Power tools consist of varieties of tools, which added with some additional power to perform certain task. Electric motor is the most common types of power tools. Some example of the power tools are drill machine, circular saw, crusher, heat gun, disc sander, jackhammer, angle grinder, nail gun, wall chaser and wood router. Hand tools are operated by hand only and not by any electric machine. Some of the hand tools are hammers, garden forks, rakes, secateurs, spanners, screwdrivers, pliers, wrenches, clamps, hook cutter, plumbing tools and chisels. Hand tools are generally less dangerous than power tools.
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Professional market contributes the larger share of power and hand tool. Professional market comprises of individuals who work in various industry such as construction industry, manufacturing industry, technical services and maintenance industry. In 2013, professional market held around two-thirds of total sales of power and hand tools in North America. Power tools are more intensively use by professionals than normal consumers. They are ready to pay high price for new power tools due to their better performance and long life durability. This leads to further increase the overall market of power and hand tools.
North America is the largest market of power and hand tools. Growing economy in developing countries of Asia Pacific region stimulate consumer spending activity on construction of residential and non-residential building. This creates the demand of various power and hand tools. Introduction of innovative tools such as cordless saws and drill machine, further boost the market of power and hand tools. Western Europe is the fastest growing region in Europe and it is expected to hold one forth market in near future. Growing industry in European countries helps to drives the power and hand tools market.
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Some of the major companies operating in global power and hand tools are –
- Actuant Corporation
- AIMCO Corporation
- Allied Trade Group (ATG) Stores
- Alltrade Tools LLC,
- AMES Companies
- Apex Tool Group LLC,
- Atlas Copco AB
- Black & Decker
- Stanley Black & Decker,
- Bosch (Robert) GmbH
- Channellock Incorporated
- Chervon Holdings Limited
- Chicago Pneumatic Tool
- Danaher Corporation