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PUBLISHER: Grand View Research | PRODUCT CODE: 1405812
PUBLISHER: Grand View Research | PRODUCT CODE: 1405812
Asia Pacific Power Tools & Hand Tools Market Size, Share & Trends Analysis Report By Product (Power Tools, Hand Tools), By Application (Industrial, Residential), By Mode Of Operation, By Country And Segment Forecasts, 2024 - 2030
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Asia Pacific Power Tools & Hand Tools Market Growth & Trends:
The Asia Pacific power tools & hand tools market size is expected to reach USD 31.47 billion by 2030, registering a CAGR of 6.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to the flourishing construction industry across the region owing to surging construction activities in China, India, Indonesia, and Vietnam. This, in turn, drives the development of residential and commercial establishments in Asia Pacific, thereby surging the demand for power & hand tools in the region.
The changing behavior of consumers toward the purchase of high-technology machines and their growing preference for DIY projects are fueling the growth of the power & hand tools market in Asia Pacific. Furthermore, increasing preference of consumers for DIY kits in the region is particularly prompting vendors to introduce easy-to-use and affordable power tools equipped with long-lasting batteries for household applications. Home improvement activities typically require hand & power tools, such as drills, circular saws, wrenches, hammer drills, screwdrivers, and grinders. These products are available in a diverse range and can be used in roofing, bathroom and kitchen remodeling, and landscaping applications.
Power tools based on lithium-ion batteries are gaining significant traction. They are expected to replace tools operating on conventional nickel-cadmium batteries, nickel-metal hydride batteries, etc. Vendors are mainly focusing on innovations in lithium-ion batteries to reduce their weight and enhance their lifespan. They are also making efforts to ensure that their batteries are sustained in harsh environments without having any impact on their performance.
The popularity of cordless power tools is growing noticeably among consumers across Asia Pacific. This is evident from the surging adoption of battery-operated, cordless power tools, such as crimpers, hammer drills, impact drivers, impact wrenches, and circular saws for use in construction, repair, and maintenance applications. These products are also used for sanding, metalworking, and welding purposes. Since battery-operated power tools are easily available in several countries across the region, manufacturers are making efforts to innovate their products to sustain their position in the market.
Various raw materials, including ferrous and non-ferrous metals, such as aluminum, brass, copper, nickel, steel, and zinc, are used for manufacturing power & hand tools. These raw materials are sourced from different countries and supply of these materials is largely affected by the fluctuations in commodity markets. Such fluctuations tend to have adverse effects on the supply chain of power & hand tools, thereby posing a challenge to the key players operating in power & hand tools market in Asia Pacific.
Manufacturers sell their products either through direct channels or distribution networks. They also rely on retailers, supermarkets or hypermarkets, independent dealers, reconditioned distributors, and e-commerce websites for selling their products. Distributors of these products play a decisive role in expanding the reach of products and broadening the customer base of manufacturers of these tools. Hence, manufacturers prefer either an integrated channel or opt for online retail.
Asia Pacific Power Tools & Hand Tools Market Report Highlights:
- Based on product, power tools segment dominated the market with a revenue share of 61.3% in 2023. Drills, saws, and wrenches are most commonly used in the construction industry, as well as in metalworking, woodworking, and automotive repairing applications. They have become an essential companion for professionals and DIY enthusiasts alike
- Based on mode of operation, electric segment is projected to grow at the fastest CAGR of 6.7% from 2024 to 2030. This is because power tools equipped with electric motors are convenient and easy to use in various applications. Moreover, electric power tools are available as drills, saws, grinders, sanders, and routers
- Based on application, the industrial segment dominated the market with a revenue share of 59.5% in 2023. This segment comprises tools used in the automotive, construction, aerospace, and logistics industries. Increased technological innovations and surged adoption of advanced technologies in different sectors have led to higher growth of industrial applications in the market compared to residential applications
- China dominated the market with a revenue share of 45.7% in 2023. Growth of the market in China can be attributed to the ongoing construction projects. Moreover, low production costs and the easy availability of inexpensive labor are driving multinational companies to set up their production facilities in the country. This is expected to drive the growth of power & hand tools market in the coming years
- The market is highly competitive with the presence of international players, such as Stanley Black & Decker, Inc., Robert Bosch Tool Corporation, Hilti Corporation, Techtronic Industries Co. Ltd., and Makita Corporation. Product enhancement/innovation remains a key factor for vendors to stay competitive in the market
