North America Benchtop Tools Market 2024-2033 by Product Type (Cutting, Drilling, Grinding & Sanding), Application (Residential, Commercial, Industrial), Distribution Channel (Online, Offline), and Country: Trend Forecast and Growth Opportunity
- Report ID: 65644
- Date: May, 2024
- Pages: 97
- Category: Machinery & Equipment
North America benchtop tools market is projected to grow by 4.0% annually in the forecast period and reach $1.86 billion by 2032. The growth is driven by the rising construction projects, availability of new tools for benchtop work, and growing purchasing power.
Highlighted with 21 tables and 34 figures, this 97-page report “North America Benchtop Tools Market 2024-2033 by Product Type (Cutting, Drilling, Grinding & Sanding), Application (Residential, Commercial, Industrial), Distribution Channel (Online, Offline), and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire North America benchtop tools market and all its sub-segments through extensively detailed classifications.
Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2021-2023 and provides forecast from 2024 till 2033 with 2023 as the base year.
(Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of North America market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify North America benchtop tools market in every aspect of the classification from perspectives of Product Type, Application, Distribution Channel, and Country.
Based on Product Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.
• Cutting Tools
• Drilling Tools
• Grinding & Sanding Tools
• Jointers, Planers & Routers
• Other Products
Based on Application, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.
• Residential Use
• Commercial Use
• Industrial Use
• Other Applications
By Distribution Channel, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.
• Online Sales
• Offline Sales
Geographically, the following national/local markets are fully investigated:
• U.S.
• Canada
• Mexico
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2024-2033. The breakdown of national markets by Product Type, Application, and Distribution Channel over the forecast years are also included.
The report also covers the current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
3M Company
CRAFTSMAN
Ferm International
Festool
Hanley Wood Media Inc.
Hilti
JPW Industries
Koki Holdings America Ltd.
KYOCERA Corporation
Laguna Tools
Makita Corporation
Positec Tool Corporation
POWERTEC
PROXXON
Record Power
Richpower Industries Inc.
RIKON Power Tools
Robert Bosch Tool Corporation
Samtec Tools and Accessories Pvt. Ltd.
Stanley Black & Decker
Techtronic Industries
Triton Tools
WEN Products
(Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
1 Introduction 6
1.1 Industry Definition and Research Scope 6
1.1.1 Industry Definition 6
1.1.2 Research Scope 7
1.2 Research Methodology 10
1.2.1 Overview of Market Research Methodology 10
1.2.2 Market Assumption 11
1.2.3 Secondary Data 11
1.2.4 Primary Data 11
1.2.5 Data Filtration and Model Design 12
1.2.6 Market Size/Share Estimation 13
1.2.7 Research Limitations 14
1.3 Executive Summary 15
2 Market Overview and Dynamics 17
2.1 Market Size and Forecast 17
2.1.1 Impact of COVID-19 on World Economy 18
2.1.2 Impact of COVID-19 on the Market 21
2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery 23
2.2 Major Growth Drivers 27
2.3 Market Restraints and Challenges 31
2.4 Emerging Opportunities and Market Trends 34
2.5 Porter’s Fiver Forces Analysis 38
3 Segmentation of North America Market by Product Type 42
3.1 Market Overview by Product Type 42
3.2 Cutting Tools 44
3.3 Drilling Tools 45
3.4 Grinding & Sanding Tools 46
3.5 Jointers, Planers & Routers 47
3.6 Other Products 48
4 Segmentation of North America Market by Application 49
4.1 Market Overview by Application 49
4.2 Residential Use 51
4.3 Commercial Use 52
4.4 Industrial Use 53
4.5 Other Applications 54
5 Segmentation of North America Market by Distribution Channel 55
5.1 Market Overview by Distribution Channel 55
5.2 Online Sales 57
5.3 Offline Sales 58
6 North America Market 2022-2032 by Country 59
6.1 Overview of North America Market 59
6.2 U.S. 62
6.3 Canada 65
6.4 Mexico 67
7 Competitive Landscape 69
7.1 Overview of Key Vendors 69
7.2 New Product Launch, Partnership, Investment, and M&A 72
7.3 Company Profiles 73
3M Company 73
CRAFTSMAN 75
Ferm International 76
Festool 77
Hanley Wood Media Inc. 78
Hilti 79
JPW Industries 80
Koki Holdings America Ltd. 81
KYOCERA Corporation 82
Laguna Tools 83
Makita Corporation 84
Positec Tool Corporation 85
POWERTEC 86
PROXXON 87
Record Power 88
Richpower Industries Inc. 89
RIKON Power Tools 90
Robert Bosch Tool Corporation 91
Samtec Tools and Accessories Pvt. Ltd. 92
Stanley Black & Decker 93
Techtronic Industries 94
Triton Tools 95
WEN Products 96
RELATED REPORTS 97
List of Tables
Table 1. Snapshot of North America Benchtop Tools Market in Balanced Perspective, 2022-2032 16
Table 2. World Economic Outlook, 2021-2031 19
Table 3. World Economic Outlook, 2021-2023 20
Table 4. Scenarios for Economic Impact of Ukraine Crisis 24
Table 5. Main Product Trends and Market Opportunities in North America Benchtop Tools Market 34
Table 6. North America Benchtop Tools Market by Product Type, 2022-2032, $ mn 42
Table 7. North America Benchtop Tools Market by Application, 2022-2032, $ mn 49
Table 8. North America Benchtop Tools Market by Distribution Channel, 2022-2032, $ mn 55
Table 9. North America Benchtop Tools Market by Country, 2022-2032, $ mn 60
