According to this latest publication from Meticulous Research®, the global power tools market is projected to reach $57.1 billion by 2031, at a CAGR of 5.6% from 2024–2031. The power tools market's growth is driven by advancements in battery technology, increasing activities in the construction industry, and increasing use of power tools in the automotive sector. However, fluctuations in raw material prices restrain the growth of this market.

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