LONDON--(BUSINESS WIRE)--Technavio analysts forecast the power tools market in Europe to grow at a CAGR of close to 4% during the forecast period, according to their latest market research report.
The development of power tools with smart technologies is one of the major trends being witnessed in the power tools market in Europe 2018-2022. Established power tool brands such as Milwaukee, Bosch, and DEWALT have introduced smart technologies in their product line up. For example, Bluetooth connectivity allows individuals responsible for the custody of power tools to track the status and ensure the safety of the tools. Smart technologies such as these will impact the growth of the market during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the power tools market in Europe is the growing popularity of cordless power tools:
Power tools market in Europe: Growing popularity of cordless power tools
Growing popularity of DIY in the European home improvement market has led to an increase in demand for power tools that are convenient, lightweight, safe, and enable freedom of movement. There has been an increase in demand for cordless power tools in Europe, which is the fastest growing product segment of the power tools market in Europe. Thus, the growing demand for cordless power tools will fuel the growth of the power tools market in Europe.
“Apart from the growing popularity of cordless power tools, factors such as the growth of commercial and residential end-user markets, along with the increasing demand for power tools from industries will drive the growth of the power tools market in Europe during the forecast period," says a senior research analyst from Technavio.
Power tools market in Europe: Segmentation analysis
The power tools market in Europe research report provides market segmentation by technology (electric, pneumatic, and engine-driven), by end-user (commercial, residential, and industrial) and by region (Germany, France, and the UK). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The electric segment held the largest share of the market in 2017, followed by pneumatic, and engine-driven segment respectively. The electric segment will continue to dominate the market with the highest incremental growth during the forecast period.
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Market Landscape
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- Market characteristics
- Market segmentation analysis
Market Sizing
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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