Market Forecast By Tool Types (Drilling and Fastening Tools, Demolition Tools, Sawing and Cutting Tools, Material Removal Tools & Others), By Modes of Operation(Electric (Corded Tools, Cordless Tools, Pneumatic), By Applications (Industrial (Aerospace, Construction, Automotive, Energy), Residential), By Regions (Central Region, Western Region, Eastern Region, Southern Region) and Competitive Landscape
Product Code: ETC001554 | Publication Date: Mar 2023 | Updated Date: Jun 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
In the year 2021, China was the largest exporter in terms of value, followed by Germany. It has registered a growth of 26.86% over the previous year. While Germany registered a decline of -32.24% as compare to the previous year. In the year 2017 China was the largest exporter followed by Germany. In term of Herfindahl Index, which measures the competitiveness of countries exporting, Saudi Arabia has the Herfindahl index of 1842 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of 4028 which signifies high concentration in the market.
Saudi Arabia Power Tools Market Report systematically covers the market by tool types, modes of operation, applications, and regions including the central region, western region, eastern region, and southern region. The Saudi Arabia Power Tools market outlook provides an unbiased and detailed analysis of the ongoing global power tools market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Saudi Arabia Power Tools Market is estimated to grow steadily in the upcoming years on the back of several growth factors. The major drivers of growth for this market are growing construction and infrastructure activities owing to heavy investment. This has led to an increase in demand for power tools used in construction activities. Additionally, the Do-It-Yourself (DIY) culture is gaining popularity in Saudi Arabia, particularly among millennials. As a result, there has been an increase in demand for power tools for household repairs and maintenance. Saudi Arabia has been taking measures to diversify its economy, with an emphasis on the manufacturing sector.
Moreover, the manufacturers of power tools are constantly innovating and introducing new technologies to improve the performance and safety of their products. The government has been implementing various initiatives to support the growth of small and medium-sized enterprises (SMEs) in the country. Typically, the construction sector of Saudi Arabia is expanding progressively and heavy investment in the infrastructure projects such as the construction of airports, new cities, and railways. The government is actively supporting the development of the power tools market. Furthermore, several new products have been introduced in the Saudi Arabia power tools industry, including cordless power tools.
Saudi Arabia Power Tools Market is expected to gain momentum owing to rapid industrialization, growing investment in infrastructure development projects, and surging demand for electric vehicles in the country. Additionally, a surge in private investments, ongoing reforms in Saudi Arabia to explore avenues besides oil, as well as growing projects in the retail and commercial sector would lead to a surge in demand for the power tools market over the coming years.
The extensive usage of power tools in various sectors such as drilling, cutting and sawing and polishing is adding to the Saudi Arabia Power Tools Market Growth. The power tools are used in the residential and commercial sectors which are further proliferating the demand in the market. Moreover, strengthening the construction and automotive sector backed by the requirement for modern tools is propelling the Saudi Arabia Power Tools Market Share. The increasing development of infrastructure along with rising initiatives taken by the government in order to develop the country is accelerating the demand for power tools.
According to 6Wresearch, the Saudi Arabia Power Tools Market size is anticipated to register growth during 2020-2026. Vision 2030 together with National Transformation Program 2020 would increase government spending on defence, manufacturing equipment, and ammunition thereby leading to an expansion in the country’s power tools market during the forecast period. Moreover, the government plan for the development mega-city project that is currently under construction would lead to a surge in demand for power tools over the forecast period.
Growing advancement of technology coupled with the rising adoption of power tools for various purposes such as repair is adding to the Saudi Arabia Power Tools market share. Rising usage of cordless tools along with time-saving benefits. However, growing concerns regarding safety and security coupled with strict regulations and high maintenance costs are restraining the growth of the market
Based on modes of operation, electric tools dominate the market currently and are likely to uphold their position during the forecast period as well owing to the declining prices of the product along with ease of availability. Based on tool types, drilling and fastening tools occupy the highest share of the market, and an increase in the country’s construction activity is expected to drive the demand for drilling and fastening tools further.
Based on application, the construction segment is expected to dominate the overall Saudi Arabia Power Tools Market Growth owing to the growing construction sector and development of infrastructure.
The outburst of the coronavirus pandemic led to a decline in the growth of the industry owing to a nationwide lockdown that further disrupted the supply chain of power tools. Various restrictions imposed by the government led to a decline in the Saudi Arabia Power Tools Market Share. Shortage of employees also hampered the growth of the market.
