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US Power & Hand Tools Market

  • June 2014
  • -
  • Freedonia
  • -
  • 347 pages

US demand to rise nearly 3% annually through 2018

US demand for power and hand tools is forecast to increase nearly three percent annually through 2018 to $12.7 billion. Among professional users, growth will stem primarily from the recovering construction industry, which is being helped by a boom in housing starts. Additionally, the improved outlook for durable goods manufacturing and the expansion of the vehicle park will boost sales. Advances in the consumer market will be supported by the continued interest in do-it-yourself (DIY) activities. Increasing consumer spending and disposable incomes, as well as ongoing gains in the number of households, will also boost demand. However, the power and hand tool industry faces intense pricing competition from imported products, which will restrain value gains somewhat.

Demand for power tools to outpace hand tools

Through the forecast period, demand gains for power tools will outpace those for hand tools, a reversal from the 2008-2013 period. Specifically, electric tools will offer the best opportunity for growth, due to the fact that plug-in and cordless electric tools are widely used both by professionals and consumers. In addition, electric power tools withstand the most intense product innovation, which helps to entice users to up-grade older models with better performing versions. In contrast, product developments for hand tools are generally limited to ergonomic improvement, as the product category is better established and more mature.

Dominant professional market to grow the fastest

The professional market comprised the majority of power and hand tool demand in 2013, and will post faster gains through 2018. These trends reflect in part the greater concentration of expensive power tools in the professional market. Professionals are often willing to pay more for higher quality tools, since the initial investment will pay off over the long run through better performance and longer tool life. In addition, professionals tend to use tools on a daily basis and, as a result, must replace tools more frequently. In contrast, consumers, who are less frequent users of tools, are more likely to purchase tools based on price, and rarely require more expensive versions that use hydraulic or pneumatic power.

US shipments to trail demand due to import competition

Shipment gains of power and hand tools will trail those for demand through 2018, a reflection of intense import competition in the industry, although the significance of imported products varies by product segment. The largest sources of imported power and hand tools to the US in 2013 were China, Mexico, and Taiwan. Each of these countries offers favorable production costs compared to the US. However, there has been some effort from US-based producers to relocate some production back into the US; professional users are often willing to pay a higher premium for domestically produced tools that they perceive to be of higher quality compared to imports.

Study coverage

This upcoming industry study, Power & Hand Tools, presents historical demand data for 2003, 2008 and 2013, plus forecasts for 2018 and 2023 by product and market. The study also details market environment factors, evaluates company market share and profiles 40 US industry players, such as Apex Tool, Atlas Copco, Bosch, ITW, Makita, Senco, Snap-on Tools, and Stanley Black & Decker.

Table Of Contents

US Power and Hand Tools Market
TABLE OF CONTENTS

INTRODUCTION xi

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4
Macroeconomic Outlook 6
Personal Income and Expenditure Outlook 10
Demographic Outlook 13
Population 14
Household Formation and Housing Stock Outlook 17
Professional Employment Outlook 21
Construction Outlook 22
Residential Construction 24
New Housing 26
Improvement and Repair 29
Nonresidential Building Construction 31
Nonbuilding Construction 33
Motor Vehicle Outlook 35
Nonresidential Fixed Investment Outlook 39
Manufacturing Outlook 42

III. POWER and HAND TOOL OVERVIEW 47

General 47
Demand 48
Shipments 50
US Foreign Trade 52
Imports 54
Exports 57
World Outlook 59
Pricing Trends 61
Technology 62

IV. POWER TOOLS 65

General 65
Imports 68
Exports 69
Electric 71
Imports 74
Exports 76
Demand by Electric Power Source 78
Drills 81
Plug-In 83
Cordless 84
Foreign Trade 85
Saws 86
Circular Saws 88
Other Saws 89
Foreign Trade 90
Sanders, Polishers, and Grinders 91
Supply and Demand 91
Foreign Trade 95
Screwdrivers 96
Supply and Demand 96
Foreign Trade 97
Planers and Routers 99
Hammers 101
Other Electric Tools 103
Parts and Attachments 105
Pneumatic 109
Imports 111
Exports 113
Nailers and Staplers 115
Impact Wrenches 118
Drills and Screwdrivers 120
Percussion Tools 122
Sanders, Polishers, and Grinders 124
Other Pneumatic Tools 126
Parts and Attachments 127
Other Power Tools 129

V. HAND TOOLS 133

General 133
Imports 135
Exports 136
Hand Service Tools 138
Imports 140
Exports 142
Wrenches 143
Shipments by Type 145
Foreign Trade 147
Pliers 149
Specialized Automotive Tools 151
Screwdrivers 154
Hammers 156
Other 158
Edge Tools 160
Paint and Masonry Tools 161
Chisels 163
Axes, Adzes, and Hatchets 165
Hand Saws 167
Other Hand Tools 170

VI. MARKETS 173

General 173
Professional Demand 175
By Type 176
By Sector 178
Construction 179
Automotive Aftermarket 181
Industrial and Other Professional Services 183
Consumer Demand 185

VII. INDUSTRY STRUCTURE 189

General 189
Industry Composition 191
Power Tools 193
Hand Tools 193
Market Share 194
Power Tools 196
Hand Tools 200
Product Development 203
Manufacturing 205
Marketing 205
Private Labels 207
Distribution 208
Direct Sales and Distributors 210
Home Centers 212
E-Commerce 213
Other 214
Mergers, Acquisitions, and Divestitures 216
Cooperative Agreements 219
Company Profiles 222
Actuant Corporation 223
AIMCO Corporation 226
Allied Trade Group (ATG) Stores, see Lowe's Companies
Alltrade Tools LLC 228
AMES Companies, see Griffon
Ancor, see Power Products
Apex Tool Group LLC 231
Atlas Copco AB 236
Black and Decker, see Stanley Black and Decker
Bosch (Robert) GmbH 239
Channellock Incorporated 245
Chervon Holdings Limited 248
Chicago Pneumatic Tool, see Atlas Copco
Danaher Corporation 249
Daniels Manufacturing Corporation 251
Del City Wire, see Power Products
DEPRAG-Schulz GmbH and Company 253
DeWALT Industrial Tools, see Stanley Black and Decker
Duo-Fast, see Illinois Tool Works
EandR Industrial Sales, see Grainger (WW)
Eclipse Tools North America, see United Pacific
Industries
Emerson Electric Company 255
Enerpac, see Actuant
Estwing Manufacturing Company Incorporated 258
Gardner Bender, see Power Products
Grainger (WW) Incorporated 259
Great Neck Saw Manufacturers Incorporated 263
Greenlee Textron, see Textron
Griffon Corporation 265
Gustav Klauke, see Textron
Hilti AG 267
Hitachi Limited 271
Home Depot Incorporated 274
Hydratight, see Actuant
IDEAL Industries Incorporated 276
Illinois Tool Works Incorporated 279
Imperial Supplies, see Grainger (WW)
Ingersoll-Rand plc 282
IRWIN Industrial Tool, see Newell Rubbermaid
ITW Ramset, see Illinois Tool Works
JPW Industries Incorporated 285
Klein Tools Incorporated 287
Leatherman Tool Group Incorporated 290
LENOX, see Newell Rubbermaid
Lowe's Companies Incorporated 292
Mac Tools, see Stanley Black and Decker
Makita Corporation 296
Marinco, see Power Products
Matco Tools, see Danaher
Meier (Walter) AG 299
Milwaukee Electric Tool, see Techtronic Industries
Newell Rubbermaid Incorporated 300
One World Technologies Industries, see Techtronic
Industries
Panasonic Corporation 304
Paslode Construction, see Illinois Tool Works
Pneumatic Holdings, see Atlas Copco
Porter-Cable, see Stanley Black and Decker
Power Products LLC 306
Pratt-Read Tools, see IDEAL Industries
Proto Industrial Tools, see Stanley Black and Decker
Rapid-Torc, see Atlas Copco
Ridge Tool, see Emerson Electric
Saltus-Werke Max Forst, see Atlas Copco
Sears Holdings Corporation 309
Senco Brands Incorporated 312
Sherman and Reilly, see Textron
SIMPLEX, see Actuant
SK Hand Tools, see IDEAL Industries
Snap-on Incorporated 314
SPX Corporation 318
Stanley Black and Decker Incorporated 320
Stiletto, see Techtronic Industries
Techtronic Industries Company Limited 331
Tentec, see Atlas Copco
Textron Incorporated 336
TRUMPF Group 340
United Pacific Industries Limited 342
Wal-Mart Stores Incorporated 344
Western Forge, see IDEAL Industries
Other Companies in the US Power and Hand Tool Industry 346


LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY
Summary Table 3

SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Indicators 10
2 Personal Consumption Expenditures 13
3 Resident Population 17
4 Housing Stock by Type 20
5 Professional Employment 22
6 Construction Expenditures 24
7 Residential Building Construction Expenditures 26
8 Private Housing Starts 29
9 Residential Improvement and Repair Expenditures 31
10 Nonresidential Building Construction Expenditures 33
11 Nonbuilding Construction Expenditures 35
12 Motor Vehicle Indicators 39
13 Nonresidential Fixed Investment 42
14 Manufacturers' Shipments 46
SECTION III -- POWER and HAND TOOL OVERVIEW
1 Power and Hand Tool Supply and Demand 50
2 Power and Hand Tool Shipments by Type 52
3 Power and Hand Tool Foreign Trade 54
4 World Power and Hand Tool Demand 60
5 Price Deflators for Power and Hand Tools 62
SECTION IV -- POWER TOOLS
1 Power Tool Supply and Demand 67
2 Electric Tool Supply and Demand 74
3 Electric Tool Demand by Power Source 80
4 Electric Drill Supply and Demand 83
5 Electric Saw Supply and Demand 88
6 Electric Sander, Polisher, and Grinder Supply and Demand 94
7 Electric Screwdriver Supply and demand 97
8 Electric Planer and Router Supply and Demand 101
9 Electric Hammer Supply and Demand 103
10 Other Electric Tool Supply and Demand 105
11 Electric Tool Parts and Attachments Supply and Demand 108
12 Pneumatic Tool Supply and Demand 111
13 Pneumatic Nailer and Stapler Supply and Demand 118
14 Pneumatic Impact Wrench Supply and Demand 120
15 Pneumatic Drill and Screwdriver Supply and Demand 122
16 Pneumatic Percussion Tool Supply and Demand 124
17 Pneumatic Sander, Polisher, and Grinder Supply andDemand 126
18 Other Pneumatic Tool Supply and Demand 127
19 Pneumatic Tool Parts and Attachments Supply and Demand 129
20 Other Power Tool Supply and Demand 132
SECTION V -- HAND TOOLS
1 Hand Tool Supply and Demand 134
2 Hand Service Tool Supply and Demand 140
3 Wrench Supply and Demand 145
4 Pliers Supply and Demand 151
5 Specialized Automotive Tool Supply and Demand 153
6 Screwdriver Supply and Demand 155
7 Hammer Supply and Demand 157
8 Other Hand Service Tool Supply and Demand 159
9 Edge Tool Supply and Demand 161
10 Paint and Masonry Tool Supply and Demand 163
11 Chisel Supply and Demand 165
12 Ax, Adze, and Hatchet Supply and Demand 167
13 Hand Saw Supply and Demand 169
14 Other Hand Tool Supply and Demand 172
SECTION VI -- MARKETS
1 Power and Hand Tool Demand by Market 174
2 Professional Tool Demand by Type 177
3 Professional Tool Demand by Sector 179
4 Construction Demand for Power and Hand Tools 181
5 Automotive Aftermarket Demand for Power and Hand Tools 183
6 Industrial and Other Professional Demand For Power
and Hand Tools 185
7 Consumer Tool Demand by Type 188
SECTION VII -- INDUSTRY STRUCTURE
1 US Power and Hand Tool Sales by Company, 2013 192
2 Power and Hand Tool Demand by Distribution Channel 209
3 Selected Acquisitions and Divestitures 218
4 Selected Cooperative Agreements 220


LIST OF CHARTS

SECTION II -- MARKET ENVIRONMENT
1 Year of Construction of Housing Stock, 2013 20
SECTION III -- POWER and HAND TOOL OVERVIEW
1 Power and Hand Tool Imports by Source, 2013 57
2 Power and Hand Tool Exports by Source, 2013 59
SECTION IV -- POWER TOOLS
1 Power Tool Imports by Source, 2013 69
2 Power Tool Exports by Destination, 2013 70
3 Electric Tool Imports by Source, 2013 76
4 Electric Tool Exports by Destination, 2013 77
5 Plug-in and Cordless Electric Tool Share by Product, 2013 80
6 Electric Drill Imports by Source, 2013 86
7 Electric Saw Imports by Source, 2013 91
8 Electric Sander, Polisher, and Grinder Imports by Source, 2013 95
9 Electric Screwdriver Imports by Source, 2013 98
10 Pneumatic Tool Imports by Source, 2013 113
11 Pneumatic Tool Exports by Destination, 2013 115
SECTION V -- HAND TOOLS
1 Hand Tool Imports by Source, 2013 136
2 Hand Tool Exports by Destination, 2013 137
3 Hand Service Tool Imports by Source, 2013 141
4 Hand Service Tool Exports by Destination, 2013 143
5 Wrench Imports by Source, 2013 148
SECTION VI -- MARKETS
1 Power and Hand Tool Demand by Market, 2003-2023 175
SECTION VII -- INDUSTRY STRUCTURE
1 Power and Hand Tool Market Share, 2013 196
2 Power Tool Market Share, 2013 197
3 Hand Tool Market Share, 2013 201

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