Portable Pressure Washers Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

Published: Jun 2022 Pages: 158 SKU: IRTNTR45321

The portable pressure washers market share is expected to increase to USD 408.96 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.27%.

This portable pressure washers market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers portable pressure washers market segmentation by distribution channel (offline and online), type (electric and engine-driven), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The portable pressure washers market report also offers information on several market vendors, including A.R. North America, Inc, Alfred Karcher SE and Co. KG, ANDREAS STIHL AG and Co. KG, ARPO BV, Briggs and Stratton LLC, Carigar Tools, Caterpillar Inc., Cheston, Deere and Co., FNA Group, Generac Power Systems Inc., Husqvarna AB, Hyundai Construction Equipment Co. Ltd., Lokpal Industries, Nilfisk AS, Positec Tool Corp., Robert Bosch GmbH, Snow Joe LLC, Stanley Black and Decker Inc., and Techtronic Industries Co. Ltd. among others.

What will the Portable Pressure Washers Market Size be During the Forecast Period?

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Portable Pressure Washers Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. Pressure washing helps in eradicating harmful bacteria, which notably drives the portable pressure washers market growth, although factors such as the high cost of pressure washing equipment may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the portable pressure washers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Portable Pressure Washers Market Driver

One of the key factors driving the global portable pressure washers market growth is that pressure washing helps in eradicating harmful bacteria. The outside houses and furniture accumulate dirt, grime, mildew, and other bacteria. Hence, portable pressure washers are required in cleaning them. Accumulated bacteria and microorganisms can cause severe diseases, particularly among small children and pets. Thus, regular maintenance and cleaning practices are imperative to get rid of these contaminations. In addition, the governments of various countries are taking steps to sanitize and clean polluted environmental conditions. As normal cleaning processes are not very effective and require more time. such factors will boost the demand for portable pressure washers during the forecast period.

Key Portable Pressure Washers Market Trend

Technology advances and increased product efficiency is one of the key portable pressure washers market trends that is expected to impact the industry positively in the forecast period. The vendors are continuously engaged in technology advances and increasing production efficiency to introduce new products such as electric washers. The electric pressure washers experience more adoption because they are lightweight, smaller in size, environment-friendly, need less maintenance, and are easy to use. Additionally, vendors are also launching versatile products that can wash every kind of surface with the help of different nozzles. For instance, Alfred Karcher SE and Co. KG offers High-Pressure Washer K 7 Premium Full Control, which is capable of washing and cleaning bicycles, gardening machines and tools, gardens, fences, small cars, and an external staircase. The launch of such products will further support the market growth in the coming years.

Key Portable Pressure Washers Market Challenge

One of the key challenges to the global portable pressure washers market growth is the high cost of pressure washing equipment. Key vendors are focusing on R&D to come up with innovative products, which requires investment. The washers comprise equipment such as a Vario power jet, dirt blaster, high-pressure hose reel and hose, detergent application via a plug-n-clean system, telescopic handle, water-cooled motor, soft bag, integrated water filter, and A3/4 garden hose connector adapter. The high cost of such equipment increases the total cost of production. In addition, in countries that have cheap labor, people do not prefer buying these gadgets. This is because the cost of getting a car washed manually for an entire year may be lower than the price of a basic pressure washer, which, along with operating and maintenance costs, will become even higher. Moreover, improper use and the lack of maintenance can lead to early failure of the equipment, which may hamper their demand in the forecast years.

This portable pressure washers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global portable pressure washers market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the portable pressure washers market during the forecast period.

Who are the Major Portable Pressure Washers Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • A.R. North America, Inc
  • Alfred Karcher SE and Co. KG
  • ANDREAS STIHL AG and Co. KG
  • ARPO BV
  • Briggs and Stratton LLC
  • Carigar Tools
  • Caterpillar Inc.
  • Cheston
  • Deere and Co.
  • FNA Group
  • Generac Power Systems Inc.
  • Husqvarna AB
  • Hyundai Construction Equipment Co. Ltd.
  • Lokpal Industries
  • Nilfisk AS
  • Positec Tool Corp.
  • Robert Bosch GmbH
  • Snow Joe LLC
  • Stanley Black and Decker Inc.
  • Techtronic Industries Co. Ltd.

