Adoption of Power Tools in Benelux: Current Trends and Market Forecast, 2016 - 2026
- Rep Id : XPLREP1625
- Published On : June, 2016
- No. of Pages : 122
- Category : Industrial Automation
- Publisher : Future Market Insights
A power tool utilizes a power source and mechanism, other than manual labor that is used for hand tools. Electric motors are the most common types of power tools. Such tools are used for construction, gardening, household tasks, drilling, cutting, shaping, sanding, grinding, routing, polishing, painting, heating and many other purposes. Power tools are categorized on the basis of power source into electric power operated tools (e.g. circular saws, drill machines); pneumatic power tools (e.g. jack hammers, chippers, and compressed air guns); liquid fuel (gas) powered tools (e.g. saws); hydraulic power tools (jacks), and powder-actuated tools (nail guns).
Benelux power tools market is anticipated to register healthy CAGR of 3.9% in terms of value and 2.2% in terms of volume over the forecast period (2016–2026). Growth of market is attributed to various factors, regarding which XploreMR offers detailed insights in this report.
Drivers and Trends
Growth of the power tools sales in Benelux is influenced by several macroeconomic and other factors such as rising investments in housing sector in Benelux, increasing automotive sales, increasing consumer confidence index, emergence of durable and cost-effective multi-functional power tools and growing online retail sales.
Key trends identified in the Benelux power tools market are rising consumer inclination towards power tools over hand tools, increasing sales of professional power tools, increasing penetration of Chinese products in Benelux market and move from corded to cordless tools.
On the basis of end use, the Benelux power tools market has been segmented into industrial power tools and household power tools. In terms of value, the industrial power tools segment has been projected to expand at a CAGR of 4.4% over the forecast period to account for 57.9% value share by 2026 end.
By mode of operation, the market has been segmented into electric power tools, pneumatic power tools and other power tools (including IC engine, steam driven and natural power source driven power tools). The electric power tools segment is expected to create significant growth opportunity over the forecast period. With increasing use in industrial applications, the pneumatic segment is expected to be the fastest growing both by value and volume, expanding at a value CAGR of 4.5% over the forecast period. The electric segment is estimated to account for 56.3% value share by 2016 end. The segment is slated to expand at volume CAGR of 2.1% over the forecast period.
Benelux Power Tools Market Snapshot (2015)
The market research report includes in-depth opportunity analysis of power tools market in Belgium, the Netherlands and Luxembourg. The Netherlands is projected to dominate the market throughout the forecast period. Belgium is expected to be the next major market after Netherlands with an estimated value share of 41.8% by 2016 end. Luxembourg power tools market is anticipate to hold minor share in overall Benelux power tools market. The market in Luxembourg is expected to be the fastest growing, expanding at a CAGR of 6.0% in terms of volume.
Some of the key global players included in the report are Stanley Black and Decker, Atlas Copco, Snap-On Incorporated, Robert Bosch GmbH, Techtronic Industries Co. Ltd., Danaher Corporation, Makita Corporation, Actuant Corporation, Hitachi Koki Co. Ltd. and SKF AB. Key players specific to Benelux region includes Metabowerke GmbH, FERM B.V., Einhell Germany AG and VIKING GmbH.