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Power Tool Accessories Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A2171
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Market Overview:
The global power tool accessories market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
Power tools accessories refer to the additional fittings that are used in various engine-driven power, electric and pneumatic power devices. Drills, screwdrivers, and router bits, abrasives wheels, saw blades, chippers and threading products are some of the commonly used power tool accessories. These accessories are ergonomically designed to enhance the efficiency, convenience of use, battery performance and connectivity of the power tools. They also aid in simplifying repetitive tasks and minimizing the chances of human errors and injuries. Owing to this, they find extensive applications across various sectors, including electronics, construction, logistics, manufacturing and aerospace.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Rapid industrialization, along with the emerging trend of automation across the globe, is one of the key factors driving the growth. Furthermore, expansion in the construction and automotive industries is also providing a boost to the market growth. In line with this, there is a growing demand for fabricated metals, such as stamped metal products, fasteners and springs, which are manufactured using power tools, thereby increasing the utilization of power tool accessories. The widespread adoption of cordless power tools equipped with high-density Lithium-ion (Li-ion) batteries is also creating a positive impact on the market growth. In comparison to the traditionally used devices, cordless power tools, such as hammer drills, impact wrenches and circular saws, are more compact, mobile, multi-purpose and have a longer operational life. Other factors, including rapid urbanization, along with the development of smart technologies and low-cost and energy-efficient power tools, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global power tool accessories market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application and end-use sector.
Breakup by Type:
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- Drill Bits
- Screwdriver Bits
- Router Bits
- Circular Saw Blades
- Jig Saw Blades
- Band Saw Blades
- Abrasive Wheels
- Reciprocating Saw Blades
- Others
Breakup by Application:
- Milter Saw
- Drill Machine
- Reciprocating Saw
- Hole Saw
- Others
Breakup by End-Use Sector:
- Industrial
- Automotive
- Construction
- Aerospace and Defense
- Energy
- Marine
- Others
- Residential
Breakup by Region:
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- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Apex Tool Group LLC (Bain Capital Partners), Atlas Copco AB, Hilti Aktiengesellschaft, Husqvarna Group, Ingersoll-Rand Plc (Gardner Denver Holdings Inc.), Klein Tools Inc., Koki Holdings Co. Ltd. (KKR & Co. Inc.), Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black & Decker Inc., Techtronic Industries Company Limited, etc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Type, Application, End-Use Sector, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Apex Tool Group LLC (Bain Capital Partners), Atlas Copco AB, Hilti Aktiengesellschaft, Husqvarna Group, Ingersoll-Rand Plc (Gardner Denver Holdings Inc.), Klein Tools Inc., Koki Holdings Co. Ltd. (KKR & Co. Inc.), Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black & Decker Inc. and Techtronic Industries Company Limited |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global power tool accessories market was valued at US$ 2.0 Billion in 2022.
We expect the global power tool accessories market to exhibit a CAGR of 5.2% during 2023-2028.
Rapid industrialization, along with the rising adoption of ergonomically designed accessories to enhance the efficiency and simplify repetitive tasks, is currently driving the global power tool accessories market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries for power tool accessories.
Based on the type, the global power tool accessories market can be divided into drill bits, screwdriver bits, router bits, circular saw blades, jig saw blades, band saw blades, abrasive wheels, reciprocating saw blades, and others. Currently, drill bits exhibit a clear dominance in the market.
Based on the application, the global power tool accessories market has been categorized into milter saw, drill machine, reciprocating saw, hole saw, and others. Among these, milter saw holds the majority of the total market share.
Based on the end-use sector, the global power tool accessories market can be segmented into industrial and residential. Currently, the industrial sector represents the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global power tool accessories market include Apex Tool Group LLC (Bain Capital Partners), Atlas Copco AB, Hilti Aktiengesellschaft, Husqvarna Group, Ingersoll-Rand Plc (Gardner Denver Holdings Inc.), Klein Tools Inc., Koki Holdings Co. Ltd. (KKR & Co. Inc.), Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black & Decker Inc., Techtronic Industries Company Limited, etc.
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