NEW YORK, July 13, 2021 /PRNewswire/ — The power tools market in the US is expected to grow by USD 1.63 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the power tools market in the US in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through the Response, Recovery, and Renew phases.
The power tools market in us will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Related Reports on Industrials Include:
Global Machine Tools Market – Global machine tools market is segmented by end-user (automotive, industrial machinery, precision engineering, transportation, and others) and geography (APAC, Europe, North America, MEA, and South America).
Global Metal Cutting Tools Market – Global metal cutting tools market is segmented by product (milling tools, drilling tools, and other tools) and geography (APAC, North America, Europe, South America, and MEA).
Major Three Power Tools Market in US Participants:
Apex Tool Group LLC
The company offers power tool models such as Weller, Cleco, and Apex.
Emerson Electric Co.
The company offers power tools products such as Miter Saws, Table Saws, and Drill Presses, Rotary tool and Steel cut off saw.
Illinois Tool Works Inc.
The company offers power tools products such as Drills, Saws, and Air Compressors.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get the report snapshot here to get a detailed market share analysis of market participants during COVID-19 lockdown:
Power Tools Market in US 2021-2025: Segmentation
Power tools market in the US is segmented as below:
The power tools market in us is driven by the growing demand for power tools for DIY projects in the US. In addition, a rise in construction and infrastructure development activities is expected to trigger the power tools market in the US toward witnessing a CAGR of over 3% during the forecast period.
Get more insights about the global trends impacting the future of the power tools market in US, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR44840
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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