The Adoption Benelux power tool market is projected to reach US$ 1,091.40 million in value in 2023. From 2023 to 2033, the use of power tools is anticipated to rise in both the industrial and residential sectors at a 4.6% CAGR, with a total market value of US$ 1.711 billion predicted by that time.
Throughout the assembly and production of cars, power tools are used in a variety of ways. The production of cars has greatly increased recently in the Benelux region. This is a result of the region’s expanding urban population and better economic status.
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.
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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.
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
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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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