 

This statistical study of the portable pressure washers market encompasses successful business strategies deployed by the key vendors. The portable pressure washers market is fragmented and the vendors are deploying growth strategies such as focusing on building brand equity to differentiate themselves from their competitors to compete in the market.

Product Insights and News

  • Briggs and Stratton LLC - The company offers portable pressure washer products such as Briggs and Stratton 1700 PSI electric-powered pressure washer.
  • Alfred Karcher SE and Co. KG - The company offers portable pressure washer products such as cordless pressure washer K 2.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The portable pressure washers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Portable Pressure Washers Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the portable pressure washers market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Portable Pressure Washers Market?

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39% of the market's growth will originate from North America during the forecast period. The US is the key market for portable pressure washers in North America. Market growth in this region will be faster than the growth of the market in South America.

The high preference for environment- and user-friendly products and the introduction of a wide range of products with versatile usage by vendors will facilitate the portable pressure washers market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The portable pressure washers market in North America witnessed a slight decline in 2020 due to the outbreak of COVID-19. However, in 2021, large-scale vaccination drives in countries such as the US and Canada reduced the number of daily COVID-19 cases in the region. Furthermore, in January 2021, the US president announced a COVID-19 stimulus package worth USD 1.9 billion to overcome the adverse effect of the pandemic on the US economy. Such steps will drive the growth of the regional portable pressure washers market during the forecast period since industries that are potential users of portable pressure washers are expected to resume their operations and exhibit significant growth.

What are the Revenue-generating Distribution Channel Segments in the Portable Pressure Washers Market?

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The portable pressure washers market share growth by the offline segment will be significant during the forecast period. Vendors are establishing strategic alliances with industrial machinery retail chains. They are also driving sales by implementing different marketing strategies. For instance, Deere and Co. have many clubs and owns retail stores to maintain its relations with major enterprises engaged in the regional distribution of industrial machinery, including portable pressure washers. The multiple benefits of shopping through the offline distribution channel will further support the market growth. Some of them are as follows: 

  • Convenience in terms of contacting the vendor and briefing on the functionality of the portable pressure washer 
  • Enormous stock-keeping units (SKUs) that allow end-users to choose from a wide variety of products and brands 
  • Availability of a wide variety of brands at multi-store retail units and dealers

This report provides an accurate prediction of the contribution of all the segments to the growth of the portable pressure washers market size and actionable market insights on post COVID-19 impact on each segment.

 

Portable Pressure Washers Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.27%

Market growth 2022-2026

$ 408.96 million

Market structure

Fragmented

YoY growth (%)

3.27

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 39%

Key consumer countries

US, China, Germany, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

A.R. North America, Inc, Alfred Karcher SE and Co. KG, ANDREAS STIHL AG and Co. KG, ARPO BV, Briggs and Stratton LLC, Carigar Tools, Caterpillar Inc., Cheston, Deere and Co., FNA Group, Generac Power Systems Inc., Husqvarna AB, Hyundai Construction Equipment Co. Ltd., Lokpal Industries, Nilfisk AS, Positec Tool Corp., Robert Bosch GmbH, Snow Joe LLC, Stanley Black and Decker Inc., and Techtronic Industries Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Portable Pressure Washers Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive portable pressure washers market growth during the next five years
  • Precise estimation of the portable pressure washers market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the portable pressure washers industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of portable pressure washers market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Distribution Channel

