Power tools continue to witness steady demand in Benelux, with 10 million units expected to be shipped in 2016, up from 9.8 million units in 2015 – a y-o-y growth rate of 2.5%. The Benelux power tools market was valued at US$ 826.4 million in 2015, and is expected to reach US$ 859.1 million in 2016. Industrial power tools will continue to outsell household power tools, and account for 57.6% revenue share of the market in 2016.
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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.
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.
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.
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.
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Growth of the power tools sales in Benelux is influenced by several macroeconomic and other factors such as rising investments in housing sector in Benelux, increasing automotive sales, increasing consumer confidence index, emergence of durable and cost-effective multi-functional power tools and growing online retail sales.
Key trends identified in the Benelux power tools market are rising consumer inclination towards power tools over hand tools, increasing sales of professional power tools, increasing penetration of Chinese products in Benelux market and move from corded to cordless tools.
The market research report includes in-depth opportunity analysis of power tools market in Belgium, the Netherlands and Luxembourg. The Netherlands is projected to dominate the market throughout the forecast period. Belgium is expected to be the next major market after Netherlands with an estimated value share of 41.8% by 2016 end.
Luxembourg power tools market is anticipate to hold minor share in overall Benelux power tools market. The market in Luxembourg is expected to be the fastest growing, expanding at a CAGR of 6.0% in terms of volume.
FMI forecasts the Benelux power tools market to witness a moderate growth rate of 3.9% in terms of value during the forecast period (2016–2026). In terms of volume, the market is anticipated to increase at 2.2% during the forecast period, 2016-2026.
By End Use
- Industrial Power Tools
- Household Power Tools
By Mode of Operation
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