GURUGRAM, India, April 4, 2019 /PRNewswire/ -- The growth in the construction industry, which is a major end user for power tools in Indonesia, will drive the demand for power tools in the country. The upcoming government in 2019 is expected to continue the development work
Shortage of affordable and skilled manpower for maintenance works is expected to drive the Do-it-yourself trend in the country, which, in turn, will positively augment the retail demand for power tools such as drill bits, nail gun, circular saw and sawzall blades.
The competition is expected to increase in future as more players enter the market. It is expected that companies gaining an edge in IoT will be benefitted the most.
The future outlook of Indonesia power tool industry is positive and the industry is estimated to grow at a positive CAGR during 2018- 2023. The market share of online sales is expected to double in this period. This is because companies are expanding to online sales as a channel of distribution so as to achieve greater market penetration. The market for cordless power tools is expected to increase in the coming years with the increase in consumer knowledge about usage and safety of the cordless power tools as compared to the corded tools. The growth in the automobile industry is also expected to increase the demand for cordless power tools. Moreover, the Indonesian government is trying to speed up infrastructure development across the Indonesian nation. A large number of development projects such as Patimbang Seaport Project, The 500KV Sumatera Transmission, Central-West Java Transmission Line 500kV, PLTU Indramayu, Batang Power Plant/Central Java Power Plant, Manado-Bitung Toll Road, Serang-Panimbang Toll Road, Yogyakarta-Bawen Toll Road and Probolinggo-Banyuwangi Toll Road are expected to further augment the demand power tools in the future.
Grinders and drills which are the largest segment in the electric power tools will continue their dominance in the future. It will be largely driven by small scale contractors in operation and maintenance, construction and DIY category. These are medium priced category and are the main reason for the dominance of Makita and Bosch in the country.
The report provides a comprehensive analysis on the Power Tools Market of Philippines. The report covers various aspects including introduction to Electric Power Tools Market, Value Chain Analysis, market segmentation, decision making parameters, porter five analysis, competitive landscape, major players and trends and developments. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions.
Philippines Electric Power Tools market is an import driven market which is at its early growth stage. Power Tools market in terms of revenue has increased at a positive CAGR during the period 2012-2018. This growth was facilitated by the growing economy of the country, especially the construction industry along with rising demand from industrial and residential sector in the country. The electric power tools have a significant share in the overall power tools market in Philippines. The customers in the market are price sensitive and lack awareness about the importance of power tools which has resulted in low penetration in the market. Electric Power Tools are used by both local manufacturers and construction companies in the country. However, people prefer purchasing from established players when compared to local manufacturers due to trust in quality of products and their existing brand image. Hence, the established players have majority share in the power tools market.
The report provides a comprehensive analysis of the power tools market in India. The report covers various aspects such as overall size of India power tools market and each product category by revenue, segmentation on the basis of type of technology, source of energy, regions, application, end user, distribution channel and organized and unorganized market. The report also covers initiatives, certification requirements and industrial and labor laws by government sector, manufacturing clusters, decision making parameters by various end users and export and import scenario the industry. Additionally, the report offers prevalent trends, developments and restraints in industry. The report also covers the competitive landscape of the industry, market share of major players, and comprehensive profile of leading players operating in the market. Major macroeconomic indicators affecting the market have also been highlighted in the report. The report is useful for power tool manufacturers, dealers, sellers and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.