Abstract
This report covers power tools that are available through the primary retail channels of home improvement centers, lumberyards, and hardware stores. Power tools are defined as tools powered by electricity, batteries, or air (pneumatic) for use in building, construction, and home improvement.
Mintel expects the power tool market to top $10.5 billion in 2006, an increase of 23% since 2001. Home construction and renovation together with strong cordless tool sales propelled growth. Advances in Lithium-Ion technology have revolutionized cordless power tools making them lighter, more powerful and more reliable.
The industry is not without challenges. Ownership is strongly divided along the lines of marital status and homeownership. And, while the category has enjoyed a growing number of consumers with do-it-yourself interests and aspirations, many are still put off by the task of buying power tools. Among all Mintel survey respondents who have bought a power tool in the past two years, 61% say they enjoy shopping for power tools. However, this percentage drops to 39% among women.
In this report, Mintel clearly identifies the principal external factors driving or curtailing growth. Exclusive consumer research reveals the attitudes, needs and behavior of consumers, with analysis broken down both by demographic characteristics, and by segment.
Six years of specific sales data provide a factual and impartial presentation of the market as a whole. Mintel also evaluates the performance of individual sectors in the market, and provides information about the major companies and brands. Using the SPSS forecasting package, Mintel creates a five-year forecast of U.S. retail sales, revealing potential opportunities for growth and product development.
View Cart
