Latin America Power Tools Market

Latin America Power Tools Market Size (2024-2032):

The Latin America Power Tools Market was worth US$ 2.12 billion in 2023 and is anticipated to reach a valuation of US$ 3.33 billion by 2032 from US$ 2.23 billion in 2024, and it is predicted to register a CAGR of 5.15% during the forecast period 2024-2032.

Market Scenario

A power tool is the devices that can get actuated by the additional power source or the mechanisms that are not solely utilized by manual labor or hand tools. Major types of power tools are internal combustion engines and compressed air. And the steam engines, direct burning of fuels and propellants, such as in powder-actuated devices, or even natural power sources like wind or 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 is attributed to the recovering construction industry collectively with rapid urbanization in the countries of this region.

Market Drivers:

The surge in the construction industry, coupled with the rapid urbanization and an increase in public-private partnerships are the significant drivers of growth in the Latin American Power Tools Market.

Market Restraints:

However, factors like fluctuation in the prices of the goods and high maintenance costs are the major challenges that are limiting the growth of the power tools market in Latin American.

Market Segmentation

Latin America Power Tools Market - By Tool Type:

1. Drilling & Fastening Tools

• Drills
• Impact Drivers
• Impact wrenches
• Screwdrivers and nut runners

2. Demolition Tools

• Rotary hammers
• hammer drills
• demolition hammers

3. Sawing and Cutting Tools

• Jigsaws
• Reciprocating saws
• Circular saws
• Band saws
• Sheers and nibblers

4. Material Removal Tools

• Sanders/polishers/buffers

5. Other Tools

• Measuring and layout tools
• Laser Tools
• Dust Extractors
• Glue guns, and Heat Guns

Latin America Power Tools Market - By Power Source:

• Electric Power Tools
• Pneumatic Power Tools

Latin America Power Tools Market - By End-Use

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

Geographical Analysis

• Brazil
• Mexico
• Argentina
• Chile
• Rest of LATAM

In the regional analysis of the latin america power tools market, Mexico has garnered a significant share of the target market's revenue in this region followed by Brazil. The growth of the power tools market in Mexico is due to the rising number of partnerships between the public and private sectors, which are leading to the growth in advancements based on infrastructure and construction.

Market Key Players:

The key players of the latin america 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:

• Snap-on Incorporated, a leading global innovator, manufacturer, and marketer of tools, equipment, diagnostics, repair information & systems solution, has scheduled to present at the Merrill Lynch 2020 Consumer & Retail Technology Conference held by Bank of America. 
• Ingersoll-Rand Plc, also known as Trane Technologies which is a manufacturing company formed in 1905 with the merger of Ingersoll-Sergeant Drill Company and Rand Drill Company, has launched Following IR Spin-of.