Europe Power Tools Market Outlook, 2028

Europe Power Tools Market Outlook, 2028

The Europe power tool market is expected to grow in the coming years due to the region's rising potential growth in the aerospace industry. Furthermore, the France power tools market is expected to contribute to revenue growth in the industrial landscape of the Europe power tools market, supported by an increase in the aerospace and aircraft industry. The increase in the globalized era in the business landscapes has immensely benefited the French industrial landscape and is leading to an increase in the export activities which is leading to an increase in the manufacture of aircraft systems and leading to a rise in the growth of the demand for power tools which has proven itself evident for the quick manufacture process and with ease and is also building the modern industrial landscape in the aircraft industry which is no doubt, expected to benefit the overall market growth of the France power tools market in the coming time zone and is expected to benefit the growth of the overall Europe power tool market soon.

According to the research report, Europe Power Tools Market Outlook, 2028, published by Bonafide Research, the market is expected to grow at a rate of 5.57% CAGR by 2028. Europe is experiencing greater technological advancement in terms of industry 4.0, with companies introducing new technologies that can track products, provide detailed information, and aid in inventory management, all of which are driving the growth of power tools in the European market. Furthermore, Europe is expected to grow steadily in the future, led by Germany and the United Kingdom. The presence of manufacturing and production plants in many European Union countries is driving market growth. Strict manufacturing standards for cordless power tools, as well as falling electric power tool prices, drive the power tool market forward. For instance, in December 2016, the European Union (EU) planned to prohibit the use of cadmium, a toxic substance, in cordless power tools due to the leakage of cadmium from nickel-cadmium batteries.

According to the report, the market is divided into several countries, including Germany, the United Kingdom, France, Italy, Spain, and Russia. Germany leads the pack with a market share of more than 27% in 2022. Among many other brands, Bosch, Ronix, Festool, Einhell, and Fein are rated as the top five German power tool manufacturers in Europe. UL Solutions, a global authority in applied safety science, has also unveiled a brand-new power tool laboratory. The power tool laboratory supports UL Solutions' offices and laboratories in Germany by providing clients throughout Europe with testing, certification, and inspection services for a wide range of power tool products. Furthermore, technological advancements, high-capacity batteries, remote accessibility, and increased operational efficiency will drive growth in the European power tool market. Power tools are used to reduce errors and ensure quality in a variety of production lines and precision work environments. For example, fastening nuts and bolts for various components on an assembly line in a factory requires high accuracy and a predetermined level of tightening, which power tools can precisely achieve.
According to the report, the market is divided into tool types such as drilling and fastening tools, demolition tools, sawing and cutting tools, material removal tools, routing tools, and others. Sawing and cutting tools will lead the market in 2022, followed by drilling and fastening tools. Power tools are also used by service providers such as plumbers, fitters, welders, maintenance service providers, fabricators, electricians, and repair service providers. Their portability and long battery life make their operations easier, saving time. Power tools are in high demand in the construction and automation industries as a result of these factors. The region's pre-existing automobile manufacturing industries in Germany, Italy, and the United Kingdom are driving up demand for cordless power tools.

Due to economic development, rising disposable income, and changing lifestyles, the region's renovation and transformation operations have increased alongside new construction. Various construction operations, such as screwing, drilling, metal cutting, and fabrication, necessitate the use of power tools, which reduce the time and effort required for simple operations. Tool power, on the other hand, ensures service quality in installation works that require high precision in operations, such as fitting heat ventilation and air conditioning systems, electric appliances, home and interior décor, and furniture work.DePuy, for example, introduces next-generation power tools for trauma and small bone procedures. Stellantis intends to invest more than £25 billion in vehicle connectivity and electrification in order to generate new revenue streams from software-enabled products and subscriptions. Based on these factors, the industrial segment is expected to lead the market in 2022, which includes construction, automotive and aerospace, energy, shipbuilding, and others.
 
Power tools are made from metals such as steel, zinc, copper, brass, aluminium, and nickel. Batteries, motors, and other electronic components are also included in power tools. Power equipment manufacturers rely heavily on raw material sourcing. Rapidly changing raw materials, multiple sources, or finished product costs in the European market may cause manufacturing disruptions, delays, inefficiencies, or the inability to market products. Power tool raw materials are obtained internationally and are frequently available at reasonable prices from a variety of vendors. The European power tool industry is expected to grow rapidly due to an increase in the attractiveness of DIY technologies, advancements in infrastructure development, and an increase in people's discretionary income. Furthermore, the ease of use of power tools has allowed them to grow in popularity among non-professional consumers, primarily in home applications. For example, the ease of access and adaptability of electricity generation tools encourages their use in common applications such as drilling, sawing, and cutting, which promotes the future growth of Europe's power equipment. However, some of the impediments include high maintenance costs and fluctuating raw material prices.

