The Power Tool Gears Market plays a vital role in facilitating the efficient usage of electric drills, saws, hammers, and grinding machines. These gears serve as essential components responsible for modifying the velocity and torque of these power tools, ensuring optimal performance and precision in various applications. As demand for high-quality and versatile power tools continues to rise, the Power Tool Gears Market is expected to witness significant growth, catering to the ever-evolving needs of professionals and DIY enthusiasts alike.
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.
Maximize Your Potential: Assess Market Potential with Our Comprehensive Market Overview – Download Our Sample Now@
https://www.futuremarketinsights.com/reports/sample/rep-gb-7650
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.”
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
Empower Your Strategy: Unlock Targeted Insights for Power Tools Market Expansion @
https://www.futuremarketinsights.com/customization-available/rep-gb-7650
About Us
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.
Contact:
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
