A power tool that is operated by an additional power source and mechanism and is used for performing mechanical operations. Power tools are segmented as pneumatic, electric, and hydraulic, of which electric tools are most commonly used. Power tools are used for performing a variety of applications namely such as drilling, gardening, construction, household tasks, cutting, shaping, grinding, sanding, polishing, heating, beating, and more. Electric power tools are actuated by electricity and are either battery-powered or corded. Cordless drill, hammer drill, band saw, rotatory hammer, table saw, heat gun, jigsaw, miter saw, dust extractors, etc. are some of the common electric power tools in different operations.
The Benelux power tool market is estimated to account for US$ 1200.00 Million in terms of value by the end of 2022 and is expected to grow at a CAGR of 4.2% during the forecast period (2023-2030)
Benelux Power Tool Market: Regional Insights
Figure 1: Benelux Power Tool Market Share (%), By Region, 2022
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The global market is divided into several regions, namely North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Among these regions, Asia Pacific has emerged as the leading and rapidly expanding market. The demand for power tools in this region correlates with the ongoing industrialization, infrastructure development, and urbanization trends. Furthermore, the presence of numerous China manufacturers who offer competitively priced tools has contributed to market growth. Additionally, India is anticipated to experience substantial market growth in the foreseeable future.
Benelux Power Tool Market - Impact of Coronavirus (COVID-19) Pandemic
COVID-19 has negatively impacted all industries including automotive, infrastructure, manufacturing, and others. To combat the COVID-19 pandemic, India imposed a lockdown, which impacted the manufacturing of power tools, and manufacturing plants were temporarily shut down. Moreover, the reduction in the labor workforce in the manufacturing sector led to a decrease in production rates, which impacted market growth.
The imposed lockdowns have also hindered home maintenance, construction, gardening, and repair services, all of which rely heavily on power tools. This has an impact on the demand for power tools, which are a variety of mechanical tools that can only be operated by a power source and not manually.
However, with the gradual easing of lockdown measures, the power tools market has started to recover. The demand for power tools is now being driven by the increasing adoption of automation in the manufacturing sector, infrastructure development, and the growing Residential trend among consumers. For instance, in June 2022, Minister of Road Transport and Highways opened 15 national highway projects worth US$ 1.7 billion in Bihar, India. In March 2021, the Indian government inaugurated the first section of the Delhi-Mumbai Expressway. Thus, such projects are increasing the demand for power tools post-pandemic.
Benelux Power Tool Market- Drivers:
Increasing Demand for Industrial Tools in the Construction Industry
The construction industry’s increasing demand for industrial power tools is driven by the need for efficiency, productivity, safety, specialization, and adherence to quality standards. As construction activities continue to expand, the demand for these tools is expected to grow further. The construction industry is witnessing significant infrastructure development in India. For instance, in October 2021, the Dubai government signed a contract with the Indian government to build infrastructure in Jammu and Kashmir including industrial parks, IT towers, multipurpose towers, logistics centers, medical colleges, and specialized hospitals. Projects such as roads, highways, towers, bridges, railways, airports, and smart cities require a wide range of power tools for various tasks, including drilling, cutting, fastening, and measuring. The need for these tools is directly linked to the growth and expansion of the construction sector. The construction industry places a strong emphasis on safety. Power tools equipped with safety features and ergonomic designs help reduce the risk of accidents and injuries on construction sites.
Increasing Automotive Sales
Power tools are widely used in automobile manufacturing. The automotive industry is seeing global growth and profits, which is fueling demand for power tools. For instance, according to Coherent Market Insights’ analysis, in India, the sale of passenger vehicles in November 2022 was 276,231, and for November 2021 was 215,626 which shows a 28.1% growth. Growing demand for consumer electronics with more functionality and higher performance is influencing semiconductor manufacturers to focus on developing faster ways to provide end-use goods with the use of more power tools, which is expected to drive the Benelux power tools market growth over the forecast period.
Benelux Power Tool Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2022: | US$ 1200 Mn |
Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 4.2% | 2030 Value Projection: | US$ 1,662.9 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Robert Bosch GmbH, Stanley Black & Decker, Inc., Makita Corporation, KPT Industries Ltd., Koki Holdings Co., Ltd., Ralli Wolf, Jiangsu Dongcheng Power Tools Co., Ltd., Ingersoll Rand India, Fixtec, Kseibi Tools, and Others |
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Growth Drivers: |
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Restraints & Challenges: |
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Benelux Power Tool Market- Opportunities:
Advancement of Power Tools
The rapid expansion of the construction industry is a major element affecting Benelux power tool market growth. Key players are developing both corded and cordless tools that construction workers can use in a variety of situations. In the construction industry, cordless tools are often favored over corded ones. Small and mid-sized manufacturing enterprises will embrace these technologies due to their flexibility and ability to give productive solutions to their clients. Moreover, market players are launching cordless tools. For instance, on January 12, 2023, Bosch Power Tools, A leading german power Tool manufacturer the Power Tools Division of the Bosch Group, launched 32 new 18V Cordless tools.
Market Players Focusing On Online Sale and E-Commerce Platforms
Key market players are working on online and e-commerce channels to enhance power tool sales and strengthen their market position. Power tool manufacturers such as AcDelco, Airpro Pneumatics India Pvt. Ltd., Fuji, Atlas Copco, Ingersoll Rand, Makita Corporation, and others are increasing their presence in the India market by utilizing e-commerce platforms such as Flipkart Amazon, Ubuy India, Indiamart, eBay, Industry Buying, and others. As a result, demand for power tools is predicted to increase in response to the increasing prevalence of e-commerce platforms, which creates additional potential for market players to reach the maximum number of consumers in India.
