Advanced technologies and product innovations continue to reshape the power tools market with new product roll-outs focused on improving productivity and effectiveness with extended maintenance levels, lower costs, and longer run times.
The rising demand for automation and rapid industrialization has fostered the adoption of power tools in the construction, manufacturing, and domestic sectors. A substantial increase in disposable income and rise in do-it-yourself (DIY) activities have also fueled the adoption of power tools in the end-user segments. Although, the market for professional power tools is witnessing augmented adoption, it is subjected to several challenges including introduction of counterfeit products in the market and lack of technical expertise in operating sophisticated tools. The market experts at Infiniti will offer strategic insights into the power tools market in terms of the market size, drivers, segmentation, competition, and challenges.
The Business Challenge
An engineering and electronics company based out of Germany wanted to assess the market landscape for professional power tools in the target regions. The client wanted to validate the market in terms of the market size, market growth, and market share in the Middle Eastern and Eastern European countries. The client also wanted to derive insights into the segmentation of the market and identify high revenue-generating segment.
Our Research Methodology
To explore potential market opportunities, the market assessment experts carried out extensive primary research comprising of interviews and discussions with traditional trade dealers, wholesalers, manufacturers, analysts, competitors, and industry associations. As a part of the secondary research, the engagement collated information from external and proprietary information such as paid industry databases, relevant websites, company publications, and industry forums to perform a detailed analysis of the professional power tools market.
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Our Solution Helped the Client
- Assess broad range of product areas and segment the market based on product portfolio
- Identify the trends, drivers, and potential market opportunities
- Assess the competition in the market
- Understand the sales and sales growth of main competitors in the target countries
Benefits of Our Integrated Approach
Through a comprehensive market assessment, the client was able to identify the key stakeholders in the market and their shares in the current and the coming years. The client also gained a holistic view of the professional tools market by value and by volume. Moreover, the engagement helped the client identify the challenges and make informed decisions.
