China Power Tools & Hand Tools Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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China Power Tools & Hand Tools Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : January, 2023 | Semiconductor & Electronics

Report Digest

China Power Tools & Hand Tools Market: Overview

The China power tools & hand tools market has been estimated to grow at a noticeable speed in the forthcoming years. The market growth has been possible with the noteworthy increase in the expenditure on construction by domestic consumers. Along with this, the growing popularity of Do-It-for-Me (DIFM) and Do-It-Yourself (DIY) for home improvement is also boosting growth avenues in the global market. There has been a noticeable increase in infrastructure development projects that is likely to create expansion opportunities in the global China Power Tools & Hand Tools market during the forecast period.

There has been an increase in the popularity of cordless power tools that is further predicted to fuel growth opportunities in the forthcoming years. This rising popularity has been on the back of rising demand for miniaturized products. Further, technological advancements in battery technology and chip-making are likely to reduce the requirements for hand tools and corded power tools. Thus, owing to these factors, the China power tools & hand tools market is predicted to drive the expansion avenues in the upcoming years.

China Power Tools & Hand Tools Market: Key Trends

In recent years, industrialization has been increasing at a rapid pace across the globe. In addition to this, the growing count of construction projects in Zhejiang, Jiangsu, and Guangdong provinces have also been projected to fuel growth prospects in the China power tools & hand tools market in the years to come.

A decline in the sales avenues in the China power tools & hand tools market has been estimated in the following years. But there are still some chances of market recovery during the forecast period. This recovery in the sales opportunities has been predicted on the ground of expansion in the rail network and resumption of the construction activities. In addition to this, the Chinese government has announced the fiscal package in order to develop public infrastructure. Furthermore, the increased rate of purchase of these products through e-commerce websites is also likely to create sales avenues in the global market during the forecast period.

China is working as the hub of manufacturing of these tools. The country presents enormous demand opportunities for these power tools in order to cater to the requirements of mass production in the market. In addition to this, there are various benefits of these power tools compared to hand tools, such as increased operational efficiency and simplification of the heavy workloads. Furthermore, these devices are also used in residential as well as industrial sectors. Thus, owing to these increased applications, the China power tools & hand tools market has been projected to grow at a noticeable speed in the following years.

China Power Tools & Hand Tools Market: Competitive Dynamics and Key Developments

The nature of the China power tools & hand tools market has been highly competitive with the presence of some prominent players across the world. These market players have been putting constant efforts by adopting innumerable strategies to bring growth prospects in the global market during the forecast period. Some of the significant growth strategies include development as well as the launching of different technologically advanced products, portfolio diversion, mergers and acquisitions, expansion of different networks for distribution, and expansion of footprints of the organization.

For instance, Ronix Tools has introduced the novel power detect technology in April 2021. The technology is used to recognize the battery to which different tools are connected. This technology has been suitable for high-end applications.

The key players in the China power tools & hand tools market are:

  • Atlas Copco AB
  • Makita Corporation
  • Jiangsu Guoqiang Tools Co., Ltd.
  • Ebic Tools Limited
  • Koki Holdings Co., Ltd.
  • Hilti Corporation
  • Emerson Electric Co.
  • Ingersoll Rand, Inc. (Gardner Denver)
  • Hongyu Tool Corporation

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?