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

Published: Dec 2023 Pages: 159 SKU: IRTNTR71098

UK - Power Tools Accessories Market 2024-2028

The UK - Power Tools Accessories Market size is forecast to increase by USD 91.27 billion, 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 billion) for all the mentioned segments.

UK Power Tools Accessories Market Forecasting

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.

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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

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 07: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 08: Parent market
    • Exhibit 09: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 10: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 11: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 12: Chart on UK - Market size and forecast 2023-2028 ($ million)
      • Exhibit 13: Data Table on UK - Market size and forecast 2023-2028 ($ million)
      • Exhibit 14: Chart on UK: Year-over-year growth 2023-2028 (%)
      • Exhibit 15: Data Table on UK: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Power tools accessories market in UK 2018 - 2022
      • Exhibit 16: Historic Market Size – Data Table on power tools accessories market in UK 2018 - 2022 ($ million)
    • 4.2 Type Segment Analysis 2018 - 2022
      • Exhibit 17: Historic Market Size – Type Segment 2018 - 2022 ($ million)
    • 4.3 End-user Segment Analysis 2018 - 2022
      • Exhibit 18: Historic Market Size – End-user Segment 2018 - 2022 ($ million)
    • 4.4 Distribution Channel Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 20: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 23: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 24: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 25: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 26: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 27: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 28: Data Table on Type - Market share 2023-2028 (%)
    • 6.2 Comparison by Type
      • Exhibit 29: Chart on Comparison by Type
      • Exhibit 30: Data Table on Comparison by Type
    • 6.3 Drill bits - Market size and forecast 2023-2028
      • Exhibit 31: Chart on Drill bits - Market size and forecast 2023-2028 ($ million)
      • Exhibit 32: Data Table on Drill bits - Market size and forecast 2023-2028 ($ million)
      • Exhibit 33: Chart on Drill bits - Year-over-year growth 2023-2028 (%)
      • Exhibit 34: Data Table on Drill bits - Year-over-year growth 2023-2028 (%)
    • 6.4 Screwdriver bits - Market size and forecast 2023-2028
      • Exhibit 35: Chart on Screwdriver bits - Market size and forecast 2023-2028 ($ million)
      • Exhibit 36: Data Table on Screwdriver bits - Market size and forecast 2023-2028 ($ million)
      • Exhibit 37: Chart on Screwdriver bits - Year-over-year growth 2023-2028 (%)
      • Exhibit 38: Data Table on Screwdriver bits - Year-over-year growth 2023-2028 (%)
    • 6.5 Router bits - Market size and forecast 2023-2028
      • Exhibit 39: Chart on Router bits - Market size and forecast 2023-2028 ($ million)
      • Exhibit 40: Data Table on Router bits - Market size and forecast 2023-2028 ($ million)
      • Exhibit 41: Chart on Router bits - Year-over-year growth 2023-2028 (%)
      • Exhibit 42: Data Table on Router bits - Year-over-year growth 2023-2028 (%)
    • 6.6 Others - Market size and forecast 2023-2028
      • Exhibit 43: Chart on Others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 44: Data Table on Others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 45: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 46: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 6.7 Market opportunity by Type
      • Exhibit 47: Market opportunity by Type ($ million)
      • Exhibit 48: Data Table on Market opportunity by Type ($ million)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 49: Chart on End-user - Market share 2023-2028 (%)
      • Exhibit 50: Data Table on End-user - Market share 2023-2028 (%)
    • 7.2 Comparison by End-user
      • Exhibit 51: Chart on Comparison by End-user
      • Exhibit 52: Data Table on Comparison by End-user
    • 7.3 Professional - Market size and forecast 2023-2028
      • Exhibit 53: Chart on Professional - Market size and forecast 2023-2028 ($ million)
      • Exhibit 54: Data Table on Professional - Market size and forecast 2023-2028 ($ million)
      • Exhibit 55: Chart on Professional - Year-over-year growth 2023-2028 (%)
      • Exhibit 56: Data Table on Professional - Year-over-year growth 2023-2028 (%)
    • 7.4 Individual - Market size and forecast 2023-2028
      • Exhibit 57: Chart on Individual - Market size and forecast 2023-2028 ($ million)
      • Exhibit 58: Data Table on Individual - Market size and forecast 2023-2028 ($ million)
      • Exhibit 59: Chart on Individual - Year-over-year growth 2023-2028 (%)
      • Exhibit 60: Data Table on Individual - Year-over-year growth 2023-2028 (%)
    • 7.5 Market opportunity by End-user
      • Exhibit 61: Market opportunity by End-user ($ million)
      • Exhibit 62: Data Table on Market opportunity by End-user ($ million)

    8 Market Segmentation by Distribution Channel

    • 8.1 Market segments
      • Exhibit 63: Chart on Distribution Channel - Market share 2023-2028 (%)
      • Exhibit 64: Data Table on Distribution Channel - Market share 2023-2028 (%)
    • 8.2 Comparison by Distribution Channel
      • Exhibit 65: Chart on Comparison by Distribution Channel
      • Exhibit 66: Data Table on Comparison by Distribution Channel
    • 8.3 Offline - Market size and forecast 2023-2028
      • Exhibit 67: Chart on Offline - Market size and forecast 2023-2028 ($ million)
      • Exhibit 68: Data Table on Offline - Market size and forecast 2023-2028 ($ million)
      • Exhibit 69: Chart on Offline - Year-over-year growth 2023-2028 (%)
      • Exhibit 70: Data Table on Offline - Year-over-year growth 2023-2028 (%)
    • 8.4 Online - Market size and forecast 2023-2028
      • Exhibit 71: Chart on Online - Market size and forecast 2023-2028 ($ million)
      • Exhibit 72: Data Table on Online - Market size and forecast 2023-2028 ($ million)
      • Exhibit 73: Chart on Online - Year-over-year growth 2023-2028 (%)
      • Exhibit 74: Data Table on Online - Year-over-year growth 2023-2028 (%)
    • 8.5 Market opportunity by Distribution Channel
      • Exhibit 75: Market opportunity by Distribution Channel ($ million)
      • Exhibit 76: Data Table on Market opportunity by Distribution Channel ($ million)

