Philippines Electric Power Tools market is an import driven market which is at its early growth stage. Power Tools industry revenue has grown at a positive CAGR during the period 2012-2018. This growth was facilitated by the growing economy of the country, especially the construction industry along with rising demand from industrial and residential sector in the country. The electric power tools have a significant share in the overall power tools market in Philippines.
The customers in the market are price sensitive and lack awareness about the importance of power tools which has resulted in low penetration in the market.
Philippines Electric Power Tools Market Segmentation
- By Application (Construction, Manufacturing and Others): Construction market that includes residential, farm, industrial, commercial, buildings, highways, streets and so forth dominated the power tools market in Philippines in terms of generating revenue in the year 2018. The evolving economy demanding huge infrastructure development along with the government aided projects to develop the country’s infrastructure owe to huge demand for Power Tools. On the other hand, manufacturing sector, small workshops, DIY enthusiasts, carpenters and other related jobs comparatively demanded for fewer tools due to the absence of entrepreneurial dynamism and awareness in the country.
- By Product Category (Premium, Medium and Low): Medium priced tools contributed a major share in terms of generating revenues for the industry in 2018. Medium Priced Tools are largely demanded by construction companies due to affordability and pricing of the tools; whereas premium priced products serving huge construction companies and low priced products catering to residential users and small repair shops accounted for the remaining share in the overall market revenue as of 2018.
- By Product (Grinders, Drills, Saws, Hammers and Others): Grinders contributed almost half of the revenue share in the overall electric power tools market in Philippines in the year 2018. This was followed by remaining half of the revenue share contribution combined from drills, saws, hammers, breakers, electric screwdrivers, routers and so forth leaving individual segment with minimal market share.
- By Distribution Channel (Direct Sales, Dealers and Retailer Sales and Online Sales): Distribution and Sales through Dealer and Retailers contributed the most to the overall revenue of the Power Tools Market in Philippines. Sales were mostly facilitated through this channel due to easy availability of tools and better reach to the end users. Huge construction companies have fixed dealers to facilitate their periodic purchasing that is a part of direct sales. On the other hand, online sales accounted a small share in the overall market due to lack of awareness and poor internet services in the country.
- By Region (Luzon, Visayas and Mindanao): Philippines is majorly divided into 3 regions- Luzon, Visayas and Mindanao with Luzon accounting to maximum revenue from sales of tools in 2018 because of leading distributors residing in the area.
- By Corded or Cordless Tools: Corded electric power tools accounted for maximum market share in 2018 with construction companies being its major end user. On the other hand, cordless tools accounted for less market share in terms of revenue due to lack of customer knowledge and high price of these tools.
- By Portable and Stationary Tools: Innovation of Lithium-ion batteries and mobility of power tools lead to increased demand for Portable Tools occupying majority of the market share as of 2018. On the other hand, lack of proper manufacturing stations and high cost of power tools were key reasons for reduced market share by stationary tools.
The Electric Power Tools Market in Philippines is highly concentrated. Makita is the market leader and has the highest market share on the basis of revenue in 2018. This was followed by Hilti, Bosch, Stanley Black & Decker and Dewalt and Others. These players compete in the Power Tools market in Philippines on the basis of price, availability, after sales service and brand image.
Philippines Electric Power Tools Market Future Outlook
In future, it is anticipated that Philippines Electric Power Tools market in terms of revenue will increase at a positive CAGR during the period 2018–2023E. Technological advancements such as Artificial Intelligence and Machine Learning will lead to manufacturing of tools that are easy to operate and safer to handle which will boost the usage of Electric Power Tools. Rising trend of DIY amongst residential users and improved internet connectivity in the country will also boost demand for power tools. It is expected that the demand for cordless tools will be further augmented due to increasing customer awareness on ease of handing, improved efficiency and internet penetration in the country. It is also expected that the emergence of local manufacturing firms will lead to augmented revenue from sales of Power Tools to manufacturing firms.
Key Target Audience
- Authorized Distributors and Dealers
- Real Estate Construction Companies
- Manufacturing companies
- Automobile companies
- Power Tools Sector
- Historical Period: 2012-2018
- Forecast Period: 2018-2023E
- Stanley Black & Decker and Dewalt
- Executive Summary
- Research Methodology
- Value Chain Analysis
- Electric Power Tools Market, 2013-2018
- Electric Power Tools Market Segmentation, 2018
- Decision Making Parameters
- Porter Five Force Analysis
- Competition Landscape
- Company Profiling
- Competitive Landscape
- Market Share of Major Companies
- Trends and Developments
- Trade Scenario of Power Tools
- Electric Power Tools Market Future Outlook, 2018-2023
- Future Segmentation Of Electric Power Tools Market, 2023E
- Analyst Recommendations
2. Research Methodology
2.2 Abbreviations Used
2.3 Market Size and Modelling
3. Value Chain Analysis
3.1 Role of Major Entities in Value Chain
4. Electric Power Tools Market, 2013-2018
4.1 Electric Power Tools Market Size, 2013-2018
4.2 Major Growth Drivers
4.3 Market Restraints
5. Electric Power Tools Market Segmentation, 2018
5.1 By Application (Construction, Manufacturing and Others), 2018
5.2 By Price Range (Premium, Medium and Low), 2018
5.3 By Product Type (Grinders, Saws, Drills, Hammer and Others), 2018
5.4 By Distribution Channel (Direct Sales, Dealer and Retailer Sales and Online Channel), 2018
5.5 By Region (Luzon, Visayas and Mindanao), 2018
5.6 By Corded or Cordless, 2018
5.7 By Portable and Stationary, 2018
6. Decision Making Parameters
7. Porter Five Forces Analysis
8. Competition Landscape
8.1 Competition Parameters
9. Company Profiles (Including Company Overview, Recent Developments, Business Strategy, Best Selling Products, Future Plans, Number of Employees and Revenue & Market Share, 2018)
9.4 Stanley Black & Decker and Dewalt
10. Competitive Analysis
10.1 Strength and Weakness of Major Companies
11. Market Share of Major Companies, 2018
12. Trends and Developments
12.1 Key Market Trends
13. Trade Scenario, 2013-2017
13.1 Export and Import, 2013-2017
14. Electric Power Tools Market Future Outlook, 2018-2023E
15. Future Segmentation of Electric Power Tools Market, 2018-2023E
15.1 By Application (Construction, Manufacturing and Others), 2023E
15.2 By Price Range (Premium, Medium and Low), 2023E
15.3 By Product (Grinders, Drills, Saws, Hammer and Others), 2023E
15.4 By Distribution Channel (Direct Sales, Dealer and Retailer Sales and Online Channel), 2023E
15.5 By Region (Luzon, Visayas and Mindanao), 2023E
15.6 By Corded or Cordless, 2023E
15.7 By Portable and Stationary Tools, 2023E
16. Analyst Recommendations