In 2023, the Benelux power tools market is expected to be worth USD 1,091.40 million. With the increasing use of power tools in the industrial and residential sectors, global demand is expected to expand at a 4.6% CAGR between 2023 and 2033. The adoption of benelux power tools market is anticipated to exceed USD 1.711 billion by 2033.
The growing customer preference for power tools over hand tools is fueling the expansion of the Benelux power tools industry.
Consumer Confidence on the Rise: Fueling Adoption of Power Tools in Benelux
The rise in auto sales is one of the key factors anticipated to fuel the adoption of the Benelux power tools industry over the forecast period. The increase in consumer confidence is projected to fuel the market expansion for Benelux power tools.
It is predicted that the introduction of long-lasting, cost-efficient multifunctional power tools and the increase in online retail sales may temper the growth of the Benelux power tools market.
Key Takeaways:
- The electric segment in the mode of operation category of the power tools market in Benelux to grab a share of 74% from 2023 to 2033.
- In the end use category, the industrial segment to acquire a share of 80% in Benelux power tools market between 2023 and 2033.
Competitive Landscape
The market’s competitive landscape for power tools in the Benelux highlights the major competitors operating in the region. Their market position, product line, company plans, and most recent advances are all examined.
The competitive landscape aids stakeholders and industry participants in identifying significant rivals, evaluate their advantages and disadvantages, and benchmarking their performance. It emphasizes the degree to which market rivalry spurs Benelux power tools manufacturers to innovate and raise quality standards.
Latest Breakthroughs:
- Partnership
To develop power tools with a sustainable focus in 2021, Stanley Black & Decker teamed together with Eastman. Tritan Renew, which contains 50% certified recycled material, may be used in the company’s next revival power tool range.
- Launch
Atlas Copco introduced the SRB HA smart battery nut runner in 2020, intending to provide high torque bolt tightening for crucial energy sector applications that are safer, quicker, more affordable, and traceable.
Key Players:
- Stanley Black & Decker Inc.
- Atlas Copco AB
- Snap-on Incorporated
- Robert Bosch GmbH
- Techtronic Industries Co. Ltd
- Danaher Corporation
- Makita Corporation
- Actuant Corporation
- Hitachi Koki Co. Ltd
- SKF AB
- Metabowerke GmbH
- FERM B.V.
- Einhell Germany AG
- VIKING GmbH
Key Segments Covered:
By Mode of Operation:
- Electric
- Pneumatic
- Others
By End Use:
- Industrial
- Household
By Country:
- Belgium
- Netherlands
- Luxembourg
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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