Product Code: GVR-4-68040-162-8
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Market Formulation & Data Visualization
- 1.3.3. Market Formulation & Data Visualization
- 1.4. Research Scope and Assumptions
- 1.4.1. List to Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Segmental Outlook
- 2.4. Competitive Insights
Chapter 3. Asia Pacific Power Tools & Hand Tools Market: Variables, Trends and Scope
- 3.1. Market Ancillary Outlook
- 3.1.1. Global Power Tools Market
- 3.2. Industry Value Chain Analysis
- 3.2.1. Sales Channel Analysis
- 3.3. Regulatory Framework
- 3.3.1. Analyst Perspective
- 3.4. Technology Overview
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.1.1. Flourishing Construction Industry in Asia Pacific
- 3.5.1.2. Changing Consumer Behavior and their Growing Preference For Do-It-Yourself (DIY) Projects
- 3.5.2. Market Restraints Analysis
- 3.5.2.1. Rising Prices of Power Tools and their High Maintenance Costs
- 3.5.2.2. Fluctuating Prices of Raw Materials
- 3.5.3. Industry Opportunity
- 3.5.4. Industry Challenges
- 3.5.1. Market Driver Analysis
- 3.6. Industry Analysis: Porter's
- 3.7. Pestel Analysis, By Swot
- 3.8. Market Disruption Analysis
Chapter 4. Asia Pacific Power Tools & Hand Tools Market: Product Estimates & Trend Analysis
- 4.1. Key Takeaways
- 4.2. Product Movement Analysis & Market Share, 2023 & 2030
- 4.3. Asia Pacific Power Tools & Hand Tools Market Estimates & Forecast, by Product, 2018 - 2030 (USD Billion)
- 4.4. Power Tools
- 4.4.1. Asia Pacific Power Tools Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.4.2. Drills
- 4.4.2.1. Asia Pacific Drills Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.4.3. Saws
- 4.4.3.1. Asia Pacific Saws Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.4.4. Wrenches
- 4.4.4.1. Asia Pacific Wrenches Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.4.5. Grinders
- 4.4.5.1. Asia Pacific Grinders Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.4.6. Sanders
- 4.4.6.1. Asia Pacific Sanders Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.4.7. Others
- 4.4.7.1. Asia Pacific Other Power Tools Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.5. Hand Tools
- 4.5.1. Asia Pacific Hand Tools Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.5.2. Wrenches
- 4.5.2.1. Asia Pacific Wrenches Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.5.3. Screwdrivers
- 4.5.3.1. Asia Pacific Screwdrivers Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.5.4. Other Hand Tools
- 4.5.4.1. Asia Pacific Other Hand Tools Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- 4.6. Power Tools & Hand Tools Accessories
- 4.6.1. Asia Pacific Power Tools & Hand Tools Accessories Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
Chapter 5. Asia Pacific Power Tools Market: Mode of Operation Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. Mode of Operation Movement Analysis & Market Share, 2023 & 2030
- 5.3. Asia Pacific Power Tools Market Estimates & Forecast, By Mode of Operation, 2018 - 2030 (USD Billion)
- 5.4. Electric
- 5.4.1. Corded
- 5.4.2. Cordless
- 5.5. Others
Chapter 6. Asia Pacific Power Tools & Hand Tools Market: Application Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Application Movement Analysis & Market Share, 2023 & 2030
- 6.3. Asia Pacific Power Tools & Hand Tools Market Estimates & Forecast, by Application, 2018 - 2030 (USD Billion)
- 6.4. Industrial
- 6.4.1. Oil & Gas
- 6.4.2. Automotive
- 6.4.3. Rail
- 6.4.4. Aerospace & Defense
- 6.4.5. Construction
- 6.4.6. Others
- 6.5. Residential
Chapter 7. Asia Pacific Power Tools & Hand Tools Market: Country Estimates & Trend Analysis
- 7.1. Asia Pacific Power Tools & Hand Tools Market: Country Outlook
- 7.2. Asia Pacific
- 7.2.1. Asia Pacific Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.2. China
- 7.2.2.1. China Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.3. India
- 7.2.3.1. India Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.4. Japan
- 7.2.4.1. Japan Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.5. South Korea
- 7.2.5.1. South Korea Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.6. Singapore
- 7.2.6.1. Singapore Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.7. Malaysia
- 7.2.7.1. Malaysia Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.8. Thailand
- 7.2.8.1. Thailand Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.9. Indonesia
- 7.2.9.1. Indonesia Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.10. Philippines
- 7.2.10.1. Philippines Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.11. Vietnam
- 7.2.11.1. Vietnam Power Tools & Hand Tools Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Supplier Intelligence
- 8.1. Kraljic Matrix
- 8.2. Engagement Model
- 8.3. Negotiation Strategies
- 8.4. Sourcing Best Practices
- 8.5. Vendor Selection Criteria
- 8.6. List of Raw Material Suppliers
Chapter 9. Competitive Landscape
- 9.1. Recent Developments & Impact Analysis, By Key Market Participants
- 9.2. Competition Categorization
- 9.3. Company Market Positioning Analysis
- 9.4. Company Heat Map Analysis, 2023
- 9.5. Strategy Mapping, 2023
- 9.6. Company Listing
- 9.6.1. CHERVON (China) Trading Co., Ltd
- 9.6.1.1. Company Overview
- 9.6.1.2. Financial Performance
- 9.6.1.3. Product Benchmarking
- 9.6.1.4. Strategic Initiatives
- 9.6.2. Emerson Electric Co.