    • 5.1 Market segments
      • Exhibit 25: Chart on Distribution Channel - Market share 2021-2026 (%)
      • Exhibit 26: Data Table on Distribution Channel - Market share 2021-2026 (%)
    • 5.2 Comparison by Distribution Channel
      • Exhibit 27: Chart on Comparison by Distribution Channel
      • Exhibit 28: Data Table on Comparison by Distribution Channel
    • 5.3 Offline - Market size and forecast 2021-2026
      • Exhibit 29: Chart on Offline - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Data Table on Offline - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Chart on Offline - Year-over-year growth 2021-2026 (%)
      • Exhibit 32: Data Table on Offline - Year-over-year growth 2021-2026 (%)
    • 5.4 Online - Market size and forecast 2021-2026
      • Exhibit 33: Chart on Online - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Data Table on Online - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Chart on Online - Year-over-year growth 2021-2026 (%)
      • Exhibit 36: Data Table on Online - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Distribution Channel
      • Exhibit 37: Market opportunity by Distribution Channel ($ million)

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 38: Chart on Type - Market share 2021-2026 (%)
      • Exhibit 39: Data Table on Type - Market share 2021-2026 (%)
    • 6.2 Comparison by Type
      • Exhibit 40: Chart on Comparison by Type
      • Exhibit 41: Data Table on Comparison by Type
    • 6.3 Electric - Market size and forecast 2021-2026
      • Exhibit 42: Chart on Electric - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on Electric - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on Electric - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on Electric - Year-over-year growth 2021-2026 (%)
    • 6.4 Engine-driven - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Engine-driven - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Engine-driven - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Engine-driven - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Engine-driven - Year-over-year growth 2021-2026 (%)
    • 6.5 Market opportunity by Type
      • Exhibit 50: Market opportunity by Type ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 52: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 53: Data Table on Market share by geography 2021-2026 (%)
    • 8.2 Geographic comparison
      • Exhibit 54: Chart on Geographic comparison
      • Exhibit 55: Data Table on Geographic comparison
    • 8.3 North America - Market size and forecast 2021-2026
      • Exhibit 56: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 57: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 58: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 59: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 8.4 Europe - Market size and forecast 2021-2026
      • Exhibit 60: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 61: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 62: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 63: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 8.5 APAC - Market size and forecast 2021-2026
      • Exhibit 64: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 65: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 66: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 67: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 8.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 68: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 69: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 70: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 71: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 8.7 South America - Market size and forecast 2021-2026
      • Exhibit 72: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 73: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 74: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 75: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 8.8 US - Market size and forecast 2021-2026
      • Exhibit 76: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 77: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 78: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 79: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 8.9 Germany - Market size and forecast 2021-2026
      • Exhibit 80: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 81: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 82: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 83: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 8.10 China - Market size and forecast 2021-2026
      • Exhibit 84: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 85: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 86: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 87: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 8.11 UK - Market size and forecast 2021-2026
      • Exhibit 88: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 89: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 90: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 91: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 8.12 France - Market size and forecast 2021-2026
      • Exhibit 92: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 93: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 94: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 95: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 8.13 Market opportunity by geography
      • Exhibit 96: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 97: Impact of drivers and challenges in 2021 and 2026
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 98: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 99: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 100: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 101: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 102: Matrix on vendor position and classification
