China Power Tools & Hand Tools Market expanding at a 6.7% CAGR from 2021 to 2028
China Power Tools & Hand Tools Industry Overview The China power tools and hand tools market size was valued at USD 7.53 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028. In terms of volume, the market is projected to reach 224.7 million units by 2028. The growth can be attributed to growing domestic consumer spending on construction, the rising popularity of Do-It-Yourself (DIY) and Do-It-for-Me (DIFM) for home improvement, and a notable rise in infrastructure development projects under the One Belt One Route (OBOR) initiative. Additionally, rapid industrialization and the surge in the number of construction projects in Guangdong, Jiangsu, and Zhejiang provinces could also bode well for the market growth over the assessment period. Gather more insights about the market drivers, restrains and growth of the China Power Tools & Hand Tools Market The Chinese power tools and hand tools market faced a decline in s...