Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

A power tool is a tool operated by an additional power source and mechanism other than solely manual labor similar to hand tools. There are several types of power tools based on the source of power such as electric power operated tools, liquid fuel gas-powered tools, pneumatic power tools, powder-actuated tools, and hydraulic tools. As compared to conventional hand tools, power tools are far more sophisticated, efficient, and easier to use. These tools are used in complex and heavy-duty activities where precision and speed are necessary. Power tools find applications in routing, sanding, cutting, drilling, polishing, heating, painting, etc.

The Africa power tools market is estimated to account for US$ 7322.2 Mn in terms of value by the end of 2027.

Market Dynamics- Drivers

  1. Rising investments in housing sector and infrastructure is expected to drive growth of the Africa power tools market during the forecast period

Significant increase in investments in housing sector has led to increase in demand for power and hand tools. Sales of power tools have significantly increased across the globe including North America, owing to rising housing investments. Moreover, the demand for restoration in Japan has increased after the Great East Japan Earthquake, which in turn, is expected to drive growth of the Africa power tools market in the near future.

  1. Rising urbanization is expected to propel the Africa power tools market growth over the forecast period

Urbanization in African countries is on the rise with additional infrastructure development such as transportation, energy, and related maintenance services. All these services require hand and power tools. According to the United Nations (UN), the world population is expected to increase by 20% between 2015 and 2025, with Asia and Africa projected to contribute significantly to this growth, this is expected to further urbanization and the subsequent need for hand and power tool. Thus, these factors are expected to propel Africa power tools market growth in the near future.

Statistics:

Africa held dominant position in the Africa power tools market in 2019, accounting for 68.4% share in terms of value, followed by GCC.

Figure 1: Africa Power Tools Market Share (%), in terms of Value, By Country, 2019

Africa Power Tools  | Coherent Market Insights

Market Dynamics- Restraints

  1. Intense pricing competition is expected to restrain growth of the Africa power tools market during the forecast period

Constant competition among tool manufacturers is adversely affecting growth of the market. The imported steel prices are falling can be witnessed from the declining imports and rapid growth in the number of unfair trade complaints filed in the U.S. during 2014. Moreover, increased cost of nickel, mercury, and cadmium battery substitutes have resulted in reduced sales of cordless power tools. Thus, these factors are expected to hamper growth of the market in the near future.

  1. Rising threat from imported products is expected to hinder the Africa power tools market growth over the forecast period

Presence of imported tools from China is major threat to regional players. -part exports from China increased substantially between 2000 and 2010, largely due to Chinese Central and Local governments heavily subsidized the country’s auto-parts industry. Thus, these factors are expected to hinder the Africa power tools market growth over the forecast period.

Market Opportunities

  1. Rising preference for power tools over hand tools can present significant growth opportunities

Increasing popularity cordless electric saws, sanders, grinders, and polishers have led to increase in demand for power tools thereby surpassing hand tools. Rising consumer shift towards DIY products is another factor boosting the demand for power tools. For instance, the Bosch Power Tools division witnessed a 25% growth in sales of power tools from 2008 to 2012 and is expected to register 18–20% growth by 2015 end. Major companies in the market can capitalize on the opportunities and gain a competitive edge.

  1. Growing consumer preference for DIY activities in emerging economies can offer major business opportunities

Improving living standards and rapid urbanization in emerging economies in African region has led to growth of the DIY segment. Increasing awareness amongst consumers in developing economies is paving the way for DIY tools in numerous applications such as non-vehicular products and services. Moreover, DIY segment is highly popular in emerging economies where home improvement is widely pursued as an enjoyable pastime.

Figure 2: Africa Power Tools Market Value (US$ Mn), 2017 - 2027

Africa Power Tools  | Coherent Market Insights

The Africa power tools market was valued at US$ 4465.5Mn in 2019 and is forecast to reach a value of US$ 7322.2 Mn by 2027 at a CAGR of 7.6% between 2020 and 2027.

Market Trends

  1. Professional segment is expected to witness the fastest growth in the near future

In the professional segment, expensive powers have witnessed higher penetration with professionals willing to pay more for advanced tools. To a large extent, demand for power and hand tools by professionals has increased as a result of new housing construction projects, household renovations, public investment, and private investments. By 2025, the volume of construction is expected to grow by 70% to reach US$ 15 Trn worldwide. Meteoric growth is likely to be concentrated in three countries namely China, the U.S., and India, with these countries accounting for approximately 60% of the Africa growth.

  1. Rising product development initiatives is another major trend

Many companies in the market are focused on research and development activities of new products, processes, and methodologies, in order to enhance tool strength, durability, and other ergonomic factors. Development of Lithium-ion battery technology is proving to be a major breakthrough. For instance, Hitachi Koki Co. Ltd introduced the series 36V cordless gardening tools along with highly energy-efficient brushless motors.

Competitive Section

Key companies involved in the Africa power tools market are Stanley Black & Decker, Inc., SKF, Atlas Copco AB, Hitachi Koki Co. Ltd, Robert Bosch GmbH, Snap-on Incorporated, Techtronic Industries Company Limited, Makita Corporation, and Danaher Corporation.

