The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Portable Power Tools market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Portable Power Tools
The report offers actionable and valuable market insights of Portable Power Tools. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Portable Power Tools Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Portable Power Tools, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Portable Power Tools Market.
Portable tools market continues to maintain its momentum on back of strong sales of personal protective equipment and power tools. The US$ 85 billion market is likely to show Goldilocks growth, with market revenues likely to grow by 1.4X between 2018 and 2028. These insights are according to a latest Fact.MR study that tracks the portable tools market in over seven regions and over 50 countries.
According to the report, the portable tools market continues to be highly fragmented, with a number of local and regional players accounting for miniscule revenue shares. Large corporations, such as Stanley Black & Decker, Inc. and Robert Bosch GmbH have single-digit market share from portable tools. The report finds that a large number of local and regional players cater to fixed categories of portable tools, with power tools and personal protection equipment among the top draws.
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Per unit cost of portable tools varies across product segments, with power tools and hand tools at the opposite ends of the spectrum. The price per unit is highest in Europe, owing to relatively higher demand for portable tools in the region. Per unit cost of power tool varies from US$ 70 to US$ 80 per unit in Europe – in South East Asia & Pacific, the cost per unit drops to US$ 55 to US$ 60.
The research study offers in-depth qualitative analysis on the key factors influencing the portable tools market. According to the report, consistent GDP growth is a key macroeconomic factor driving sales, whereas, automation of industrial processes has led to sluggishness. The report also analyzes the impact of urbanization and industrial growth on the portable tools market.
The steadily growing DIY trend in developed world is fuelling uptake of portable tools. The DIY ethic, combined with availability of portable tools on online platforms has broadened the reach of portable tools companies. To capitalize on the emerging opportunities in this segment, a number of manufacturers are offering free how-to content on e-commerce platforms.
The Fact.MR study finds that applications in metal fabrication will continue to create sustained demand for portable tools market during the course of the forecast period. The metal fabrication industry is on course to achieve growth rates of over 2% on a long-term perspective. The metal fabrication industry is showing a marked preference for specialized tools that reduce inventory and storage overheads.
According to the report, the long-term outlook on the portable tools market remains positive, however, challenges associated with intense fragmentation and fluctuating costs of raw materials persist. Considering the nature of the products, brand name and quality are often compromised with, especially in the DIY segment.
The report finds that personal protection equipment accounts for the largest revenue share in the global portable tools market. Personal protective equipment segment comprises a range of tools, including foot and leg protection, body protection, protective helmets, and foot and leg protection. Foot and leg protection remains the top selling category in the personal protective equipment segment.
The report further reveals that demand for portable tools from industrial users is higher than commercial users. Although portable tools have reached a new demographic of DIYers who are investing in landscaping, home decoration, and pursuance of hobbies, this end-use segment is bereft of high-volume sales.
Overall, the portable tools market remains on ascendancy, albeit one which is more muted and less spectacular. Market players are likely to witness opportunities and risks, and production innovation and low-pricing are likely to be critical factors in this market.
Portable Tools Market: Segmentation
The report offers market forecast and analysis on the basis of category, end use, sales channel, and region. The categories of portable tools analyzed in the study include hand tools, power tools, garage tools, lighting tools, and personal protective equipment (PPE). The end uses of portable tools have been analyzed in industrial, commercial, and household & DIY settings.
The key sales channels analyzed in the research report are distributor sales, retail outlets, and online sales.
The exhaustive market research study tracks the portable tools market across North America, Latin America, Europe, South East Asia and Pacific, Middle East & Africa (MEA), China, and Japan.
In addition to offering broader region-wise forecast, the research study also analyzes the market in key countries of US, Canada, Germany, France, U.K. Spain, Italy, India, Indonesia, and Malaysia.
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More Valuable Insights on Portable Power Tools Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Portable Power Tools, Sales and Demand of Portable Power Tools, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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