Benelux Power Tools Market High State Of Affairs, SWOT Analysis, Business Summary and Forecast 2032
With 10 million units expected to be shipped in 2016, up from 9.8 million units in 2015 and a y-o-y growth rate of 2.5 percent, power tools are still in high demand in the Benelux region. In 2015, the Adoption of Benelux Power Tools Market was estimated to be worth US$ 826.4 million, and in 2016, it is anticipated to be worth US$ 859.1 million.
Power tool sales growth in Benelux is influenced by a number
of macroeconomic and non-economic variables, including rising housing sector
investments in Benelux, rising automotive sales, rising consumer confidence
index, emergence of long-lasting and reasonably priced multi-functional power
tools, and expanding online retail sales.
On the basis of mode of operation, electric power tools will
continue to remain the highest selling power tools, with 5.8 million units
expected to be shipped in 2016, up from 5.7 million units in 2015. On the other
hand, pneumatic power tools, also known as air tools, will continue to gain
popularity among DIYers, owing to their compact size and relatively lower
price.
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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.
Adoption of Benelux Power Tools Market 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.
Adoption of Benelux Power Tools Market Key Segment
By End Use
- Industrial
Power Tools
- Household
Power Tools
By Mode of Operation
- Electric
- Pneumatic
- Others
By Country
- Belgium
- Netherlands
- Luxembourg
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