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UK - Power Tools Accessories Market by Type, End-user and Distribution Channel - Forecast and Analysis 2024-2028

UK - Power Tools Accessories Market by Type, End-user and Distribution Channel - Forecast and Analysis 2024-2028

Published: Dec 2023 159 Pages SKU: IRTNTR71098

Market Overview at a Glance

$91.27 Mn
Market Opportunity
4.48%
CAGR
2.98
YoY growth 2023-2024(%)

UK - Power Tools Accessories Market 2024-2028

The UK - Power Tools Accessories Market size is forecast to increase by USD 91.27 million, at a CAGR of 4.48% between 2023 and 2028. The growth rate of the market depends on several factors, such as the growing demand for power tools and accessories for DIY projects, the increasing demand for professional end-user industries, and the growing popularity of cordless power tools.

The report offers extensive research analysis on the UK - Power Tools Accessories Market, with a categorization based on Type, including drill bits, screwdriver bits, router bits, and others. It further segments the market by End-user, encompassing professional and individuals. Additionally, the report provides Distribution Channel segmentation, covering offline and online. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.

UK Power Tools Accessories Market Forecasting

Power Tools Accessories Market in UK Size

UK Power Tools Accessories Market Forecast 2024-2028

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UK Power Tools Accessories Market Dynamics

Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the UK power tools accessories market growth analysis during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.    

Driver - Growing demand for power tools accessories for DIY projects

DIY projects can refer to all the activities that individuals including hobbyists, residents, amateurs, or enthusiasts perform themselves, such as modifying, upgrading, maintaining, and rebuilding their material possessions, including household appliances, automobiles, residences, and bicycles. In addition, DIY projects are performed using raw or semi-finished raw materials, suitable tools, and equipment with little or no assistance from professionals.

Moreover, with the increasing popularity of social media channels, more people are getting involved in DIY projects to demonstrate their creative skills. In addition, before hiring professionals or other labor for home repair jobs, brainstorming has become a part of life, especially for calculating the cost of professional plumbers, electricians, and mechanics. Hence, such factors are positively impacting the power tools accessories market in UK. Therefore, it is expected to drive the UK power tools accessories market growth during the forecast period.

Trends - Adoption of flexible battery systems and wireless charging in power tools

Some of the most well-established companies in the UK power tools accessories market have introduced flexible battery systems in their power tool offerings. In addition, power tools with a flexible battery system can be operated with a single type of battery that can produce different output voltages. Furthermore, this eliminates the need for the user to own a variety of batteries and allows the interchangeability of batteries between power tools that require different voltage outputs.

Moreover, wireless charging batteries for power tools were first launched by Robert Bosch GmBH. In addition, the company currently offers wireless charging batteries either with sales of new products or as a standalone charging kit comprising a wireless compatible battery and charger. Furthermore, the wireless charging kit can be used to replace the existing battery system in older models of cordless power tools. Hence, such factors are positively impacting the power tools accessories market in UK. Therefore, it is expected to drive the UK power tools accessories market growth during the forecast period.

Challenge - Influx of Chinese brands in market of UK

China is one of the major producers of power tools and accessories across the world. In addition, most companies in the power tools accessories market prefer to obtain a significant proportion of their finished power tools and accessories from contract manufacturers based in China. Furthermore, China supplies most of the power tool manufacturers in the UK with components and assemblies, including air motors, brushless motors, and Li-ion batteries.

Therefore, there is a well-developed power tool and accessories manufacturing ecosystem in China. In addition, the cost of producing power tools and accessories in China is considerably lower than that in the UK due to several reasons, such as the ready availability of raw materials, less costly labor, economies of scale, and lower research and development (R&D) and advertising budgets. Hence, as per the market forecast, such factors are negatively impacting the power tools accessories market in UK. Therefore, it is expected to hinder the UK power tools accessories market growth during the forecast period.

UK Power Tools Accessories Market Segmentation by Type, End-user, and Distribution Channel

Type Segment Analysis:

The drill bits segment is estimated to witness significant growth during the forecast period. Drills are available in various sizes and shapes and are capable of generating different types of holes in several different materials. In addition, to create holes, drill bits are typically attached to a drill, which allows them to cut through the workpiece, usually by rotation. Furthermore, drill bits are developed from different materials to suit their purpose.

Power Tools Accessories Market in UK Size

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The drill bits segment was the largest segment and was valued at USD 128.07 million in 2018. Even though almost all bits are developed from metal due to their toughness, the major difference comes in the metal composition. In addition, some common materials used in drill bits include high-speed steel (HSS), cobalt, carbides, and solid carbide. Furthermore, the coating used in drill bits includes black oxide, titanium nitrate, titanium aluminum nitrate, and bronze oxide. Moreover, twist bits are a type of drill bits that are mainly used to drill small holes into walls and wood. In addition, their unique design facilitates them to channel dust from the hole as they work. Hence, such factors are fuelling the growth of this segment which in turn drives the UK power tools accessories market growth during the forecast period.

End-user Segment  Analysis:

Based on the end-user, the segment is classified into professional and individual. The professional segment will account for the largest share of this segment. There is a significant growth of the professional segment of the power tools accessories market in the UK  due to the size of the construction, manufacturing, and automotive industries.  In addition, professionals are ready to pay premium prices for better quality and more durable cordless power tools, as these find continuous use. Moreover, they are also ready to use pneumatic and hydraulic power tools that are considered inefficient by ordinary consumers because of their high maintenance and the need for additional ancillary equipment. Furthermore, the growth of the professional market segment will be driven by the expansion of the construction, manufacturing, and automotive industries. Hence, such factors are fuelling the growth of this segment which in turn drives the UK power tools accessories market growth during the forecast period.

