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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, 2021-2028
ID:VMR11214000
April 2021
Report Formats: Electronic (PDF), MS EXCEL
Global Power Tool Accessory Market Overview
The key driver impacting the global power tool accessory market is the rapidly growing application of power tools across many industries such as aerospace, automotive, electronics, energy, construction, shipbuilding, and others. For instance, As per the Oxford economics, Global Construction 2030 report, it is estimated that the total volume of construction output will increase by 85% to $15.5 trillion globally by 2030. The growth is majorly driven by three countries China, the US, and India and these three countries are responsible for 57% of all global growth. Moreover, the easy availability and portability of electric power tools encourage their implementation even in normal daily applications, including sawing, drilling, and cutting, which is a significant factor influencing the demand for power tool accessory.
The rise in popularity of DIY techniques and an increase in disposable income of people are likely to enhance market demand in the forecast period. For instance, According to the World Bank report net, national income per capita was 8967.271 USD in 2014; it is increased to 8865.384 USD,9290.346 USD respectively in 2017 and 2018. Also, the growing shift towards automation, smart precision manufacturing is positively impacting market growth. However, the high cost of electric power tools and maintenance cost of power tools may hamper the global power tool accessory industry in the long run. Also, fluctuating raw material prices is negatively impacting the market. The current industry trends, such as the rising cost of manual labor and continuous advancements in technology, are expected to provide beneficial market opportunities for the key market players in the coming years.
The power tool accessory market is vast, with a large number of local and global players. The key leaders follow many strategies to boost their market position, such as extending product portfolio, acquisitions, expansions, mergers, and product innovations to make stronger their market share at the global scale. The report studies a few key players of the global power tool accessory market in detail, covering the company profile, product list, and financial details. The companies included in the report are 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.
In this research report, the market is segmented by accessory type, end-user, and region.
Analysis By Accessory Type
The global power tool accessory market is segmented into drill bits, screwdriver bits, router bits, circular saw blades, jigsaw blades, bandsaw blades, abrasive wheels, reciprocating saw blades, batteries, and others. The drill bits segment acquired a maximum share of 15% in 2020. Rising drilling activities and penetration in DIY activities are certain factors that contribute to the growth of the drill bits segment in the coming years.
Analysis By End User
By end-users, the global power tool accessory market is bifurcated into industrial, commercial, and residential. The industrial segment dominates the end user segment with over 40% market share in 2020. It is due to its growing usage of power tool accessories across industries such as automotive, aerospace, electronics, energy, construction, shipbuilding, and others. Of these, the construction segment contributes majorly to the global market owing to the concentration of infrastructural activities worldwide. The commercial end-user segment represents the second-largest position in the market by end-use, on account of the rise in hotel and shopping mall construction.
Analysis By Region
In the regional outlook of the global power tool accessory market, North America is dominant segment which accounts for 30% share in 2020. The growing volume of renovation retrofit activities in the commercial sector and the highly predominant DIY culture is driving the regional growth. Asia Pacific segment is forecasted to grow at the most promising pace during the forecast period. The Asia Pacific is a global manufacturing hub with rapidly growing large-scale industries such as automobiles, construction, electronics, and aerospace.
By Accessory Type
By End-User
By Region
The key driver impacting the global power tool accessory market is the rapidly growing application of power tools across many industries such as aerospace, automotive, electronics, energy, construction, shipbuilding, and others. For instance, As per the Oxford economics, Global Construction 2030 report, it is estimated that the total volume of construction output will increase by 85% to $15.5 trillion globally by 2030. The growth is majorly driven by three countries China, the US, and India and these three countries are responsible for 57% of all global growth. Moreover, the easy availability and portability of electric power tools encourage their implementation even in normal daily applications, including sawing, drilling, and cutting, which is a significant factor influencing the demand for power tool accessory.
According to Value Market Research, the global power tool accessory market was valued at around USD 9250 million in 2019 and is estimated to grow at a CAGR of about 6.95% during the forecast period of 2020-2026.
