The global rotary hammer drill market size is anticipated to expand at a CAGR of 4% during the forecast period, 2021 – 2028. The growth of the market is attributed to the increasing preference for this product in household chiseling and drilling tasks.
Costumers are preferring rotary hammer drills over conventional equipment, as they provide strong force that can carve and break tiles, brick, concrete, and stones. Inflated rotary hammers uses compressed air to perform drilling movement. The presence of convenient and innovative wireless drill products are predicted to boost the product demand in the forthcoming years. These products can self-rotate and propel in backward and forward direction. They are powered by electric, pneumatic, or electro-pneumatic systems.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing growth in the construction industry worldwide is speculated to fuel the market growth.
- Rising popularity of DIY concept has helped in growth of the global rotary hammer market.
- Rapid growth of the construction sector in emerging economies such as China, India, and Philippines owing to the supportive government policies aimed at infrastructural development and urbanization is expected to play a key role in propelling the demand for rotary hammer drill for residential and commercial sectors.
- Home advancement industry has contributed a key role in expansion of rotary hammer market, which, in result, is likely to increase the market growth.
- Lack of awareness and knowledge about the usage of rotary hammer drill is expected to hamper the market growth during the forecast period.
- Growing investment in the R&D activities is speculated to present several opportunities in the coming years.
Scope of the Rotary Hammer Drill Market Report
The report on the global rotary hammer drill market includes an assessment of the market, trends, segments, and regional markets. Overview as well as dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Rotary Hammer Drill Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Products (Wired and Wireless), Applications (Residential and Commercial), and Distribution Channels (Online and Offline)
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Regional Scope
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Asia Pacific, Latin America, North America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Competitive Landscape, Size, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Robert Bosch Tool Corporation; Stanley Black and Decker, Hilti Makita; Wurth; TOYA S.A.; Makita; Hitachi Koki, Techtronic Industries Co. Ltd; Inc.; Porter-Cable, Indo-Spark Construction Services; and DEWALT.
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Global Rotary Hammer Drill Market Segment Insights:
Wireless segment to exhibit a high CAGR
Based on products, the market is divided into wired and wireless. The wired segment accounted for a large share of the market owing to increasing adoption of product in residential and commercial sectors due to its ability to drill fast at high voltage. Constant drilling without any speed fluctuation is crucial for commercial applications. The battery power can cause speed fluctuations whereas AC/DC current can provide amplified levels of power and runtime. However, the accessibility to advanced gadgets such as Bluetooth connected hammer drill machines that offer real-time drill data on mobile and laptop is expected to propel the growth of the wireless segment. Moreover, the inventions such as power cell technology is predicted to create new opportunities in the wireless segment during the forecast period.
Residential segment to account for a considerable market share
On the basis of applications, the market is segmented into residential and commercial. The commercial segment generated significant revenue owing to increasing application of rotary hammer drills in electrical and electronics shops, workshops, carpenter centers, and manufacturing units. Growing preference for the products that have features such high overload capacity and effective cooling are expected to propel the growth of the market segment. On the other hand, the residential application segment is projected to expand at a CAGR of 4.3% during the forecast period, 2021 - 2028. Increasing consumer preference for wireless products owing to light-weight and comfortable grips is expected to boost the growth of the residential segment.
Online Segment to expand at a robust CAGR
Based on distribution channels, the global rotary hammer drill market is divided into online and offline. The offline distribution channel accounted for a considerable market share in 2020 owing to high preference for customers to buy rotary hammer drills and other such equipment from retail stores due to easy after-service support. Moreover, manufacturing industries, government organizations, and corporate companies prefer direct tie-ups with retailers, as they need a wide range of power tools and accessories, which is propelling the growth of offline segment.
The online segment is anticipated to exhibit a high CAGR of 4.9% during the forecast period. Growing number of e-commerce portals that are providing discounted prices is anticipated to the spur the growth of offline segment. Services such as easy product replacement and doorstep delivery are projected to continue attract the customers. Major players such as Robert Bosch Tool Corporation and Hilti are using online channels to expand their market share.
North America to account for a major market share
In terms of regions, the market is classified into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America held a major market share of above 30% in 2020. Increasing consumer awareness regarding luxury home decor products is driving the market growth in the US and Canada. High-cost of labor is expected to drive the demand for lightweight rotary hammer drills for small household drilling requirements.
The market in Asia Pacific is projected to record a CAGR of around 5.2% from 2021 to 2028. Growing disposable income of middle-class population is predicted to drive the growth of the market in this region. Furthermore, growth of the home equipment market has contributed to substantial growth of the rotary hammer drill market in countries such as China, Japan, and India. China is the major consumer as well as manufacturer of rotary hammer drills in this region. Additionally, consumer awareness regarding DIY projects in aforementioned countries is boosting the regional market growth.
Segments
The global rotary hammer drill market has been segmented based on
Products
Applications
Distribution Channels
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Robert Bosch Tool Corporation
- Stanley Black and Decker
- Hilti Makita; Wurth
- TOYA S.A.
- Makita
- Hitachi Koki
- Techtronic Industries Co. Ltd; Inc.
- Porter-Cable
- Indo-Spark Construction Services
- DEWALT
Competitive Landscape
Major players competing in the global rotary hammer drill market include Robert Bosch Tool Corporation; Stanley Black and Decker, Hilti Makita; Wurth; TOYA S.A.; Makita; Hitachi Koki, Techtronic Industries Co. Ltd; Inc.; Porter-Cable, Indo-Spark Construction Services; and DEWALT.
Some of these businesses have involved in adopting numerous market strategies such as mergers & acquisitions, collaborations, partnerships, product launches, R&D activities to expand their global presence..
Tokyo-based power tools producer Hitachi Koki acquired Metabo. This achievement is expected to help Hitachi Koki gain access to the latter’s consumer base in Japan and India. The deal was valued at approximately USD 180 million.
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