June 13, 2024
New Zealand Power Tool Market
Ict

New Zealand Power Tool Market is Estimated to Witness High Growth Owing to Infrastructure Development

The New Zealand power tool market comprises power tools that are used for domestic as well as industrial applications. Power tools help in facilitating construction, manufacturing, and other industrial activities by enabling fastening, cutting, drilling, sanding, grinding, routing, and other operations. Some of the commonly used power tools in New Zealand include drills, saws, grinders, sanders, routers, and impact wrenches. Power tools offer advantages such as improved efficiency, control, and productivity over traditional hand tools. They find widespread adoption in various end-use industries like construction, woodworking, and manufacturing. The ongoing infrastructure development projects in the country and growth of the construction industry have fueled the demand for power tools.

The Global New Zealand Power Tool Market Size is estimated to be valued at US$ 167.2 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the New Zealand power tool market are Stanley Black & Decker, Bosch, Makita, Milwaukee Electric ToolTech, tronic Industries, Metabo HPT and Among Others. These players are focusing on new product launches and expansion strategies to gain a competitive edge in the market.
The market provides significant opportunities including the expanding construction, manufacturing, and infrastructure industries in the country. Government investments in infrastructure development and housing projects will propel market growth.
The power tools market in New Zealand is also witnessing rising global expansion. Leading manufacturers are investing in R&D to develop innovative product offerings and targeting international markets. Strategic mergers and acquisitions allow players to strengthen their foothold.

Market Drivers

The key driver for the growth of New Zealand’s power tool market is the ongoing infrastructure development projects in the country. The New Zealand government is investing heavily in building roads, rail networks, airports, and other infrastructure to support economic growth. This is positively impacting the demand for power tools from the construction industry. Furthermore, growth in the end-use industries like manufacturing, automotive, woodworking is also propelling the sales of power tools in the region. Innovation and product premiumization adopted by leading brands further aids the market expansion.

PEST Analysis

Political: The New Zealand government policies regarding safety standards for power tools may impact the adoption of new power tools in the domestic market. Strict enforcement of such standards can drive innovation in safety features.

Economic: The relatively high personal disposable incomes in New Zealand support demand for high-end power tools. Continued economic growth supports increased spending on construction and DIY home improvement projects.

Social: Power tools are valued for their ability to help complete both industrial and domestic tasks efficiently. Cordless power tools especially appeal to users seeking mobility and flexibility.

Technological: Advances in lithium-ion battery technology have enabled longer runtimes and improved charge cycles for cordless power tools. New tools also integrate features like adjustable speeds, ergonomic designs, and intelligence through sensors.

Geographical Concentration

In terms of value, the New Zealand power tool market is primarily concentrated across the North Island and South Island regions. Auckland is a major industrial and commercial hub driving demand from the construction, manufacturing and infrastructure industries. Other urban centers like Wellington and Christchurch also contribute significantly with their own residential and commercial construction booms currently underway.

Fastest Growing Region

The central North Island region centered around Hamilton is poised to be the fastest growing market for power tools in New Zealand through 2031. Significant commercial and residential development projects are planned or already commencing to accommodate the city’s swelling population. Power tool demand will rise accordingly from construction contractors as well as retail shoppers gearing up their home tool kits.

What Are The Key Data Covered In This New Zealand Power Tool Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the New Zealand Power Tool Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the New Zealand Power Tool Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- New Zealand Power Tool Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of New Zealand Power Tool Market vendors

FAQ’S

Q.1 What are the main factors influencing the New Zealand Power Tool market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top New Zealand Power Tool Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the New Zealand Power Tool market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it