CHICAGO, June 20, 2023 /PRNewswire/ -- According to Arizton's latest research report, the benchtop tools market will grow at a CAGR of 5.42% during 2022-2028.
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Browse In-Depth TOC of the Benchtop Tools Market
67 - Tables?????????
74 - Charts?????????
238 - Pages??
The global market for benchtop tools is broad and ever-changing, with several manufacturers providing a range of items to suit various needs and price points. Benchtop tool industry leaders include DeWalt, Bosch, Delta, Jet, Ryobi, and Makita, to name a few. These businesses provide various products at various pricing points to accommodate varied requirements and budgets. The market for benchtop tools is anticipated to expand throughout the projected period. The rise in benchtop tool applications in the residential and commercial sectors and the speed with which industrialization is occurring have fueled the expansion of the worldwide benchtop tool market.
Moreover, infrastructure is a major sector that boosts the overall development of any nation's economy. There has been a significant rise in infrastructure development initiatives in several countries worldwide to cater to the rapid pace of urbanization and the considerable increase in demand for housing units in recent years. For instance, Saudi Arabia's latest budget shows that the government focuses on infrastructural reforms per the 2030 vision. The initiative aims to provide a dignified life for Saudi families by enabling them to own houses that match their requirements and financial capabilities. Thus, the surge in such infrastructure development initiatives will offer tremendous growth potential for vendors of benchtop tools.
Report Attributes | Details |
Market Size (2028) | USD 3.01 Billion |
Market Size (2022) | USD 2.20 Billion |
CAGR (2022-2028) | 5.42 % |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segmentation | Product, End User, Distribution Channel, and Geography |
Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
Countries Covered | The US, Canada, Germany, the UK, France, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, the Rest of Latin America, South Africa, Saudi Arabia, the UAE, and Turkey |
Market Dynamics | · Surge in E-commerce · Increasing Demand from the Woodworking Industry · Increase in Infrastructural Development Projects |
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Several benchtop tools are primarily used in the automobile, aerospace, construction, electronics, and shipbuilding industries. Moreover, these tools have various household applications, such as making furniture for décor and other DIY projects. The surge in Li-ion batteries and the rise in infrastructural developments have fueled the demand for cordless benchtop tools. The market can be broadly classified under segments, such as types of benchtop tools and end users. In terms of type, the major revenue contributors include sawing tools used in cutting and sawing. The industrial sector is the largest end-user of benchtop tools, followed by the residential end-user segment.
The benchtop tools market has a strong demand globally from industrial and residential segments. The major regions driving the market's growth are North America, Europe, and Asia Pacific. The US is the largest market for benchtop tools in North America. The demand for these tools is driven by the growth in the construction and woodworking industries and the DIY (do-it-yourself) trend among consumers. The market is also supported by the increasing adoption of advanced technologies, such as CNC (computer numerical control) machines, which provide precise and accurate results.
In Europe, Germany, the UK, and France are the major markets for benchtop tools. The growth in the automotive and construction industries drives the demand for these tools. The market is also supported by the increasing use of advanced materials, such as composites and alloys, requiring specialized cutting and shaping tools.
Rising Popularity of Benchtop CNC Machines Driving the Market Growth
Benchtop CNC machines have become increasingly popular, leading to demand for benchtop tools. CNC (Computer Numerical Control) machines are automated cutting machines that use a computer program to control their movement and cutting tools. CNC automatically operate parts such as lathes, grinders, routers, shapers, and other with the help of a computer rather than a human operator. They are often used in manufacturing, but benchtop CNC machines are smaller, more affordable, and designed for hobbyists and small businesses.
The availability of benchtop CNC machines has boosted the demand for benchtop tools for several reasons. First, benchtop CNC machines require tools, such as end mills, drill bits, and collets, specifically designed to work with the machine. These tools are often sold as part of a kit or bundle with the CNC machine, and users need to purchase additional tools as needed. This has led to an increased demand for benchtop tooling and accessories, which can be purchased from various online and offline retailers.
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North America became largest regional market, with a revenue of about $648.34 million in the global benchtop tools market in 2022. Large-scale enterprises like those in the automotive, building, electronics, and aerospace sectors have pushed benchtop tool sales in the region. Additionally, during the forecast period, DIY culture and home improvement activities are anticipated to expand dramatically. Benchtop tool demand is anticipated to increase significantly over the projected period because of the expansion of green construction standards, the rising cost of manual labor, high discretionary incomes, and the expansion of immigration rates.
With initiatives such as the Investing in Canada Plan, the Canadian government plans to improve the country's public transit and residential housing projects. Around 20 federal departments and agencies in the country collaborate with provinces, territories, municipalities, and indigenous groups to administer infrastructure development programs. With the reapproval of the Trans Mountain pipeline, the laying of the pipeline can be boosted in provinces such as Alberta. This will increase the scope for material removal and other benchtop tools in the country. Furthermore, DIY culture is highly predominant in North America. With rising applications of technology and increasing purchasing power, the benchtop tools market in North America is expected to grow significantly.
Key Questioned Answered in the Report:
- How big is the benchtop tools market?
