Global Portable Tools Market Analysis & Evolving Opportunities Studied for the Period Until 2026
Portable tools are defined as tools which can be carried by hand. These tools can be divided into non-powered portable (hand) tools and powered portable tools.
[UKPRwire, Tue Dec 18 2018] Portable Tools Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2026” is a comprehensive source of information and insights for stakeholders not only in the portable tools landscape, but also in the broader industrial and residential tools landscape. The exhaustive study offers qualitative and quantitative insights, spread over 19 chapters and 426 pages. Market forecast is offered in terms of value (US$ Mn) and volume. Stakeholders in the portable tools market can expect a wealth of information, including but not limited to macro-economic analysis, market volume projections, impact analysis, historical analysis, comprehensive segment-wise forecast, market attractive index by segments, regional & country-wise outlook, and in-depth competitive profiling.
Get Free Sample Report @ https://www.factmr.com/connectus/sample?flag=S&rep_id=1576
The report offers market forecast and analysis on the basis of category, end use, sales channel, and region. The categories of portable tools analyzed in the study include hand tools, power tools, garage tools, lighting tools, and personal protective equipment (PPE). The end uses of portable tools have been analyzed in industrial, commercial, and household & DIY settings. The key sales channels analyzed in the research report are distributor sales, retail outlets, and online sales.
The exhaustive market research study tracks the portable tools market across North America, Latin America, Europe, South East Asia and Pacific, Middle East & Africa (MEA), China, and Japan. In addition to offering broader region-wise forecast, the research study also analyzes the market in key countries of US, Canada, Germany, France, U.K. Spain, Italy, India, Indonesia, and Malaysia.
Note: The report offers comprehensive forecast and analysis on sub-segments in the portable tools market, including screw drivers, hammers, drills, impact wrenches, etc.
Direct co-relation between macroeconomic growth and portable tools sales
Portable tools sales are significantly impacted by macroeconomic factors, most notably, GDP, urbanization, economic growth, and industry value. According to OECD, world real GDP has shown a consistent surge since 2016, and the ascendancy is likely to be sustained in the long run. According to United Nations Department of Economics and Social Affairs, 68% of world’s population will live in urban areas by 2050, up from 55% currently. The direct co-relation between macroeconomic growth and portable tools sales is likely to augur well for the stakeholders in this market. The steadiness in automotive sales, especially in North America and Asia Pacific, and the long-term positive outlook on the automotive industry is likely to create opportunities for portable tool manufacturers. Growth in automotive sales directly impacts investments in repair and maintenance tools, especially among garage owners.
DIY trend complementing growth from traditional end users
DIY trend is steadily gaining ground, thanks to a range of factors ranging from doorstep delivery through e-commerce, free how-to content on popular video streaming sites, and conscious cost-cutting measures. Pursuing DIY projects as a hobby has also led to a surge in demand for portable tools in the residential segment.
Sustained demand from metal fabrication industry
Sustained demand from metal fabrication industry has traditionally offered support to global portable tools sales; the status quo is unlikely to change over the course of the forecast period. The metal fabrication industry is likely to maintain its y-o-y growth rate of over 2% in the long term. Demand for specialized tools that do not pose challenges in terms of inventory and storage overheads is likely to augur well for the growth of the market.
E-commerce offering greater visibility and reach
Availability of portable tools on e-commerce platforms has offered manufacturers new ways of reaching out to their target audience. Doorstep delivery, discounts, and detailed instructions on using portable products are key USPs of e-commerce sellers. The growing DIY ethic is also influencing online sales positively, as a significant percentage of first-timers look for specific information on instructions.
View Full Report with Table of Content @ https://www.factmr.com/report/1576/portable-tools-market
Regulations on occupational safety fuel adoption
Government mandates pertaining to occupational health safety continue to fuel adoption of personal protective equipment. The adoption is particularly impressive in industries where workers are at relatively higher risk. Increasing awareness on the importance of personal protective equipment, combined with growing preference towards efficient and low-maintenance products continue to induce momentum in the market.
Rising raw material costs and intense fragmentation continue to create challenges
Rising raw material costs are eating into the profit margins of portable tool manufacturers. The impact of rising raw material prices is widespread, as entire supply chains are plunged into uncertainty. Rising cost of nickel cadmium and mercury substitutes has had a mitigating effect on cordless power tools in particular. The challenges are compounded owing to the intense fragmentation in the portable tools market, with Asia Pacific in particular witnessing proliferation of new entrants.
Demand from industrial sector higher than commercial sector
Demand for portable tools from industrial sector is higher than commercial sector. Portable tools, such as power tools, personal protective equipment, and garage equipment witness higher demand in a range of industries. High demand for lighting tools and hand tools is witnessed among commercial and household & DIY users. The pace of adoption of new and innovative technologies is slower in commercial applications vis-à-vis industrial applications, owing to which the industrial segment is likely to maintain its lucrativeness in the long run.
Retail outlets largest sales channel, ‘online’ gaining market share
Online sales are eating into the revenue share of retail outlets and distributors, promoting the latter to make a foray into the e-commerce segment. Online sales growth is likely to be 1.2X than distributor sales. There are certain categories of products specifically suited to online sales. These include portable tools, lighting tools, and power tools. Although online channels have been well-received by end users in North America and Europe, emerging nations have significant growth potential.
EU5: the most lucrative market for portable tools globally
Europe has traditionally been a lucrative market for portable tools manufacturers. Steady demand from industrial sector, combined with growing adoption in landscaping and DIY projects has ensured a steady stream of opportunities. Demand for portable tools in Europe remains concentrated in EU5, and the scenario is likely to remain unchanged during the assessment period.
A thorough and comprehensive analysis was carried out to compile the research study on portable tools market. A combination of primary and secondary research methodologies, and data mining through our in-house proprietary tools is used to arrive at numbers and figures. In addition to these research methodology methods, information has also been sourced from corporate annual reports, product catalogs, SEC forms, and other company information.
The research report follows a systematic research approach that includes market profiling, formulation of discussion guides, development of list of respondents, data collection, data validation, analysis, and insights. The research methodology also includes identification of key opinion leaders, questionnaire design, and in-depth interviews. Our primary research sources include (but are not limited to) LinkedIn, Salesforce, Hoovers and OneSource. Secondary research is carried out through company websites, whitepapers, financial reports, and NMMA. The paid publications used for conducting research includes Factiva, GBI, Genios, Meltwater. We follow a three-step quality check procedure that involves triangulation of data, internal validation, and peer-review through independent thought leaders.
Grow Your Business From Expert Advice @ https://www.factmr.com/connectus/sample?flag=AE&rep_id=1576
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market insights reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
11140 Rockville Pike
Rockville, MD 20852
Read Industry News at- https://www.industrynewsanalysis.com/