Power Drill Market Size shall reach a value of $225.68 Million in 2027, growing with a CAGR of 3.2% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
A power drill is a device that is powered by an electrical motor to create a hole in plastic, metal, or wood. These drills attach screws and fasteners onto different surfaces. Power drills are mainly used for creating round holes on objects. They are widely used in residential and commercial sectors.
Power drills are used in different industries. Some of the most common end-use industries are aerospace, construction, and shipbuilding. They are produced with developed technologies to provide work effectiveness and perform tasks with little or no errors. Power drills reduce and simplify the work burden. It also reduces the likelihood of human errors and injury.
The power drill is extremely easy to utilize, which is a reason why it is a remarkably simple machine. Normally, squeezing the trigger turns the electric motor on, and then rotates the drill. However, development in drill control and design proves that theres more to it than that.
Power Drill Market Growth and Trends
Drivers :
• Powered by electrical motor, a power drill rotates a replaceable drill to create a hole in metal, plastic or wood. These drills attach fasteners and screws onto various surfaces.
• Power drills are widely utilized in commercial and residential sectors. With passage of time Power drills are developed with advanced technologies to provide maximum work efficiency with minimum of errors.
• They are mostly used to simplify and reduce work burden and minimize the chances of human errors as well as injury.
• Increased innovation, growth of smart technologies, coupled with development of low-cost, energy efficient power tools is expected to boost the production and sale of power drills in the coming years.
• The global power drill market is expected to see massive growth due to its ease of portability with the increased adoption of cordless power tools. In addition, augmented demand for fastening tools in various industries together with phenomenal growth of the construction industry is likely to work in favor of the global power drill market.
• The global power tools market offers abundant scope of growth for the manufacturers who want to bring on smart connectivity for these tools.
• Power drills are used in a wide variety of industries namely Construction, Aerospace and Shipbuilding
• The two most prominent end use segments for the power drill market the automotive industry, which is witnessing vast growth in lightweight vehicles and rapidly expanding construction industry.
• Consumers’ preference for use battery operated products is influenced by high fuel price and environmental concerns.
• Withadvancement in technology have enabled manufacturers to develop various innovative products.
• Improvement in performance and advancements in battery technologies have enabled manufacturers to produce wireless power drills to enhance mobility. Additionally, low prices of Li-ion and lead acid rechargeable battery packs is expected to contribute to the growth in demand for battery operated power drills.
• All these factors will have a positive and long lasting effect in the growth of the power tools market.
• Major global players inpower drill market are Hilti Corporation, Makita Corporation, Stanley Black & Decker, Inc., Robert Bosch GmbH, Panasonic Corporation.
Restraints :
• The high cost of maintenance of power tools is likely to pose threat to the growth of the global power drill market in near future.
• Also the volatility in the price of raw materials is expected to restrain growth of the market as well.
• Intense competition among market players and volatile raw material prices cause uncertainties in the power tools market, including the power drills market.
• Leading power drills manufacturers are effectively trying to provide cost efficient products to sustain in this competitive environment.
Power Drill Market Regional Analysis
Power Drill Market Share and Competition
Key companies operating in this industry are: Hilti Corporation, Makita Corporation, Stanley Black & Decker, Inc., Robert Bosch GmbH, Panasonic Corporation, DeWalt, Techtronic Industries Company Limited, SKIL Power Tools, Konica Minolta, Inc., Hitachi, Ltd., and Jiangsu Dongcheng Power Tools Co., Ltd. Similar industries in this domain that is growing at a high CAGR include Core Drilling Machines Market and Upright Drilling Machine Market.
Power Drill Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Analysis (Revenue, USD Million, 2020 - 2027)
• Hammer and Rotary Power Drills
• Traditional Power Drills
• Impact Power Drills
Technology Analysis (Revenue, USD Million, 2020 - 2027)
• Cordless Power Drills
• Corded Power Drills
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Power Drill Market Companies
• Hilti Corporation
• Makita Corporation
• Stanley Black & Decker, Inc.
• Robert Bosch GmbH
• Panasonic Corporation
• DeWalt
• Techtronic Industries Company Limited
• SKIL Power Tools
• Konica Minolta, Inc.
• Hitachi, Ltd.
• Jiangsu Dongcheng Power Tools Co., Ltd.
Available Versions: -
United States Power Drill Market Research Report
Europe Power Drill Market Research Report
Asia Pacific Power Drill Market Research Report
India Power Drill Market Research Report
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