Based on mode of operation, the electric segment's market share growth in Europe will be significant during the forecast period. Electric power tools are classified as corded or cordless. Because cutting and nailing applications require powerful motors, corded tools remain the power tools of choice in the manufacturing industries. In industries, consistent and uninterrupted power is readily available. Furthermore, because cordless tools require sophisticated motors and batteries, there is a significant price difference between them. As a result, corded tools are widely used in applications where freedom of movement is not required. Germany, the United Kingdom, France, and other major countries in the region are major development hubs for the automotive, aerospace, and defence industries, which drives demand for electric power tools in these countries. Furthermore, major players such as Robert Bosch GmbH, Hilti Corporation, AEG Powertools (now a part of Techtronic Industries Co., Ltd.), and Panasonic Electric Works Europe AG have their headquarters in Europe, giving them a strong foothold in the region. Such factors have a positive impact on the growth of the European electric power tool market.

Recent Developments:
• Emerson Electric Co. (Nov. 21) TenneT has chosen Emerson to provide software and services to optimise and secure the high-voltage transmission network that supplies power to nearly 42 million people in the Netherlands and Germany.
• Eastman & Stanley Black & Decker (October 21) -Stanley Black & Decker and Eastman have joined forces to promote sustainability in the power tool industry. As part of the collaboration, Stanley Black & Decker introduced reviva, the brand's first sustainability-led power tools made with Eastman's Tritan Renew copolyester.
• Robert Bosch Power Tools GmbH & Gardena GmbH (July 20): Robert Bosch Power Tools GmbH has partnered with Gardena GmbH to allow users to use the same 18-volt battery to operate Bosch power tools, garden tools, and household appliances, as well as products bearing the Gardena and other brand names.
• Hilti and Battrion (June 20): Hilti and Battrion collaborated to develop a new battery cell based on Battrion's patented Aligned Graphite technology. The battery cells outperform conventional battery solutions in power tool applications by up to 20%.
• Stanley Black & Decker, Ford, and 3M (April 20): Stanley Black & Decker, Ford, and 3M collaborated to provide a DEWALT portable battery solution for their new Powered Air-Purifying Respirators (PAPR). PAPR would be used to protect healthcare professionals on the front lines as they treat COVID-19 pandemic patients.
• Gardner Denver and Ingersoll Rand (20 March): Gardner Denver merged with Ingersoll Rand Industrial to form Ingersoll Rand Inc. in order to offer a more robust and diverse portfolio of mission-critical industrial, energy, medical, and specialty vehicle products and services.
• Koki Holdings & Sukedachi (April 19): Koki Holdings Co., Ltd. collaborated strategically with Sukedachi, Inc. to create a platform to support everyone in the construction industry.
Makita UK (Dec. 21): Makita UK has introduced a new cordless angle drill and a cordless earth auger as part of its XGT 40V Max range. Both are suitable for heavy-duty applications and have two-speed gears.
• Makita UK (Jan. 20): Makita has added several new cordless models to its product lineup for a variety of applications. The new 82mm DKP181 18V Brushless LXT Planer was the most notable. The planer is powered by a single 18V lithium-ion battery and has a brushless motor with a maximum speed of 12,000 rpm.
• Apex Tool Group (Nov. 19, 2018): Apex Tool Group launched the APEX Industrial Fastening brand as Crescent APEX under the Crescent umbrella. Crescent APEX is a new brand that offers innovative power tool accessories for industrial and construction tradespeople, such as their professional line of u-GUARD non-marring covered tools.
• Panasonic (Aug. 19): Panasonic has expanded its High Torque 2-Way Series tool portfolio by introducing new High Torque 2-Way Series tools. These tools transmit real-time fastening data to the qualifier, with adjustable torque stage, flush detection point, and cross-thread/remit detection settings.
• Bosch Power Tools (Jun-19): Bosch Power Tools introduced a line of cordless power tools powered by lithium-ion batteries, such as a wireless screwdriver. When compared to existing screwdrivers, these power tools will increase worker convenience fourfold.

Major Companies present in the market:
Robert Bosch Gmbh, Stanley Black & Decker, Inc, Hilti Corporation, Atlas Copco Ab, Makita Corporation, Emerson Electric Co, Koki Holdings Co, Ltd, Ingersoll Rand, Techtronic Industries Co Ltd, Enerpac Tool Group, Apex Tool Group, Llc, Snap-On Incorporated, Ferm, Festool Gmbh, Panasonic Corporation, Honeywell International Inc., Kyocera Corporation, Husqvarna Ab, Chevron Group, 3M

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

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

Countries covered in the report:
• Germany
• United Kingdom
• France
• Spain
• Italy
• Russia

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.