- 9.6.2.1. Company Overview
- 9.6.2.2. Financial Performance
- 9.6.2.3. Product Benchmarking
- 9.6.2.4. Strategic Initiatives
- 9.6.3. Hangzhou Great Star Industrial Co., Ltd
- 9.6.3.1. Company Overview
- 9.6.3.2. Financial Performance
- 9.6.3.3. Product Benchmarking
- 9.6.3.4. Strategic Initiatives
- 9.6.4. Hilti Corporation
- 9.6.4.1. Company Overview
- 9.6.4.2. Financial Performance
- 9.6.4.3. Product Benchmarking
- 9.6.4.4. Strategic Initiatives
- 9.6.5. Hongyu Tool Corporation
- 9.6.5.1. Company Overview
- 9.6.5.2. Financial Performance
- 9.6.5.3. Product Benchmarking
- 9.6.5.4. Strategic Initiatives
- 9.6.6. Ingersoll Rand, Inc (Gardner Denver)
- 9.6.6.1. Company Overview
- 9.6.6.2. Financial Performance
- 9.6.6.3. Product Benchmarking
- 9.6.6.4. Strategic Initiatives
- 9.6.7. Makita Corporation
- 9.6.7.1. Company Overview
- 9.6.7.2. Financial Performance
- 9.6.7.3. Product Benchmarking
- 9.6.7.4. Strategic Initiatives
- 9.6.8. Tapariatools
- 9.6.8.1. Company Overview
- 9.6.8.2. Financial Performance
- 9.6.8.3. Product Benchmarking
- 9.6.8.4. Strategic Initiatives
- 9.6.9. Ningbo Yongfeite Electronic Technology Co., Ltd.
- 9.6.9.1. Company Overview
- 9.6.9.2. Financial Performance
- 9.6.9.3. Product Benchmarking
- 9.6.9.4. Strategic Initiatives
- 9.6.10. Robert Bosch Tool Corporation
- 9.6.10.1. Company Overview
- 9.6.10.2. Financial Performance
- 9.6.10.3. Product Benchmarking
- 9.6.10.4. Strategic Initiatives
- 9.6.11. Ronix Tools
- 9.6.11.1. Company Overview
- 9.6.11.2. Financial Performance
- 9.6.11.3. Product Benchmarking
- 9.6.11.4. Strategic Initiatives
- 9.6.12. Stanley Black & Decker
- 9.6.12.1. Company Overview
- 9.6.12.2. Financial Performance
- 9.6.12.3. Product Benchmarking
- 9.6.12.4. Strategic Initiatives
- 9.6.13. Positecgroup.com
- 9.6.13.1. Company Overview
- 9.6.13.2. Financial Performance
- 9.6.13.3. Product Benchmarking
- 9.6.13.4. Strategic Initiatives
- 9.6.14. Koki Holdings Co., Ltd.
- 9.6.14.1. Company Overview
- 9.6.14.2. Financial Performance
- 9.6.14.3. Product Benchmarking
- 9.6.14.4. Strategic Initiatives
- 9.6.15. Jiangsu Guoqiang Tools Co., Ltd
- 9.6.15.1. Company Overview
- 9.6.15.2. Financial Performance
- 9.6.15.3. Product Benchmarking
- 9.6.15.4. Strategic Initiatives
- 9.6.16. Techtronic Industries Co. Ltd.
- 9.6.16.1. Company Overview
- 9.6.16.2. Financial Performance
- 9.6.16.3. Product Benchmarking
- 9.6.16.4. Strategic Initiatives
- 9.6.17. Zhejiang SALI Abrasive Technology Co., Ltd.
