Global Rotary Drill Market Insights
The global rotary drill market is estimated to grow at a moderate CAGR during the forecast period. Increasing popularity of the product as power tool equipment for drilling tasks and household chiseling is expected to propel the market growth during the forecast period. Furthermore, fast growing construction sector in developing economies such as India, China, and Philippines is among the major factors expected to positively influence the growth of rotary drill market. Moreover, favorable government policies aimed at urbanization and infrastructural development are some of the other factors expected to play a major role in driving the demand for rotary drills from commercial and residential sectors. Growing demand for lightweight rotary drills has been propelling the adoption of technologically advanced products, especially by the middle class population. Factors such as increase in demand for metals and minerals, growth in the construction of tunnels, roads, and railways, along with expansion of existing mines is expected to further drive the rotary drill market.
Rotary Drill Market: By Product Type
The global rotary drill market can be segmented on the basis of product type into corded rotary hammer drill, and cordless rotary hammer drill among others. Wired rotary drill is expected to dominate the market of rotary drill in terms of product type. Wired rotary drill finds its application in commercial and residential segments because of its ability to drill fast at high voltage. Furthermore, increased demand for continuous drilling without any speed fluctuation for commercial applications is expected to further propel the demand for wired rotary drill product. However, wireless rotary drill segment is expected to grow at highest CAGR during the forecast period. Increased spending on trendy gadgets is expected to drive the adoption of wireless products. Furthermore, technological advancements such as development of Bluetooth connected rotary drill machines among others is expected to propel the demand for wireless rotary drill.
Rotary Drill Market: By Application
The rotary drill market is segmented on the basis of application into commercial and residential. Commercial segment is expected to generate highest revenue, and is also estimated to dominate the market of rotary drill. Increased demand for rotary drills by electrical and electronics shops, carpenter centers, manufacturing units, and workshops among others are anticipated to propel the commercial segment growth. Increasing preference for products such as long life of carbon brush, high overload capacity, and effective cooling due to the integrated slots is expected to further spur the market growth. Residential segment is expected to grow at moderate CAGR during the forecast period. Rising consumer preference for wireless products because of the convenient usage, lightweight, and comfortable grips is further anticipated to drive the growth of household segment during forecast period.
Rotary Drill Market: By Sales Channel
The market for Rotary Drill is segmented on the basis of sales channel into online and offline. Offline segment is expected to generate largest revenue in 2018, and is also expected to dominate the market on the basis of sales channel. High preference for local convenience stores because of easy after service support is driving the market of offline sales. However, online sales are expected to grow at highest CAGR during the forecast period. Fast growing e-commerce industry along with increasing number of e-commerce portals with discounted prices is one of the major factors expected to propel the online sales channel for rotary drills market. Furthermore, easy product replacement along with door step delivery is anticipated to attract more customers.
Rotary Drill Market: Regional Insights
On the basis of region the market for rotary drill is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America. North American market for rotary drill is expected to generate highest market share in terms of both value and volume. The U.S. is anticipated to dominate the rotary drill market in the North American region. Increasing consumer awareness regarding luxury home décor products with aesthetic appeal is one of the major factors expected to drive the market of rotary drill in North America. Asia Pacific market is estimated to grow at highest CAGR during the forecast period. Increasing disposable income of middle class population is anticipated to further propel the spending on household power tool equipment. China is expected to dominate the market of rotary drill in Asia Pacific region, followed by Japan, India, and South Korea.
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to Rotary Drill in the coming years. Some companies currently using rotary drill and are likely to purchase it in future are Rio Tinto, BHP, Vinci, Grupo ACS, and Glencore among others.
Rotary Drill: Market Share & Competitor Analysis
Some of the key players operating in the Rotary Drill market are Robert Bosch Tool Corporation, Hilti Makita, Stanley Black and Decker, Inc., Indo-Spark Construction Services, Porter-Cable, Wurth, TOYA S.A., Techtronic Industries Co. Ltd (TTI), DEWALT, and Makita among others.
In September 2019, Stanley Black & Decker announced that they have been recognized as the Global Sustainability Leader on 2019 Dow Jones Sustainability Indices
In February 2013, Robert Bosch Tool Corporation and Ram Truck Brand announced at 39th annual World of Concrete trade show that they have entered into a strategic U.S. partnership agreement