Asia Pacific Power Tools Market

Asia Pacific Power Tools Market Size (2024-2032):

The size of the Asia Pacific power tools market was worth USD 5.68 billion in 2023. The Asia Pacific market is anticipated to grow at a CAGR of 6.16% from 2024 to 2032 and be worth USD 10.52 billion by 2032 from USD 6.52 billion in 2024.

Market Scenario

It is expected that the power tools market in Asia-Pacific is going to record a CAGR of 5.6%. A power tool is a device actuated with an additional source of power and a mechanism other than solely manual labor that is used by hand tools. Internal combustion engines and compressed air are the major types of power tools, and they are also commonly used. Steam engines, direct burning of fuels and explosives, such as in powder-actuated devices, or even natural power sources such as wind or moving water are included in other power sources. Generally, tools directly driven by animal power are not considered as power tools.

The growth of the target market in this region owes to the constant growth of the construction industry in emerging nations like India & China, the rising need for automation, and growing global sales for commercial vehicles.

Market Drivers

Augmentation of innovations in the fields of automation and charging technologies like lithium-ion rechargeable batteries are the primary concerns that are the primary drivers of the Asia-Pacific Power Tools Market.

Market Restraints

However, high maintenance costs of power and safety concerns are the significant challenges that are hampering the growth of the power tools market in this region.

Market Segmentation

Asia Pacific Power Tools Market Analysis By Tool Type 

• Material Removal
• Drilling & Fastening
• Demolition
• Sawing 
• Other Tools

Asia Pacific Power Tools Market Analysis By End-Use

• Construction 
• Automotive 
• Aerospace
• Logistics
• House Hold/Residential Use 
• Industrial Applications 
• Others

Asia Pacific Power Tools Market Analysis By Power Source 

• Pneumatic Power Tools
• Electric Power Tools 

Geographical Analysis

• China
• India
• Japan
• South Korea
• Australia

In the regional analysis of the Asia Pacific Power Tools Market, India and China have garnered a significant share of the market revenue. And also, these countries' power tool markets are estimated to maintain dominance during the forecast period as well. The growth of the target market in India owes to the 'Make in India' movement that the government was encouraging. Also, countries such as South Korea and Japan are likely to witness considerable growth owing to their shipbuilding sector over the next five years.

Market Key Players

The key players of the Asia-Pacific Power Tools Market include Stanley Black & Decker (US), Techtronic Industries (Hong Kong), Robert Bosch (Germany), Makita Corporation (Japan), Hilti Corporation (Liechtenstein), Atlas Copco (Sweden), Apex Tool Group (US), Ingersoll-Rand (Ireland), KOKI Holdings (Japan), and Snap-on Incorporated (US), and Others.

Market Recent Developments

• Robert Bosch, a German multinational engineering and technology company that was headquartered in Gerlingen, has launched its range of various cordless power tools like a wireless screwdriver that runs by lithium-ion batteries.  

• Hilti Inc., a Liechtenstein multinational company that develops, manufactures, and markets products for the construction, building maintenance, energy, and manufacturing industries, has expanded its industry-leading cordless tool offerings by launching the world's first cordless breaker, the TE 500-A36.