The rise in popularity of DIY techniques and an increase in disposable income of people are likely to enhance market demand in the forecast period. For instance, According to the World Bank report net, national income per capita was 8967.271 USD in 2014; it is increased to 8865.384 USD,9290.346 USD respectively in 2017 and 2018. Also, the growing shift towards automation, smart precision manufacturing is positively impacting market growth. However, the high cost of electric power tools and maintenance cost of power tools may hamper the global power tool accessory industry in the long run. Also, fluctuating raw material prices is negatively impacting the market. The current industry trends, such as the rising cost of manual labor and continuous advancements in technology, are expected to provide beneficial market opportunities for the key market players in the coming years.
The power tool accessory market is vast, with a large number of local and global players. The key leaders follow many strategies to boost their market position, such as extending product portfolio, acquisitions, expansions, mergers, and product innovations to make stronger their market share at the global scale. The report studies a few key players of the global power tool accessory market in detail, covering the company profile, product list, and financial details. The companies included in the report are 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.
In this research report, the market is segmented by accessory type, end-user, and region.
Analysis By Accessory Type
The global power tool accessory market is segmented into drill bits, screwdriver bits, router bits, circular saw blades, jigsaw blades, bandsaw blades, abrasive wheels, reciprocating saw blades, batteries, and others. The drill bits segment acquired a maximum share of 15% in 2020. Rising drilling activities and penetration in DIY activities are certain factors that contribute to the growth of the drill bits segment in the coming years.
Analysis By End User
By end-users, the global power tool accessory market is bifurcated into industrial, commercial, and residential. The industrial segment dominates the end user segment with over 40% market share in 2020. It is due to its growing usage of power tool accessories across industries such as automotive, aerospace, electronics, energy, construction, shipbuilding, and others. Of these, the construction segment contributes majorly to the global market owing to the concentration of infrastructural activities worldwide. The commercial end-user segment represents the second-largest position in the market by end-use, on account of the rise in hotel and shopping mall construction.
Analysis By Region
In the regional outlook of the global power tool accessory market, North America is dominant segment which accounts for 30% share in 2020. The growing volume of renovation retrofit activities in the commercial sector and the highly predominant DIY culture is driving the regional growth. Asia Pacific segment is forecasted to grow at the most promising pace during the forecast period. The Asia Pacific is a global manufacturing hub with rapidly growing large-scale industries such as automobiles, construction, electronics, and aerospace.
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
By Region
- North America
- Europe
- the Asia Pacific
- Latin America
- The Middle East and Africa
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1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . POWER TOOL ACCESSORY – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 By Accessory Type
