Power Tools Market: Electric Cordless Tools Gaining Traction: Global Industry Analysis and Opportunity Assessment, 2015-2025

  • Published: 2016-10-11
  • Report Code: REP-GB-760

An Incisive, In-depth Analysis on the Power Tools Market

This study offers a comprehensive, 360 degree analysis on the Power Tools market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Power Tools market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Demand for power tools is projected to increase at a compound annual growth rate (CAGR) of over 5% to US$ 36.2 Bn in 2020 and US$ 46.5 Bn in 2025. In contrast, hand tools market revenues are projected to witness growth rates of above 3%, as end-users show an increasing preference for power tools. The key trends expected to shape up the global power tools market include, 

  • Higher Demand for Lithium-ion Batteries vis-à-vis Ni-Cd

Lithium-ion batteries are becoming the preferred choice for power tools manufacturers, owing to their advantages over Ni-Cd batteries. Power tool companies are focusing on catering to end-user demand for lightweight and energy-efficient systems. Lithium-ion batteries offer these features at an economical cost, making them sought-after in the power tools industry.

  • Cordless Power Tools Gaining Popularity

Although cordless power tools are more expensive than their corded counterparts, ease of use and enhanced safety are making them popular, especially among DIYers. The demand for cordless power tools is anticipated to witness a steady increase during the forecast period, as adoption grows in developing countries.

  • Global Housing Sector Recovery

Demand for both hand and power tools is massively dependent on the fortunes of the construction sector. The subprime crisis of 2007-08 shrinked demand for hand and power tools; however, as global economy recovery and construction sector witnesses steady growth, demand for power tools is projected to remain strong during the forecast period.

  • Domination of China-manufactured Power Tools

Low price of China-manufactured power tools will continue to pose stiff competition to branded power tools. The domination of Chinese power tools of the global market is expected to continue during the forecast period. Currently, China accounts for nearly 80% of the total power tools produced globally. 

Global Power Tools Market Forecast & Analysis by Mode of Operation 

Approximately 200 million units of electric power tools were sold globally in 2015, a significant lead over 88 million pneumatic power tools. Although pneumatic power tools are expected to gain market share during the forecast period, electric power tools sales will dominate the global power tools market during the forecast period.

Power Tools by Mode of Operation (Mn Units)

Power Tool

2015

2025

CAGR

Electric

198.8

XX

XX

Pneumatic

XX

XX

XX

Others

XX

XX

XX

 (Concealed figures available in the report)

 Power Tools Market by End-use 

Demand for power tools can be widely categorised into industrial and household. The industrial segment is anticipated to remain the highest end-use sector for power tools during the forecast period. Demand is also expected to remain steady from the household segment owing to the growing DIY trend. During the forecast period 2015-2025, the industrial segment is expected to increase at 3.6% CAGR in terms of volume. 

Power Tools by End-use (Mn Units)

End-use Sector

2015

2025

CAGR

Industrial

XX

XX

3.60%

Household

XX

XX

XX

Others

XX

XX

XX

(Concealed figures available in the report)

Region-wise Analysis on Power Tools Market 

Asia Pacific excluding Japan (APEJ) remains the largest market for power tools globally. High production of power tools in China and India will continue to drive market growth, whereas exports to Western countries will add to the regional market revenues. In terms of volume, the APEJ power tools market was valued at 80.7 million units in 2015. 

Western Europe and North America are the other key markets for power tools, with EU5 and the U.S. dominating the market in these respective regions. The North America power tools market is projected to increase at a higher CAGR than Western Europe power tools market during the forecast period. Among all the regions, the market in Middle East & Africa is expected to increase at the highest CAGR during the forecast period. 

Power Tools by Region (Mn Units)

Region

2015

2025

CAGR

APEJ

80.7

XX

XX

North America

XX

XX

XX

Western Europe

XX

XX

XX

Eastern Europe

XX

XX

XX

Latin America

XX

XX

XX

Middle East & Africa

XX

XX

3.80%

Japan

XX

XX

XX

 (Concealed figures available in the report)

power tool market

Analysis on Leading Power Tools Companies 

The leading companies profiled in the report include Stanley Black & Decker Inc., Robert Bosch Gmbh, Techtronic Industries Company Limited, Actuant Corporation, Atlas Copco AB, Apex Tool Group LLC, Snap-on Incorporated, Allied Trade Group (ATG) Stores.

FMI study offers a 10-year forecast for the global power tools market between 2015 and 2025. The market is expected to register a CAGR of 5.4% during the projected period. The study demonstrates the market dynamics and trends in all the seven region that influence the current nature and future status of the power tools market over the forecast period.

