Global Power Tool Market likely to reach US$ 64.5 billion by 2033, registering a 6% CAGR | Future Market Insights, Inc.
NEWARK, Del., Oct. 10, 2023 /PRNewswire/ -- The power tool market will be valued at US$ 36.04 billion in 2023. The market is expected to be worth US$ 64.5 billion by 2033. The market is estimated to grow at a CAGR of 6% from 2023 to 2033. Persistent advancement in power tool innovations, including brushless motors, batteries made with lithium-ion, and sophisticated amenities like connected IoT devices, improves efficiency, resilience, and customer service. These developments boost customer demand as buyers seek superior, effective, and user-friendly technologies.
- With cutting-edge power tools revolutionizing workspaces and enhancing efficiency, particularly in the expanding construction industry, this market will reach an impressive valuation of US$ 64.5 billion by 2033.
- NEWARK, Del., Oct. 10, 2023 /PRNewswire/ -- The power tool market will be valued at US$ 36.04 billion in 2023.
- The market is estimated to grow at a CAGR of 6% from 2023 to 2033.
- Persistent advancement in power tool innovations, including brushless motors, batteries made with lithium-ion, and sophisticated amenities like connected IoT devices, improves efficiency, resilience, and customer service.