            • 11.3 Alfred Karcher SE and Co. KG
              • Exhibit 103: Alfred Karcher SE and Co. KG - Overview
              • Exhibit 104: Alfred Karcher SE and Co. KG - Product / Service
              • Exhibit 105: Alfred Karcher SE and Co. KG - Key offerings
            • 11.4 Briggs and Stratton LLC
              • Exhibit 106: Briggs and Stratton LLC - Overview
              • Exhibit 107: Briggs and Stratton LLC - Product / Service
              • Exhibit 108: Briggs and Stratton LLC - Key offerings
            • 11.5 Caterpillar Inc.
              • Exhibit 109: Caterpillar Inc. - Overview
              • Exhibit 110: Caterpillar Inc. - Business segments
              • Exhibit 111: Caterpillar Inc. - Key offerings
              • Exhibit 112: Caterpillar Inc. - Segment focus
            • 11.6 Deere and Co.
              • Exhibit 113: Deere and Co. - Overview
              • Exhibit 114: Deere and Co. - Business segments
              • Exhibit 115: Deere and Co. - Key news
              • Exhibit 116: Deere and Co. - Key offerings
              • Exhibit 117: Deere and Co. - Segment focus
            • 11.7 Generac Power Systems Inc.
              • Exhibit 118: Generac Power Systems Inc. - Overview
              • Exhibit 119: Generac Power Systems Inc. - Business segments
              • Exhibit 120: Generac Power Systems Inc. - Key news
              • Exhibit 121: Generac Power Systems Inc. - Key offerings
              • Exhibit 122: Generac Power Systems Inc. - Segment focus
            • 11.8 Hyundai Construction Equipment Co. Ltd.
              • Exhibit 123: Hyundai Construction Equipment Co. Ltd. - Overview
              • Exhibit 124: Hyundai Construction Equipment Co. Ltd. - Business segments
              • Exhibit 125: Hyundai Construction Equipment Co. Ltd. - Key offerings
              • Exhibit 126: Hyundai Construction Equipment Co. Ltd. - Segment focus
            • 11.9 Nilfisk AS
              • Exhibit 127: Nilfisk AS - Overview
              • Exhibit 128: Nilfisk AS - Business segments
              • Exhibit 129: Nilfisk AS - Key offerings
              • Exhibit 130: Nilfisk AS - Segment focus
            • 11.10 Robert Bosch GmbH
              • Exhibit 131: Robert Bosch GmbH - Overview
              • Exhibit 132: Robert Bosch GmbH - Business segments
              • Exhibit 133: Robert Bosch GmbH - Key news
              • Exhibit 134: Robert Bosch GmbH - Key offerings
              • Exhibit 135: Robert Bosch GmbH - Segment focus
            • 11.11 Stanley Black and Decker Inc.
              • Exhibit 136: Stanley Black and Decker Inc. - Overview
              • Exhibit 137: Stanley Black and Decker Inc. - Business segments
              • Exhibit 138: Stanley Black and Decker Inc. - Key news
              • Exhibit 139: Stanley Black and Decker Inc. - Key offerings
              • Exhibit 140: Stanley Black and Decker Inc. - Segment focus
            • 11.12 Techtronic Industries Co. Ltd.
              • Exhibit 141: Techtronic Industries Co. Ltd. - Overview
              • Exhibit 142: Techtronic Industries Co. Ltd. - Business segments
              • Exhibit 143: Techtronic Industries Co. Ltd. - Key offerings
              • Exhibit 144: Techtronic Industries Co. Ltd. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 145: Inclusions checklist
                • Exhibit 146: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 147: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 148: Research methodology
                • Exhibit 149: Validation techniques employed for market sizing
                • Exhibit 150: Information sources
              • 12.5 List of abbreviations
                • Exhibit 151: List of abbreviations
              • in manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.
                • slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.

                  Research Framework

                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                  INFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

                  • Industry journals and periodicals
                  • Government data
                  • Financial reports of key industry players
                  • Historical data
                  • Press releases

                  DATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

                  • Triangulation with data models
                  • Reference against proprietary databases
                  • Corroboration with industry experts

                  REPORT WRITING

                  Qualitative

                  • Market drivers
                  • Market challenges
                  • Market trends
                  • Five forces analysis

                  Quantitative

                  • Market size and forecast
                  • Market segmentation
                  • Geographical insights
                  • Competitive landscape

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                  Key Questions Answered

                  • What are the key global market and the regional market share?
                  • What are the revenue-generating key market segments?
                  • What are the key factors driving and challenging this market’s growth?
                  • Who are the key market vendors and their growth strategies?
                  • What are the latest trends influencing the growth of this market?
                  • What are the variables influencing the market growth in the primary regions?
                  • What are the factors influencing the growth of the parent market?

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