B2B E-commerce Marketplaces By Power Tools & Accessories Market Size Worth $15.11 Billion By 2028: Grand View Research, Inc.
Thursday, October 21, 2021
SAN FRANCISCO, Oct. 13, 2021 /PRNewswire/ -- The global B2B e-commerce marketplaces by power tools & accessories market size is projected to reach USD 15.11 billion by 2028, expanding at a CAGR of 18.1% from 2021 to 2028, according to a new report by Grand View Research, Inc. The outbreak of the COVID-19 pandemic is prompting both buyers and sellers to consider third-party digital channels to buy and sell power tools, thereby driving the growth of the market over the forecast period. Manufacturers of power tools primarily rely on direct sales via e-commerce websites and distributors for selling their products. However, the growing popularity of third-party marketplaces, such as Amazon.com and eBay, owing to various marketing and promotional strategies, such as high discounts and coupons, these marketplaces pursue are particularly proving lucrative for power tool manufacturers..
Key Insights & Findings:
-- The drills segment accounted for the largest market share in 2020 and is
expected to continue dominating the market over the forecast period. The
growth of the segment can be attributed to the easy availability of
sophisticated, lightweight drills featuring long-lasting batteries at
-- Amazon.com, Inc. is expected to gain a significant market share in terms
of revenue due to its large customer base
-- Asia Pacific, led by China, and North America, led by the U.S., are
expected to contribute significantly to the growing regional demand over
the forecast period. The growing customer bases of Alibaba and
Amazon.com, both of which allow buyers to purchase in bulk at discounted
prices, are expected to contribute to the growth of the two regional
Read 120 page market research report, "B2B E-commerce Marketplaces By Power Tools & Accessories Market Size, Share & Trends Analysis Report By Product (Drill, Saws, Wrenches, Grinders, Sanders), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
The sales of power tools witnessed single-digit growth in the B2B marketplaces in 2020. However, they are expected to grow significantly over the next seven years. Marketplaces, such as Amazon.com, eBay, and Alibaba.com, have gained significant popularity among buyers worldwide. Bulk discounts and contractual pricing have typically triggered a paradigm shift in the buyers' attitude toward these e-commerce marketplaces, which bodes well for the growth of the market over the forecast period.
The preference for DIY among individuals for home improvement activities is growing significantly, thereby encouraging e-commerce marketplaces to increase their Stock Keeping Units (SKUs) to cater to the rising demand for DIY tools. Home improvement activities typically call for power tools, such as power drills, circular saws, impact wrenches, hammer drills, and grinders. They can help individuals in various home improvement activities, such as roofing, kitchen and bathroom remodeling, and landscaping, among others. E-commerce marketplaces offer a wide range and options for buyers to choose the power tools of their choice. Various key functionalities, such as comparison of products on various parameters, coupled with transparency in features and prices are particularly encouraging buyers to prefer B2B e-commerce marketplaces over other channels, thereby contributing to the growth of the market over the forecast period.
Grand View Research has segmented the global B2B e-commerce marketplaces by power tools & accessories market based on product and region:
-- B2B E-commerce Marketplaces By Power Tools & Accessories Product Outlook
(Revenue, USD Million, 2017 - 2028)
-- B2B E-commerce Marketplaces By Power Tools & Accessories Regional
Outlook (Revenue, USD Million, 2017 - 2028)
-- North America
-- Rest of Europe
-- Asia Pacific
-- Rest of APAC
-- Latin America
-- Rest of Latin America
-- Middle East & Africa
List of Key Players of the B2B E-commerce Marketplaces By Power Tools & Accessories Market
-- Amazon.com, Inc.
-- eBay Inc.
-- Ferguson Enterprises, LLC.
-- IndiaMART InterMESH Ltd.
-- Quill Lincolnshire, Inc.
-- W.W. Grainger, Inc.
Browse through Grand View Research's coverage of the Global Next Generation Technologies Industry
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Follow Us: LinkedIn | Twitter
View original content:https://www.prnewswire.com/news-releases/b2b-e-commerce-marketplaces-by-power-tools--accessories-market-size-worth-15-11-billion-by-2028-grand-view-research-inc-301398827.html
SOURCE Grand View Research, Inc.
||Fortune 500 Leaders Join CTO Forum's RETHINK DIGITAL Six Series - Designing the Digital Transformation Flywheel Curriculum | Dec 4, 2021
||Insights on the IO-Link Global Market to 2030 - Opportunity Analysis and Industry Forecasts | Dec 4, 2021
||Absorb Software Recognized Among Top Learning Management Systems and Experience Platforms by Independent Research Firm | Dec 4, 2021
||Global Patient Engagement Solutions Market (2021 to 2026) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts | Dec 4, 2021
||Azcom Technology Announces Production-Ready Radar-Based Solution for Child Presence Detection (CPD) | Dec 4, 2021
||The Global Connected Device Analytics Market is Estimated to be $14.9 Bn in 2021 and is Forecasted to Reach $49.86 Bn by 2027, Growing at a CAGR of 22.3% | Dec 4, 2021
||Schneider Electric Launches Grids of the Future Lifecycle Management at Enlit Europe | Dec 4, 2021
||Cold Chain Monitoring Market worth $10.2 billion by 2026 - Exclusive Report by MarketsandMarkets(TM) | Dec 4, 2021
||Insights on the Process Spectroscopy Global Market to 2026 - by Technology, Component, Application and Region | Dec 4, 2021
||Digital Experience Platform Market size worth $ 43.43 Billion, Globally, by 2028 at 13.4% CAGR: Verified Market Research® | Dec 4, 2021