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European Woodworking Power Tools Market Is Expected To Be Worth US$ 363.9 Million Through 2030, Future Market Insights
According to a new study by Future Market Insights, the rise of the European woodworking power tools market has been largely associated with the region’s construction and carpentry sectors (FMI). The European woodworking power tools market is expected to be worth US$ 363.9 million in 2030, with Germany, the United Kingdom, and France leading the way.
The EU is increasing its efforts to prevent climate change and reduce its carbon footprint, and the European timber sector is investing and legislating towards sustainable forest sources in terms of local wood and imports, which could indirectly influence pricing of woodworking operations and associated power tool sales, according to the report.
According to the report, market participants can increasingly focus their offerings on repair, renovation, and maintenance applications to broaden the market.
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Key Takeaways
- Planers power tools to witness greater traction through 2030 on the back of furniture applications.
- Cordless woodworking power tools to remain lucrative through the forecast period, with demand from DIYers, and operational convenience benefits providing impetus.
- Commercial tradesmen such as carpenters, masons and joiners to witness for significant demand.
- Online sales are expected to display higher growth rates, on the back of DIYers, wider product range, and offers & discounts.
- Germany is a highly lucrative market for woodworking power tools, owing to the steady growth of the non-residential construction sector and the presence of major players.
“In line with the rapid surge in demand for smart technologies and connectivity in woodworking, major market players in Europe have been using their expertise in developing sensor technology, services, and software to provide power tool solutions across domains to customers,” says analyst at FMI.
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Europe Woodworking Power Tools market segment
Product Type
- Drills
- Planers
- Grinders
- Saws
- Cutters
- Sanders
- Routers
- Screwdrivers
- Wrenches
- Chasers
- Others
Configuration
- Corded Power Tools
- Cordless Power Tools
End User
- Industrial Enterprises
- Commercial Carpenters, Joiners, and Masonry
- Service Providers
- DIY/Individual
Sales Channel
- Online Sales
- B2C Platform
- B2B Platform
- Offline Sales
- Bulk Suppliers
- Retail Suppliers
Region
- Germany
- Italy
- France
- U.K.
- Spain
- BENELUX
- Russia
- Poland
- Czech Republic
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Competitive Intelligence
The European woodworking power tools market is largely fragmented and competitive, and leading players are focusing on geographical and product line expansions, with acquisitions serving growing diversity in applications. For example,
- Stanley Black and Decker has acquired the Irwin and Lenox tool brands for portfolio expansion in power tools and the consolidation of retail and industrial distribution channels in previously untapped areas.
- Robert Bosch GmbH, has invested 1.6 billion in north-eastern Hungary for a power tools manufacturing plant, in addition to entering a partnership aiming towards the standardization of power source designs with Gardena GmbH.
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About Us:
Future Market
Insights (ESOMAR certified market research organization and
a member of Greater New York Chamber of Commerce) provides
in-depth insights into governing factors elevating the
demand in the market. It discloses opportunities that will
favor the market growth in various segments on the basis of
Source, Application, Sales Channel and End Use over the next
10-years.
Future Market Insights
Future Market Insights is the premier provider of market intelligence and consulting services
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, UAE, and has its global delivery center in India. In addition to these, FMI also carries out business development and client engagement through its US and UK offices.
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