Some of the key players in the Saudi Arabia Power Tools Market are:
The Saudi Arabia Power Tools Market report provides a detailed analysis of the following market segments:
1 Executive Summary |
2 Introduction |
2.1 Report Description |
2.2 Key Highlights |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Saudi Arabia Power Tools Market Overview |
3.1 Saudi Arabia Country Indicators3.2 Saudi Arabia Power Tools Market Revenues, 2016-2026F |
3.3 Saudi Arabia Power Tools Market Revenue Share, By Tool Types, 2019 & 2026F |
3.4 Saudi Arabia Power Tools Market Revenue Share, By Modes of Operation, 2019 & 2026F |
3.5 Saudi Arabia Power Tools Market Revenue Share, By Applications, 2019 & 2026F |
3.6 Saudi Arabia Power Tools Market Revenue Share, By Regions 2019 & 2026F |
3.7 Saudi Arabia Power Tools Market - Industry Life Cycle |
3.8 Saudi Arabia Power Tools Market - Porter’s Five Forces |
4 Saudi Arabia Power Tools Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Saudi Arabia Power Tools Market Trends |
6 Saudi Arabia Power Tools Market Overview, By Tool Types |
6.1 Saudi Arabia Drilling and Fastening Tools Market Revenues, 2016-2026F |
6.2 Saudi Arabia Demolition Tools Market Revenues, 2016-2026F |
6.3 Saudi Arabia Sawing and Cutting Tools Market Revenues, 2016-2026F |
6.4 Saudi Arabia Material Removal Tools Market Revenues, 2016-2026F |
6.5 Saudi Arabia Other Power Tools Market Revenues, 2016-2026F |
7 Saudi Arabia Power Tools Market Overview, By Applications |
7.1 Saudi Arabia Power Tools Market Revenues, By Industrial Application, 2016-2026F |
7.2 Saudi Arabia Industrial Application Power Tools Market Revenues, By Types, 2016-2026F |
7.2.1 Saudi Arabia Power Tools Market Revenues, By Construction Industrial Application, 2016-2026F |
7.2.2 Saudi Arabia Power Tools Market Revenues, By Aerospace Industrial Application, 2016-2026F |
7.2.3 Saudi Arabia Power Tools Market Revenues, By Automotive Industrial Application, 2016-2026F |
7.2.4 Saudi Arabia Power Tools Market Revenues, By Energy Industrial Application, 2016-2026F |
7.2.5 Saudi Arabia Power Tools Market Revenues, By Other Industrial Application, 2016-2026F |
7.3 Saudi Arabia Power Tools Market Revenues, By Residential Application, 2016-2026F |
8 Saudi Arabia Power Tools Market Overview, By Modes of Operation |
8.1 Saudi Arabia Electric Power Tools Market Revenues, 2016-2026F |
8.2 Saudi Arabia Electric Power Tools Market Revenues, By Types, 2016-2026F |
8.2.2 Saudi Arabia Corded Electric Power Tools Market Revenues, 2016-2026F |
8.2.3 Saudi Arabia Cordless Electric Power Market Revenues, 2016-2026F |
8.3 Saudi Arabia Pneumatic Power Tools Market Revenues, 2016-2026F |
9 Saudi Arabia Power Tools Market Overview, By Regions |
9.1 Saudi Arabia Power Tools Market Revenues, By Central Region, 2016-2026F |
9.2 Saudi Arabia Power Tools Market Revenues, By Western Region 2016-2026F |
9.3 Saudi Arabia Power Tools Market Revenues, By Eastern Region, 2016-2026F |
9.4 Saudi Arabia Power Tools Market Revenues, By Southern Region, 2016-2026F |
10 Saudi Arabia Power Tools Market Key Performance Indicators |
11 Saudi Arabia Power Tools Market - Opportunity Assessment |
11.1 Saudi Arabia Power Tools Market Opportunity Assessment, By Tool Types, 2026F |
11.2 Saudi Arabia Power Tools Market Opportunity Assessment, By, Applications, 2026F |
11.3 Saudi Arabia Power Tools Market Opportunity Assessment, By Modes of Operation, 2026F |
12 Saudi Arabia Power Tools Market Competitive Landscape |
12.1 Saudi Arabia Power Tools Market Revenue Share, By Companies, 2019 |
12.2 Saudi Arabia Power Tools Market Competitive Benchmarking, By Operating Parameters |
13 Company Profiles |
14 Strategic Recommendations |
15 Disclaimer |