Press release
Portable Tools Market Competitive Dynamics & Global Outlook 2018 to 2026
Market Definition
“Portable tools are defined as tools which can be carried by hand. These tools can be divided into non-powered portable (hand) tools and powered portable tools.”
European Agency for Safety and Health at Work’s document, “Safe Maintenance of Portable Tools in Construction. Powered portable tools include drill machines, compressed air guns, and circular saws; non-powered portable (hand) tools include screwdrivers, axes, and spanners.
Request Sample of This Report at https://www.factmr.com/connectus/sample?flag=S&rep_id=1576
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.
Note: The report offers comprehensive forecast and analysis on sub-segments in the portable tools market, including screw drivers, hammers, drills, impact wrenches, etc.
Key Findings
Direct co-relation between macroeconomic growth and portable tools sales
Portable tools sales are significantly impacted by macroeconomic factors, most notably, GDP, urbanization, economic growth, and industry value. According to OECD, world real GDP has shown a consistent surge since 2016, and the ascendancy is likely to be sustained in the long run. According to United Nations Department of Economics and Social Affairs, 68% of world’s population will live in urban areas by 2050, up from 55% currently. The direct co-relation between macroeconomic growth and portable tools sales is likely to augur well for the stakeholders in this market. The steadiness in automotive sales, especially in North America and Asia Pacific, and the long-term positive outlook on the automotive industry is likely to create opportunities for portable tool manufacturers. Growth in automotive sales directly impacts investments in repair and maintenance tools, especially among garage owners.
DIY trend complementing growth from traditional end users
DIY trend is steadily gaining ground, thanks to a range of factors ranging from doorstep delivery through e-commerce, free how-to content on popular video streaming sites, and conscious cost-cutting measures. Pursuing DIY projects as a hobby has also led to a surge in demand for portable tools in the residential segment.
Sustained demand from metal fabrication industry
Sustained demand from metal fabrication industry has traditionally offered support to global portable tools sales; the status quo is unlikely to change over the course of the forecast period. The metal fabrication industry is likely to maintain its y-o-y growth rate of over 2% in the long term. Demand for specialized tools that do not pose challenges in terms of inventory and storage overheads is likely to augur well for the growth of the market.
E-commerce offering greater visibility and reach
Availability of portable tools on e-commerce platforms has offered manufacturers new ways of reaching out to their target audience. Doorstep delivery, discounts, and detailed instructions on using portable products are key USPs of e-commerce sellers. The growing DIY ethic is also influencing online sales positively, as a significant percentage of first-timers look for specific information on instructions.
Regulations on occupational safety fuel adoption
Government mandates pertaining to occupational health safety continue to fuel adoption of personal protective equipment. The adoption is particularly impressive in industries where workers are at relatively higher risk. Increasing awareness on the importance of personal protective equipment, combined with growing preference towards efficient and low-maintenance products continue to induce momentum in the market.
Rising raw material costs and intense fragmentation continue to create challenges
Rising raw material costs are eating into the profit margins of portable tool manufacturers. The impact of rising raw material prices is widespread, as entire supply chains are plunged into uncertainty. Rising cost of nickel cadmium and mercury substitutes has had a mitigating effect on cordless power tools in particular. The challenges are compounded owing to the intense fragmentation in the portable tools market, with Asia Pacific in particular witnessing proliferation of new entrants.
Increasing automation in industrialized nations and lack of DIY ethic in emerging nations pose challenges
The next industrial revolution is underway, and entire processes and operational models are being transformed. Growing investments in automation have meant that spending on portable tools has dried up. While automation emerges as a key challenge for portable tool manufacturers in developed nations, lack of DIY ethic in emerging countries has led to fewer opportunities. Although the broader outlook on the portable tools market through 2026 remains positive, portable tools industry can face severe challenges when automation becomes pervasive.
