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Benelux Power Tool Market Analysis | Coherent Market Insights

Read here the market research report on u201cBenelux Power Tool Marketu201d published by CMI team.<br><br>

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Benelux Power Tool Market Analysis | Coherent Market Insights

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  1. Coherent Market InsightS Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. Benelux Power Tool Market • A power tool is that is operated by an additional power source and mechanism that is used for performing mechanical operations. Power tools are segmented as pneumatic, electric, and hydraulic, of which electric tools are most commonly used. Power tools are used for performing variety of applications namely such as drilling, gardening, construction, household tasks, cutting, shaping, grinding, sanding, polishing, heating, beating, and more. Electric power tools are actuated by electricity and are either battery-powered or corded. Cordless drill, hammer drill, band saw, rotatory hammer, table saw, heat gun, jigsaw, miter saw, dust extractors, etc. are some of the common electric power tools in different operations. • The Benelux power tool market is estimated to account for US$ 971.6 Million in terms of value by the end of 2019 and is expected to grow at a CAGR of 3.9% during the forecast period (2019-2027)

  3. Market Dynamics- Drivers 1. Increasing sales of automobiles are expected to drive growth of the Benelux power tool market during the forecast period • Power tools find extensive applications in manufacturing and assembly of automobiles. Automobiles production in Benelux region has increased significantly in the recent past. This is owing rampant urbanization and improving economic conditions in the region. According International Organization of Motor Vehicle Manufacturers (OICA), vehicle production in the Netherlands reached 157,280 in 2017, up from 44,122 from 2015, which is an increase of 74.97%. This, in turn, is expected to boost the demand for different types of power tools, thereby driving the market growth over the forecast period.

  4. s 2. Growing consumer confidence index in the region is expected to propel the Benelux power tool market over the forecast period Consumer confidence is a direct measure of consumers’ tendency to purchase goods and avail services. Increasing expenditure on goods and services boost the overall economy of the country. After the global financial crisis of 2007-2008 consumer confidence in the Netherlands has increased significantly. According to National Bank of Belgium, consumer confidence in Belgium stabilized in May 2016, after falling for four consecutive months. Moreover, financial situations in the country are expected to improve significantly, which will boost adoption of DIY power tools. According to European Economic Forecast, consumer confidence index in Luxembourg reached its all-time high value of 8.8 in March 2016 and is expected to remain stable during the forecast period.

  5. Market Dynamics- Restraints 1. Rising pricing pressure over service and components providers is expected to restrain the Australia conveyor maintenance market growth over the forecast period • Declining commodity prices timid global mineral demand has impacted Australian mineral exploration activities significantly. This has led to shut down of number of mining operations while surviving corporations are focused on minimizing loses by controlling expenditure and capital and operational cost. Due to this, there have been limited contract renewals from single maintenance provider. This, in turn, is expected to restrain the market growth over the forecast period

  6. 2. Lack of skilled workforce that are trained for maintenance work is expected to hinder the Australia conveyor maintenance market growth during the forecast period • Conveyor maintenance is a meticulous process, which requires well-learned and skilled workforce. Improper maintenance of conveyor can stall the entire production line and lead to major technical issues. Moreover, it is expected to hinder the overall productivity and economy of the organization. Such factors are expected to hamper the market growth over the forecast period. Netherlands is expected to dominate the Benelux power tools market during the forecast period, accounting for 54.5% share in terms of value, followed by Belgium and Luxembourg respectively.

  7. Market Dynamics- Restraints 1. Intense pricing competition among manufacturers is expected to hinder the Benelux power tool market growth over the forecast period • Constant competition among power tools manufacturers is restricting growth of power tools market up to a large extent. Declining prices of imported steel are expected to reduce the overall imports and significant growth in number of unfair trade complaints filed is expected to hamper the market growth over the forecast period. Furthermore, increasing prices of nickel cadmium and mercury battery substitutes has hindered the sales of cordless power tools, which in turn, is expected to restrain the market growth in the near future.

