“Growth in the construction industry, expansion in online
sales as a channel of distribution and the increasing trend of Do-it-yourself in
the country has driven the growth of electric power tools market in Philippines”.
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” by Ken Research suggested that the electric power tools market
in Philippines is at its early growth stage and has been growing due to the
rising number of infrastructure projects in the country. The market is expected
to grow with a positive CAGR of 20.0% in terms of revenue during the forecasted
period 2018-2023E.
The Construction sector is the primary end consumer of the Electric
Power Tools: The Electric Power Tools
constitutes 80% of the Philippines Power Tools Market.
Construction
sector contributed the highest revenue share to the overall power tools
industry in Philippines in the year 2018 driven on the back of the newly
industrialized economy that focuses on infrastructure development in the
country.
Shortage of affordable and skilled manpower has
driven the electric power tools market in Philippines: Lack of affordable
manpower has propelled small and medium scale manufacturing companies to
increasingly rely upon automation as electric power tools help them decrease
the quantum of manpower requirement and improve the efficiency for the same
task.
Lack of Service Stations: Lack of manufacturing
stations in Power Tools Sector in Philippines leads to poor after sales
services to the customers. As a
consequence of this, customers opt to re-purchase rather than repair these
tools since repairing is costlier. This also leads to lower consumer awareness
on usage and handling of electric power tool, thereby not improving the power
tool sector in Philippines.
Increase in Government projects to boost economy has impacted the electric
power tools market: Various
government funded infrastructure projects under the “built built built” program
and other policy initiatives such as the “zero to 10-point agenda” have increased the demand for electric power tools.
Keywords:-
Asia
Power Tools Market
Asia
Electric Power Tools Market
Philippines
Power Tools Market
Philippines
Electric Power Tools Market
Power
Tools Sales Philippines
Corded
Electric Power Tools Philippines
Cordless
Electric Power Tools Philippines
Power
Tools Manufacturer Philippines
Philippines
Construction Projects
Cordless
Power Tools Philippines
Power
Tool Dealers Philippines
Philippines
Electric Hammers Market
Direct
Sales Power Tools Philippines
Makita
Market Share Power Tools Philippines
Power
Tool Retailer Philippines
DIY
Power Tool Market Philippines
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
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
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