NEW YORK, Oct. 3, 2022 /PRNewswire/ -- The power tools accessories market in UK is forecasted to grow by USD 29.76 million, accelerating at a CAGR of 3.82% between 2020 and 2025. Technavio segments the market by end-user (professional and consumer) and type (drill bits, screwdriver bits, router bits, and others). The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
Key points covered in the power tools accessories market study:
- Market estimates and forecast 2021-2025
- Key drivers, trends, and challenges impacting market growth
- Segment-wise, region-wise, and country-wide analysis
- Analysis of market share by vendors
- Key product launches and regulatory climate
- Post-COVID-19 impact on the market landscape. Download PDF Report Sample
Technavio categorizes the power tools accessories market in UK as a part of the global electrical components and equipment market within the global electrical equipment market. The parent market, the global electrical components, and the equipment market cover the companies engaged in the manufacturing of electrical cables and wires, electrical components, and electrical equipment. The parent market is driven by the growing adoption of automation in the manufacturing process and the increasing number of smart grid projects.
The market is primarily driven by the growing demand for power tools for DIY projects. The rising penetration of social media has encouraged many people to involve in DIY projects to demonstrate their creative skills. In addition, the growing number of home improvement stores and the increasing availability of power tools and accessories have further fueled consumer interest in DIY projects. This growing interest in consumers is encouraging vendors in the market to introduce a wide range of power tools and power tool accessories, which is driving the growth of the market.
The full report provides information on other drivers, trends, and challenges that are impacting the grow of the market. Request a Sample PDF Report
Professional segment to generate maximum revenue in power tools accessories market and is leading end-user segment in the power tools accessories market in UK. The increasing demand for power tools from the automotive and construction industries is driving the growth of the professional end-user segment.
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The power tools accessories market in UK is fragmented. Top vendors hold a significant share of the market. The rest of the market share is held by other China-based and private-label brands. Private-label brands also offer highly customized and technologically advanced power tools at lower prices than those offered by international vendors. The competition in this market is expected to intensify further in the future, with increased product extensions and technological innovations. In addition, the growing sales and distribution networks of several hardware and home improvement retailers and mass merchandisers are encouraging retailers to develop their private-label brands in the power tools accessories category. This is expected to further intensify the competition level in the market during the forecast period.
Some of the key players in the power tools accessories market in UK include:
- Caterpillar Inc.
- Festool GmbH
- Hilti Corp.
- Koki Holdings Co. Ltd.
- KYOCERA Corp.
- Makita USA Inc.
- MilwaUKee Electric Tool Corp.
- Robert Bosch GmbH
- Snap-on Inc.
- Stanley Black and Decker Inc.
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Power Tools Accessories Market In UK Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 3.82% |
Market growth 2021-2025 | USD 29.76 million |
Market structure | Fragmented |
YoY growth (%) | 2.27 |
Regional analysis | UK |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Caterpillar Inc., Festool GmbH, Hilti Corp., Koki Holdings Co. Ltd., KYOCERA Corp., Makita USA Inc., Milwaukee Electric Tool Corp., Robert Bosch GmbH, Snap-on Inc., and Stanley Black and Decker Inc. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Professional - Market size and forecast 2020-2025
- Consumer - Market size and forecast 2020-2025
- Market opportunity by End-user
Market Segmentation by Type
- Market segments
- Comparison by Type
- Drill bits - Market size and forecast 2020-2025
- Screwdriver bits - Market size and forecast 2020-2025
- Router bits - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- Market opportunity by Type
Customer landscape
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Caterpillar Inc.
- Festool GmbH
- Hilti Corp.
- Koki Holdings Co. Ltd.
- KYOCERA Corp.
- Makita USA Inc.
- Milwaukee Electric Tool Corp.
- Robert Bosch GmbH
- Snap-on Inc.
- Stanley Black and Decker Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Email: media@technavio.com
Website: www.technavio.com/
SOURCE Technavio
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