Benchtop Tools Market to Worth $3 Billion by 2028, Adoption of Benchtop CNC Machines to Boost the Market sales in the Upcoming Years - Arizton

CHICAGO, June 20, 2023 /PRNewswire/ -- According to Arizton's latest research report, the benchtop tools market will grow at a CAGR of 5.42% during 2022-2028.

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Browse In-Depth TOC of the Benchtop Tools Market   
67 - Tables          
74 - Charts         
238 – Pages   

The global market for benchtop tools is broad and ever-changing, with several manufacturers providing a range of items to suit various needs and price points. Benchtop tool industry leaders include DeWalt, Bosch, Delta, Jet, Ryobi, and Makita, to name a few. These businesses provide various products at various pricing points to accommodate varied requirements and budgets. The market for benchtop tools is anticipated to expand throughout the projected period. The rise in benchtop tool applications in the residential and commercial sectors and the speed with which industrialization is occurring have fueled the expansion of the worldwide benchtop tool market.

Moreover, infrastructure is a major sector that boosts the overall development of any nation's economy. There has been a significant rise in infrastructure development initiatives in several countries worldwide to cater to the rapid pace of urbanization and the considerable increase in demand for housing units in recent years. For instance, Saudi Arabia's latest budget shows that the government focuses on infrastructural reforms per the 2030 vision. The initiative aims to provide a dignified life for Saudi families by enabling them to own houses that match their requirements and financial capabilities. Thus, the surge in such infrastructure development initiatives will offer tremendous growth potential for vendors of benchtop tools.

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Several benchtop tools are primarily used in the automobile, aerospace, construction, electronics, and shipbuilding industries. Moreover, these tools have various household applications, such as making furniture for décor and other DIY projects. The surge in Li-ion batteries and the rise in infrastructural developments have fueled the demand for cordless benchtop tools. The market can be broadly classified under segments, such as types of benchtop tools and end users. In terms of type, the major revenue contributors include sawing tools used in cutting and sawing. The industrial sector is the largest end-user of benchtop tools, followed by the residential end-user segment.

The benchtop tools market has a strong demand globally from industrial and residential segments. The major regions driving the market's growth are North America, Europe, and Asia Pacific. The US is the largest market for benchtop tools in North America. The demand for these tools is driven by the growth in the construction and woodworking industries and the DIY (do-it-yourself) trend among consumers. The market is also supported by the increasing adoption of advanced technologies, such as CNC (computer numerical control) machines, which provide precise and accurate results.

In Europe, Germany, the UK, and France are the major markets for benchtop tools. The growth in the automotive and construction industries drives the demand for these tools. The market is also supported by the increasing use of advanced materials, such as composites and alloys, requiring specialized cutting and shaping tools.

Rising Popularity of Benchtop CNC Machines Driving the Market Growth
Benchtop CNC machines have become increasingly popular, leading to demand for benchtop tools. CNC (Computer Numerical Control) machines are automated cutting machines that use a computer program to control their movement and cutting tools. CNC automatically operate parts such as lathes, grinders, routers, shapers, and other with the help of a computer rather than a human operator. They are often used in manufacturing, but benchtop CNC machines are smaller, more affordable, and designed for hobbyists and small businesses.

The availability of benchtop CNC machines has boosted the demand for benchtop tools for several reasons. First, benchtop CNC machines require tools, such as end mills, drill bits, and collets, specifically designed to work with the machine. These tools are often sold as part of a kit or bundle with the CNC machine, and users need to purchase additional tools as needed. This has led to an increased demand for benchtop tooling and accessories, which can be purchased from various online and offline retailers.

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North America became  largest regional market, with a revenue of about $648.34 million in the global benchtop tools market in 2022. Large-scale enterprises like those in the automotive, building, electronics, and aerospace sectors have pushed benchtop tool sales in the region. Additionally, during the forecast period, DIY culture and home improvement activities are anticipated to expand dramatically. Benchtop tool demand is anticipated to increase significantly over the projected period because of the expansion of green construction standards, the rising cost of manual labor, high discretionary incomes, and the expansion of immigration rates.