- What is the growth rate of the global benchtop tools market?
- What are the growing trends in the benchtop tools market?
- Which region holds the most significant global benchtop tools market share?
- Who are the key players in the global benchtop tools market?
Key Company Profiles
- Robert Bosch
- Stanley Black & Decker
- Makita Corporation
- Techtronic Industries
- Koki Holdings
- Hilti
- CHERVON
- CHANG TYPE Industrial
- Festool
- Ferm International
- JPW Industries
- KYOCERA Corporation
- Laguna Tools
- POWERTEC
- Positec Tool Corporation
- PROXXON
- Richpower Industries
- Record Power
- RIKON Power Tools
- Triton Tools
- WEN Products
Market Segmentation
Product
- Sawing Tools
- Bench Drill Press
- Grinder & Sander
- Jointer, Planer & Router
- Others
End User
- Industrial
- Residential
Distribution Channel
- Offline
- Online
Geography
- North America
- The US
- Canada
- Europe
- Germany
- The UK
- France
- Italy
- Spain
- APAC
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- The UAE
- Turkey
Table Of Content
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY PRODUCT
4.3.2 MARKET SEGMENTATION BY END USER
4.3.3 MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
4.3.4 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
6.1 MARKET DEFINITION
6.2 REPORT OVERVIEW
6.3 RISK FACTORS IN THE MARKET
6.4 OPPORTUNITIES & CHALLENGE ANALYSIS
6.5 SEGMENT ANALYSIS
6.6 REGIONAL ANALYSIS
6.7 COMPETITIVE LANDSCAPE
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
8.2 RAW MATERIAL INSIGHTS
8.3 RISK FACTORS
8.3.1 PEST ANALYSIS
8.4 KEY INSIGHTS
8.5 IMPACT OF RECESSION ON PURCHASING BEHAVIOR
8.6 VALUE CHAIN ANALYSIS
8.6.1 RAW MATERIAL SUPPLIERS
8.6.2 MANUFACTURERS
8.6.3 DISTRIBUTORS
8.6.4 END-USERS
9 MARKET OPPORTUNITIES & TRENDS
9.1 GROWING ADOPTION OF POWER TOOLS
9.2 INCREASING DEMAND FROM HOME IMPROVEMENT & DIY SEGMENT
9.3 RISING POPULARITY OF BENCHTOP CNC MACHINES
10 MARKET GROWTH ENABLERS
10.1 SURGE IN E-COMMERCE
10.2 INCREASING DEMAND FROM THE WOODWORKING INDUSTRY
10.3 INCREASE IN INFRASTRUCTURAL DEVELOPMENT PROJECTS
11 MARKET RESTRAINTS
11.1 FLUCTUATIONS IN RAW MATERIAL PRICING
11.2 LOW LABOR COST & SUPPLY CHAIN DISRUPTIONS
11.3 HIGH COMPETITION & PRICE SENSITIVITY
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.1.1 SUPPLY SIDE FACTORS
12.1.2 DEMAND SIDE FACTORS
12.2 MARKET SIZE & FORECAST
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13 PRODUCT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 SAWING TOOLS
13.3.1 MARKET SIZE & FORECAST
13.3.2 MARKET BY GEOGRAPHY
13.4 BENCH DRILL PRESS
13.4.1 MARKET SIZE & FORECAST
13.4.2 MARKEY BY GEOGRAPHY
13.5 GRINDER & SANDER
13.5.1 MARKET SIZE & FORECAST
13.5.2 MARKET BY GEOGRAPHY
13.6 JOINTER, PLANER & ROUTER
13.6.1 MARKET SIZE & FORECAST
13.6.2 MARKET BY GEOGRAPHY
13.7 OTHERS
13.7.1 MARKET SIZE & FORECAST
13.7.2 MARKET BY GEOGRAPHY
14 END-USER
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 INDUSTRIAL
14.3.1 MARKET SIZE & FORECAST
14.3.2 MARKET BY GEOGRAPHY
14.4 RESIDENTIAL
14.4.1 MARKET SIZE & FORECAST
14.4.2 MARKET BY GEOGRAPHY
15 DISTRIBUTION CHANNEL
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 OFFLINE
15.3.1 MARKET SIZE & FORECAST
15.3.2 MARKET BY GEOGRAPHY
15.4 ONLINE
15.4.1 MARKET SIZE & FORECAST
15.4.2 MARKET BY GEOGRAPHY
16 GEOGRAPHY
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 GEOGRAPHIC OVERVIEW
17 NORTH AMERICA
17.1 MARKET OVERVIEW
17.2 MARKET SIZE & FORECAST