Personal protection equipment (PPE) – top-selling portable tools globally
Personal protection equipment (PPE) is the most lucrative segment, with an estimated one-third revenue share of the market. Stringency in occupational safety regulations, combined with increasing awareness on the importance of worker safety are driving adoption of personal protection equipment among end users. Among the various types of PPE available in the market, demand is highest for foot and leg protection equipment. Power tools are the second largest category in terms of revenue share, driven by shifting preference away from hand tools. Impact drivers are the top-selling power tools, with impact wrench a close second.
Demand from industrial sector higher than commercial sector
Demand for portable tools from industrial sector is higher than commercial sector. Portable tools, such as power tools, personal protective equipment, and garage equipment witness higher demand in a range of industries. High demand for lighting tools and hand tools is witnessed among commercial and household & DIY users. The pace of adoption of new and innovative technologies is slower in commercial applications vis-à-vis industrial applications, owing to which the industrial segment is likely to maintain its lucrativeness in the long run.
Retail outlets largest sales channel, ‘online’ gaining market share
Online sales are eating into the revenue share of retail outlets and distributors, promoting the latter to make a foray into the e-commerce segment. Online sales growth is likely to be 1.2X than distributor sales. There are certain categories of products specifically suited to online sales. These include portable tools, lighting tools, and power tools. Although online channels have been well-received by end users in North America and Europe, emerging nations have significant growth potential.
EU5: the most lucrative market for portable tools globally
Europe has traditionally been a lucrative market for portable tools manufacturers. Steady demand from industrial sector, combined with growing adoption in landscaping and DIY projects has ensured a steady stream of opportunities. Demand for portable tools in Europe remains concentrated in EU5, and the scenario is likely to remain unchanged during the assessment period.
Competitive Landscape
Note: The report offers a more thorough analysis of all the companies operating in the portable tools market.
The portable tools landscape remains highly fragmented, with only a few market leaders accounting for significant revenue share. Considering the nature of the market, local players/regional players have a sizeable presence, especially in developing regions. Among the market leaders, Stanley Black & Decker, Inc. has nearly 6.5% to 7% market share from portable tools. Robert Bosch GmbH has nearly 4.7% to 5% revenue share from portable tools.
The competitive landscape section of the report includes information on market share by company, product strategy, business strategy, and go-to-market strategy, relative strength of markets across regions, including information on headquarters and major manufacturing locations.
Research Methodology
A thorough and comprehensive analysis was carried out to compile the research study on portable tools market. A combination of primary and secondary research methodologies, and data mining through our in-house proprietary tools is used to arrive at numbers and figures. In addition to these research methodology methods, information has also been sourced from corporate annual reports, product catalogs, SEC forms, and other company information.
The research report follows a systematic research approach that includes market profiling, formulation of discussion guides, development of list of respondents, data collection, data validation, analysis, and insights. The research methodology also includes identification of key opinion leaders, questionnaire design, and in-depth interviews. Our primary research sources include (but are not limited to) LinkedIn, Salesforce, Hoovers and OneSource. Secondary research is carried out through company websites, whitepapers, financial reports, and NMMA. The paid publications used for conducting research includes Factiva, GBI, Genios, Meltwater. We follow a three-step quality check procedure that involves triangulation of data, internal validation, and peer-review through independent thought leaders.
To know more about the research methodology employed to compile this report, you can get in touch with the author(s).
Report Analysis at https://www.factmr.com/report/1576/portable-tools-market
About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
Contact Us
FactMR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: www.factmr.com/
Follow Us on Linkedin: www.linkedin.com/company/factmr/
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Portable Tools Market Competitive Dynamics & Global Outlook 2018 to 2026 here
News-ID: 1257337 • Views: …
More Releases from Fact.MR
Non-Alcoholic Wine Market to Expand at 10% CAGR, Reaching $5.2 Billion by 2033
The global demand for non-alcoholic wine is predicted to grow at a 10% CAGR between 2023 and 2033. The global non-alcoholic wine market is currently valued at $2 billion and is expected to grow to $5.2 billion by 2033.