With initiatives such as the Investing in Canada Plan, the Canadian government plans to improve the country's public transit and residential housing projects. Around 20 federal departments and agencies in the country collaborate with provinces, territories, municipalities, and indigenous groups to administer infrastructure development programs. With the reapproval of the Trans Mountain pipeline, the laying of the pipeline can be boosted in provinces such as Alberta. This will increase the scope for material removal and other benchtop tools in the country. Furthermore, DIY culture is highly predominant in North America. With rising applications of technology and increasing purchasing power, the benchtop tools market in North America is expected to grow significantly.

Key Questioned Answered in the Report:

• How big is the benchtop tools market?
• What is the growth rate of the global benchtop tools market?
• What are the growing trends in the benchtop tools market?
• Which region holds the most significant global benchtop tools market share?
• Who are the key players in the global benchtop tools market?

Key Company Profiles

• Robert Bosch
• Stanley Black & Decker
• Makita Corporation
• Techtronic Industries
• Koki Holdings
• Hilti
• CHERVON
• CHANG TYPE Industrial
• Festool
• Ferm International
• JPW Industries
• KYOCERA Corporation
• Laguna Tools
• POWERTEC
• Positec Tool Corporation
• PROXXON
• Richpower Industries
• Record Power
• RIKON Power Tools
• Triton Tools
• WEN Products

Market Segmentation

Product

• Sawing Tools
• Bench Drill Press
• Grinder & Sander
• Jointer, Planer & Router
• Others

End User

• Industrial
• Residential

Distribution Channel

• Offline
• Online

Geography

• North America
• The US
• Canada
• Europe
• Germany
• The UK
• France
• Italy
• Spain
• APAC
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• South Africa
• Saudi Arabia
• The UAE
• Turkey

