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Asia Pacific Power Tools Market Forecast 2027 By Application (Construction, Automotive, Aerospace, Energy, Electronics, DIY), By Mode (Electric Corded, Electric Cordless, Pneumatic), By Tool Type (Drilling & Fastening, Sawing & Cutting Tools, Demolition, Material Removal, Wrenches), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: December 2021 | Publisher: Graphical Research Report ID: GR2029 | Delivery : PDF  Request Free Sample

Asia Pacific Power Tools Market size crossed USD 21,590 million in 2020 and is predicted to witness 6.7% CAGR from 2021 to 2027.

The rising manufacturing and automotive industries in countries including Japan, China, and India will drive the market growth. Growing construction and infrastructural development activities in the region are key factors influencing the demand for power tools. Considerable growth in end-use industries including automotive, construction, and aerospace is anticipated to fuel the market demand.

Asia Pacific Power Tools Market

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The COVID-19 pandemic has affected several industries such as automotive, construction, aerospace, electronics, etc., in Asia Pacific. The COVID-19 impact on the Asian construction, manufacturing, and automotive industries was significant in year 2020. Starting from the production perspective, many manufacturers and suppliers experienced a lack of supply of products as many countries or cities in Asia Pacific implemented very stringent trade restrictions and lockdowns.

Asia Pacific Market, By Mode

The electric cordless power tools segment is expected to grow at a CAGR of 7% through 2027. Cordless tools are designed to offer a better speed of production compared to hand tools. The development in power tool technology, such as the invention of electric power tools and cordless tools, is expected to offer enhanced performance over pneumatic tools. Due to these factors, the consumption of power tools is anticipated to grow during the forecast period. Cordless electric power tools have transformed the automotive, construction, and other industries by saving efforts and time required for simple operations including screwing and drilling to complicated operations including sawing and breaking.

Asia Pacific Market, By Tool Type

Wrenches will account for over 10% Asia Pacific power tools market share by 2027. Wrenches are majorly used in manufacturing plants to improve work efficiency and automation of manufacturing activities. Growth in automotive production in Asia Pacific is further poised to enhance the regional wrenches segment growth.

Asia Pacific Market, By Application

Asia Pacific Power Tools Market By Application

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The construction application segment is estimated to generate over USD 13 billion revenue by 2027. Increasing construction and renovation activities across Asia Pacific will boost the demand for power tools in the regional construction sector. Furthermore, technological innovations and advancements in technologies in the automotive & aerospace sectors are key factors for the enhanced demand for power tools in these applications.

Competitive Industry Landscape

Prominent power tools manufacturers in Asia Pacific include Techtronic Industries, Robert Bosch GmbH, Hilti Corporation, Makita Corporation, Stanley Black & Decker, Apex Tool Group, Hitachi Koki Ltd., Emerson Electric Co., Atlas Copco, and Enerpac Tool Group, among several others.

Frequently Asked Question(FAQ) :

The market value for power tools in Asia Pacific was exceeded USD 21,590 million in 2020 and is anticipated to record a CAGR of 6.7% between 2021 and 2027 driven by the growing automotive and manufacturing sectors in India, China, Japan, and other countries.
The market size for electric cordless power tools in Asia Pacific is set to exhibit a CAGR of 7% up to 2027 owing to the advantage of better production speed in comparison to hand tools.
The market share from construction application will cross USD 13 billion through 2027 considering the increasing construction and renovation activities in the region.
Leading companies in the Asia Pacific market comprise Stanley Black & Decker, Robert Bosch GmbH, Techtronic Industries, Apex Tool Group, Atlas Copco, Hitachi Koki Ltd., Makita Corporation, Emerson Electric Co., Enerpac Tool Group, and others.

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