According to the research report titled ‘North America Power Tools Market Forecast 2027 By Tool Type, By Mode, By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America power tools market is anticipated to attain a valuation of USD 17 billion by the year 2027.

As per the report findings, North America power tools market growth is driven by growing demand for advanced equipment from the flourishing construction sector for building complex structures.

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For the uninitiated, power tools are being used across various industries including electronics, energy, aerospace, construction, and automotive. These tools turn out be better options when compared with traditional tools because they save both time and money for the user.

Furthermore, increasing usage of power tools in automotive industry for various repair and maintenance services, along with the surging number of infrastructure development and renovation projects are expected to augment the marketplace in the coming years.

Based on mode, the electric corded segment is anticipated to register 6.8% CAGR over the forecast period, owing to widespread usage in industries like shipbuilding, automotive, energy, aerospace, and construction.

In terms of tool type, the drilling & fastening segment of North America power tools industry is predicted to amass USD 5 billion by 2027, due to the incorporation of advanced technologies in these equipment to carry out heavy industrial activities, and rising product adoption by DIYers and professionals for precise working.

On the basis of application ambit, the construction segment accounted for 30% revenue share in 2020, because of the usage of equipment in wrenching, drilling, nailing, and a variety of other tasks.

Whereas the DIY segment was worth USD 2.3 billion in 2020, on account of growing product demand for renovation, interior décor, plumbing, and gardening by the young population.

Apex Tool Group, Andreas Stihl AG & Co. KG, Snap-on Incorporated, Enerpac Tool Group, Hitachi Koki Ltd., Emerson Electric Co., Atlas Copco, Makita Corporation, Hilti Corporation, Stanley Black & Decker Inc., Techtronic Industries Company Limited, and Robert Bosch GmbH are the leading players in North America power tools market.