Portable Tools Market

Global Portable Tools Market Outlook

The global portable tools market is estimated at USD 80.4 Billion in 2022 and is forecast to surpass USD 121.6 Billion by 2032, growing at a CAGR of 4.2% during 2022-2032.

Report Attributes	Details
Base Year Value (2021A)	USD 80.1 Billion
Estimated Year Value (2022E)	USD 80.4 Billion
Projected Year Value (2032F)	USD 121.6 Billion
Global Growth Rate (2022-2032)	CAGR 4.2%
Europe Market Share in 2021	~34.1%
Europe Growth Rate (2022-2032)	CAGR 5.1%
Top 5 Companies Market Share in 2021	~37%
Key Companies Profiled	Akar Tools Ltd. Apex Tools Group Atlas Copco AB Channellock, Inc. Danaher Corporation Emerson Electric Co. (RIDGID) Fiskars Group General Tools & Instruments LLC Makita Corporation JK Files (India) Limited Kennametal Inc. Klein Tools Robert Bosch GmbH Q.E.P. Co., Inc. Snap-On Inc. Stanley Black & Decker, Inc. Techtronic Industries Company Limited Wera Tools 3M Co. DowDuPont Inc Honeywell International Inc. Ansell Limited Avon Rubber Plc. Msa Safety Inc. Lakeland Industries Inc. Uvex Safety Group Alpha Pro Tech, Ltd Rock Fall Ltd.

The global portable tools market contributed by providing around ~15% of the total revenue generated by global industrial machinery and equipment tools market in 2021. The global portable tools market is estimated to provide an absolute $ opportunity of USD 41.2 Billion during the assessment period of 2022-2032.

DIY trend is steadily gaining ground, thanks to a range of factors ranging from doorstep delivery through e-commerce, free how-to content on popular video streaming sites, and conscious cost-cutting measures. Pursuing DIY projects as a hobby has also led to a surge in demand for portable tools in residential segment.

E-commerce offering greater visibility and reach

Availability of portable tools on e-commerce platforms has offered manufacturers new ways of reaching out to their target audience. Doorstep delivery, discounts, and detailed instructions on using portable products are key USPs of e-commerce sellers.

The growing DIY ethic is also influencing online sales positively, as a significant percentage of first-timers look for specific information on instructions.

Regulations on occupational safety fuel adoption

Government mandates pertaining to occupational health safety continue to fuel adoption of personal protective equipment. The adoption is particularly impressive in industries where workers are at relatively higher risk.

Increasing awareness on the importance of personal protective equipment, combined with growing preference towards efficient and low-maintenance products continue to induce momentum in the market.

Rising raw material costs are eating into the profit margins of portable tool manufacturers. The impact of rising raw material prices is widespread, as entire supply chains are plunged into uncertainty.

Rising cost of nickel cadmium and mercury substitutes has had a mitigating effect on cordless power tools in particular. The challenges are compounded owing to the intense fragmentation in the portable tools market, with Asia Pacific in particular witnessing proliferation of new entrants.

Increasing automation in industrialized nations and lack of DIY ethic in emerging nations pose challenges

The next industrial revolution is underway, and entire processes and operational models are being transformed. Growing investments in automation have meant that spending on portable tools has dried up.

While automation emerges as a key challenge for portable tool manufacturers in developed nations, lack of DIY ethic in emerging countries has led to fewer opportunities. Although the broader outlook on the portable tools market through 2026 remains positive, portable tools industry can face severe challenges when automation becomes pervasive.

Portable Tools Market Historical Overview (2017-2021) Vs. Forecast Outlook (2022-2032)

• Europe portable tools market have been generating maximum revenue for portable tools manufacturers from past half-decade. Around 34.1% of overall market valuation for portable tools was generated by European countries in 2021 which is forecast to surpass valuation of USD 46.6 Billion by 2032 end, growing with 5.1% CAGR. Portable Tools business in Germany is generating around 28.8% market share and is projected to grow with exciting CAGR of 5.3% during 2022-2032.
• Powered portable tools include drill machines, compressed air guns, and circular saws; non-powered portable tools aka hand tools include screwdrivers, axes, and spanners whose appeal has grown manifold in the recent past. Thus, this market grew with CAGR of 3.4% with an absolute $ opportunity of USD 13.5 Billion during 2017-2021.
• Portable tools used in industries held the maximum market share ~45.6% in 2021 and is expected to gain 530 BPS within the forecast period by contributing the market with share of ~51.4% by end of 2032 that is around USD 62.5 Billion.
• Under categories for portable tools, power tools is anticipated to hold market share of ~45.1% in 2022 and is likely to provide an absolute $ opportunity of USD 24.3 Billion by reaching a market valuation of USD 60.3 Billion in 2032.

