Philippines Power Tools Revenue: Ken Research

“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.

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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.

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

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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:-

Philippines Electric Power Tools Market

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Indonesia Power Tools Market Outlook to 2023 – By Type Of Technology (Electric Power Tools, Pneumatic Power Tools And Hydraulic Power Tools); By Channel Of Distribution (Dealer Network, Direct Sales And Online Sales) And By Region (Java, Sumatra, Kalimantan, Sulawesi And Others)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

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