Report Description

Future Market Insights report examines the global power tools market for the period 2015–2025. The primary objective of the report is to offer updates on the technological advancements made in the power tools industry and about the latest trends that are significantly transforming consumer experiences.

Power tool functions through the use of an external power source and mechanism, rather than by the manual labour as is the case with hand tools. By category, tools can be segmented into power tools and hand tools. Most common types of power tools are powered by electric motors. Power tools are used for construction, gardening, household tasks, drilling, cutting, shaping, sanding, grinding, routing, polishing, painting, heating and various other purposes. There are several types of power tools, based on the power source they use: electric power operated tools (e.g. circular saws, drill machines), pneumatic power tools (e.g. hammers, chippers and compressed air guns), liquid fuel (gas) powered tools (e.g. saws), hydraulic power tools (jacks), and powder-actuated tools (nail guns).

Revenue Split

FMI covers the power tools market performance in terms of global power tools revenue split, since this is detrimental to the growth of the power tools market. This section additionally includes FMI’s analyses of the key trends, drivers and restraints from the supply, demand and economy side, all factors influencing the power tools market. Impact analysis of key growth drivers and restraints, based on the weighted average model is included in the power tools report to better equip and arm clients with crystal clear decision-making insights.

Segmentation

We have segmented the power tools market based on their mode of operation as Electric, Pneumatic and Others. On the basis of end-use sector, we have segmented the power tools market as Industrial and Household. All these segments are included in this section to make the study more comprehensive.

Regions

The report highlights power tools sales by regions. It provides a market outlook for 2015–2025 and sets the forecast within the context of the power tools sales. This study discusses the key regional trends contributing to the growth of the power tools market on a worldwide basis, and analyses the degree to which global drivers influence this market in each region. Key regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan as a separate region, Middle East and Africa.

Methodology

All the sections, by end-use sector or by mode of operation or by regions, evaluate the present scenario and the growth prospects of the power tools market for the period 2015 –2025. We have considered 2014 as the base year and provide data for the trailing 12 months. 

To calculate the power tools market size, we have considered revenue generated from the sale of power tools. The forecast presented here assesses the total revenue by value across the power tools market. In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the power tools market will develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analyses, based on supply side, consumer spending and the economic envelope. However, forecasting the market in terms of various power tools segments, and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the power tools market. All the sub segments are analysed in terms of Basis Point Share (BPS) to understand individual segments’ relative contributions to market growth. This detailed level of information is important for the identification of various key trends prevalent in the power tools market.   

Another key feature of this report is the analysis of all key power tools segments, sub-segments and regional adoption and revenue forecast in terms of absolute dollars. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the power tools market. 

To understand key growth segments in terms of growth and adoption of power tools across regions, Future Market Insights developed the power tools Market Attractiveness Index. The resulting index should help providers identify real market opportunities.

Finally, , power tools market report includes the competitive landscape to provide the audiences with a Dashboard view, based on categories of providers in the value chain, presence in power tools product portfolio and key differentiators. Key categories of providers covered in the report are power tool manufacturers, distributors and DIY stores. This section is primarily designed to provide clients with an objective & detailed comparative assessment of key providers specific to a market segment in the power tools value chain. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on in-depth assessment of capabilities and success in the power tools marketplace. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the power tools market. Key competitors covered are Stanley Black & Decker Inc., Atlas Copco AB, Robert Bosch GmbH and Techtronic Industries Company Limited.

Key Segments Covered

  • By category
    • Power Tools
    • Hand Tools
  • By end-use sector
    • Industrial
    • Household
  • By mode of operation
    • Electric
    • Pneumatic
    • Others

Key Regions/Countries Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia-Pacific Excluding Japan (APEJ)
  • Middle East & Africa

Key Companies

  • Stanley Black & Decker Inc
  • Atlas Copco AB
  • Robert Bosch GmbH
  • Techtronic Industries Company Limited

Power Tools Market Reports - Table of Contents

Power Tools Market Reports - List of Tables

Table 01: Global Power and Hand Tools Market Value Forecast, By Driving Source, 2015–2025 (US$ Mn)

Table 02: Global Power Tools Market Value Forecast, By End-Use Sector, 2015–2025 (US$ Mn)

Table 03: Global Power Tools Market Value Forecast, By Mode of Operation, 2015–2025 (US$ Mn)

Table 04: Global Power Tools Market Value Forecast, By Regions, 2015–2025 (US$ Mn)

Table 05: North America Power Tools Market Value Forecast, By Country, 2015–2025 (US$ Mn)

Table 06: Latin America Power Tools Market Value Forecast, By Country, 2015–2025 (US$ Mn)

