Power Tool Accessory Market Worth to cross USD 15833.9 MN By 2027
Posted On February 26, 2021
The Global Power Tool Accessory Market value is expected to grow by an impressive 6.95% of CAGR during the forecast period of 2020 to 2027.The market can grow to USD 15833.9 MN by 2027 as per the report by Value Market Research. Power tool accessory includes products like impact-rated bits, driver bits, bit holders, hole saws, spade bits, attached to power tools. The growing demand for the best quality power tool accessories designed for extreme-duty needs across various sectors is the primary driving factor for this market's growth. This market will continue to witness an upward surge since choosing the right power tool accessory will help the tools to last longer, cut or drive faster, and increase productivity with reduced labor costs. The extensive use of power tools in the EV market due to advanced technologies equipped in these vehicles will boost the market growth. The rising use of power tools, even for typical applications daily due to their portability and easy availability, will be a market booster. The high costs of power tools and accessories can hamper the market growth.
Power tool accessory is an adjunct attached to power tools used in a wide variety of applications. Power tools are used in several sectors like industry, construction, gardening, automobile, energy, aerospace, etc. The demand for power household tasks for drilling, cutting, shaping, sanding, grinding, routing, polishing, painting, heating, and more. The accessories include drill and screwdriver bits, sanding sheets, saw blades, batteries, and router cutter. These accessories are durable and of high-quality to withstand extreme working conditions. When working with any power tool accessory, following the safety guidelines is mandatory. They are made of different materials like carbide, titanium, cobalt, and high-speed steel.
The detailed research study "Global Power Tool Accessory Market Report By Accessory Type (Drill Bits, Screwdriver Bits, Router Bits, Circular Saw Blades, Jig Saw Blades, Bandsaw Blades, Abrasive Wheels, Reciprocating Saw Blades, Batteries, Others), By End-User (Industrial (Automotive, Aerospace, Electronics, Energy, Construction, Shipbuilding, And Others), Commercial, Residential) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" assists in understanding the market dynamics with qualitative as well as quantitative data.
On the basis of accessory type the market is segmented into Drill Bits, Screwdriver Bits, Router Bits, Circular Saw Blades, Jig Saw Blades, Bandsaw Blades, Abrasive Wheels, Reciprocating Saw Blades, Batteries, Others. By end-user the power tool accessory market is categorised as Industrial (Automotive, Aerospace, Electronics, Energy, Construction, Shipbuilding, and Others), Commercial, Residential. The regions covered in the market study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. This section throws light on the geographical spread of revenue and/or volume of the power tool accessory market.
The Report Segments Global Power Tool Accessory Market -
By Accessory Type
- Drill Bits
- Screwdriver Bits
- Router Bits
- Circular Saw Blades
- Jig Saw Blades
- Bandsaw Blades
- Abrasive Wheels
- Reciprocating Saw Blades
- Industrial (Automotive, Aerospace, Electronics, Energy, Construction, Shipbuilding, and Others)
- North America
- the Asia Pacific
- Latin America
- The Middle East and Africa
Players Profiled In the Report:
Atlas Copco AB, Bellwether Resources International Inc., Caterpillar Inc., Baker Hughes Co., Bit Brokers International Ltd., Drilling Products, Inc., Drill King International LP, Halliburton Co., National Oilwell Varco Inc., and Sandvik AB.
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