Portable tools market continues to maintain its momentum on back of strong sales of personal protective equipment and power tools. The US$ 85 billion market is likely to show Goldilocks growth, with market revenues likely to grow by 1.4X between 2018 and 2028. These insights are according to a latest Fact.MR study that tracks the portable tools market in over seven regions and over 50 countries.
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According to the report, the portable tools market continues to be highly fragmented, with a number of local and regional players accounting for miniscule revenue shares. Large corporations, such as Stanley Black & Decker, Inc. and Robert Bosch GmbH have single-digit market share from portable tools. The report finds that a large number of local and regional players cater to fixed categories of portable tools, with power tools and personal protection equipment among the top draws.
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Portable Tools Market: Segmentation
The report offers market forecast and analysis on the basis of category, end use, sales channel, and region. The categories of portable tools analyzed in the study include hand tools, power tools, garage tools, lighting tools, and personal protective equipment (PPE). The end uses of portable tools have been analyzed in industrial, commercial, and household & DIY settings.
The key sales channels analyzed in the research report are distributor sales, retail outlets, and online sales.
The exhaustive market research study tracks the portable tools market across North America, Latin America, Europe, South East Asia and Pacific, Middle East & Africa (MEA), China, and Japan.
In addition to offering broader region-wise forecast, the research study also analyzes the market in key countries of US, Canada, Germany, France, U.K. Spain, Italy, India, Indonesia, and Malaysia.
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Personal protection equipment (PPE) – top-selling portable tools globally
Personal protection equipment (PPE) is the most lucrative segment, with an estimated one-third revenue share of the market.
Stringency in occupational safety regulations, combined with increasing awareness on the importance of worker safety are driving adoption of personal protection equipment among end users.
Among the various types of PPE available in the market, demand is highest for foot and leg protection equipment.
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