- 9.6.17.1. Company Overview
- 9.6.17.2. Financial Performance
- 9.6.17.3. Product Benchmarking
- 9.6.17.4. Strategic Initiatives
- 9.6.18. Apex Tool Group
- 9.6.18.1. Company Overview
- 9.6.18.2. Financial Performance
- 9.6.18.3. Product Benchmarking
- 9.6.18.4. Strategic Initiatives
- 9.6.1. CHERVON (China) Trading Co., Ltd
Product Code: GVR-4-68040-162-8
List of Tables
- Table 1 Asia Pacific Power Tools & Hand Tools Market Estimates & Forecast, by Product, 2018 - 2030 (USD Billion)
- Table 2 Asia Pacific Power Tools Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 3 Asia Pacific Drills Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 4 Asia Pacific Saws Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 5 Asia Pacific Wrenches Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 6 Asia Pacific Grinders Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 7 Asia Pacific Sanders Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 8 Asia Pacific Other Power Tools Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 9 Asia Pacific Hand Tools Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 10 Asia Pacific Wrenches Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 11 Asia Pacific Screwdrivers Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 12 Asia Pacific Other Hand Tools Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 13 Asia Pacific Power Tools & Hand Tools Accessories Market Estimates & Forecast, By Industrial Application, 2018 - 2030 (USD Billion)
- Table 14 Asia Pacific Power Tools Market Estimates & Forecast, By Mode of Operation, 2018 - 2030 (USD Billion)
- Table 15 Asia Pacific Power Tools & Hand Tools Market Estimates & Forecast, by Application, 2018 - 2030 (USD Billion)
- Table 16 Recent Developments & Impact Analysis, By Key Market Participants
- Table 17 Company Heat Map Analysis, 2023
List of Figures
- Fig. 1 Asia Pacific Power Tools & Hand Tools Market Segmentation
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation And Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Outlook
- Fig. 7 Segmental Outlook
- Fig. 8 Segmental Outlook
- Fig. 9 Competitive Outlook
- Fig. 10 Global Power Tools Market, 2023 (USD Billion)
- Fig. 11 Asia Pacific Power Tools & Hand Tools Market - Value Chain Analysis
- Fig. 12 Market Dynamics
- Fig. 13 Market Driver Impact Analysis
- Fig. 14 Construction Industry GDP in India, Q2 2020 - Q1 2023 (USD Billion)
- Fig. 15 Market Restraint Impact Analysis
- Fig. 16 Industry Analysis: Porter's
- Fig. 17 PESTEL Analysis, By SWOT
- Fig. 18 Product: Key Takeaways
- Fig. 19 Product: Market Share, 2023 & 2030
- Fig. 20 Asia Pacific power tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 21 Asia Pacific drills market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 22 Asia Pacific saws market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 23 Asia Pacific wrenches market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 24 Asia Pacific grinders market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 25 Asia Pacific sanders market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 26 Asia Pacific other power tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 27 Asia Pacific hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 28 Asia Pacific wrenches market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 29 Asia Pacific screwdrivers market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 30 Asia Pacific other hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 31 Asia Pacific power tools & hand tools accessories market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 32 Mode of Operation: Key Takeaways
- Fig. 33 Mode of Operation: Market Share, 2023 & 2030
- Fig. 34 Asia Pacific power tools market estimates & forecasts, by electric, 2018 - 2030 (USD Billion)
- Fig. 35 Asia Pacific electric power tools market estimates & forecasts, by corded, 2018 - 2030 (USD Billion)
- Fig. 36 Asia Pacific electric power tools market estimates & forecasts, by cordless, 2018 - 2030 (USD Billion)
- Fig. 37 Asia Pacific power tools market estimates & forecasts, by others, 2018 - 2030 (USD Billion)
- Fig. 38 Application: Key Takeaways
- Fig. 39 Application: Market Share, 2023 & 2030
- Fig. 40 Asia Pacific power tools & hand tools market estimates & forecasts, for industrial, 2018 - 2030 (USD Billion)
- Fig. 41 Asia Pacific industrial power tools & hand tools market estimates & forecasts, for oil & gas, 2018 - 2030 (USD Billion)
- Fig. 42 Asia Pacific industrial power tools & hand tools market estimates & forecasts, for automotive, 2018 - 2030 (USD Billion)
- Fig. 43 Asia Pacific industrial power tools & hand tools market estimates & forecasts, for rail, 2018 - 2030 (USD Billion)
- Fig. 44 Asia Pacific industrial power tools & hand tools market estimates & forecasts, for aerospace & defense, 2018 - 2030 (USD Billion)
- Fig. 45 Asia Pacific industrial power tools & hand tools market estimates & forecasts, for construction, 2018 - 2030 (USD Billion)
- Fig. 46 Asia Pacific industrial power tools & hand tools market estimates & forecasts, for others, 2018 - 2030 (USD Billion)
- Fig. 47 Asia Pacific power tools & hand tools market estimates & forecasts, for residential, 2018 - 2030 (USD Billion)
- Fig. 48 Country Marketplace: Key Takeaways
- Fig. 49 Asia Pacific power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 50 China power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 51 India power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 52 Japan power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 53 South Korea power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 54 Singapore power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 55 Malaysia power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 56 Thailand power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 57 Indonesia power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 58 Philippines power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 59 Vietnam power tools & hand tools market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 60 Kraljic Matrix
- Fig. 61 Engagement Model
- Fig. 62 Sourcing Best Practices
- Fig. 63 Vendor Selection Criteria
- Fig. 64 Competition Categorization
- Fig. 65 Market Position Analysis
- Fig. 66 Strategy Mapping, 2023
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