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.
Power tools are tools that use an additional power source and mechanism to perform different types of maintenance and manufacturing jobs. Depending on the mode of actuation, power tools are classified as pneumatic tools, electric tools, and hydraulic tools. Pneumatic tools are those that are driven by compressed air, which is usually supplied through an air compressor. These tools can also be powered by compressed carbon dioxide. Air ratchet, jackhammers, pneumatic drills, blow guns, air sanders, etc. are some of the commonly used pneumatic power tools. Other power tools are chainsaw, & lawn mowers, leaf blowers, etc. .
Benelux Power Tool Market: Drivers
Increasing Demand for Industrial Tools in the Construction Industry
Different construction projects require specific tools designed for specialized applications. For instance, concrete cutters, diamond blades, demolition hammers, and power drills are essential for tasks like concrete drilling, cutting, and demolition. The increasing diversification of construction projects drives the demand for specialized industrial power tools that cater to specific requirements. In May 2022, Makita Corporation, a manufacturer of power tools, expanded the 40V | 80V max XGT System with the announcement of 19 new products. The 19 new XGT products have applications in residential construction and others.
Benelux Power Tool Market: Opportunities
Advancement of Power Tools:
In order to track tools and equipment, Modern power tools come equipped with intelligent capabilities such as built-in Bluetooth connectivity and the capability to synchronize with smartphone applications. Inventory management and missing or stolen equipment recovery are both made possible by tool tracking using tracking tags. Through a smartphone app, connectivity may collect user information and let consumers change various settings.
Benelux Power Tool Market: Restraints
Competition from Unorganized Sector in the Power Tool Market:
The unorganized sector consists of small-scale and local manufacturers who often produce low-cost, low-quality tools that compete with established and organized manufacturers. These unorganized players operate with minimal regulation and may not adhere to quality and safety standards. This creates a challenging competitive landscape for organized manufacturers who invest in R&D, quality control, and brand building. The presence of cheaper, substandard tools from the unorganized sector can lead to price pressures and hinder the growth of organized manufacturers.
Market Trends
Improved Safety and Ergonomics
Power tool manufacturers have been focusing on improving ergonomic features such as comfort grips, user-friendly controls, anti-vibration technology, and more compact and lightweight designs to make them safer, simpler, and more comfortable to operate. To enhance safety, advanced mechanisms like Active Torque Control (ATC) devices are implemented in power tools. These devices automatically stop drill rotation in the event of a bit jam, reducing the risk of accidents. Additionally, safety systems such as onboard Dust Reduction (DR) systems are employed to collect dust that may contain hazardous silica. Furthermore, power tools are equipped with the ability to promptly shut off to ensure the immediate cessation of equipment operation in critical situations, such as grinders, which is one of the other safety features of tools. This feature is useful if the user suddenly shifts out of position in any direction.
Global Benelux Power Tool Market- Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has had a detrimental impact on various industries, including automotive, infrastructure, manufacturing, and others. In response to the pandemic, India implemented a lockdown, which resulted in temporary closures of manufacturing plants and disrupted the production of power tools. Additionally, the reduced availability of labor in the manufacturing sector led to decreased production rates, thus affecting the growth of the market.
Furthermore, the imposed lockdowns have hindered home maintenance, construction, gardening, and repair services, all of which heavily rely on power tools. As a result, there has been a noticeable impact on the demand for power tools, which are mechanical tools that require a power source for operation rather than manual labor.
Benelux Power Tool Market: Competitive Landscape
Some of the key players in the Benelux Power Tool market 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, and Others
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Key Takeaways:
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: Recent Developments
On January 19, 2023, Bosch Power Tools, a division of the Bosch Group, launched a new powerful, compact, made-in-India GWS 800 COMMERCIAL adding to its robust line oGef angle grinders.
In January 2022, Robert Bosch GmbH A Leading Power tools manufacturerlaunched Dremel 8260 cordless multi-tool that features brushless motor coupled with Bluetooth connectivity
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 October 2021, Stanley Black & Decker, Inc. partnered with Eastman, a U.S.-based specialty materials and power tool provider. Through this partnership, Stanley Black & Decker, Inc. expanded its power tool product portfolio in the U.S.
