Rotary Hammer Drill Market

COVID-19 Impact analysis

• The COVID-19 pandemic ceased the production of various products in the rotary hammer drill industry, which is attributed to the global lockdown. This has hampered the growth of rotary hammer drill market in the years and a similar trend is expected to be seen in the first half of 2022.
• The major demand for rotary hammer drill was previously noticed from giant developed and developing 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 rotary hammer drill.
• Further, long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Rotary hammer drill manufacturers can afford a 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 their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
• Rotary hammer drill manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises 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 & safety of the workforce. 

Top Impacting Factors

Rapid urbanization in many countries is driving demand for new home construction, which heavily relies on power tools such as rotary hammer drills; as a result, demand in the rotary hammer drill market is surging. Increase in private-public partnerships (PPPs) to promote infrastructural development is one of the important driving factors for the rotary hammer drill market. PPPs have been implemented in various countries, such as South Korea and India. The boost in PPPs can assist in boosting the infrastructure industry, thereby driving the demand and growth of rotary hammer drill market. Moreover, the high cost of personal home renovation is pushing the DIY (Do It Yourself) culture. For this reason the demand of rotary hammer drills is expected to rise. However, the rise in the fluctuating cost of raw material is one of the restraining factors hindering the growth in rotary hammer drill market. Contrarily, technological developments in rotary hammer drill products such as latest innovation in battery technology, incorporation of innovative safety measures, and lightweight construction boost the efficiency of the equipment. This is expected to create lucrative opportunities for the rotary hammer drill market growth during the forecast period.

Market Trends

• New products that contain improved capabilities are launched by leading market players. For instance, in March 2019, DEWALT launched the Brushless Cordless Power Hammer Drill Driver. The product launch has enhanced the product offerings of the company to sustain the competition in the market.
• Businesses are working on becoming a common name among professionals and industries by partnering with different parties. For instance, in June 2021, DeWalt, a global power tool manufacturer, partnered with a sports team (Carolina Panthers) based in California, U.S. to be its official power tool sponsor. This move will enhance their awareness in the region.
• Moreover, business expansion strategies assist in enhancing the geographic footprint of the company and help in gaining significant market share for electric angle grinder market products. For instance, in September 2019, Techtronic Industries, based in Hong Kong, announced its plans to expand its operations in Anderson County, Colombia, U.S. This expansion will include a new 1 million-square-foot manufacturing plant along with a warehouse to support production and assembly operations in the county for the region.

Key Benefits of the Report

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