New York, April 19, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Power Tools Market Outlook to 2025 Impact of COVID-19" - https://www.reportlinker.com/p06020259/?utm_source=GNW
The Asia Pacific power tools market is expected to achieve substantial growth between 2020 and 2026. India and China are the main contributors to the revenue of the power tool market in the Asia-Pacific region. The increasing popularity of wireless tools, that provides convenient mobility and no external power source, is driving the market growth.
Cordless power tools include various battery-powered tools, such as hammer drills, impact wrenches, and circular saws, as well as staplers.
The demand for more mobile, flexible, and compact tools is driving the market for cordless tools. Lithium-ion batteries are replacing traditional nickel-cadmium (Ni-Cd) and nickel-metal hydride (Ni-MH) power tools.
The power tools industry has large number of products in its range making it a contractor driven market due to the fact that it is difficult for the manufacturer to provide after sales services and maintenance service stations for each product thus selling through contractors increases their reach and so as on service level company’s liability reduces.
Asia Pacific power tools market has grown from USD ~ million to USD ~ million in 2019 driven by rise in construction activities in the developing nations such as India, Philippines, Indonesia and also strong demand from China. China holds majority share in the power tools market and in recent past there have been several projects initiated thereby created demand for power tools.
Owing to the high shelf life of hydraulic tools, the growth room is very limited for such tools. India as a developing country with limited capital resources has low adoption of these tools owing to the high cost.
The report discuss power tools performance in APAC market with a focus on China, Japan and India and assess the future outlook of the industry. It assess market by segmentation including Electric Power Tools, Pneumatic Power Tools and Hydraulic Power Tools. Assessment of COVID-19 impact is an important segment of the report that helps to understand demand of power tools in near future. Report also study macro economy environment of major economies of the region and recent trends and developments happening in the industry.
Read the full report: https://www.reportlinker.com/p06020259/?utm_source=GNW
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Asia Pacific Power Tools Market Outlook to 2025 Impact of COVID-19
Asia Pacific (APAC) share of global gross domestic product (GDP) in current USD increased from 26. 3% in 2000 to 34. 9% in 2019. Among all regions across the globe Asia Pacific ranking in terms of its share of global output improved from 3rd in 2000 to 1st in 2019.
| Source: ReportLinker