Key Developments

  1. Major companies in the market are focused on joint venture, in order to enhance the market presence. For instance, in May 2017, SKF with Honeywell Process Solutions launched a joint pilot venture to create digital standard for enhanced machine efficiency, competitiveness, and reliability for industrial customers.
  2. Key players in the market are involved in mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in April 2019, Snap-on Incorporated, a U.S.-based designer of high-end power tools, acquired Power Hawk Technologies Inc. for US$ 8 million in cash.

A power tool is a tool operated by an additional power source and mechanism other than solely manual labor similar to hand tools. There are several types of power tools based on the source of power such as electric power operated tools, liquid fuel gas-powered tools, pneumatic power tools, powder-actuated tools, and hydraulic tools. Power tools are used for construction, painting, grinding, sanding, shaping, drilling, household tasks, gardening, etc. As compared to conventional hand tools, power tools are far more sophisticated, efficient, and easier to use. These tools are used in complex and heavy-duty activities where precision and speed are necessary. Power tools find applications in routing, sanding, cutting, drilling, polishing, heating, painting, etc.

Market Dynamics

Increasing demand of power tool in construction and automobile industry is expected to drive the Africa power tools market. Africa as region rapidly growing in construction industry. Majority of the development is housing and public infrastructure. Furthermore, Africa and Asia are regions which contributing the most in the global population. For instance, according to the United Nations (UN), the world population is expected to increase by 20% between 2015 and 2025, with Asia and Africa projected to contribute significantly to this growth, this is expected to further increase in urbanization and related construction activity. Increasing population is another, parameter which is going to contribute in the construction activity and subsequently increase the demand of power tools  

Electric power tool are rapidly increasing over the hand tool this is owing to the availability of 24 hours of power supply. African countries are heavily investing in energy sector to provide electricity to the consumers. Furthermore, demand of electric tool is increasing, to cope with this demand key players are increasing their focus on electric power tools. For instance, the Bosch Power Tools division witnessed a 25% growth in sales of power tools from 2008 to 2012 and is expected to register 18–20% growth by 2015 end.

Market Taxonomy

This report segments the Africa power tools market on the basis of Category, Mode of Operation, End-Use Sector and region. On the basis of Category, the Africa power tools market is segmented into Power Tools and Hand Tools. On the basis of Mode of Operation, the Africa power tools market is segmented into Electric, Pneumatic and Others. On the basis of End-Use Sector, the Africa power tools market is segmented into Industrial and Household. On the basis of region, the Africa power tools market is segmented into Africa and GCC.

Key features of the study:

  • This report provides an in-depth analysis of the Africa power tools market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the Africa power tools market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Africa power tools market are Stanley Black & Decker, Inc., SKF, Atlas Copco AB, Hitachi Koki Co. Ltd, Robert Bosch GmbH, Snap-on Incorporated, Techtronic Industries Company Limited, Makita Corporation, and Danaher Corporation.
  • The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The Africa power tools market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Africa power tools market.

Detailed Segmentation:

  • Africa Power Tools Market, By Category:
    • Power Tools
    • Hand Tools
  • Africa Power Tools Market, By Mode of Operation:
    • Electric
    • Pneumatic
    • Others
  • Africa Power Tools Market, By End-Use Sector:
    • Industrial
    • Household
  • Africa Power Tools Market, By Region:
    • Africa
    • GCC
  • Company Profiles
    • Stanley Black & Decker, Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • SKF
    • Atlas Copco AB
    • Hitachi Koki Co. Ltd
    • Robert Bosch GmbH
    • Snap-on Incorporated
    • Techtronic Industries Company Limited
    • Makita Corporation
    • Danaher Corporation

*Browse all the market data tables and figures on “Africa Power Tools Market- Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Category
      • Market Snippet, By Mode of Operation
      • Market Snippet, By End-Use Sector
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approval
  4. Africa Power Tools Market, By Category, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Power Tools
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Hand Tools
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  5. Africa Power Tools Market, By Mode of Operation, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Electric
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Pneumatic
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Africa Power Tools Market, By End-Use Sector, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Industrial
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Household
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Africa Power Tools Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
    • Africa
      • Regional Trends
      • Market Size and Forecast, By Category, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Mode of Operation, 2020–2027 (US$ Million)
      • Market Size and Forecast, By End-Use Sector, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Africa
        • GCC
  8. Competitive Landscape
    • Company Profiles
      • Stanley Black & Decker, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • SKF
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Atlas Copco AB
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hitachi Koki Co. Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Robert Bosch GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Snap-on Incorporated
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Techtronic Industries Company Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Makita Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Danaher Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse XX market data tables and XX figures on “Africa Power Tools Market-forecast to 2027”.

Frequently Asked Questions

The Africa power tools market size was valued at US$ 6,514.7 million in 2019 and is estimated to exhibit a CAGR of 6.3% between 2020 and 2027.
Industrial segment held the major market share in 2019 owing to an Rising investments in housing sector and infrastructure during the forecast period.
Major factor driving the growth of Africa power tools market during the forecast period Rising investments in housing sector and infrastructure and Rising urbanization.
Major factors hampering the growth of the power tools market during the forecast period constitutes of Intense pricing competition
Africa power tools market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Stanley Black & Decker, Inc., SKF, Atlas Copco AB, Hitachi Koki Co. Ltd, Robert Bosch GmbH, Snap-on Incorporated, Techtronic Industries Company Limited, Makita Corporation, and Danaher Corporation.
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