Jobsite Radio Market To Witness A Pronounce Growth During To 2021 – 2031

North America is a high potential market for jobsite radios, with demand increasing from both, industrial and residential users. At present, North America holds the largest revenue in the global jobsite radio market, with the presence of over 2,500 home improvement stores selling jobsite radios. For instance, The Home Depot sells jobsite radios of established brands such as Milwaukee, DEWALT, Makita, Ryobi and RIDGID, whereas Lowe’s covers jobsite radio brands such as Naxa, SuperSonic, CRAFTSMAN, POTER CABLE, and others.

While the global market is in its growth phase in developed economies such as North America and Europe, it is in the introduction phase in South Asia and MEA due to limited manufacturers of jobsite radios and low budget allocation for workforce entertainment. To combat this, manufactures of jobsite radios are focusing on increasing their market penetration for long-term profits in unexplored regions.

As per a new report published by Fact.MR, the global jobsite radio market is anticipated to exceed a valuation of US$ 980 Mn in 2021, and is expected to expand at an impressive CAGR of around 8.5% over the forecast period of 2021 to 2031.

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Jobsite Radio Market- Scope Of Report:

A recent study by Fact.MR on the jobsite radio market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of jobsite radios.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing jobsite radios, along with their product portfolios, enhances the reliability of this comprehensive research study.

In-depth Analysis on Competitive Landscape:

The report sheds light on leading manufacturers of jobsite radios, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the manufacturing of jobsite radios has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

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Key Segments Covered In Jobsite Radio Market:

• By Additive
  • AC Powered Jobsite Radios
  • AC/DC Powered Jobsite Radios
    • 5V Max
    • 12 Max
    • 18 Max
    • 20 Max
    • 28 Max
• By End User
  • Jobsite Radios for Manufacturing Companies
  • Jobsite Radios for Woodworking Companies
  • Jobsite Radios for Construction Companies
  • Jobsite Radios for Residential Customers
  • Jobsite Radios for Mining
• By Sales Channel
  • Home Improvement Stores
  • Modern Trade/ Organized Hardware Stores
  • Online Retail
• By Region
  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Reports from Market Study:

• In 2020, one-third of global market revenue was generated solely by North America.
• AC/DC powered jobsite radios account for more than 90% global sales, and are utilised at large in North American countries.
• In 2020, North America and Europe together accounted for over 70% of the global market share. The European market is expected to offer over US$ 330 Mn absolute dollar opportunity over the next ten years.
• The jobsite radio market is highly concentrated, with companies such as DEWALT and Milwaukee Electric Tool Corporation holding around 33% of the global market share.
• In terms of sales channels, home improvement stores and online retailers held around 86% of the overall market share in 2020.
• By end user, globally manufacturing companies account for the largest market share of over 30%, followed by construction companies at around 20%.
• The market in South Asia is projected to expand at a CAGR of around 10%, offering an absolute dollar opportunity of around US$ 100 Mn from 2021 to 2031.
• Due to the COVID-19 pandemic, the market witnessed a growth rate of -2.7% in 2020.
• The market in the U.S. and U.K. is expected to expand at CAGRs of around 7% and 10%, respectively, while that in India and China at 11% and 12%, respectively, through 2031.

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