Table 07: Western Europe Power Tools Market Value Forecast, By Country, 2015–2025 (US$ Mn)

Table 08: Eastern Europe Power Tools Market Value Forecast, By Country, 2015–2025 (US$ Mn)

Table 09: Asia Pacific Power Tools Market Value Forecast, By Country, 2015–2025 (US$ Mn)

Table 10: Middle East & Africa Power Tools Market Value Forecast, By Country, 2015–2025 (US$ Mn)

Power Tools Market Reports - List of Figures

Figure 01: Global Power and Hand Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 02: Global Power and Hand Tools Market Y-o-Y Growth (%), 2014–2025

Figure 03: Global Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 04: Global Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 05: Global Hand Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 06: Global Hand Tools Market Y-o-Y Growth (%), 2014–2025

Figure 07: Global Power and Hand Tools Market Value Share, By Driving Source (%), 2015 & 2025

Figure 08: Global Power Tools Industrial Segment Market Value Forecast (US$ Mn), 2014–2025

Figure 09: Global Power Tools Industrial Segment Y-o-Y Growth (%), 2014–2025

Figure 10: Global Power Tools Household Segment Market Value Forecast (US$ Mn), 2014–2025

Figure 11: Global Power Tools Household Segment Y-o-Y Growth (%), 2014–2025

Figure 12: Global Power Tools Market Value Share, By End-Use Sector (%), 2015 & 2025

Figure 13: Global Power Tools Market Attractiveness Index, By End-Use Sector

Figure 14: Global Electric Tools Segment Market Value Forecast (US$ Mn), 2014–2025

Figure 15: Global Electric Tools Segment Market Y-o-Y Growth (%), 2014–2025

Figure 16: Global Pneumatic Tools Segment Market Value Forecast (US$ Mn), 2014–2025

Figure 17: Global Pneumatic Tools Segment Market Y-o-Y Growth (%), 2014–2025

Figure 18: Global Other Tools Segment Market Value Forecast (US$ Mn), 2014–2025

Figure 19: Global Other Tools Segment Market Y-o-Y Growth (%), 2014–2025

Figure 20: Global Power Tools Market Value Share, By Mode of Operation (%), 2015 & 2025

Figure 21: Global Power Tools Market Attractiveness Index, By Mode of Operation

Figure 22: Global Power Tools Market Regional Analysis Market Value (US$ Mn), 2015–2025

Figure 23: North America Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 24: North America Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 25: Latin America Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 26: Latin America Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 27: Western Europe Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 28: Western Europe Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 29: Eastern Europe Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 30: Eastern Europe Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 31: Japan Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 32: Japan Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 33: Asia Pacific Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 34: Asia Pacific Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 35: Middle East & Africa Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 36: Middle East & Africa Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 37: US Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 38: US Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 39: Canada Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 40: Canada Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 41: Brazil Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 42: Brazil Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 43: Mexico Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 44: Mexico Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 45: Rest of Latin America Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 46: Rest of Latin America Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 47: Latin America Power Tools Market Value Share, By Country (%), 2015 & 2025

Figure 48: Germany Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 49: Germany Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 50: BENELUX Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 51: BENELUX Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 52: France Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 53: France Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 54: Spain Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 55: Spain Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 56: Italy Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 57: Italy Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 58: Nordic Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 59: Nordic Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 60: UK Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 61: UK Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 62: Rest of Western Europe Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 63: Rest of Western Europe Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 64: Western Europe Power Tools Market Value Share, By Country (%), 2015 & 2025

Figure 65: Russia Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 66: Russia Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 67: Poland Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 68: Poland Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 69: Rest of Eastern Europe Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 70: Rest of Eastern Europe Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 71: Eastern Europe Power Tools Market Value Share, By Country (%), 2015 & 2025

Figure 72: China Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 73: China Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 74: India Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 75: India Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 76: Australia & New Zealand Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 77: Australia & New Zealand Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 78: ASEAN Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 79: ASEAN Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 80: Rest of Asia Pacific Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 81: Rest of Asia Pacific Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 82: Asia Pacific Power Tools Market Value Share, By Country (%), 2015 & 2025

Figure 83: GCC Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 84: GCC Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 85: North Africa Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 86: North Africa Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 87: South Africa Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 88: South Africa Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 89: Rest of Middle East & Africa Power Tools Market Value Forecast (US$ Mn), 2014–2025

Figure 90: Rest of Middle East & Africa Power Tools Market Y-o-Y Growth (%), 2014–2025

Figure 91: Middle East & Africa Power Tools Market Value Share, By Country (%), 2015 & 2025

Figure 92: Global Power Tools Market Value Share, By Regions (%), 2015–2025

Figure 93: Global Power Tools Market Attractiveness Index, By Regions

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Harish Tiwari

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Pranay Mhaisekar

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