    9 Customer Landscape

    • 9.1 Customer landscape overview
      • Exhibit 77: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 78: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 79: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 80: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 81: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 82: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 83: Matrix on vendor position and classification
            • 12.3 Atlas Copco AB
              • Exhibit 84: Atlas Copco AB - Overview
              • Exhibit 85: Atlas Copco AB - Business segments
              • Exhibit 86: Atlas Copco AB - Key news
              • Exhibit 87: Atlas Copco AB - Key offerings
              • Exhibit 88: Atlas Copco AB - Segment focus
            • 12.4 Bahco
              • Exhibit 89: Bahco - Overview
              • Exhibit 90: Bahco - Product / Service
              • Exhibit 91: Bahco - Key offerings
            • 12.5 Baker Hughes Co.
              • Exhibit 92: Baker Hughes Co. - Overview
              • Exhibit 93: Baker Hughes Co. - Business segments
              • Exhibit 94: Baker Hughes Co. - Key news
              • Exhibit 95: Baker Hughes Co. - Key offerings
              • Exhibit 96: Baker Hughes Co. - Segment focus
            • 12.6 Caterpillar Inc.
              • Exhibit 97: Caterpillar Inc. - Overview
              • Exhibit 98: Caterpillar Inc. - Business segments
              • Exhibit 99: Caterpillar Inc. - Key offerings
              • Exhibit 100: Caterpillar Inc. - Segment focus
            • 12.7 Drill King International
              • Exhibit 101: Drill King International - Overview
              • Exhibit 102: Drill King International - Product / Service
              • Exhibit 103: Drill King International - Key offerings
            • 12.8 Emerson Electric Co.
              • Exhibit 104: Emerson Electric Co. - Overview
              • Exhibit 105: Emerson Electric Co. - Business segments
              • Exhibit 106: Emerson Electric Co. - Key news
              • Exhibit 107: Emerson Electric Co. - Key offerings
              • Exhibit 108: Emerson Electric Co. - Segment focus
            • 12.9 Festool GmbH
              • Exhibit 109: Festool GmbH - Overview
              • Exhibit 110: Festool GmbH - Product / Service
              • Exhibit 111: Festool GmbH - Key offerings
            • 12.10 Hilti AG
              • Exhibit 112: Hilti AG - Overview
              • Exhibit 113: Hilti AG - Product / Service
              • Exhibit 114: Hilti AG - Key offerings
            • 12.11 Koki Holdings Co. Ltd
              • Exhibit 115: Koki Holdings Co. Ltd - Overview
              • Exhibit 116: Koki Holdings Co. Ltd - Product / Service
              • Exhibit 117: Koki Holdings Co. Ltd - Key offerings
            • 12.12 KYOCERA Corp.
              • Exhibit 118: KYOCERA Corp. - Overview
              • Exhibit 119: KYOCERA Corp. - Business segments
              • Exhibit 120: KYOCERA Corp. - Key news
              • Exhibit 121: KYOCERA Corp. - Key offerings
              • Exhibit 122: KYOCERA Corp. - Segment focus
            • 12.13 Makita Corp.
              • Exhibit 123: Makita Corp. - Overview
              • Exhibit 124: Makita Corp. - Business segments
              • Exhibit 125: Makita Corp. - Key offerings
              • Exhibit 126: Makita Corp. - Segment focus
            • 12.14 Robert Bosch GmbH
              • Exhibit 127: Robert Bosch GmbH - Overview
              • Exhibit 128: Robert Bosch GmbH - Business segments
              • Exhibit 129: Robert Bosch GmbH - Key news
              • Exhibit 130: Robert Bosch GmbH - Key offerings
              • Exhibit 131: Robert Bosch GmbH - Segment focus
            • 12.15 Sandvik AB
              • Exhibit 132: Sandvik AB - Overview
              • Exhibit 133: Sandvik AB - Business segments
              • Exhibit 134: Sandvik AB - Key news
              • Exhibit 135: Sandvik AB - Key offerings
              • Exhibit 136: Sandvik AB - Segment focus
            • 12.16 Stanley Black and Decker Inc.
              • Exhibit 137: Stanley Black and Decker Inc. - Overview
              • Exhibit 138: Stanley Black and Decker Inc. - Business segments
              • Exhibit 139: Stanley Black and Decker Inc. - Key news
              • Exhibit 140: Stanley Black and Decker Inc. - Key offerings
              • Exhibit 141: Stanley Black and Decker Inc. - Segment focus
            • 12.17 Techtronic Industries Co. Ltd.
              • Exhibit 142: Techtronic Industries Co. Ltd. - Overview
              • Exhibit 143: Techtronic Industries Co. Ltd. - Business segments
              • Exhibit 144: Techtronic Industries Co. Ltd. - Key offerings
              • Exhibit 145: Techtronic Industries Co. Ltd. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 146: Inclusions checklist
                • Exhibit 147: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 148: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 149: Research methodology
                • Exhibit 150: Validation techniques employed for market sizing
                • Exhibit 151: Information sources
              • 13.5 List of abbreviations
                • Exhibit 152: List of abbreviations

              Research Framework

              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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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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