BENELUX POWER TOOL MARKET ANALYSIS

Benelux Power Tool MarketSize and Trends

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)

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.