According to FMI’s analysis report, the global power tool gears market was valued at US$ 5.63 billion in 2021 and is expected to grow at a CAGR of 5.1% between 2022 and 2030, with a significant impact felt in the initial period of forecast due to the current shutdown of manufacturing industries in emerging markets.
Electric tool gears are required for the usage of drills, saws, hammers, and grinding machines. They are crucial in modifying the velocity and torque of the aforementioned gadget.
However, the demand for cutting-edge and superior energy equipment among woodworkers and metal fabricators will drive the growth of the strength device gears market through 2030.
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Key Takeaways of Power Tool Gears Market Study
- Increasing adoption of automation, better productivity, and easier and accurate operations are vital points propelling the demand and usage of power tools, which is subsequently fueling the growth of the power tool gears market.
- Power tools can be used for hard materials, which are otherwise strong and difficult to work on with mechanical tools. Also, lack of skilled workforce and wage issues are other driving factors for the increment of the power tool gears market.
- Use of spur gears and worm or spiral gears is anticipated to increase over the forecast period.
- The professional end user type segment is likely to retain its dominance in the market due to the requirement of more gear sets. High adoption of power tools for professional purposes is also driving the segment.
- By application, grinding machines are anticipated to progress at a swift pace over the forecast period, with increasing use of sanders and polishers in the market.
“To improve profit margins by increasing production rates and reducing operating costs, effective reduction in workforce is required. As such, many end-use companies are anticipated to increase the usage of power tools over the slated course of time. However, due to the spread of the novel coronavirus, which is nearly shutting down many prominent economies, growth of the power tool gears market will be hindered in the immediate future.”
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Power Tool Gears Market by Category
By Gear Type:
- Bevel Gears
- Spiral Gears
- Spur Gears
- Helical Gears
- Hypoid Gears
By Application:
- Grinding Machines
- Drills
- Hammers
- Saws
- DC Cordless Screw Drivers
By End User:
- Professional
- DIY (Consumer)
By Region:
- North America
- Latin America
- Europe
- South Asia Pacific
- East Asia
- MEA
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Global Power Tool Gears Market Demand Analysis 2015-2021 and Forecast, 2022-2030
3.1. Historical Market Volume (Units) Analysis, 2015-2021
3.2. Current and Future Market Volume (Units) Projections, 2022-2030
3.3. Y-o-Y Growth Trend Analysis
- Global Power Tool Gears Market – Pricing Analysis
4.1. Regional Pricing Analysis By Product Type
4.2. Pricing Break-up
- Global Power Tool Gears Market Demand (in Value or Size in US$ Million) Analysis 2015-2021 and Forecast, 2022-2030
5.1. Historical Market Value (US$ Million) Analysis, 2015-2021
5.2. Current and Future Market Value (US$ Million) Projections, 2022-2030
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