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Power Tools and Accessories: A Global Overview

Power Tools and Accessories: A Global Overview

26 Sep 2023

‘’Nothing is forever, if you have enough power tools. …'’ 

Power tools are a $70 billion global and growing business, to which you can typically add another $20 billion in accessories like cordless drills, hand tools, saws, garden tools and compressorss, and other power tool-type products. Power tool accessories refer to accessories used in various motorized, electric and pneumatic power tools. Drills, screwdrivers and routers, grinding wheels, saw blades, chippers and threading products are some of the more commonly used power tool accessories. These accessories are ergonomically designed to improve efficiency, comfort, battery performance and connectivity. They also help simplify repetitive tasks and minimize the potential for human error and injury. This allows them to find wide applications in various fields, including electronics, construction, logistics, manufacturing and aerospace. 

Power tools market. 

Before considering the prospects of the company, it makes sense to understand its scope. The main customers of the market are professional craftsmen, followed by users in the automotive, shipbuilding, aerospace and alternative energy industries. These categories account for about 70-75% of users, and the rest comes from the DIY market, which is significant only in North America, Europe, Australia and New Zealand. In Asia, Latin America and Africa, professional craftsmen dominate the market due to lower labor costs. In the accessory space, the professional market accounts for about 85-90% of the total, as tools are used much more intensively than in the DIY market. 

The road ahead for Power tools. 

Growth fundamentals appear strong. Construction is a major driver of power tools, and construction is booming in many parts of the world. In addition, government spending on infrastructure is high, disposable income is relatively good, and manual labor is constantly being replaced by power tools.   

One trend to watch involves battery platforms. Batteries have become a key consideration in the brand decision and purchasing process because when users choose a brand, they tend to buy tools of the same brand for different applications to cross-exist existing batteries and charging stations. But alliances of lithium-ion battery platforms for 18-volt tool families are starting to emerge in Europe. This means that the members of the alliance have agreed on a standard according to which the same batteries can be used in power tools of different brands and manufacturers. The universal use of the power supply can increase the market for everyone.  

About Boxer tools. 

Boxer has strategically diversified its business models to include unit management, online marketing and foreign trade. By doing this, we not only proved our adaptability, but also strengthened our position with high competitiveness.  

In an evolving business environment, it is necessary to stand out from others, and that is exactly what Boxer has done. By combining these different business models in the same industry, we have demonstrated our commitment to meet the changing needs of our customers and the market as a whole.  

One of our trademark is our focus on providing complete solutions rather than focusing on manufacturing. This approach covers all aspects of the product life cycle from development and design to manufacturing, sales and complete one-stop service. We believe that this holistic approach not only sets us apart from others, but also enables us to deliver superior value to our clients.  

At Boxer, we are not satisfied with the status quo. We understand that to stay competitive, you have to stay ahead. That is why our company has constantly invested in the latest technologies and tools. In doing so, we have positioned ourselves to provide state-of-the-art solutions that meet the ever-changing demands of the market.   

In an age where innovation and adaptability are paramount, Boxer is an excellent example of a company that has not only embraced change, but also thrived through it. Our commitment to versatile business models, commitment to providing end-to-end solutions and continuous investment in advanced tools ensure that we remain at the forefront of our industry, ready to meet the challenges and opportunities of the future.