Power tools have found widespread adoption in a variety of industries such as construction, woodworking, automobile repair and manufacturing. In the construction industry, power tools are used for tasks such as drilling, cutting, sanding and fastening. There is growing demand for power tools such as drills, saws, sanders, grinders, polishers and hammers in the United Kingdom construction industry. The construction sector in the UK has been witnessing healthy growth over the past few years on account of increasing residential and commercial construction activities. The government's push for infrastructure development projects is also driving demand.
The United Kingdom Power Tools Market is estimated to be valued at USD 1.77 Bn in 2024 and is expected to reach USD 3.84 Bn by 2031, growing at a CAGR of 11.7% from 2024 to 2031.
Key Takeaways
Key players operating in the United Kingdom power tools are Stanley Black & Decker, Bosch, Techtronic Industries (TTI), Makita and Hilti. Bosch leads the power tools market in the UK with a market share of over 20% in 2023.
The United Kingdom Power Tools Market growing population and rising disposable incomes have significantly increased residential construction activities in the UK in recent years. This has created substantial growth opportunities for power tools manufacturers and distributors in the country. Consumer spending on tools and equipment for home improvement projects is expected to witness strong growth through 2029.
Major power tools companies are investing heavily in innovative product development, improving ergonomics, safety and efficiency. They are also focusing on expanding their global footprint by making strategic acquisitions and entering into partnerships. For instance, in 2023, Bosch acquired a 80% stake in Power Tools Asia, a Singapore-based power tools distributor to strengthen its presence in Southeast Asia.
Market Drivers
Growing construction industry: UK government's focus on infrastructure projects and rising residential construction owing to increasing population is driving demand for power tools.
Product innovation: Leading players are continuously investing in R&D to develop advanced power tools with improved efficiency, safety and ergonomics catering to customer needs.
Market Restraints
Availability of counterfeit products: Easy availability of low quality counterfeit power tools in local markets poses threat to established brands.
Economic slowdown: Prolonged economic slowdown can negatively impact capital spending on infrastructure and construction activities thereby affecting power tools sales.
Segment Analysis
The United Kingdom power tool market can be segmented based on type into corded power tools and cordless power tools. Within these segments, there are various sub-segments like drill machines, sawing machines, sanders, grinders, routers, polishers etc. Among these, cordless power tools have been dominating the market as they provide flexibility and are easier to use compared to corded power tools. Factors like convenience of using tools without the need to be near a power source and the improvements in battery technologies have made cordless power tools very popular among both professional builders as well as DIY customers in the country.
Global Analysis The United Kingdom power tool market has seen highest growth and demand from regions like London and South East of England. Being economic and industrial hubs, these regions have significant construction and infrastructure development activities requiring power tools. London especially witnesses a large number of residential and commercial construction projects driving the sales of products. Within Europe as well, the United Kingdom market continues to be one of the leading revenue generators for power tool manufacturers. However, the Asia Pacific region, especially countries like China and India, have immense potential for future growth due to rapid urbanization and industrialization leading to increased infrastructure and building construction activities in these markets.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
