Compact power equipment includes all tools required for lighter construction jobs. The equipment is small in size and used in developing products with more ease and convenience. These compact power tools are of several types, such as engine-driven power tools, electric power tools and pneumatic power tools. They are used for various operations, such as drilling, polishing, woodwork routing and screw driving.
Get | Download Sample Copy with Graphs & List of Figures:
Compact tools are primarily used for construction related jobs. These tools are used at construction sites for activities like drilling, hammering, cutting, grinding, washing and blowing of the equipment’s. Compact power tools are light-weighted, small in size, easy to handle and transport. However, they are more complex to handle than the commonly used hand tools, requires skilled labour, and regular maintenance to avoid tool wear.
Global compact power tools rental market is expected to grow at a steady rate, as the demand for power tools are on the rise in developing countries. Drivers responsible for the growth of power tools rental market include an increasing demand for fast accomplishment of projects and increasing infrastructural development activities at developing regions like Asia, where construction companies rent the tools from power tool companies as they cannot afford to invest in power equipment. The challenges ahead include continuous maintenance and high cost of equipment. Many a time, clients who borrow equipment from companies, damage the tools, which is also a major concern for the power tool rental market.
Key trends in compact power tools market are an increasing competition from Chinese manufacturers as Chinese vendors are penetrating this market with their tools with competitive prices as compared to other vendors.
Of the many players in the compact power tools market, Makita Corporation, Bosch, Stanley Black & Decker and Techtronic Industries are the dominant leaders. Other important players include Hilti Group, Panasonic Corporation, Emerson Electric Company, Snap-on Inc., etc. Mergers & acquisitions of key players provide opportunity to expand their product portfolio.
For More Information or Query or Customization Before Buying, Visit:
In North America, Bosch acquired SPX Corporation’s Service Solution business which manufactures, develops and sells service equipment and repairs workshop accessories. In Europe, Techtronic Industries acquired Ryobi’s power tools business and Royal Appliance Manufacturing Company, a market leader in North America which develops, markets and assembles cleaning appliances such as vacuum cleaners for domestic as well as commercial use. Emerson Electronics decided to focus on acquisitions and divestitures in order to increase investment in technology and also have a strong focus to acquire the market in developing countries. This is also because of decreasing demands of their products in Europe and market saturation in the U.S. and China.
The future of compact power equipment is very attractive due to an ever-increasing demand for compact power tools. Due to saturation of developed markets like Europe, the U.S. and China, players in this market are now moving their focus towards developing or emerging nations.
This research report presents a comprehensive assessment of the compact power equipment market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market types and geography.
Ask Us Your Questions About This Report:
Regional analysis includes
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa