1. Market Research
  2. > Home and Office Goods
  3. > Home Goods
  4. > DIY and Garden Equipment Market Trends

World Power Tools Market

  • January 2015
  • 407 pages
  • Freedonia
Report ID: 1104565

Summary

Table of Contents

World demand to rise 4.8% annually through 2018

Worldwide demand for power tools is forecast to increase 4.8 percent per year through 2018 to $32.9 billion, an improvement from the gains that were recorded during the 2008-2013 period. Advances will be fastest in the world’s developing areas, where there is expected to be significant and increasing amounts of construction spending. In particular, areas in the process of modernizing their housing stock, such as China and India, will register especially rapid power tool demand gains. Among developed nations, power tool sales will be boosted by the projected economic rebound and the improving construction activity throughout much of Western Europe and the US.

China, India to be fastest growing power tool markets

In 2013, the US was the world’s largest consumer, and second largest producer, of power tools. The US, alone, will account for approximately one-sixth of additional global sales between 2013 and 2018. This is a significant market because the country is home to substantial construction, manufacturing, and motor vehicle industries, with each utilizing a significant amount of power tools. In addition, there is widespread interest in do-it-yourself (DIY) activities, resulting in a sizable consumer power tool market. China, the second largest single country consumer of power tools in 2013, will achieve faster growth and account for one-quarter of additional global sales through 2018. However, India will post the fastest power tool sales gains between 2013 and 2018, albeit from a very small base. Both countries have an extremely low market penetration for power tools, with more widespread purchases limited by the high initial purchase price of power tools compared to non-powered hand tools. Poverty and unreliable electric grid also play a role, particularly in rural areas. However, this low base creates a large pool of potential power tool users, which will fuel demand.

Cordless electric power tools to grow the fastest

Electric tools account for the vast majority of total power tool sales, benefiting from their widespread use across the professional and consumer markets. In addition, cordless electric models will post the most robust growth in through 2018. Steady improvements in cordless battery technology, such as the adoption of lithium-ion batteries, has increased the power and run time of cordless tools. Power tool producers have also begun to design an entire line of tools around one battery structure, which increases convenience by reducing the number of spare batteries needed at the job site or around the home.

Construction spending to fuel key professional market

The professional market for power tools accounts for the larger share of global sales compared to the consumer market. The intensity of product use varies from country to country, as power tools face varying degrees of competition with hand tools depending on factors such as a country’s level of industrialization, rate of construction spending, and the cost of labor. Advances for professional power tool sales will be bolstered by the solid, and sometimes accelerating, growth in construction spending through the forecast period. In the developed world, market penetration is much higher so more purchases are replacement and upgrade transactions. In the consumer
market, power tools growth is tied more closely to personal spending levels and cultural preferences.

Study coverage

This upcoming study, World Power Tools presents historical demand data (2003, 2008, 2013) plus forecasts (2018, 2023) by product, electric power source, market, world region, and for 25 countries. The study also considers market environment factors, evaluates company market share and profiles 35 global industry players.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Power Tool - Global Market Outlook (2017-2023)

  • $ 4157
  • Industry report
  • June 2017
  • by Stratistics MRC

According to Stratistics MRC, the Global Power Tool Market is accounted for $29.63 billion in 2016 and is expected to reach $46.21 billion by 2023 growing at a CAGR of 6.5% during the forecast period. ...

Global Chainsaw Safety Equipment Market 2017-2021

  • $ 3500
  • Industry report
  • June 2017
  • by Infiniti Research Limited

About Chainsaw Safety Equipment A chainsaw is a mechanical power-driven cutting portable tool, which aids lumberjacks in the felling of trees; the sharp and quick operation of a chainsaw reduces the effort ...

Global Leaf Blower Market 2017-2021

  • $ 3500
  • Industry report
  • April 2017
  • by Infiniti Research Limited

About Leaf Blower Leaf blower is a cleaning equipment used to blow dry leaves off the roads, tracks, fields, and other such areas to keep them free of leaf litter. Technavio’s analysts forecast the global ...


ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.