DUBLIN, October 31, 2017 /PRNewswire/ --
The "Global Power Tool Batteries Market 2017-2021" report has been added to Research and Markets' offering.
The global power tool batteries market is forecast to grow at a CAGR of 8.12% during the period 2017-2021.
The report, Global Power Tool Batteries Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the technological advances in power tool equipment. Many international and regional players exist in the market. The major market players upgrade the technology and register patents to increase the overall proficiency of power tools. For instance, a pocket-sized laser was launched by Bosch in 2015 that can expediently change with user activities. The product has prodigious functionality and range that offers real-time measurements with greater accuracy. Milwaukee Tool launched a digital platform for jobsite tools in 2015
According to the report, one of the major drivers for this market is the increase in consumer use of power tools. Rise in urbanization and increase in the number of persons earning in one family have led to the upsurge in worldwide disposable income. This urbanization rise has led to the increasing number of people knowing about various consumer products and their benefits. Consumer spending is a substantial economic factor as it generally matches with the total consumer confidence in a nation's economy. High consumer confidence indicators naturally relate to higher levels of consumer spending in the economic market.
Further, the report states that one of the major factors hindering the growth of this market is the high cost for cordless power tool equipment. Power tools are used for easy and efficient movement of goods. To increase operational convenience, power tools come with various capabilities and features. Also, increased usability, accurate controls, and foolproof technology eliminate the risks in mishandling high-speed power tools. However, these features and advanced technology come at a higher cost. This high cost of consumables, coupled with their high maintenance costs, has caused small-scale industries to sidestep from investing in efficient and effective power tools. In addition, high-quality, energy-efficient power tools are very expensive, making them unaffordable for small-scale industries.
- A123 Systems
- LG Chem
- Panasonic Industrial Devices & Solutions
- SAMSUNG SDI
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Battery
Part 07: Geographical Segmentation
Part 08: Decision Framework
Part 09: Drivers And Challenges
Part 10: Market Trends
Part 11: Vendor Landscape
Part 12: Key Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/ln7bjl/global_power_tool
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