Executive Summary
Impact of COVID-19
In 2020, the COVID-19 pandemic had a net negative impact on the North American power tool industry, with a decline in demand and so as industry revenue. Domestic demand was majorly hit by slow moving construction and industrial production owing to movement control restrictions, rise in unemployment as many companies reduced the workforce to recover losses incurred after the virus hit the geography.
Also, industrial production was on halt for non-essential goods and supply chain disruptions contributed to low demand. On the other hand, there was rise in DIY activities that generated the demand for portable power tools.
Renovation spending was steadily increasing in Canada before the virus outbreak however after witnessing a strong performance in 2019, spending on home renovations fell in 2020 owing to rise in unemployment and uncertain economy environment while there was also a significant percentage of population who initiated renovation during lockdown using DIY tools.
Role of Li-ion
With swelling production of efficient lithium-ion batteries over the last decade, prices have declined by 85%, making electric vehicles and energy storage commercially viable. Owing to rise in production and demand for Li-ion batteries in the region, market revenue reached to USD 9.4 billion in 2018 however cost has declined over the last one decade.
Market Performance
In the global power tools market, North America holds a dominant share, mainly due to its automobile manufacturing, aerospace manufacturing as well as construction industry and also DIY culture has a key role to play.
Therefore, the region is expected to have the leading position in coming years as well. Cordless power tools are gaining market share driven by falling prices of lithium ion batteries that is making the cordless power tools more affordable. However in 2020, exports has declined sharply due to fall in exports demand.
Scope of the Study
The report titled "North America Power Tools Market-Post COVID-19 Performance & Outlook to 2027" published by Makreo Research and Consulting Firm helps the reader to gain insights on regional economy performance along with a country overview. Report discusses market past, present and future expected performance, mainly estimation for 2020 and 2021. Profile of key players has also been discussed.
The report helps readers to gain information on the following areas:
Table of Content
1. Industry at a Glance
2. Research Methodology
Objective of the Study
Research Process
3. Region Overview- EPTD Analysis
Region Overview- EPTD Analysis
EPTD Analysis – Economic Overview
EPTD Analysis – Political Overview
EPTD Analysis – Technological Overview
EPTD Analysis – Demographic Overview
4. Trade Performance
Americas Trade Performance
Power Tools Import – Key Performing Countries
5. Impact of COVID-19
Impact of COVID-19 Over Power Tools Demand
Impact of COVID-19 – Government Initiatives
Impact of COVID-19 – The US Automobile Sector
Impact of COVID-19 – Canada Automobile Sector
Impact of COVID-19 Over the US Construction Industry
6. Market Dynamics
North America Power Tools Industry-Trends & Developments
North America Power Tools Industry-Driving Forces
North America Power Tools Market - Growth Retardants
7. North America Power Tools Market Analysis & Forecast
Power Tools Market Structure
North America Power Tools - Industry Overview
North America Power Tools Market Performance
North America Power Tools Market Revenue
North America Power Tools Market by Geography
North America Power Tools Market Segmentation by Type of Tools
North America Power Tools Market Segmentation by End User
North America Power Tools Market Segmentation by Products
North America Power Tools Market Future Outlook
8. North America Power Tools Market – Company Profile
Company Profile – Robert Bosch GmbH
Company Profile - Stanley Black & Decker
Company Profile – Makita Corporation
Company Profile - Techtronic Industries
Company Profile – Hilti Group
Company Profile – 3M
Company Profile – ATLAS COPCO AB
Company Profile – Emerson Electric Co.
Company Profile – Koki Holdings Co., Ltd.
Company Profile – Snap-on Inc.