Who are the Major UK Power Tools Accessories Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Atlas Copco AB: The company offers power tools accessories such as adapters, air tool oils, and angle tool holders.

We also have detailed analyses of the market's competitive landscape and offer information on 20 market companies, including:

ANDREAS STIHL AG and Co. KG, Armeg Ltd., Bahco, Baker Hughes Co., Caterpillar Inc., Drill King International, Emerson Electric Co., Festool GmbH, Hilti AG, Jack Sealey Ltd., Koki Holdings Co. Ltd, KYOCERA Corp., Makita Corp., Robert Bosch GmbH, Sandvik AB, Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., The L.S. Starrett Co., and Tools4Trade

Technavio UK power tools accessories market research and growth report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. Market forecasting classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially focusing on the market report categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The UK power tools accessories market analysis and report forecasts market growth and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • Type Outlook 
    • Drill bits
    • Screwdriver bits
    • Router bits
    • Others
  • End-user Outlook 
    • Professional
    • Individual
  • Distribution Channel Outlook 
    • Offline
    • Online

UK Power Tools Accessories Market Scope

Report Coverage

Details

Page number

159

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.48%

Market Growth 2024-2028

USD 91.27 million

Market structure

Fragmented

YoY growth 2023-2024(%)

2.98

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ANDREAS STIHL AG and Co. KG, Armeg Ltd., Atlas Copco AB, Bahco, Baker Hughes Co., Caterpillar Inc., Drill King International, Emerson Electric Co., Festool GmbH, Hilti AG, Jack Sealey Ltd., Koki Holdings Co. Ltd, KYOCERA Corp., Makita Corp., Robert Bosch GmbH, Sandvik AB, Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., The L.S. Starrett Co., and Tools4Trade

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this UK Power Tools Accessories Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the UK power tools accessories market
    between 2024 and 2028
  • Precise estimation of the UK power tools accessories market growth and trends and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming UK power tools accessories market trends and analysis and changes in consumer behavior
  • UK power tools accessories market growth and market growth and forecasting across UK
  • A thorough analysis of the market's competitive landscape and detailed information about companies in market research report
  • Comprehensive analysis of factors that will challenge the growth of UK power tools accessories market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch

Table of Contents not available.

Research Methodology

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Frequently Asked Questions

Power Tools Accessoriesin UK market growth will increase by $ 91.27 mn during 2024-2028.

The Power Tools Accessoriesin UK market is expected to grow at a CAGR of 4.48% during 2024-2028.

Power Tools Accessoriesin UK market is segmented by Type( Drill bits, Screwdriver bits, Router bits, Others) End-user( Professional, Individual, Router bits, Others) Distribution Channel( Offline, Online)

ANDREAS STIHL AG and Co. KG, Armeg Ltd., Atlas Copco AB, Bahco, Baker Hughes Co., Caterpillar Inc., Drill King International, Emerson Electric Co., Festool GmbH, Hilti AG, Jack Sealey Ltd., Koki Holdings Co. Ltd, KYOCERA Corp., Makita Corp., Robert Bosch GmbH, Sandvik AB, Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., The L.S. Starrett Co., Tools4Trade are a few of the key vendors in the Power Tools Accessoriesin UK market.

Europe will register the highest growth rate of 100% among the other regions. Therefore, the Power Tools Accessoriesin UK market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.

UK, Europe

  • Growing demand for power tools accessories for DIY projectsDIY projects refer to all the activities that individuals such as hobbyists is the driving factor this market.
  • residents is the driving factor this market.
  • amateurs is the driving factor this market.
  • or enthusiasts perform themselves is the driving factor this market.
  • including modifying is the driving factor this market.
  • upgrading is the driving factor this market.
  • maintaining is the driving factor this market.
  • and rebuilding their material possessions is the driving factor this market.
  • such as household appliances is the driving factor this market.
  • automobiles is the driving factor this market.
  • residences is the driving factor this market.
  • and bicycles. DIY projects are performed using raw or semi-finished raw materials is the driving factor this market.
  • suitable tools is the driving factor this market.
  • and equipment with little or no assistance from professionals. Home improvement projects constitute the majority of the DIY projects. Some home improvement projects include replacing a shower faucet or refinishing the basement and attic. Home improvement projects include activities such as woodworking is the driving factor this market.
  • plumbing is the driving factor this market.
  • landscaping is the driving factor this market.
  • heating is the driving factor this market.
  • ventilation is the driving factor this market.
  • and air-conditioning (HVAC) utility repair works. A home is usually a life-long asset is the driving factor this market.
  • and the demand for DIY tools is the driving factor this market.
  • including power tools is the driving factor this market.
  • for home improvement projects is growing in the UK is the driving factor this market.
  • as the large and affluent middle class in the UK increasingly demands a better home space to ensure an improved standard of living. Moreover is the driving factor this market.
  • with the rising popularity of social media channels is the driving factor this market.
  • more people are getting involved in DIY projects to demonstrate their creative skills. Also is the driving factor this market.
  • before hiring professionals or other labor for home repair jobs is the driving factor this market.
  • brainstorming has become a part of life is the driving factor this market.
  • especially for calculating the cost of professional plumbers is the driving factor this market.
  • electricians is the driving factor this market.
  • and mechanics. Such factors will have a positive impact on the growth of the power tools accessories market in UK. These factors will drive the growth of the power tools accessories market in UK during the forecast period. is the driving factor this market.

The Power Tools Accessoriesin UK market vendors should focus on grabbing business opportunities from the Drill bits segment as it accounted for the largest market share in the base year.