"Overview of Rotary Hammer Drill market"
The Rotary Hammer Drill market is forecasted to reach at US$ 5.3 Bn by 2027, growing at a CAGR of 4.2 % between 2019-2027.
The global Rotary Hammer Drill market has shown moderate growth and is anticipated to gain traction in coming years. Some of the factors fuelling the growth of global market includes growing construction sector, supporting government initiatives aimed at enhancing infrastructural development, and rapid urbanization in emerging economies.
Advantages Associated with Rotary Hammer Drills are Anticipated to Propel the Market Growth
The rotary hammer drills offer several advantages over traditional hammer drills which is making it preferable across the globe. These products are light in weight and provide more impact energy than hammer drills. The rotary hammer drills are able to drill by self-rotation and make forward and backword movement which minimizes the human intervention. these products consume lesser energy and time in drilling process as compared to its other counterparts. The rotary hammer drills create strong force to chisel and break brick, stone, concrete, and titles. As a result, it a huge adoption has been registered for these products from construction sector.
However, higher cost associated with rotary hammer drills as compared to other hammer drills might hamper the market growth at a minimal extent.
Based on Product Type, Wired Segment Accounted for Maximum Share in 2018
On the basis of product type, wired rotary hammer drills are anticipated to lead the global market throughout the forecast period. These products are able to drill faster at a high voltage which is resulting in surging demand for these products in commercial and residential sector. These products have ability to perform the drilling operation without any fluctuation in voltage or speed which is the essential parameter in commercial sector.
Moreover, the wired segment is projected to witness robust growth during the forecast period. These hammer drills are used for small hole drills up to 0.5 inch in masonry materials. The growth of the segment is fuelled by introduction of advanced gadgets. Additionally, continuous advancement in these products such and addition of several features such as Bluetooth connectivity is expected to widen the growth scope for the segment.
Offline Distribution Channels Led the Global Market by Accounting for Largest Market Share
Based on distribution channels, the offline segment occupied largest market share and anticipated to lead the global market throughout the forecast period. The growth of the segment can be credited to high preference to convenience stores for buying rotary hammer drills among large consumer base. The offline stores offer post sale services which makes it preferable among consumers. Additionally, manufacturing industries and government entities are focused on establishing tie-ups with manufacturers which is expected to poise a positive impact on the segment growth.
On the other hand, online channels are expected to witness robust growth during the forecast period. Online distribution channels are associated with several features such as home delivery, easy returns & exchange policy, and huge discounts which is making it popular in different regions.
Commercial Segment is Estimated to Dominate the Global Market Whereas the Residential Segment is Expected to Witness Rapid Growth Throughout the Forecast Period
Based on application, the residential segment is anticipated to gain momentum in coming years. This is mainly due to advanced features associated with these hammers such as speed adjustment according to the requirement, comfortable grips, and convenient usage. Moreover, the rising popularity of wireless drills among households is anticipated to favour the segment growth.
Furthermore, the commercial segment led the global market by occupying substantial share in 2018. Rising adoption for these products in manufacturing units, electronic and electric shops, workshops, and carpenter centres is expected to drive the growth of rotary hammer drill market in commercial sector.
North America Held Prominent Share in 2018 and Anticipated to Lead the Global Market Throughout the Forecast Period
By geography, North America is anticipated to lead the global rotary hammer market throughout the forecast period. The growth of the region is majorly fuelled by rising popularity of luxury home décor products in Canada and U.S. Moreover, high labour cost in the region is expected to surge the demand for lightweight hammers for small drilling needs.
On the other hand, Asia Pacific is estimated to grow rapidly in coming years. China is one of the largest producers for rotary hammer drills. The rising home equipment sector is expected to widen the scope for regional growth. Moreover, the rising prominence of DIY projects in Asian region is anticipated to fuel the reginal growth.
Key players operating in global Rotary Hammer Drill market include DEWALT, Robert Bosch Tool Corporation, Techtronic Industries Co. Ltd, Hilti Makita, TOYA S.A., Stanley Black and Decker, Inc., Wurth, Porter-Cable, and Indo-Spark Construction Services.
Global Rotary Hammer Drill Market by Product Type
Global Rotary Hammer Drill Market by Distribution Channel
Global Rotary Hammer Drill Market by Application
Global Rotary Hammer Drill Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America