 12.1 Scope of the report

  • 12.2 Inclusions and exclusions checklist

  • 12.3 Currency conversion rates for US$

  • 12.4 Research methodology

  • 12.5 List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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