  8. 2. Strict regulatory policies regarding safety are expected to restrain the Benelux power tool market growth during the forecast period • Accidents and mishaps related to power tools are quite common in manufacturing and other industries. Thus, governments across various countries are implementing stringent safety regulatory policies that need to be practiced by both tool manufacturers and users. For instance, ‘Provision and Use of Work Equipment Regulations 1998’ is aimed at employers, duty holders, and anyone responsible for safe use of work equipment, such as managers and supervisors. Thus, such stringent regulations are expected to hamper the market growth in the near future.

  9. Market Opportunities 1. Geographical orientation of Luxembourg is expected to offer lucrative business opportunities • Luxembourg is located in the center of Europe where it acts as a significant gateway to European market such as France, Germany, Belgium, and more. Such unique geographical orientation and favorable tax and regulatory framework are expected to offer significant business opportunities for market players in the near future. Moreover, rapid growth of the economy is expected to boost private investments in numerous sectors such as infrastructure and construction are expected to offer lucrative growth opportunities for market players. For instance, according to Coherent Market Insight’ analysis Luxembourg’s GDP is expected to increase at robust rate of 3% by the end of 2016. 

  10. 2. Increasing DIY activities in Benelux are expected to offer conducive growth opportunities • People in developed regions consider home improvement and small maintenance as favorable pastime. Manufacturers in the region are catering this demand by offering DIY compact, portable, and cost-efficient tools for household users. This, in turn is expected to boost the sales of power tools and offer excellent growth opportunities for market players during the forecast period.

  11. 2. Growing strategic alliance among key players is another major trend in the market • Key players in the maintenance industry are focused on various strategic moves such as mergers and acquisitions, in order to gain competitive edge in the market. For instance, in May 2016, Nepean, a supplier of engineering and industrial materials, acquired Elton Conveyors Pty Ltd., a manufacturer of engineered bulk materials such as conveyors and conveying equipment.

  12. Market Trends 1. Consumers in the region are preferring power tools over handheld tools • Consumers in the region are increasingly using power tools over handheld tools, owing to benefits and continence offered by power tools. Power tools such as cordless electric saw, sanders, grinders, and polishers offer great level of convenience as compared to hand tools. Moreover, increasing trend of DIY products is boosting the demand for power tools in the market. For instance, Bosch Power Tools witnessed growth of 25% in power tools sales from 2008-2012 and is expected to register 18-20% growth in 2016.

  13. 2. Growing competition among regional and Chinese vendors is expected to influence the market • Chinese vendors are offering novel products at more competitive prices as compared to other power tool vendors. China is one of the most established exporters of products to the U.S. and Europe, due to which electric tools production in these regions have decreased significantly. Moreover, companies in emerging economies such as China and India are receiving significant support from their respective governments, which has posed challenge to local European vendors. • Electric Tools segments of Benelux power tools market was valued US$ 250.8 Million in 2018 and is forecast to reach a value of US$ 723.7 Million by 2027.

  14. Value Chain Analysis

  15. Competitive Section • Key players operating in the Benelux power tool market are • Global: Stanley Black and Decker, SKF, Atlas Copco, Hitachi Koki Co. Ltd., Snap-On Incorporated, Robert Bosch GmbH, Actuant Corporation, Techtronic Industries Co. Ltd., Makita Corporation, and Danaher Corporation. • Regional: Metabowerke GmbH, FERM B.V., VIKING GmbH, and Einhell Germany AG

  16. Key Developements • Key companies in the market are focused on product launch, in order to expand their product portfolio. For instance, in January 2016, VIKING GmbH launched robotic mower that can be operated using a mobile app, iMow. • Key companies in the market are focused on mergers and acquisitions, in order to enhance their market presence. For instance, in March 2016, Hitachi Koki Co. Ltd., a Japan-based power tool manufacturer, acquired Metabo AG as a part of its strategy to expand its business in Europe.

  17. Request sample copy here Request PDF brochure here Request Customization here Talk to Analyst Buy Now Reference: https://www.coherentmarketinsights.com/market-insight/benelux-power-tool-market-3209

  18. About Us: • Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. • What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  19. Contact Us: • Mr. Shah • Coherent Market Insights Pvt. Ltd. • Address: 1001 4th ave, #3200 Seattle, WA 98154, U.S. • Phone: +1-206-701-6702 • Email :sales@coherentmarketinsights.com

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