The Benelux Power Tool Market was valued at US$ 1200.00 Mn in 2022 and is forecast to reach a value of US$ 1,662.9 Mn by 2030, exhibiting a CAGR of 4.2% between 2023 and 2030.
Benelux Power Tool Market- Trends:
Development of Multi-Purpose Products and Their Accessories to Lay the Foundation for Future Growth
Energy-efficient power tool equipment with innovative technologies is being developed by companies such as Robert Bosch Tool Corporation, Atlas Copco Ab, Ingersoll Rand India, and others. Industry leaders are also working to develop multi-purpose devices such as brushless motors with Bluetooth connectivity that can be utilized precisely.
For instance, Makita Corporation is a leading manufacturer of cordless and corded tools. Makita Corporation’s product portfolio offers cordless power multi tools of 18v and 12v, which includes accessories that can be used for sanding, scraping, and grinding. Moreover, market players are launching multi-purpose tools.
For instance, in January 2022, Robert Bosch GmbH, a multinational engineering and technology company, launched Dremel 8260 cordless multi-tool that features a brushless motor coupled with Bluetooth connectivity.
Sustainable Power Tools
Manufacturers who have their presence in India are becoming more sustainable by increasing their efforts. In order to prevent end-of-life batteries from going to landfills and to guarantee that they are recycled appropriately, certain power tool manufacturers now have programs which is designed to collect customer batteries.
For instance, in 2021, Stanley Black & Decker, a manufacturer of industrial tools and household hardware, and Eastman, a chemical industry company, partnered to create a new line of sustainable power tools made with material created from recycled single-use plastic bottles and put in fully recyclable packaging. The companies decided to release a new product line, Reviva, offering the brand’s first sustainability-led power tools. Thus, in October 2022, Stanley Black & Decker, Inc. launched the first phase of the sustainably led power tool line “Reviva”. The Product was designed for Residential Use to complete an array of do-it-yourself (Residential) projects.
Benelux Power Tool Market- Restraints:
Noise Control
Power tools generate noise and regulations may specify maximum noise levels or require the provision of hearing protection. Manufacturers may be required to provide noise ratings and implement noise reduction measures in their designs.
Product Testing and Certification
Power tool manufacturers are often required to subject their products to rigorous testing to ensure compliance with safety standards. Independent testing laboratories or certification bodies may be involved in verifying the safety of power tools.
Figure 2: Benelux Power Tool Market Share (%), By Mode of Operation, 2022
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Benelux Power Tool Market- Segmentation:
Global Benelux Power Tool Market report is segmented into By Product Type: Tool Type (Drilling and Fastening Tools (Drills, Wrenches, etc.), Sawing and Cutting Tools (Reciprocating Saws, Band Saws, etc.), Routing Tools (Routers/Planers), Others (Sanders, Hammers, etc.)), Accessories and Consumables
By Mode of Operation: Fixed/Corded, Cordless
By Distribution Channel: Online Sales, Offline Sales
By End User: Industrial, Commercial, and Residential
Benelux Power Tool Market: Key Developments
In February 2022, Makita Corporation launched a cordless lawn mower lineup with two new models powered by two 18V LXT 5.0Ah batteries XML10CT1 – 36V (18V X2) LXT 21” Lawn Mower Kit, XML11CT1 – 36V (18V X2) LXT 21” Self-Propelled Lawn Mower Kit \
In January 2022, Makita Corporation continued the expansion of the 40V | 80V max XGT System by launching nine new products. The nine new XGT releases span across trades and applications including outdoor power equipment, concrete, fastening, and lighting.
In September 2021, Makita Corporation launched 18V LXT Brushless ½” Right Angle Drill, (XAD05Z), and 18V LXT Brushless 7/16” Hex Right Angle Drill equipped with a brushless motor and LXT 5.0Ah Battery, 18V LXT Brushless 5” Dry/Wet Masonry Saw, (XCC01Z), 18V LXT Sub-Compact Brushless StarlockMax Multi-Tool
In January 2020, Makita Corporation introduced DRV150Z and DRV250Z rivet guns in the market. These rivet guns are designed for heavy-duty industrial applications. The rivet guns are compatible with 5Ah and 6Ah LXT batteries.
Benelux Power Tool Market: Key Companies Insights
Benelux Power Tool Market is highly competitive, owing to the rising launch of new technologies due to ongoing R&D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on a regional as well as global basis. Some of the key players are Robert Bosch GmbH, Stanley Black & Decker, Inc., Makita Corporation, KPT Industries Ltd., Koki Holdings Co., Ltd., Ralli Wolf, Jiangsu Dongcheng Power Tools Co., Ltd., Ingersoll Rand India, Fixtec, Kseibi Tools
*Definition: A power tool refers to a handheld or stationary mechanical device that is powered by electricity, battery, or compressed air to perform various tasks and operations with less manual effort. Power tools are widely used in construction, woodworking, metalworking, automotive, and other industries, as well as for DIY (do-it-yourself) projects.
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About Author
Ramprasad Bhute is a Senior Research Consultant with over 6 years of experience in market research and business consulting. He manages consulting and market research projects centered on go-to-market strategy, opportunity analysis, competitive landscape, and market size estimation and forecasting. He also advises clients on identifying and targeting absolute opportunities to penetrate untapped markets.
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