3.7.2 By End-User
3.7.3 By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
5.1. Impact Analysis of Covid-19 Outbreak
5.1.1. Direct Impact on Production
5.1.2. Supply Chain and Market Disruption
5.1.3. Financial Impact on Firms and Financial Markets
5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
5.3. Market: Pre V/S Post COVID-19
5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
5.5. COVID-19: Micro and Macro Factor Analysis
6 . GLOBAL POWER TOOL ACCESSORY MARKET ANALYSIS BY ACCESSORY TYPE
6.1 Overview by Accessory Type
6.2 Historical and Forecast Data
6.3 Analysis by Accessory Type
6.4 Drill Bits Market by Regions
6.6 Screwdriver Bits Market by Regions
6.5 Router Bits Market by Regions
6.7 Circular Saw Blades Market by Regions
6.8 Jig Saw Blades Market by Regions
6.9 Bandsaw Blades Market by Regions
6.10. Abrasive Wheels Market by Regions
6.11 Reciprocating Saw Blades Market by Regions
6.12 Batteries Market by Regions
6.13 Others Market by Regions
7 . GLOBAL POWER TOOL ACCESSORY MARKET ANALYSIS BY END-USER
7.1 Overview by End-User
7.2 Historical and Forecast Data
7.3 Analysis by End-User
7.4 Industrial (Automotive, Aerospace, Electronics, Energy, Construction, Shipbuilding, and Others) Market by Regions
7.5 Commercial Market by Regions
7.6 Residential Market by Regions
8 . GLOBAL POWER TOOL ACCESSORY MARKET ANALYSIS BY GEOGRAPHY
8.1. Regional Outlook
8.2. Introduction
8.3. North America
8.3.1. Overview, Historic and Forecast Data
8.3.2. North America By Segment
8.3.3. North America By Country
8.3.4. United State
8.3.5. Canada
8.3.6. Mexico
8.4. Europe
8.4.1. Overview, Historic and Forecast Data
8.4.2. Europe by Segment
8.4.3. Europe by Country
8.4.4. United Kingdom
8.4.5. France
8.4.6. Germany
8.4.7. Italy
8.4.8. Russia
8.4.9. Rest Of Europe
8.5. Asia Pacific
8.5.1. Overview, Historic and Forecast Data
8.5.2. Asia Pacific by Segment
8.5.3. Asia Pacific by Country
8.5.4. China
8.5.5. India
8.5.6. Japan
8.5.7. South Korea
8.5.8. Australia
8.5.9. Rest Of Asia Pacific
8.6. Latin America
8.6.1. Overview, Historic and Forecast Data
8.6.2. Latin America by Segment
8.6.3. Latin America by Country
8.6.4. Brazil
8.6.5. Argentina
8.6.6. Peru
8.6.7. Chile
8.6.8. Rest of Latin America
8.7. Middle East & Africa
8.7.1. Overview, Historic and Forecast Data
8.7.2. Middle East & Africa by Segment
8.7.3. Middle East & Africa by Country
8.7.4. Saudi Arabia
8.7.5. UAE
8.7.6. Israel
8.7.7. South Africa
8.7.8. Rest Of Middle East And Africa
9 . COMPETITIVE LANDSCAPE OF THE POWER TOOL ACCESSORY COMPANIES
9.1. Power Tool Accessory Market Competition
9.2. Partnership/Collaboration/Agreement
9.3. Merger And Acquisitions
9.4. New Product Launch
9.5. Other Developments
10 . COMPANY PROFILES OF POWER TOOL ACCESSORY INDUSTRY
10.1. Company Share Analysis
10.2. Market Concentration Rate
10.3. Atlas Copco AB
10.3.1. Company Overview
10.3.2. Financials
10.3.3. Products
10.3.4. Recent Developments
10.4. Bellwether Resources International Inc.
10.4.1. Company Overview
10.4.2. Financials
10.4.3. Products
10.4.4. Recent Developments
10.5. Caterpillar Inc.
10.5.1. Company Overview
10.5.2. Financials
10.5.3. Products
10.5.4. Recent Developments
10.6. Baker Hughes Co.
10.6.1. Company Overview
10.6.2. Financials
10.6.3. Products
10.6.4. Recent Developments
10.7. Bit Brokers International Ltd.
10.7.1. Company Overview
10.7.2. Financials
10.7.3. Products
10.7.4. Recent Developments
10.8. Drilling Products, Inc.
10.8.1. Company Overview
10.8.2. Financials
10.8.3. Products
10.8.4. Recent Developments
10.9. Drill King International LP
10.9.1. Company Overview
10.9.2. Financials
10.9.3. Products
10.9.4. Recent Developments
10.10. Halliburton Co.
10.10.1. Company Overview
10.10.2. Financials
10.10.3. Products
10.10.4. Recent Developments
10.11. National Oilwell Varco Inc.
10.11.1. Company Overview
10.11.2. Financials
10.11.3. Products
10.11.4. Recent Developments
10.12. Sandvik AB.
10.12.1. Company Overview
10.12.2. Financials
10.12.3. Products
10.12.4. Recent Developments
*Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
LIST OF TABLES
- Market Snapshot
- Drivers : Impact Analysis
- Restraints : Impact Analysis
- List of Raw Material
