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January 09, 2006
U.S. Power Tools Market to Surge Past $11 Billion by 2010
The U.S. Market for Power Tools , a new report from Specialists in Business Information, analyzes strategies to boost growth and profit margins in this $8.6 billion industry. This updated report analyses and explores the past, present, and projected sales of electric, battery-powered, hydraulic, pneumatic, other power hand tools and accessories.
New York (PRWEB) January 7, 2006 -- Bolstered by a booming construction industry and America’s fascination with Do-It-Yourself home improvement projects, the power tools market is expected to continue it’s current growth spurt well into the next decade, with sales projected to surpass $11 billion by 2010, according to The U.S. Market for Power Tools, a new report from market research publisher Specialists in Business Information (SBI), a division of MarketResearch.com.
With sales topping $8.6 billion in 2005, SBI projects the market for saws, sanders, drills, planers, routers, and other power tools will grow at a compounded annual growth rate of 5.1% over the next five years. The market has been led by strong sales of electric saws and pneumatic hand-nailers, but future growth will depend on the success of the cordless power tools segment, a favorite in both the DIY and professional sectors.
Market-wide design and power source innovations—such as improved dust collection, laser-enabled products, ergonomic enhancements, the inclusion of lithium-ion batteries, and re-designs allowing multiple tools to share the same battery source—are also helping to invigorate the market.
“Marketers have really hit a home run by increasing the versatility and power of battery sources in the cordless segment and focusing on high-tech anti-theft technologies, which is proving very popular in the professional market, where theft is a big issue,” said Don Montuori, the publisher of SBI. “In addition, with heavy imports of high-quality, low-cost tools making them very affordable for the average homeowner, as well as increased exposure through ad spends and home improvement television, power tools have an exceptionally positive self image that makes them irresistible to even the most timid of consumers.”
Containing comprehensive data on U.S. shipments, imports and exports, end-use markets, purchaser demographics, and the competitive environment, The U.S. Market for Power Tools identifies key issues and trends affecting the marketplace, and profiles major marketers along with manufacturer and retailer. Priced at $3,000, this report can be purchased directly from SBI by clicking: http://www.marketresearch.com/product/display.asp?xs=r&productid=1187418. It is also available at MarketResearch.com.
About Specialists in Business Information
Specialists in Business Information (SBI), a division of MarketResearch.com, publishes research reports in the industrial, construction, materials, and consumer goods markets. For more information visit http://www.marketresearch.com/vendors/viewvendor.asp?SID=89381101-333751516-381123633&VendorID=775, or contact Tom Ehart at 240-747-3014.
Posted by Industrial-Manufacturing at January 9, 2006 04:36 AM