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.
Numerous macroeconomic and non-economic factors, such as rising housing sector investments in Benelux, rising auto sales, an increase in consumer confidence, the emergence of long-lasting, affordably priced multi-functional power tools, and rising online retail sales all have an impact on the growth of power tool sales in the region.
Electric power tools will continue to be the most popular power tools by mode of operation, with 5.8 million units anticipated to be supplied in 2016, up from 5.7 million units in 2015. However, because to their small size and generally lower cost, pneumatic power tools, also referred to as air tools, will continue to grow in favour among do-it-yourselfers.
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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.
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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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