Increased demand for nonalcoholic wine in Middle Eastern nations like Kuwait and the UAE will drive market expansion. Athletes and pregnant women are the primary consumers of non-alcoholic wine. The health ramifications…
Personal Floatation Devices Market Soars, Expected to Hit US$ 8,014 Million by 2 …
The global personal floatation devices market is expected to be valued at US$ 3,178.7 million in 2022, growing at a CAGR of 9.7% to US$ 8,014 million by the end of 2032.
The personal flotation device market is transitioning from 'distributor-based' sales to direct-to-customer online channels. Catering to the needs of last-mile consumers is a profitable opportunity for manufacturers, and utilising online sales channels can help businesses capitalise on the emerging…
Paper Bottle Market Expected to Expand at 6.2% CAGR by 2033
The Paper Bottles Market is estimated to reach US $ 53.31 million by 2033, with a 6.2% growth rate during the forecast period.
Paper bottle sales are fast increasing, owing to both the growing need for alternatives to plastic bottles and the degradability and eco-friendliness of these containers. Paper bottle sales are expected to rise as demand for beverages rises and effective storage becomes more important.
Get Free Sample Copy of This…
Halloumi Cheese Market Surges Past US$ 1.2 Billion Mark by 2033, Fueled by 10.4% …
It is anticipated that halloumi cheese market will be valued at US$ 445 million in 2023 and surpass US$ 1.2 billion by the end of 2033. It is projected that the worldwide market for halloumi cheese will grow at an astounding rate of 10.4% CAGR till 2033.
Cyprus, a Middle Eastern nation, is the birthplace of halloumi cheese, which has been made there by local farmers for generations. Since this nation…
More Releases for Portable
ChillWell Portable AC
In the summer season, staying cool and strain-free is a completely essential venture for all people. Otherwise, you may need to be afflicted by sickness, contamination, and other fitness problems. Additionally, a warm ecosystem may additionally cause fatigue, headaches, and crankiness.
If you are staying cool then you can decline the temperature of the body and save you numerous health problems. Nowadays, the air cooling device has end up an…
Chilwell Portable AC
When you want a compact, lightweight, and transportable cooling option, you look for various products. Although many cooling structures are available inside the market, all are expensive. Without sturdiness and effectiveness, people throughout Canada, United States, and different areas need an powerful and sturdy cooling option to beat the heated days; they might be thrilled to know about ChillWell's cooling gadget. https://claimspecialdiscount.site/Chillwell
ChillWell Portable AC will quickly come to be…
Blast Portable AC Reviews 2021: Should I Buy Blast Auxiliary Portable AC?
Blast auxiliary Portable AC is an affordable, lightweight and efficient personal air conditioner that is capable of bringing the much desired relief we need during the summer. The blast auxiliary AC company has put in much effort to synthesize an efficient, compact and portable air conditioner that will fall within everybody's budget. Our blast portable AC reviews was composed to guide you make an informed decision as you search for the…
ChillBox Portable AC Reviews - Best Portable Air Conditioner 2021
ChillBox is the number one bestselling personal air cooler on the market in 2021 and has moved at hurricane speeds at positioning it as the number one mini desktop air cooler device.
Buy The Most Effective Portable Air Cooler For 2021 Here >> https://rebrand.ly/dyueui1
As temperatures all around the world continue to climb, it is no wonder ChillBox has become a must-have summer item to beat the seasonal heat when extreme…
Blast Auxiliary Portable AC 2021: Things To Know Before Buying Blast Portable AC …
Blast Auxiliary Portable AC Review-
Even though the hot summer weather is an excellent excuse to spend time outdoors, it is clear that the majority of us will soon be cooped up in our homes. Coupled with the fact that most national weather services predict a scorching summer, possibly one of the hottest in decades, the hot summer days would be unbearable unless you have air conditioning in your home. And…
Blast Auxiliary Portable Humidifier Reviews-Does Blast Auxiliary Portable AC Wor …
Every wintry weather, it’s the equal thing in our home. Coughs, colds, and problem sound asleep. I notion it become truely the season, however then I observed out approximately the awful results of dry air. As wintry weather temperatures drop and we use our furnaces and heaters, the air in our houses turns into drier and drier. Dry air can make a contribution to illnesses which includes cracked lips, irritated…
