“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.
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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.
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.
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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.
Keywords:-
Asia Power Tools Market
Asia Electric Power Tools Market
Philippines Power Tools Market
Philippines Electric Power Tools Market
Power Tools Sales Philippines
Corded Electric Power Tools Philippines
Cordless Electric Power Tools Philippines
Power Tools Manufacturer Philippines
Philippines Construction Projects
Cordless Power Tools Philippines
Power Tool Dealers Philippines
Philippines Electric Hammers Market
Direct Sales Power Tools Philippines
Makita Market Share Power Tools Philippines
Power Tool Retailer Philippines
DIY Power Tool Market Philippines
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
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
Related Reports:-
Global DIY Power Tools Market Status And Future Forecast 2015-2024
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
