The
report titled “Philippines
Electric Power Tools Market Outlook to 2023 - By Product (Grinders, Drills, Saws, Hammers and
others), By Application
(Construction, Manufacturing and others), By Price Category (Premium, Medium,
Low), By Distribution
Channel (Direct Sales, Dealer & Retailers Sales and Online Sales), By Region, By Corded or Cordless Tools” 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.
Market Size
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.
By Application (Construction, Manufacturing and Others): Construction market that
includes residential, farm, industrial, commercial, buildings, highways, streets
and so forth dominated the power tools market in Philippines in terms of
generating revenue in the year 2018. The
evolving economy demanding for huge infrastructure development along with the
government aided projects to develop the country’s infrastructure owe to huge
demand for Power Tools. On the other hand, manufacturing sector, small workshops, DIY enthusiasts,
carpenters and other related jobs comparatively
demanded for fewer tools due to the absence of entrepreneurial dynamism and
awareness in the country.
By Product Category (Premium, Medium and Low): Medium priced tools contributed a major share in terms of
generating revenues for the industry in 2018. Medium Priced Tools are largely
demanded by construction companies due to affordability and pricing of the tools;
whereas premium priced products serving huge construction companies and low
priced products catering to residential users and small repair shops accounted
for the remaining share in the overall market revenue as of 2018.
By
Product (Grinders, Drills, Saws, Hammers and Others): Grinders contributed majority of the revenue share in the
overall electric power tools market in Philippines in the year 2018. This was
followed by contribution from drills, saws, hammers, breakers, electric
screwdrivers, routers and others.
By Distribution Channel (Direct Sales, Dealers and Retailer
Sales and Online Sales): Distribution and
Sales through Dealer and Retailers led overall revenue of the Power Tools
Market in Philippines. Sales were mostly facilitated through this channel due
to easy availability of tools and better reach to the end users. Huge
construction companies have fixed dealers to facilitate their periodic
purchasing that is a part of direct sales. On the other hand, online sales
accounted a small share in the overall market due to lack of awareness and poor
internet services in the country.
By Region (Luzon, Visayas and Mindanao): Philippines is majorly divided into 3 regions- Luzon, Visayas
and Mindanao with Luzon accounting to maximum revenue from sales of tools in
2018 because of leading distributors residing in the area.
By
Portable and Stationary Tools: Innovation
of Lithium-ion batteries and mobility of power tools lead to increased demand
for Portable Tools occupying majority of the market share as of 2018. On the
other hand, lack of proper manufacturing stations and high cost of power tools
were key reasons for reduced market share by stationary tools.
Competitive Landscape
The
Electric Power Tools Market in Philippines is highly concentrated. Makita is
the market leader and has the highest market share on the basis of revenue in
2018. This was followed by Hilti, Bosch, Stanley Black & Decker and Dewalt and
Others. These players compete in the Power Tools market in Philippines on the
basis of price, availability, after sales service and brand image.
Philippines Electric Power Tools
Market Future Outlook
In future, it is anticipated that Philippines Electric Power
Tools market in terms of revenue will increase at a positive CAGR during the
period 2018–2023E. Technological advancements such as Artificial Intelligence and Machine
Learning will lead to manufacturing of tools that are easy to operate and safer
to handle which will boost the usage of Electric Power Tools. Rising trend of
DIY amongst residential users and improved internet connectivity in the country
will also boost demand for power tools. It is expected that the demand for cordless tools will be
further augmented due to increasing customer awareness on ease of handing,
improved efficiency and internet penetration in the country. It is also
expected that the emergence of local manufacturing firms will lead to augmented
revenue from sales of Power Tools to manufacturing firms.
Key Segments Covered:-
By Application
Construction
Industry
Manufacturing
Industry
Others
By Price Category
Premium
Category
Medium
Category
Low Category
By Product Type
Grinders
Drills
Saws
Hammers
Others
By Distribution Channel
Direct
Sales
Dealer
and Retailer sales
Online
Sales
By Region
Luzon
Visayas
Mindanao
By Corded or Cordless Tools
Corded
Tools
Cordless
Tools
By Portable and Stationary Tools
Portable
Tools
Stationary
Tools
Key Target Audience:-
Authorized
Distributors and Dealers
Real
Estate Construction Companies
Manufacturing
companies
Automobile
companies
Power
Tools Sector
Time Period Captured in the Report:-
Historical Period: 2012-2018
Forecast Period: 2018-2023E
Companies
Covered:-
Makita
Hilti
Bosch
Stanley
Black & Decker and Dewalt
Key Topics Covered in the Report:-
Executive Summary
Research Methodology
Value Chain Analysis
Electric Power Tools Market,
2013-2018
Electric Power Tools Market
Segmentation, 2018
Decision Making Parameters
Porter Five Force Analysis
Competition Landscape
Company Profiling
Competitive Landscape
Market Share of Major
Companies
Trends and Developments
Trade Scenario of Power Tools
Electric Power Tools Market
Future Outlook, 2018-2023
Future Segmentation of
Electric Power Tools Market, 2023E
Analyst Recommendations
For more information, refer to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
No comments:
Post a Comment