South Korea Power Tools and Accessories Market is valued approximately USD 1336.6 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.5 % over the forecast period 2021-2027. Power Tools and Accessories are used for the fitting purpose in the electric, engine-driven power, and pneumatic power devices. These tools include drills, screwdrivers, and router bits, abrasives wheels, saw blades, and chippers. The growing Automotive industry in South Korea has led the adoption of Power Tools and Accessories across the forecast period. For Instance: according to Statista in 2020, the automotive industry is expanding in South Korea. As per the source Hyundai produced approximately 1.6 million automobiles in 2020, an increase of 9.4% year over year. In terms of manufacturing volume, all South Korean automakers saw an increase over the previous year (2019). Whereas South Korea sold roughly 1.61 million vehicles in 2020, including passenger automobiles and commercial vehicles. Rising construction activities and smart cities projects enhances the market growth of power tools and accessories. Also, with the rapid urbanization, and major government initiatives towards the growth of the manufacturing units, the adoption & demand for Power Tools and Accessories is likely to increase the market growth during the forecast period. However, price fluctuations in the raw material impedes the growth of the market over the forecast period of 2021-2027.

The market growth of power tools and accessories in the geographical region of South Korea is expected to create beneficial hype owing to the factors such as rising automotive industries, increasing advancement and initiatives towards the electronics and construction industries, and increasing power tools innovations.

Major market player included in this report are:

Festool
METABO
Atlas Copco AB
Hilti Aktiengesellschaft
Husqvarna Group
Ingersoll-Rand Plc (Gardner Denver Holdings Inc.)
Klein Tools Inc.
Koki Holdings Co. Ltd. (KKR & Co. Inc.)
Makita Corporation
Robert Bosch GmbH

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Tools:
Drills
Impact drivers
Impact Wrenches
Screwdrivers and nutrunners
Others
By Accessories:
Drill Bits
Screwdriver Bits
Router Bits
Others
By Power Source:
Electric
Pneumatic
Others
By Mode of Operation:
Corded
Cordless
By Application:
Residential /DIY
Construction
Automotive
Others

By Region:

Asia Pacific
South Korea

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the South Korea Power Tools and Accessories Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Festool
METABO
Atlas Copco AB
Hilti Aktiengesellschaft
Husqvarna Group
Ingersoll-Rand Plc (Gardner Denver Holdings Inc.)
Klein Tools Inc.
Koki Holdings Co. Ltd. (KKR & Co. Inc.)
Makita Corporation
Robert Bosch GmbH