New Delhi ,
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.
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.
Philippines Electric Power Tools Market Segmentation
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.
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 Price Category
By Product Type
By Distribution Channel
Dealer and Retailer sales
By Corded or Cordless Tools
By Portable and Stationary Tools
Key Target Audience:-
Authorized Distributors and Dealers
Real Estate Construction Companies
Power Tools Sector
Time Period Captured in the Report:-
Historical Period: 2012-2018
Forecast Period: 2018-2023E
Stanley Black & Decker and Dewalt
Key Topics Covered in the Report:-
Value Chain Analysis
Electric Power Tools Market, 2013-2018
Electric Power Tools Market Segmentation, 2018
Decision Making Parameters
Porter Five Force Analysis
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