Surging Oscillating Tools Demand in Residential and Commercial Sectors to Steer Sales Past US$ 687.7 Million by 2032 - Benzinga

2022-07-30 06:16:34 By : Mr. yongwen xia

United States, Rockville MD, July 27, 2022 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global oscillating tool market size reached a valuation of US$ 417.3 million in 2022. With rising demand for oscillating tools from industrial, commercial, and residential sectors, the overall sales of oscillating tools are slated to rise at a CAGR of 5.1% between 2022 and 2032.

Oscillating tools are compact, portable power tools used to sand, cut, scrape, grind, and polish. These tools perform multi tasks and are being increasingly adopted across residential and industrial sectors for removing grout, cutting and finishing wood surfaces, trimming pipes and nails, cutting out openings in drywall, etc.

Over the years, demand for oscillating tools has risen at a steady pace and the trend is likely to continue during the forecast period. They are mainly used in the commercial sector on account of their attractive qualities such as compact design, lightweight, smooth operation, enhanced performance, long runtime, and quick changes of blades & attachments.

Oscillating tools enable end users to get precise and clean results. As a result, they have become highly sought-after equipment in woodworking factories. Similarly, growing adoption of oscillating tools in residential and DIY projects with advanced features will boost the market during the forecast period.

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Further, demand will remain mostly high for cordless oscillating tools owing to rising preferences for cordless oscillating tools due to their user-friendly nature and quick-change accessory system. As per the study, cordless oscillating tools segment is expected to capture around 42.2% market share in 2022.

Regionally, with around 23.3% share in 2021, North America will continue to remain at the top of the ladder in the global oscillating tool market through 2032. Growing trend of DIY, availability of customized products, rapid expansion of residential and industrial sectors are some of the key factors driving growth in North America market.

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Leading oscillating tool manufacturers are constantly launching new products to meet the surging demand. Besides this, they have adopted various organic and inorganic strategies such as partnerships, mergers, acquisitions, joint ventures, and establishment of new manufacturing facilities to gain a competitive edge in the market.

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In the latest study, Fact.MR offers a 360-degree view of the global oscillating tools market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the oscillating tools market through detailed segmentation as follows:

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Key Questions Covered in the Oscillating Tool Market Report

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