DUBAI, U.A.E, Sept. 24, 2020 /PRNewswire/ -- Future Market Insights (FMI) in its latest study reflects that the Europe woodworking power tools market will be reflecting a promising CAGR of 5 % over the projected period of 2020-2030. Growing carpentry and construction sectors promises lucrative growth prospects for the European woodworking power tools market.
The report further states that increasing efforts by the EU concerning carbon footprint reduction, and climate change prevention, the Europe timber market is legislating and investing in sustainable forest sources based on imports and local wood, which directly influences cost of woodworking operations and sales of the associated power tool. While affected by the COVID-19 pandemic, the market is poised to recover in 2021, with ease on pandemic regulations.
"Prominent players, corresponding to the swift demand surge for connectivity and smart technologies in woodworking are utilizing their expertise in developing software, services, and sensor technology to offer power tool solutions across domains to the consumer.", says the FMI analyst.
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Woodworking Power Tools Market – Key Trends
Woodworking Power Tools Market - Regional Analysis
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Woodworking Power Tools Market - Competitive Landscape
European woodworking power tool players are focusing on boosting product portfolio, facility, and regional expansion. Leading players are further involved in strategic acquisitions of small and regional players in the region to satiate customer's needs.
Stanley, Black & Decker took over the Lenox & Irwin tool brands, targeting for a multi-pronged growth strategy, including an extensive product range, expansion of retail and industrial distribution channels, regional expansion in Europe, as well as restraining acquisition prospects for its competitors.
Major players operating in the Europe woodworking power tools market are Stanley, Black & Decker, Makita Corporation, Robert Bosch Power Tools GmbH, Michael Weeing AG, Hilti Corporation, FEIN Power Tools Inc., Festoon GmbH, Farm International B.V., MILWAUKEE TOOL, Triton Tools and WEN Products.
Woodworking Power Tools – Taxonomy
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Valuable Insights into the Europe Woodworking Power Tools Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Europe Woodworking Power Tools market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the Woodworking Power Tools market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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