COMMERCIAL FEATURE
Power tools market in Europe set to grow According to the Power Tools Market in Europe Analysis Report*, it is expected that the power tools market in Europe will grow by $1.36 billion (¤1.16 billion) during 2018-2022. This growth is being attributed to the rapid adoption of cordless power tools to keep up with the growing DIY culture.
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Growing popularity of DIY in the European home improvement market has led to an increase in the demand for power tools that are convenient, lightweight, safe, and enable freedom of movement.
power density and enhanced power-to-weight ratio. Thus, the growing popularity of cordless power tools equipped with li-ion batteries is expected to drive market growth during the forecast period.
The cordless power tools segment is the fastest growing product segment of the power tools market in Europe. This is propelling the adoption of lithium-ion batteries as they are extensively used in cordless power tools as they use less toxic materials and have a low self-discharge rate. Cordless power tools powered by li-ion batteries also exhibit high
* Power Tools Market in Europe Analysis Report by Application (Commercial, Residential, and Industrial), Technology (Electric, Pneumatic, and Engine-driven), Geography (Germany, France, The UK, and Others), and Segment Forecasts, 2018-2022�.
November/December 2020
