Power Drills Market by Technology (Cordless power drills, Corded power drills), Product (Hammer and rotary power drills, Impact power drills, Traditional power drills), and Consumer type (DIY, Professional): Global Opportunity Analysis and Industry Forecast, 2021–2030

 Power drills are electric power tools used to make hole or attach fasteners, such as nails, or screws on the surface like metal, plastic, or wood. The power drill comprises of parts such as the handle, an on/off trigger, a reversing switch to change rotational direction of drill, a torque adjustment, and others. There are two types of power drills; these include corded power drill and cordless power drill. Corded power drill is attached to an electric cord and is more reliable, whereas, cordless power drill works on rechargeable lithium-ion battery packs and is suitable for light tasks. Power drills are used in commercial and residential sectors. Power drills minimise the time taken, improves task efficiency, and reduces the chances of human errors and injury. Power drills are used in various sectors such as in construction, aerospace, and shipbuilding.

Market Scope and Structure Analysis

COVID-19 Impact Analysis

• COVID-19 pandemic has shut down the production of power drills attributed to the lockdown in countries worldwide this has hampered the growth of power drills from the last few months and is likely to grow in 2021.
• COVID-19 has already affected the sales of power drills in the second and third quarter of 2020 and is anticipated to grow in year 2021.
• The major demand for power drills was previously noticed from countries including the U.S., Germany, Italy, UK, and China which are negatively affected by the spread of the coronavirus thereby declining the demand for power drills.
• Further potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves power drills manufacturers can afford a full lockdown only for a few months after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
• Power drills manufacturers are expected to focus on protecting their workforce operations and supply chains to respond to ward immediate crisis and find new ways of working after COVID-19 for instance provision of sanitizers maintaining social distancing as well as ensuring the vaccination of every employee in the company can assist in promoting the health and safety of the workforce.

Top Impacting Factors

Power drill is extensively used in constructional activities and rapid increase of constructional works in developing nations is driving its demand. Consumers prefer battery operated products and battery technologies is improving and therefore, cordless power drill is being manufactured extensively. Moreover, cordless power drill is more reliable, mobile, compact, and flexible and hence, it is in high demand among users. Do-it-yourself activities and techniques is trending and so consumers tend to purchase power drills for light tasks and for small and light works of home.

Fluctuation in price of raw material and high maintenance cost of power tools hinder the market growth.

Market trends

• Robert Bosch GmbH, one of the leading players in the market has launched EasyHammer 12V which can be easily handled even by DIY beginners.
• Biturbo hammer GBH 18V-34 CF Professional is another product launched by Robert Bosch GmbH in 2021.

Key Segments Covered

Market by Product Technology

• Cordless power drills
• Corded power drills

Market by Product

• Hammer and rotary power drills
• Impact power drills
• Traditional power drills

Market by Consumer type

• DIY
• Professional

Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Argentina
  • GGC
  • South Africa
  • Rest of LAMEA

Key Benefits of the Report

• This study presents the analytical depiction of the power drills along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the power drills market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the power drills market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed power drills market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Power Drills Report

• Who are the leading global players in the " Power Drills " Market?
• What are the current trends and predicted trends?
• What is " Power Drills "?
• What is " Power Drills " Market prediction in the future?
• What are the challenges faced in the " Power Drills " Market?
• What are the driving factors and opportunities in the market?
• What are the key benefits of the " Power Drills " Market report 

 Key Market Segments & Key Market Players