Retail outlets largest sales channel, ‘online’ gaining market share

Online sales are eating into the revenue share of retail outlets and distributors, promoting the latter to make a foray into the e-commerce segment. Online sales growth is likely to be 1.2X than distributor sales.

There are certain categories of products specifically suited to online sales. These include portable tools, lighting tools, and power tools. Although online channels have been well-received by end users in North America and Europe, emerging nations have significant growth potential.

Region-wise Insights

How Europe is projected to Witness Highest Growth for Portable Tools Market during the Forecast Period?

The Europe portable tools market is expected to provide maximum absolute $ opportunity to its manufacturers comprehended by the availability of strong supply chain networks of portable tools manufacturers in this region.

Europe has traditionally been a lucrative market for portable tools manufacturers. Steady demand from industrial sector, combined with growing adoption in landscaping and DIY projects has ensured a steady stream of opportunities.

Demand for portable tools in Europe remains concentrated in EU5, and the scenario is likely to remain unchanged during the assessment period.

Moreover, the sustained demand from metal fabrication industry in Europe has traditionally offered support to global portable tools sales; the status quo is unlikely to change over the course of the forecast period.

European metal fabrication industry has been dominated through Italy and Germany over past decade and is likely to maintain its y-o-y growth rate of over 2% in the long term. Demand for specialized tools that do not pose challenges in terms of inventory and storage overheads is likely to augur well for the growth of the market.

Thus, Germany portable tools market is estimated at USD 8.0 Billion in 2022 and is forecast to surpass market valuation of USD 14.7 Billion by end of 2032, growing at an exciting rate of 5.3% during the forecast period.

In addition, Europe portable tools market is forecast to surpass USD 46.6 Billion in 2032 out of which ~31.6% share is forecast to be generated through Germany portable tools market during the same year.

Category-wise Insights

Which Segment to Stay at the Forefront of Portable Tools Market?

Demand for portable tools from industrial sector is higher than commercial sector. Portable tools, such as power tools, personal protective equipment, and garage equipment witness higher demand in a range of industries.

High demand for lighting tools and hand tools is witnessed among commercial, household & DIY users. The pace of adoption of new and innovative technologies is slower in commercial applications compared to that ofx industrial applications, owing to which the industrial segment is likely to maintain its lucrativeness in the long run.

Thus, comprehending the aforementioned factors, portable tools in industrial sector is projected to grow at 4.8% CAGR during 2022-2032 and is estimated to value around USD 37.1 Billion in 2022. This segment is projected to cover share around ~45.6% market valuation for portable tools by 2022 and is forecast to surpass market value of USD 62.5 Billion by 2032 end.

How Personal Protection Equipment (PPE) remains the top selling portable tools on global level?

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 market, demand is highest for foot and leg protection equipment. Power tools are the second largest category in terms of revenue share, driven by shifting preference away from hand tools. Impact drivers are the top-selling power tools, with impact wrench a close second.

Competitive Landscape: Top Companies in Portable Tools Market

The global portable tools market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced portable tools.

Fact.MR has provided detailed information about price points of top manufacturers of portable tools market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

Global Portable Tools Market Segments

• By End Use :

  • Industrial
    • Manufacturing Industry
    • Constructional Industry
  • Commercial
  • Household & DIY

• By Category :

  • Hand Tools
  • Power Tools
  • Garage Tools
  • Lighting Tools
  • Personal Protective Equipment (PPE)

• By Sales Channel :

  • Distributor Sales
  • Retail Outlets
  • Online Sales

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA