According to a new study by Future Market Insights, the rise of the European woodworking power tools market has been largely associated with the region’s construction and carpentry sectors (FMI). The European woodworking power tools market is expected to be worth US$ 363.9 million in 2030, with Germany, the United Kingdom, and France leading the way.
According to the report, as the EU intensifies its efforts to combat climate change and reduce its carbon footprint, the European timber industry is investing in and legislating in favour of sustainable forest sources for both domestic and imported wood, which may have an indirect impact on the cost of woodworking operations and related power tool sales.
In order to expand the industry, market participants can progressively concentrate their products on applications for maintenance, repair, and renovation.
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Key Takeaways
- Planers power tools to witness greater traction through 2030 on the back of furniture applications.
- Cordless woodworking power tools to remain lucrative through the forecast period, with demand from DIYers, and operational convenience benefits providing impetus.
- Commercial tradesmen such as carpenters, masons and joiners to witness for significant demand.
- Online sales are expected to display higher growth rates, on the back of DIYers, wider product range, and offers & discounts.
- Germany is a highly lucrative market for woodworking power tools, owing to the steady growth of the non-residential construction sector and the presence of major players.
“In line with the rapid surge in demand for smart technologies and connectivity in woodworking, major market players in Europe have been using their expertise in developing sensor technology, services, and software to provide power tool solutions across domains to customers,” says analyst at FMI.
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Competitive Intelligence
Timber and woodworking companies around Europe are involved in meeting user needs of environment regulation compliance in terms of sourcing from sustainable forests locally and for international exports. This has resulted in greater standardization, albeit at a higher cost, influencing the fragmented woodworking industry towards the organized sector, and creating demand for associated power tools.
In addition to these, some of the other prominent players in the Europe woodworking power tools market include:
- Hilti Corporation
- Michael Weeing AG
- Festoon GmbH
- FEIN Power Tools Inc.
- MILWAUKEE TOOL
- Farm International B.V.
- WEN Products
- Triton Tools
Europe Woodworking Power Tools market segment
Product Type
- Drills
- Planers
- Grinders
- Saws
- Cutters
- Sanders
- Routers
- Screwdrivers
- Wrenches
- Chasers
- Others
Configuration
- Corded Power Tools
- Cordless Power Tools
End User
- Industrial Enterprises
- Commercial Carpenters, Joiners, and Masonry
- Service Providers
- DIY/Individual
Sales Channel
- Online Sales
- B2C Platform
- B2B Platform
- Offline Sales
- Bulk Suppliers
- Retail Suppliers
Region
- Germany
- Italy
- France
- U.K.
- Spain
- BENELUX
- Russia
- Poland
- Czech Republic
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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