AFRICA POWER TOOLS MARKET ANALYSIS

Africa Power Tools MarketSize and Trends

The Africa power tools market is estimated to account for US$ 7322.2 Mn in terms of value by the end of 2027.

Africa held dominant position in the Africa power tools market in 2019, accounting for 68.4% share in terms of value, followed by GCC.

Figure 1: Africa Power Tools Market Share (%), in terms of Value, By Country, 2019

Figure 2: Africa Power Tools Market Value (US$ Mn), 2017 - 2027

The Africa power tools market was valued at US$ 4465.5Mn in 2019 and is forecast to reach a value of US$ 7322.2 Mn by 2027 at a CAGR of 6.3% between 2020 and 2027.

Market Trends

1. Professional segment is expected to witness the fastest growth in the near future

In the professional segment, expensive powers have witnessed higher penetration with professionals willing to pay more for advanced tools. To a large extent, demand for power and hand tools by professionals has increased as a result of new housing construction projects, household renovations, public investment, and private investments. By 2025, the volume of construction is expected to grow by 70% to reach US$ 15 Trn worldwide. Meteoric growth is likely to be concentrated in three countries namely China, the U.S., and India, with these countries accounting for approximately 60% of the Africa growth.

2. Rising product development initiatives is another major trend

Many companies in the market are focused on research and development activities of new products, processes, and methodologies, in order to enhance tool strength, durability, and other ergonomic factors. Development of Lithium-ion battery technology is proving to be a major breakthrough. For instance, Hitachi Koki Co. Ltd introduced the series 36V cordless gardening tools along with highly energy-efficient brushless motors.