MarkNtel Advisors recently published a report, titled, ” Latin America Power Tools Accessories Market By Product Type (Drill Bits, Drivers, Grinders, Sanders, Saws, Wrenches, Batteries & Chargers, Cutters & Brushes, Others (Machine Accessories, Chisels, etc.)), By Power Source (Electric Power Tools (Corded, Cordless), Pneumatic Power Tools, Hydraulic Power Tools), By Application (Industrial (Automotive, Construction, Aerospace & Defense, Energy, Others (Marine, etc.)), Residential),. As per as the report The Latin America Power Tools Accessories Market is expected to grow at a moderate CAGR during the forecast period, i.e., 2022-27.
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Growth Restraint: Price Fluctuations of Raw Materials and High Costs of Power Tools
Steel & aluminum, the most prominent raw materials used for manufacturing power tools & accessories, are usually imported from other countries and thus witness cost fluctuations due to exchange rates & market volatility. As a result, recurring flux in their prices significantly impacts the sales of power tools, which can act as a major growth restraint for the power tools accessories market in the near future.
Moreover, the high ownership & maintenance costs of power tools & accessories pose another challenge to the overall market growth in the coming years. With the integration of electronic circuits, motors, & batteries in power tools, their prices have drastically surged across the globe. In addition, rigorous usage, high exposure to dust, & heavy-duty operations cause frequent wear & tear of power tools and, in turn, their expensive maintenance & repair, i.e., another challenge to the Latin America Power Tools Accessories Market growth over the forecast years.
Leading Companies in Latin America Power Tools Accessories Market:
Atlas Copco, Hilti Corporation, Enerpac Tool Group, Emerson Electric, Koki Holdings Co., Ltd., Makita Corporation, Robert Bosch GmbH, Snap-on Incorporated, Stanley Black & Decker, and Techtronic Industries.
Latin America Power Tools Accessories Market Segmentation:
By Product Type
-Drill Bits
-Drivers
-Grinders
-Sanders
-Saws
-Wrenches
-Batteries & Chargers
-Cutters & Brushes
-Others (Machine accessories, Chisels, etc.)
By Power Source
-Electric Power Tools
-Corded
-Cordless
-Pneumatic Power Tools
-Hydraulic Power Tools
By Application
-Industrial
-Automotive
-Construction
-Aerospace and Defense
-Energy
-Others (Marine, etc.)
-Residential
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By Country
-Mexico
-Brazil
-Argentina
-Columbia
-Chile
-Peru
-Rest of Latin America.
Key questions answered in the Latin America Power Tools Accessories Market are:
•What is Latin America Power Tools Accessories Market?
•What was the market size in 2023?
•What is the growth rate of the Latin America Power Tools Accessories Market?
•Which are the factors expected to drive the market growth?
•What are the different segments of the Latin America Power Tools Accessories Market?
•What segments are covered in the Market?
•Who are the key players in the Latin America Power Tools Accessories Market?
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