17.3 PRODUCT
17.3.1 MARKET SIZE & FORECAST
17.4 END USER
17.4.1 MARKET SIZE & FORECAST
17.5 DISTRIBUTION CHANNEL
17.5.1 MARKET SIZE & FORECAST
17.6 KEY COUNTRIES
17.6.1 US: MARKET SIZE & FORECAST
17.6.2 CANADA: MARKET SIZE & FORECAST
18 EUROPE
18.1 MARKET OVERVIEW
18.2 MARKET SIZE & FORECAST
18.3 PRODUCT
18.3.1 MARKET SIZE & FORECAST
18.4 END-USER
18.4.1 MARKET SIZE & FORECAST
18.5 DISTRIBUTION CHANNEL
18.5.1 MARKET SIZE & FORECAST
18.6 KEY COUNTRIES
18.6.1 GERMANY: MARKET SIZE & FORECAST
18.6.2 UK: MARKET SIZE & FORECAST
18.6.3 FRANCE: MARKET SIZE & FORECAST
18.6.4 ITALY: MARKET SIZE & FORECAST
18.6.5 SPAIN: MARKET SIZE & FORECAST
19 APAC
19.1 MARKET OVERVIEW
19.2 MARKET SIZE & FORECAST
19.3 PRODUCT
19.3.1 MARKET SIZE & FORECAST
19.4 END-USER
19.4.1 MARKET SIZE & FORECAST
19.5 DISTRIBUTION CHANNEL
19.5.1 MARKET SIZE & FORECAST
19.6 KEY COUNTRIES
19.6.1 CHINA: MARKET SIZE & FORECAST
19.6.2 INDIA: MARKET SIZE & FORECAST
19.6.3 JAPAN: MARKET SIZE & FORECAST
19.6.4 SOUTH KOREA: MARKET SIZE & FORECAST
19.6.5 AUSTRALIA: MARKET SIZE & FORECAST
20 LATIN AMERICA
20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.3 PRODUCT
20.3.1 MARKET SIZE & FORECAST
20.4 END USER
20.4.1 MARKET SIZE & FORECAST
20.5 DISTRIBUTION CHANNEL
20.5.1 MARKET SIZE & FORECAST
20.6 KEY COUNTRIES
20.6.1 BRAZIL: MARKET SIZE & FORECAST
20.6.2 MEXICO: MARKET SIZE & FORECAST
20.6.3 REST OF LAM: MARKET SIZE & FORECAST
21 MIDDLE EAST & AFRICA
21.1 MARKET OVERVIEW
21.2 MARKET SIZE & FORECAST
21.3 PRODUCT
21.3.1 MARKET SIZE & FORECAST
21.4 END-USER
21.4.1 MARKET SIZE & FORECAST
21.5 DISTRIBUTION CHANNEL
21.5.1 MARKET SIZE & FORECAST
21.6 KEY COUNTRIES
21.6.1 SOUTH AFRICA: MARKET SIZE & FORECAST
21.6.2 SAUDI ARABIA: MARKET SIZE & FORECAST
21.6.3 UAE: MARKET SIZE & FORECAST
21.6.4 TURKEY: MARKET SIZE & FORECAST
22 COMPETITIVE LANDSCAPE
22.1 COMPETITION OVERVIEW
23 KEY COMPANY PROFILES
23.1 ROBERT BOSCH
23.2 STANLEY BLACK & DECKER
23.3 MAKITA CORPORATION
23.4 TECHTRONIC INDUSTRIES
23.5 KOKI HOLDINGS
23.6 HILTI
24 OTHER PROMINENT VENDORS
24.1 CHERVON
24.2 CHANG TYPE INDUSTRIAL
24.3 FESTOOL
24.4 FERM INTERNATIONAL
24.5 JPW INDUSTRIES
24.6 KYOCERA CORPORATION
24.7 LAGUNA TOOLS
24.8 POWERTEC
24.9 POSITEC TOOL CORPORATION
24.10 PROXXON
24.11 RICHPOWER INDUSTRIES
24.12 RECORD POWER
24.13 RIKON POWER TOOLS
24.14 TRITON TOOLS
24.15 WEN PRODUCTS
25 REPORT SUMMARY
25.1 KEY TAKEAWAYS
25.2 STRATEGIC RECOMMENDATIONS
26 QUANTITATIVE SUMMARY
26.1 MARKET BY GEOGRAPHY
26.2 MARKET BY PRODUCT
26.3 MARKET BY END-USER
26.4 MARKET BY DISTRIBUTION CHANNEL
26.5 NORTH AMERICA
26.5.1 PRODUCT: MARKET SIZE & FORECAST
26.5.2 END USER: MARKET SIZE & FORECAST
26.5.3 DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
26.6 EUROPE
26.6.1 PRODUCT: MARKET SIZE & FORECAST
26.6.2 END-USER: MARKET SIZE & FORECAST
26.6.3 DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
26.7 APAC
26.7.1 PRODUCT: MARKET SIZE & FORECAST
26.7.2 END-USER: MARKET SIZE & FORECAST
26.7.3 DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
26.8 LATIN AMERICA
26.8.1 PRODUCT: MARKET SIZE & FORECAST
26.8.2 END-USER: MARKET SIZE & FORECAST
26.8.3 DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
26.9 MIDDLE EAST & AFRICA
26.9.1 PRODUCT: MARKET SIZE & FORECAST
26.9.2 END-USER: MARKET SIZE & FORECAST
26.9.3 DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
27 APPENDIX
27.1 ABBREVIATIONS
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