Power Tool Manufacturing in the US - Industry Market Research Report

Power Tool Manufacturing in the US - Industry Market Research Report

Power Tool Manufacturing in the US

Power tool manufacturers make power-driven hand tools as well as spare and replacement parts. Manufacturers have faced ups and downs, primarily because of the pandemic and its aftermath. Power tools are heavily tied to construction activity and residential construction boomed in 2020 amid a low housing stock. During this time, the consumer market blossomed as people were bored at home and undertook do-it-yourself (DIY) home improvement projects. Even so, nonresidential construction slumped as business sentiment was down. As economic conditions improved, the construction market took a hit as rising interest rates delayed projects for the time being. Overall, industry revenue has grown at a CAGR of 0.1% over the past five years, including an estimated 2.0% slump in the current year and is expected to total $4.2 billion in 2023. Profit is set to fall to 6.0% as raw material prices have skyrocketed.

This industry manufactures power-driven (e.g. battery, corded, pneumatic) hand tools including drills, circular saws, chain saws and nail guns. Operators that manufacture such tools may also sell spare or replacement parts. This industry excludes operators that exclusively sell parts, power-driven heavy construction hand tools (e.g. tampers, jackhammers), powered pumps and vacuums, outdoor powered equipment (e.g. lawnmowers, power washers) and machine tools for woodcutting.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market