NEW YORK, Jan. 28, 2024 /PRNewswire/ — The power tools accessories market in UK size is estimated to grow by USD 91.27 million from 2023 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 4.48% during the forecast period. The rising demand for accessories for DIY projects drives the growth. DIY activities, popularized through social media, engage enthusiasts in modifying and maintaining possessions, driving the need for suitable tools and equipment. The increasing inclination towards DIY projects for home repair jobs, cost considerations, and creative expression contribute to the positive trajectory.
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Segmentation is based on Type (Drill bits, Screwdriver bits, Router bits, and Others), End-user (Professional and Individual), Distribution Channel (Offline and Online), and Geography (Europe).
- Substantial growth is offered by the drill bits segment. These tools, available in various sizes and shapes, are crucial for creating holes in different materials. Attached to a drill, they cut through workpieces by rotation, with varying materials used for their development to suit specific purposes.
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The adoption of flexible battery systems and wireless charging emerges as a leading trend fueling the growth, whereas the influx of Chinese brands in the UK may hamper the growth during the forecast period.
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What are the key data covered in this report?
- CAGR during the forecast period
- Detailed information on factors that will drive the growth between 2024 and 2028
- Precise estimation and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the industry across UK
- A thorough analysis of the competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Power Tools Accessories vendors In UK
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Key Offerings
The industry in focus showcases diverse offerings including power drills, saw blades, drill bits, and router bits. With an array of power tool attachments, accessories, and safety gear, it caters to diverse needs, emphasizing maintenance kits, replacement parts, and protective wear. Power tool storage solutions and organizational accessories contribute to a comprehensive offering.
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The Global Power Tools Market size is estimated to grow by USD 11.43 billion between 2022 and 2027 accelerating at a compound annual growth rate (CAGR) of 5.74%.
The Europe – Power Tools Market size is estimated to grow at a CAGR of 4.36% between 2023 and 2028. The market size is forecast to increase by USD 2,570 million.
ToC
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentation by Type
7 Segmentation by End-user
8 Segmentation by Distribution Channel
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 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 insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.
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Jesse Maida
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Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
