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Technavio’s market research analyst predicts the global DIY tools market to grow steadily at a CAGR of above 3% by 2021. The exponential increase in the presence of retail stores such as hypermarkets, supermarkets, and specialty stores offering different DIY products, is the key driver responsible for the growth of the DIY tools market. The growing number of stores have compelled retailers to constantly come up with new ideas and innovative products for better user engagement. For instance, Home Depot offers various DIY projects and ideas allowing customers to perform DIY tasks by watching videos easily. It also offers suggestions on the type of tools that can be used to perform these activities.
The Americas held the largest share of the global DIY tools market in 2016. Due to the low popularity of the DIY culture in APAC, the market is highly concentrated in the western countries. One of the major reason for this dominance is the constant engagement of the North American consumers in home improvement. The increased proliferation of media in the form of cable TV, the Internet, and other knowledge centers allows customers to indulge in several projects. This growing importance of digitalization has played a major factor in boosting the sales of the segment. Digitalization has also, influenced millennials to increase their participation in the DIY culture, this rising interest is an indication that the region will continue to maintain dominance during the forecast period.
At present, the DIY tools market is highly fragmented due to the presence of both major and private players. Due to this competition, manufacturers are focusing on innovations to meet the varying buying trend of the consumer. The key factors intensifying this competition are low product differentiation and long product replacement cycles. As a result, pricing, distribution network, and brand recognition are of crucial importance to the vendors. With multiple product launches, price wars, and mergers and acquisitions the competition is expected to intensify over the forecast period.
Leading vendors in the market are -
The other prominent vendors in the DIY tools market include Atlas Copco, Baier, Casal Power Tools, Craftsman, Hitachi Koki, Husqvarna, IRWIN TOOLS, Klein, and Snap-on.
During 2016, the DIY power tools market dominated the DIY tools market and accounted for a major part of the overall market share. This dominance can be attributed to the significant acceptance in the professional segment. The key factor for this acceptance is the wide applications of power tools in the construction, automotive, and manufacturing sectors. Power tools are used for several tasks, such as screw driving, drilling, chiseling, routing, sanding, buffing, polishing, and leveling.
DIY stores have dominated the market in the retail format sales segment during 2016. However, it has been observed that over the past few years, the retailers in the market are adopting an omnichannel strategy to sell their products. Adeo stands as one of the leading players in this segment. In 2015, the company was the largest DIY retailer in France and the third largest on a global scale.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Global profile
PART 06: Market landscape
PART 07: Market segmentation by product
PART 08: Retail format sales
PART 09: Geographical segmentation
PART 10: Key leading countries
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Vendor landscape
PART 17: Appendix
PART 18: Explore Technavio
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