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Rotary Tools Market Share
In 2023, key companies like Bosch, Makita, Craftsman, Techtronic companies held a combined market share of 40-45%. These companies are actively engaging in mergers, acquisitions, facility expansions, and collaborations to enhance their product portfolios, reach more customers, and strengthen their market positions.
Companies are heavily investing in research and development to develop advanced and smart rotary tools that align with the changing and evolving industry’s needs and preferences. Competitive strategies frequently center on product differentiation, where manufacturers augment their offerings with distinctive features, and geographic expansion to penetrate emerging markets. In this dynamic environment, companies that adeptly innovate and respond to market trends are poised for the most significant growth.
Rotary Tools Market Companies
Major players operating in the rotary tools industry are:
- Bosch
- Craftsman
- Dremel
- Duratool
- Emerson
- Makita
- Milwaukee
- Proxxon
- Ryobi
- Stanley
- WEN Products
- Worx
How big is the rotary tools market?
The global market for rotary tools was reached USD 796.5 million in 2023 and is estimated to grow at a 4.3% CAGR from 2024 to 2032, driven by the rising home DIY culture.
Why is the demand for electric rotary tools increasing?
The electric segment generated revenue of around USD 504.4 million in 2023 and is projected to grow at a 4.7% CAGR from 2024 to 2032, due to their efficiency and versatility in various applications.
What is the market share of the industrial/professional segment in the rotary tools market?
The industrial/professional segment held around 63% of the market share in 2023 and is anticipated to grow at a 4% CAGR from 2024 to 2032, led by the demand for precision tasks in manufacturing sectors.
What is the growth forecast for the DIY/home improvement segment in the rotary tools market?
The DIY/home improvement segment is expected to grow at a 4.9% CAGR through 2032, fueled by the increasing popularity of DIY projects among homeowners.
What trends are influencing the U.S. rotary tools market?
The U.S. rotary tools market size exceeded USD 172.8 million in 2023 and is estimated to grow at a 4.4% CAGR from 2024 to 2032, led by the robust manufacturing base in automotive, aerospace, and electronics sectors.
Who are the major players in the rotary tools market?
Key players in the rotary tools industry include Bosch, Craftsman, Dremel, Duratool, Emerson, Makita, Milwaukee, Proxxon, Ryobi, Stanley, WEN Products, and Worx.