- List of Raw Material Manufactures
- List of Potential Buyers
- COVID-19 Impact Analysis by Production, Import, Export and Demand
- Pre V/S Post COVID-19
- Estimated Impact Of The Coronavirus (Covid-19) Epidemic
- COVID-19: Micro and Macro Factor Analysis
- Analysis by Accessory Type (USD MN)
- Drill Bits Market by Geography (USD MN)
- Screwdriver Bits Market by Geography (USD MN)
- Router Bits Market by Geography (USD MN)
- Circular Saw Blades Market by Geography (USD MN)
- Jig Saw Blades Market by Geography (USD MN)
- Bandsaw Blades Market by Geography (USD MN)
- Abrasive Wheels Market by Geography (USD MN)
- Reciprocating Saw Blades Market by Geography (USD MN)
- Batteries Market by Geography (USD MN)
- Others Market by Geography (USD MN)
- Analysis Market by End-User (USD MN)
- Industrial (Automotive, Aerospace, Electronics, Energy, Construction, Shipbuilding, and Others) Market by Geography (USD MN)
- Commercial Market by Geography (USD MN)
- Residential Market by Geography (USD MN)
- Global Power Tool Accessory Market by Geography (USD MN)
- North America Market Analysis (USD MN)
- United State Market Analysis (USD MN)
- Canada Market Analysis (USD MN)
- Mexico Market Analysis (USD MN)
- Europe Market Analysis (USD MN)
- Europe Market Estimate by Country (USD MN)
- United Kingdom Market Analysis (USD MN)
- France Market Analysis (USD MN)
- Germany Market Analysis (USD MN)
- Italy Market Analysis (USD MN)
- Russia Market Analysis (USD MN)
- Spain Market Analysis (USD MN)
- Rest of Europe Market Analysis (USD MN)
- Asia Pacific Market Analysis (USD MN)
- China Market Analysis (USD MN)
- Japan Market Analysis (USD MN)
- India Market Analysis (USD MN)
- South Korea Market Analysis (USD MN)
- Australia Market Analysis (USD MN)
- Rest of Asia Pacific Market Analysis (USD MN)
- Latin America Market Analysis (USD MN)
- Brazil Market Analysis (USD MN)
- Argentina Market Analysis (USD MN)
- Peru Market Analysis (USD MN)
- Chile Market Analysis (USD MN)
- Rest of Latin America Market Analysis (USD MN)
- Middle East & Africa Market Analysis (USD MN)
- Saudi Arabia Market Analysis (USD MN)
- UAE Market Analysis (USD MN)
- Israel Market Analysis (USD MN)
- South Africa Market Analysis (USD MN)
- Rest of Middle East and Africa Market Analysis (USD MN)
- Partnership/Collaboration/Agreement
- Mergers And Acquisiton
LIST OF FIGURES
- Research Scope of Power Tool Accessory Report
- Market Research Process
- Market Research Methodology
- Global Power Tool Accessory Market Size, by Region (USD MN)
- Porters Five Forces Analysis
- Market Attractiveness Analysis by Accessory Type
- Market Attractiveness Analysis by End-User
- Market Attractiveness Analysis by Region
- Value Chain Analysis
- Global Market Analysis by Accessory Type (USD MN)
- Drill Bits Market by Geography (USD MN)
- Screwdriver Bits Market by Geography (USD MN)
- Router Bits Market by Geography (USD MN)
- Circular Saw Blades Market by Geography (USD MN)
- Jig Saw Blades Market by Geography (USD MN)
- Bandsaw Blades Market by Geography (USD MN)
- Abrasive Wheels Market by Geography (USD MN)
- Reciprocating Saw Blades Market by Geography (USD MN)
- Batteries Market by Geography (USD MN)
- Others Market by Geography (USD MN)
- Global Market Analysis by End-User (USD MN)
- Industrial (Automotive, Aerospace, Electronics, Energy, Construction, Shipbuilding, and Others) Market by Geography (USD MN)
- Commercial Market by Geography (USD MN)
- Residential Market by Geography (USD MN)
- Global Market by Revenue
- North America Market by Revenue
- Europe Market by Revenue
- Asia Pacific Market by Revenue
- Latin America Market by Revenue
- Middle East & Africa Market by Revenue
- Recent Development in Industry
- Company Market Share Analysis
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.
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Objectives of Study
- Define and measure the global market
- Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
- Analyze and identify major market trends along with the factors driving or inhibiting the market growth
- Study the company profiles of the major market players with their market share
- Analyze competitive developments