The United Kingdom power tools market consists of a wide range of power equipment that includes portable power tools as well as stationary power tools which are used for purposes like drilling holes, sawing, cutting, sanding, planing, joining, fastening, etc. Power tools provide benefits like improved accuracy, increased work efficiency and productivity as compared to manually operated tools. The demand for power tools is dependent on major end-use sectors like construction, metalworking, woodworking, and household purposes. Advances in battery technologies are also fueling demand as these enable the development of cordless power tools that provide flexibility and portability.
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 market are Stanley Black & Decker, Atlas Copco, Techtronic Industries, Ingersoll-Rand, and Makita Corporation. Stanley Black & Decker leads the power tools market in the country with its reputed Brands like BLACK+DECKER and DEWALT, offering an array of corded and cordless tools.
The growing demand for power tools from the construction industry is a major factor fueling market growth. The recovery of the construction sector post-COVID and ongoing infrastructure projects are increasing demand. Furthermore, the rising trend of DIY activities among individuals is also propelling the sales of power tools in the country.
The United Kingdom Power Tools Market players are expanding globally through strategic acquisitions and partnerships. For instance, Techtronic Industries acquired Stanley Black & Decker's construction and DIY business in early 2022 to strengthen its power tools portfolio and distribution network in the European market.
Market drivers
The growing construction industry in the UK is a major driver for the power tools market. Government investments in infrastructure projects like high-speed rail, school and hospital construction are spurring demand. Additionally, the market is aided by increasing individual spending on home improvement and DIY activities. Cordless tools particularly stand to gain from their suitability for domestic usage.
SWOT Analysis
Strength: Power tools produced by UK brands are known for their high quality, reliability and durability. They cater to both professional users as well as DIYers.
Weakness: UK power tool makers face strong price competition from China and other Asian countries. Their distribution reach in key global markets is not as extensive as competitors.
Opportunity: Growing home improvement trend among consumers represents a major business opportunity. Development of cordless power tools with advanced features opens up new application areas.
Threats: Increasing protectionism can impact export potential of UK brands. Shift towards online retail poses threat to traditional distribution channels.
Geographical Regions
The United Kingdom power tools market is concentrated in value terms in Western Europe, dominated by countries like the UK, Germany, France, Italy, and Spain. These countries account for more than 60% share of the Western European power tools market revenue.
Fastest Growing Region
Asia Pacific region especially emerging countries like India and China is projected to be the fastest growing regional market for power tools in the coming years. This is driven by rapid urbanization, growth in infrastructure and construction activities, rising disposable incomes.
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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.