Table 10. U.S. Benchtop Tools Market by Product Type, 2022-2032, $ mn 64
Table 11. U.S. Benchtop Tools Market by Application, 2022-2032, $ mn 64
Table 12. U.S. Benchtop Tools Market by Distribution Channel, 2022-2032, $ mn 64
Table 13. Canada Benchtop Tools Market by Product Type, 2022-2032, $ mn 66
Table 14. Canada Benchtop Tools Market by Application, 2022-2032, $ mn 66
Table 15. Canada Benchtop Tools Market by Distribution Channel, 2022-2032, $ mn 66
Table 16. Mexico Benchtop Tools Market by Product Type, 2022-2032, $ mn 68
Table 17. Mexico Benchtop Tools Market by Application, 2022-2032, $ mn 68
Table 18. Mexico Benchtop Tools Market by Distribution Channel, 2022-2032, $ mn 68
Table 19. 3M Company: Company Snapshot 73
Table 20. 3M Company: Business Segmentation 74
Table 21. 3M Company: Product Portfolio 74
List of Figures
Figure 1. Research Method Flow Chart 10
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 13
Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032 15
Figure 4. North America Benchtop Tools Market, 2022-2032, $ mn 17
Figure 5. Impact of COVID-19 on Business 21
Figure 6. Primary Drivers and Impact Factors of North America Benchtop Tools Market 27
Figure 7. World Construction Industry, 2019-2030, $ trillion 30
Figure 8. Worldwide B2C E-commerce Market, 2019-2030, $ bn 30
Figure 9. Primary Restraints and Impact Factors of North America Benchtop Tools Market 31
Figure 10. Investment Opportunity Analysis 35
Figure 11. Porter’s Fiver Forces Analysis of North America Benchtop Tools Market 38
Figure 12. Breakdown of North America Benchtop Tools Market by Product Type, 2022-2032, % of Revenue 43
Figure 13. North America Addressable Market Cap in 2023-2032 by Product Type, Value ($ mn) and Share (%) 43
Figure 14. North America Benchtop Tools Market by Product Type: Cutting Tools, 2022-2032, $ mn 44
Figure 15. North America Benchtop Tools Market by Product Type: Drilling Tools, 2022-2032, $ mn 45
Figure 16. North America Benchtop Tools Market by Product Type: Grinding & Sanding Tools, 2022-2032, $ mn 46
Figure 17. North America Benchtop Tools Market by Product Type: Jointers, Planers & Routers, 2022-2032, $ mn 47
Figure 18. North America Benchtop Tools Market by Product Type: Other Products, 2022-2032, $ mn 48
Figure 19. Breakdown of North America Benchtop Tools Market by Application, 2022-2032, % of Sales Revenue 50
Figure 20. North America Addressable Market Cap in 2023-2032 by Application, Value ($ mn) and Share (%) 50
Figure 21. North America Benchtop Tools Market by Application: Residential Use, 2022-2032, $ mn 51
Figure 22. North America Benchtop Tools Market by Application: Commercial Use, 2022-2032, $ mn 52
Figure 23. North America Benchtop Tools Market by Application: Industrial Use, 2022-2032, $ mn 53
Figure 24. North America Benchtop Tools Market by Application: Other Applications, 2022-2032, $ mn 54
Figure 25. Breakdown of North America Benchtop Tools Market by Distribution Channel, 2022-2032, % of Sales Revenue 56
Figure 26. North America Addressable Market Cap in 2023-2032 by Distribution Channel, Value ($ mn) and Share (%) 56
Figure 27. North America Benchtop Tools Market by Distribution Channel: Online Sales, 2022-2032, $ mn 57
Figure 28. North America Benchtop Tools Market by Distribution Channel: Offline Sales, 2022-2032, $ mn 58
Figure 29. Breakdown of North America Benchtop Tools Market by Country, 2022 and 2032, % of Revenue 60
Figure 30. Contribution to North America 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 61
Figure 31. U.S. Benchtop Tools Market, 2022-2032, $ mn 63
Figure 32. Canada Benchtop Tools Market, 2022-2032, $ mn 65
Figure 33. Benchtop Tools Market in Mexico, 2022-2032, $ mn 67
Figure 34. Growth Stage of North America Benchtop Tools Industry over the Forecast Period 69
Research methodology is mainly referring to the practical how of any offered piece of research. More specifically, it’s all about how a researcher systematically designs a study in order to assure extremely valid as well as reliable results that ultimately address the targets and objectives of the research.
In any formal research including academic journal, article, dissertation and so on, there will be a special section on a research methodology that mainly describes what, by whom, how to gather as well as how to evaluate the data are provided.
This research methodology has been segmented into following types:
Primary Research:
It is said to be original information that the researchers collect for the crucial purposes of answering the research questions of readers with the help of surveys, observations and experiments.
Secondary Research:
The secondary research is the data that has already been collected by various other researchers in the form of government analysis or scientific studies.
Qualitative Research:
It is descriptive and subjective method irrespective of facts. Both observation and description are essential in this type of research methodology. Its main vision is to analyze knowledge, attitudes, behaviours as well as opinions of people related to the topic of any research. This method has been operated through grounded research, case study and actionable research.
Quantitative Research:
It contains several laboratory experiments, basic surveys, mathematical calculations, simulations and so on. The possible measurement, quantity or amount is considered to be a major factor in the quantitative research methodology.
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