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Portable Tools Market: Expansion Strategies Set to Generate Substantial Revenue until 2026 | Key Players Like Akar Tools Ltd., Apex Tools Group, Atlas Copco AB, Channellock Inc., Danaher Corporation, etc.
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“Portable Tools Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2026” is a comprehensive source of information and insights for stakeholders not only in the portable tools landscape, but also in the broader industrial and residential tools landscape. The exhaustive study offers qualitative and quantitative insights, spread over 19 chapters and 426 pages. Market forecast is offered in terms of value (US$ Mn) and volume. Stakeholders in the portable tools market can expect a wealth of information, including but not limited to macro-economic analysis, market volume projections, impact analysis, historical analysis, comprehensive segment-wise forecast, market attractive index by segments, regional & country-wise outlook, and in-depth competitive profiling.
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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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 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 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.
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.
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