The growing customer preference for power tools over hand tools is fueling the expansion of the Benelux power tools industry.
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 benelux power tools market is to be hitting USD 1.711 billion by 2033.
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.
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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 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.
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
By Mode of Operation:
- Electric
- Pneumatic
- Others
By End Use:
- Industrial
- Household
By Country:
- Belgium
- Netherlands
- Luxembourg
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets.
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