China Power Tools Market Overview, 2028

China Power Tools Market Overview, 2028

China has the world's second-largest power tool market. China is a global manufacturing hub with a huge demand for power tools to meet the market's mass production requirements. Power tools have several advantages over hand tools, including the ability to simplify heavy workloads and increase operational efficiency, so they are widely used in both industrial and residential settings. Newer technologies are also being incorporated to improve the efficiency of power tools. For example, tool manufacturers are heavily capitalising on the transition from nickel-cadmium (NiCad) to lithium-ion (Li-ion) batteries in order to produce and commercialise products for both domestic and international markets.

According to the research report, “China Power Tools Market Overview, 2028”published by Bonafide Research, the market is anticipated to add up to 2.01 Billion market size during the upcoming timeframe. During the forecast period, drilling and fastening tools are expected to account for the largest share of the power tools market by tool type. During the forecast period, the market for electric mode of operation tools is expected to grow at the fastest CAGR. Electric tools are plug-and-play, whereas cordless tools are simple to use, efficient, and convenient. End users prefer cordless tools over traditional tools due to their ergonomic benefits. The growing demand for lightweight, portable, flexible, and compact tools, as well as the growing DIY trend among homeowners, is driving the adoption of electric power tools for residential and DIY use. Material removal tools are expected to grow at a faster CAGR during the forecast period. These are end-effectors that are used to remove unwanted material from workpieces in order to achieve the desired shape. Sanders, polishers, buffers, air scalers, and grinders are examples of material removal tools used in industrial and residential applications. These tools are ergonomically designed for the users' comfort and safety. These tools are powered by either electricity or pneumatics. Cordless electric material removal tools are widely used in a variety of industrial applications, driving segment growth.

In China, some of the notable projects where power tools are widely used include Beijing Daxing International Airport (It is one of the largest airport construction projects in the world in Beijing, China. The construction of this massive airport complex involves the use of various power tools, such as cordless drill drivers, impact drivers, and power saws), Shanghai Tower (This is a 632-meter-tall skyscraper located in Shanghai, China. The construction of this massive tower involved the use of a wide range of power tools, including cordless drill drivers, impact drivers, and power saws, to construct the building's complex steel structure), China National Convention Center (This is a large convention center located in Beijing, China. The construction of this massive facility involved the use of various power tools, such as cordless drill drivers, impact drivers, and power saws, to construct the building's steel frame and concrete structure), Chengdu-Mianyang-Leshan High-Speed Railway (This is a high-speed railway project located in Sichuan Province, China. The construction of this railway line involves the use of various power tools, such as cordless drill drivers, impact drivers, and power saws, to construct tunnels, bridges, and other infrastructure.) and Hong Kong-Zhuhai-Macao Bridge (This is a massive bridge project that connects Hong Kong, Zhuhai, and Macao. The construction of this bridge involved the use of various power tools, such as cordless drill drivers, impact drivers, and power saws, to construct the bridge's massive steel structure).

In recent years, the number of power tool startups in China has increased as demand for affordable and innovative power tools has grown. Some of China's most notable power tool start-ups are as follows: Tacklife (Tacklife is a rapidly expanding Chinese power tool brand that offers a wide range of affordable power tools, hand tools, and accessories. DOACE (DOACE is a smart home technology company that offers a range of smart power tools, including cordless drill drivers, impact drivers, and power screwdrivers. The brand has quickly gained popularity due to its focus on quality and affordability. The brand's products include cutting-edge technology like Bluetooth connectivity and real-time performance monitoring).Shenzhen Eonne (Shenzhen Eonne is a power tool manufacturer with a diverse product line that includes cordless drill drivers, impact drivers, and circular saws. TECCPO (TECCPO is a Chinese power tool brand that offers a wide range of products, including cordless drill drivers, impact drivers, and power screwdrivers. The brand has quickly gained popularity for its high-quality products and affordable pricing. The brand's products incorporate cutting-edge technology such as brushless motors and real-time performance monitoring) and Hilti (Hilti is a well-known power tool brand with a strong presence in China. The company sells a variety of professional-grade power tools, such as cordless drill drivers, impact drivers, and power screwdrivers.

The first power tool was produced in China in 1942, and the power tool manufacturing industry began to take shape in the 1960s, but electric drills accounted for more than 70% of all power tools. Since the 1990s, the domestic power tool industry has developed a number of large-scale enterprises and made significant technological advances, which have resulted in continuously improved product quality and performance. With the continuous improvement of the Chinese manufacturing industry's global competitiveness, China has emerged as the most important player in the international power tool market. Devon, Worx, Kynko, KEN, Crown, and many more are among China's top professional power tool brands.

The Chinese power tool and hand tool market experienced a drop in sales in Q1 2020 as a result of the COVID-19 pandemic. However, the market gradually recovered throughout the remainder of the year. The resumption of construction activities, the expansion of the rail network, and the Chinese government's announcement of a fiscal package to develop public infrastructure were among the factors that mitigated the impact of the pandemic. Furthermore, increased purchases of power and hand tools through e-commerce platforms have helped the market recover to some extent from the impact of the pandemic.

Considered in this report
• Geography: China
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• China Power Tools market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Tools Type:
• Drilling and Fastening Tools
• Demolition Tools
• Sawing and Cutting Tools
• Material Removal Tools
• Routing Tools
• Others

By Mode of Operation:
• Electric
• Pneumatic
• Others (Hydraulic)

By Application Type:
• Industrial
• Residential

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Power Tools industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.