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Strategy Briefing
Power Tools: Category Overview
Feb 2015
US$1,325Added to Cart
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About This Report
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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
Power tools suffered from sluggish sales in the review period, despite significant product innovations and improvements. This was due to the products’ dependence on macroeconomic conditions, which have been highly volatile since 2008. Key markets such as the US are expected to see a positive development in the property market, which should propel some growth in power tools. Other regions remain tough, with ongoing austerity in Europe and cooling down in emerging markets.
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Overview
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
DIY culture a prerequisite
In many emerging countries, DIY is not seen as positively as in the West, where it is linked to the idea of pride and achievement. This sentiment may never prevail in some countries like China. Kingfisher Plc had to accept this and decided to exit at the end of 2014. This reality may lead manufacturers and retailers to turn to the trade business instead of the consumer market.
Cordless to replace plug-in products
All manufacturers are transiting to cordless tools, equipped with efficient and lightweight lithium-ion batteries. Corded products are likely to decline as they are now matched in power and efficacy by battery-operated ones, although the higher prices of cordless tools will continue to be a limiting factor. However, as competition rises unit prices will drop, expanding the consumer base.
Female population increasingly targeted
Women are increasingly targeted by power tool manufacturers and retailers thanks to changing lifestyles and a reduction in income inequality. Single mothers, as well as women seeking independence, represent key growth segments.
Sharing economy both a threat and an opportunity
Fuelled by the internet and social media, power tool sharing is a new paradigm for the industry. While it is seen as a threat to sales of new equipment, it can spread the DIY culture among young and tech-savvy users, which could eventually make them want to own tools themselves.
Ageing population
Many developed markets will be faced with the ageing of their populations, which will create opportunities for age-related home improvement projects (easier access, safety in bathrooms, monitoring systems, etc).
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Introduction
Scope
I ntroduction
Key findings
Power tools’ share of home improvement
A flat market at best despite ongoing product innovation
Review period growth: Emerging countries on top
Great regional discrepancy in per household spend
Socio-economic Drivers
Substitutes for power tools
Electrification a key prerequisite for the development of power tools
Leisure time linked to power tools usage
Power vs hand tools analysis
Urbanisation and its impact on type of dwelling
Rise of single person and educated households in G8 countries
Some improvement in the housing market
I nnovation and C onsumers
Battery-powered tools are the new gold rush
Innovation and Consumers
Feminisation can unlock growth potential
DIY tutorials: Manufacturers start to play their part
New alternatives emerge in the power tools universe
D-I-Y versus do-it-for-me culture
Regional Analysis
Failure to create value in mature markets cause global sales to dip
North America: Manufacturers desperate to revive the market
Western Europe: Frugality hurts value growth
Political crisis in Russia may impact power tools
Competitive Analysis
Leading power tool brands capitalise on sagging demand
Stanley Black & Decker Inc: Continuing reliance on North America
Case study: Stanley Black & Decker – a patriotic stance in the US
Case study: Stanley Black & Decker – partnerships in Europe
Robert Bosch GmbH: Strong growth in Eastern Europe
Bosch makes gains in Chinese and Russian power tools
Hitachi Ltd and Makita Corp pursue single brand strategy
Japan: Private label stagnant as consumers return to brands (I)
Japan: Private label stagnant as consumers return to brands ( II)
Channel Analysis
Global DIY chains keep it to a regional scale
Internet preferred to show rather than sell
Case study: The Home Depot’s successful omni-channel strategy
In power tools, retailers make or break brands
Private label shadowed by brands in store
Private label doing better online through better visibility
Forecasts
Global forecast: North America will remain the growth engine
Some opportunities remain in developed markets
Disparities in Asia Pacific
R eport Definitions
Data parameters
Report Definitions
Product category definitions
Retail distribution definitions
Notes
Images Sources
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
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