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Rotary Tool Market Trends

Report ID: GMI12180
Published Date: Nov 2024
Report Format: PDF

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Rotary Tool Market Trends

The proliferation of online shopping has enhanced the accessibility of rotary tools for consumers. E-commerce platforms offer an extensive range of products at competitive prices, enabling consumers to make well-informed purchasing decisions. These platforms facilitate product reviews and comparisons, thereby increasing consumer trust and confidence in rotary tool purchases. This trend has prompted brands to enhance their offerings based on customer feedback. Additionally, brands are increasingly adopting direct-to-consumer models, fostering stronger customer relationships and optimizing supply chains, which in turn boosts customer satisfaction and loyalty.

Urban population growth drives demand for housing and infrastructure, leading to increased utilization of power tools, including rotary tools, in construction projects. Emerging markets in Asia-Pacific and Africa are experiencing significant urban expansion, further propelling tool demand. Governments are investing in infrastructure and housing projects to stimulate economic growth, creating opportunities for rotary tool manufacturers as construction companies seek reliable equipment.

Authors: Aviansh Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

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.

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.

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.

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.

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.

Key players in the rotary tools industry include Bosch, Craftsman, Dremel, Duratool, Emerson, Makita, Milwaukee, Proxxon, Ryobi, Stanley, WEN Products, and Worx.