May 27, 2024
New Zealand Power Tool Market
Ict

New Zealand Power Tool Market is estimated to witness considerable growth owing to rapid infrastructural development

The New Zealand power tool market has been growing at a moderate pace over the past few years. Power tools are widely used for drilling, sawing, routing, fastening, sanding and grinding applications in various end-use industries such as construction, manufacturing, and consumer products in New Zealand. Driven by rapid infrastructural development activities across the country, demand for power tools from the construction sector is expected to rise substantially during the forecast period.

Power tools streamline complex industrial tasks and improve work efficiency by offering drill, cut, polish and sand functionalities using electric motor power sources. They find extensive usage in applications such as assembly, material removal and general maintenance works. Growing construction of roads, bridges and commercial buildings generate high demand for power equipment among contractors and builders.

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.

The market is witnessing significant opportunities due to rising investments in public infrastructure projects and growth of small & medium enterprises in the country. The government is actively promoting Make in New Zealand initiatives to boost domestic manufacturing sector.

Major power tool companies are focusing on expanding their distributor networks and customer outreach programs across different regions of New Zealand. Global players are actively acquiring local brands to strengthen market presence and product portfolios.

Market Drivers

Rapid urbanization and growing population are driving large scale construction of residential and commercial buildings. This is resulting in high demand for power tools such as drills, saws, sanders among tradesman, general contractors and small scale industries. The government is strongly promoting local manufacturing under ‘Rebuild New Zealand’ program which is expected to boost power equipment adoption over the next decade.

Pest Analysis

Political: The political environment in New Zealand remains stable and business-friendly. The government supports various initiatives to promote energy efficiency and sustainability.
Economic: The New Zealand economy has been growing steadily in recent years, supported by a strong services sector. Rising disposable incomes are positively impacting demand for power tools in construction and DIY activities.
Social: Do-it-yourself (DIY) trend is gaining popularity among homeowners in New Zealand. People are spending more on power tools to carry out small repairs, renovations and maintenance works around houses.
Technological: Introduction of lithium-ion battery technology has enhanced the performance of cordless power tools. Manufacturers are focusing on developing tools with advanced ergonomics, lightweight designs and Bluetooth connectivity for usage monitoring.

The North Island region of New Zealand accounts for the major share of the country’s power tool market in terms of value. Home to the largest cities – Auckland and Wellington, the North Island has a higher population density and economic activity compared to the South Island. Construction and infrastructure development activities are concentrated more in the North Island urban centers, driving local demand for power tools.

The power tool market in New Zealand is expected to witness faster growth in the South Island region during the forecast period. Various local government projects are underway to improve connectivity and boost tourism infrastructure in South Island cities and towns. This will augment the requirements for equipment like drills, saws and sanders from construction contractors. The rising secondary home market is also strengthening the sales prospects for DIY power tools in the South Island.

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 behavior

:- 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?

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  1. Source: CoherentMI, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it