Power Tools Market in Europe to Accelerate at a CAGR of about 4% during 2021-2025|Technavio

NEW YORK, Feb. 23, 2021 /PRNewswire/ --The new power tools market research in Europe from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

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"One of the primary growth drivers for this market is the growing popularity of cordless power tools," says a senior analyst for the industrials industry at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the power tools market in Europe size to grow by USD 1.59 billion during the period 2021-2025.

Power Tools Market in Europe Segment Highlights for 2020

    --  The power tools market in Europe is expected to post a year-over-year
        growth rate of 3.25%.
    --  Based on the application, the commercial segment saw maximum growth in
        2020. Factors such as the growing popularity of cordless power tools
        will drive the growth of the market.
    --  The growth of the market segment will be significant during the forecast
        period.

Regional Analysis

    --  65% of the growth will originate from the Rest of the European region.
    --  The growth of commercial and residential end-user markets will
        significantly influence power tools market growth in Europe in this
        region.
    --  The Rest of Europe will offer several growth opportunities to market
        vendors during the forecast period.

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Notes:

    --  The power tools market in Europe size is expected to accelerate at a
        CAGR of about 4% during the forecast period.
    --  The power tools market in Europe is segmented by technology (Electric,
        Pneumatic, and Engine-driven), application (Commercial, Residential, and
        Industrial), and Geography (Germany, France, UK, Belgium, and Rest of
        Europe).
    --  The market is fragmented due to the presence of many established vendors
        holding significant market share.
    --  The research report offers information on several market vendors,
        including Apex Tool Group LLC, C. & E. Fein GmbH, Emerson Electric Co.,
        Hilti Corp., Ingersoll Rand Inc., Koki Holdings Co. Ltd., Makita Corp.,
        Robert Bosch GmbH, Stanley Black & Decker Inc., and Techtronic
        Industries Co. Ltd.

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SOURCE Technavio