Cordless Router Market Forecast and CAGR
According to latest research by Fact.MR, cordless router market is set to witness gradual growth during assessment period of 2021-2031. Manufacturing techniques are developing and people are inclined towards adopting the techniques that are easy to implement. Power tool and equipment industry being a billion-dollar industry is expected to see a rise of more than 9% CAGR over next 10 years.
What is Driving Demand for Cordless Router?
Manufacturing has been the pillar for development in the world and portable devices are easy to carry and use devices that can be carried anywhere for the designed task.
Cordless routers help to create slots in the material which can be used for varied purposes. They are relatively new in the market and are an improved version of conventional tools available. With cord being absent in such devices, they are easy to handle and maneuver over complicated patterns.
With the advancement in battery technology and lithium-ion batteries being more powerful and light in weight, the use of such devices is feasible. Increasing Industrialization and developments in industries such as the electric vehicle industry, aerospace industry acts as drivers for the demand for power tools and cordless routers.
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Covid-19 Impact on Global Cordless Router Market
Covid-19 has deeply affected the global economy with degradation of business profoundly. The pandemic disrupts the supply chain and destructed the equilibrium. Covid-19 has imposed nationwide lockdown owing high infection rate which may had adverse health issues over the widely scattered consumer base.
Global trade and manufacturing industries positioned across the globe was muted resulting to pull off in the annual revenue bar significantly. This indeed has affected the personalized dog collar business evidently and portrayed negative impact on the overall business growth.
However, an increasing trend for DIY repairs and modifications in the home improvement has been seen during the pandemic outbreak. People are inclined towards learning the home improvement techniques and methods as they do not prefer to invite other people to their house owing to nature of infection. Hence, demand for such convenient tools like cordless routers and others has seen an increase from domestic users.
Manufacturers has identified the opportunity and are coming with innovative, easy to use, safe and ergonomic products for inexperienced people. More people are adopting use of such products learning the use from internet sites such as Youtube.
Global Cordless Router Market Geographical Outlook
Cordless routers are a type of power tool that are used to create a slot in the material typically metal or wood. As stated in its name, it is devoid of power cable; battery is the source of power in such devices. Advancements in the field of Li-Ion batteries have made the feasibility of such tools a viable option. The absence of a power cord makes it easier to maneuver the device in complicated patterns.
North America is the largest market for power tools and cordless routers is expected to hold the position in the forecast period. Increasing demand for home improvement products and tools, rising adoption lightweight Li-Ion battery-operated tools, innovative tools offered by manufacturers to cater to customized requirements; makes the demand for cordless routers grow in the coming decade.
Asia Pacific region is expected to see a surge in demand for Industrial Power tools and cordless routers as countries like China and India are witnessing high growth, markets with high consumption due to rising economy and population, and those with increasing industrial and manufacturing techniques have started to provide competition to developed counterparts in global manufacturing owning to cheap labor prices. The increase in demand to be expected in APAC market is estimated to be 13% CAGR over the next 10 years.
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Who are the Key Manufacturers of Cordless Router?
The leading manufacturers such as
- Robert Bosch
- Stanley Black & Decker
- Techtronic Industries Company (TTI)
- Ingersoll Rand
fulfils a significant demand of the power tools in various markets.
The rising investment in R&D Sector has led to development of technology which is boosting the demand of cordless routers. Moreover, development in field of Li-ion batteries, brushless motors, DIY activities, and precision manufacturing acts as catalyst for increasing demand.
Cordless Router Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
An Adaptive Approach to Modern-day Research Needs
By Tool Types
- Material Removal Tools
- Drilling & Fastening Tools
- Sawing and Cutting Tools
- Routing Tools
- Demolition Tools
By Industrial Use
By Sales Channel
- Retail stores
- Direct Sales
- Third Party E-Commerce Sales
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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