Adoption of Benelux Power Tools Market Demand, Research Insights by 2032

The adoption of Benelux power tools witnessed a moderate growth rate of 4.1% CAGR and is estimated to foresee a Y-O-Y growth of 5.3% in 2022. However, with growing trend of do-it-yourself and increasing adoption of cordless power tools by end users, the overall market is set to grow at a CAGR of 4.5% between 2022 and 2032.

Power tools are those that are activated by a mechanism and power source other than just hands-on manual labor. Because of the increased accuracy, speed, and efficiency offered by these tools, end users' overall productivity has significantly increased.

Electric power tools will continue to be the most popular power tools by mode of operation, with 5.8 million units anticipated to be shipped in 2016, up from 5.7 million units in 2015. However, due to their small size and generally lower cost, pneumatic power tools, also referred to as air tools, will continue to grow in popularity among do-it-yourselfers.

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Demand for power tools will continue to be strong from the construction sector, as Benelux's housing sector witnesses another year of relative stability. The real estate sector in Benelux wasn't as severely impacted by the crash of 2007-08, as it did not participate in the 'bubble' preceding the crash.

Growth of the Benelux power tools market will also be supported by rising adoption in the Union's automotive sector. While availability of durable and cost-effective power tools will drive overall demand, the growing DIY trend will ramp up adoption in the consumer segment. Increasing penetration of Chinese products is also expected to play an important role in driving sales in 2016 and beyond.

Netherlands will continue to be the largest market for power tools in Benelux, with total volume expected to reach 5.5 million units in 2016. The Netherlands power tools market is expected to be worth US$ 470.0 million by 2016-end, witnessing a growth rate of 3.7% in 2016 over 2015. Belgium, the second largest market for power tools in Benelux, will witness total sales worth 359.2 million in 2016.

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.

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Key Players:

Robert Bosch GmbH, Atlas Copco AB, and Makita Corporation are the key global players in the Benelux power tools market. The key strategy of these players is enhancing product portfolio by manufacturing convenient, high-performance and advanced technology equipment. Metabowerke GmbH, FERM B.V., and Einhell Germany AG are prominent local players in the Benelux power tools market. Strong distribution networks and low cost are the go-to strategies of these players to compete with global players operating in Benelux power tools market.

Key Segments Covered in Adoption of Benelux Power Tools Market Analysis
By Mode of Operation:
• Electric
• Pneumatic
• Others

By End Use:
• Industrial
• Household

By Country:
• Belgium
• Netherlands
• Luxembourg

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.