Table Of Content

1 RESEARCH METHODOLOGY 

2 RESEARCH OBJECTIVES 

3 RESEARCH PROCESS 

4 SCOPE & COVERAGE 

4.1 MARKET DEFINITION 

4.1.1 INCLUSIONS 

4.1.2 EXCLUSIONS 

4.1.3 MARKET ESTIMATION CAVEATS 

4.2 BASE YEAR 

4.3 SCOPE OF THE STUDY 

4.3.1 MARKET SEGMENTATION BY PRODUCT 

4.3.2 MARKET SEGMENTATION BY END USER 

4.3.3 MARKET SEGMENTATION BY DISTRIBUTION CHANNEL 

4.3.4 MARKET SEGMENTATION BY GEOGRAPHY 

5 REPORT ASSUMPTIONS & CAVEATS 

5.1 KEY CAVEATS 

5.2 CURRENCY CONVERSION 

5.3 MARKET DERIVATION 

6 PREMIUM INSIGHTS 

6.1 MARKET DEFINITION 

6.2 REPORT OVERVIEW 

6.3 RISK FACTORS IN THE MARKET 

6.4 OPPORTUNITIES & CHALLENGE ANALYSIS 

6.5 SEGMENT ANALYSIS 

6.6 REGIONAL ANALYSIS 

6.7 COMPETITIVE LANDSCAPE 

7 MARKET AT A GLANCE 

8 INTRODUCTION 

8.1 OVERVIEW 

8.2 RAW MATERIAL INSIGHTS 

8.3 RISK FACTORS 

8.3.1 PEST ANALYSIS 

8.4 KEY INSIGHTS 

8.5 IMPACT OF RECESSION ON PURCHASING BEHAVIOR 

8.6 VALUE CHAIN ANALYSIS 

8.6.1 RAW MATERIAL SUPPLIERS 

8.6.2 MANUFACTURERS 

8.6.3 DISTRIBUTORS 

8.6.4 END-USERS 

9 MARKET OPPORTUNITIES & TRENDS 

9.1 GROWING ADOPTION OF POWER TOOLS 

9.2 INCREASING DEMAND FROM HOME IMPROVEMENT & DIY SEGMENT 

9.3 RISING POPULARITY OF BENCHTOP CNC MACHINES 

10 MARKET GROWTH ENABLERS 

10.1 SURGE IN E-COMMERCE 

10.2 INCREASING DEMAND FROM THE WOODWORKING INDUSTRY 

10.3 INCREASE IN INFRASTRUCTURAL DEVELOPMENT PROJECTS 

11 MARKET RESTRAINTS 

11.1 FLUCTUATIONS IN RAW MATERIAL PRICING 

11.2 LOW LABOR COST & SUPPLY CHAIN DISRUPTIONS 

11.3 HIGH COMPETITION & PRICE SENSITIVITY 

12 MARKET LANDSCAPE 

12.1 MARKET OVERVIEW 

12.1.1 SUPPLY SIDE FACTORS 

12.1.2 DEMAND SIDE FACTORS 

12.2 MARKET SIZE & FORECAST 

12.3 FIVE FORCES ANALYSIS 

12.3.1 THREAT OF NEW ENTRANTS 

12.3.2 BARGAINING POWER OF SUPPLIERS 

12.3.3 BARGAINING POWER OF BUYERS 

12.3.4 THREAT OF SUBSTITUTES 

12.3.5 COMPETITIVE RIVALRY 

13 PRODUCT 

13.1 MARKET SNAPSHOT & GROWTH ENGINE 

13.2 MARKET OVERVIEW 

13.3 SAWING TOOLS 

13.3.1 MARKET SIZE & FORECAST 

13.3.2 MARKET BY GEOGRAPHY 

13.4 BENCH DRILL PRESS 

13.4.1 MARKET SIZE & FORECAST 

13.4.2 MARKEY BY GEOGRAPHY 

13.5 GRINDER & SANDER 

13.5.1 MARKET SIZE & FORECAST 

13.5.2 MARKET BY GEOGRAPHY 

13.6 JOINTER, PLANER & ROUTER 

13.6.1 MARKET SIZE & FORECAST 

13.6.2 MARKET BY GEOGRAPHY 

13.7 OTHERS 

13.7.1 MARKET SIZE & FORECAST 

13.7.2 MARKET BY GEOGRAPHY 

14 END-USER 

14.1 MARKET SNAPSHOT & GROWTH ENGINE 

14.2 MARKET OVERVIEW 

14.3 INDUSTRIAL 

14.3.1 MARKET SIZE & FORECAST 

14.3.2 MARKET BY GEOGRAPHY 

14.4 RESIDENTIAL 

14.4.1 MARKET SIZE & FORECAST 

14.4.2 MARKET BY GEOGRAPHY 

15 DISTRIBUTION CHANNEL 

15.1 MARKET SNAPSHOT & GROWTH ENGINE 

15.2 MARKET OVERVIEW 

15.3 OFFLINE 

15.3.1 MARKET SIZE & FORECAST 

15.3.2 MARKET BY GEOGRAPHY 

15.4 ONLINE 

15.4.1 MARKET SIZE & FORECAST 

15.4.2 MARKET BY GEOGRAPHY 

16 GEOGRAPHY 

16.1 MARKET SNAPSHOT & GROWTH ENGINE 

16.2 GEOGRAPHIC OVERVIEW 

17 NORTH AMERICA 

17.1 MARKET OVERVIEW 

17.2 MARKET SIZE & FORECAST 

17.3 PRODUCT 

17.3.1 MARKET SIZE & FORECAST 

17.4 END USER 

17.4.1 MARKET SIZE & FORECAST 

17.5 DISTRIBUTION CHANNEL 

17.5.1 MARKET SIZE & FORECAST 

17.6 KEY COUNTRIES 

17.6.1 US: MARKET SIZE & FORECAST 

17.6.2 CANADA: MARKET SIZE & FORECAST 

18 EUROPE 

18.1 MARKET OVERVIEW 

18.2 MARKET SIZE & FORECAST 

18.3 PRODUCT 

18.3.1 MARKET SIZE & FORECAST 

18.4 END-USER 

18.4.1 MARKET SIZE & FORECAST 

18.5 DISTRIBUTION CHANNEL 

18.5.1 MARKET SIZE & FORECAST 

18.6 KEY COUNTRIES 

18.6.1 GERMANY: MARKET SIZE & FORECAST 

18.6.2 UK: MARKET SIZE & FORECAST 

18.6.3 FRANCE: MARKET SIZE & FORECAST 

18.6.4 ITALY: MARKET SIZE & FORECAST 

18.6.5 SPAIN: MARKET SIZE & FORECAST 

19 APAC 

19.1 MARKET OVERVIEW 

19.2 MARKET SIZE & FORECAST 

19.3 PRODUCT 

19.3.1 MARKET SIZE & FORECAST 

19.4 END-USER 

19.4.1 MARKET SIZE & FORECAST 

19.5 DISTRIBUTION CHANNEL 

19.5.1 MARKET SIZE & FORECAST 

19.6 KEY COUNTRIES 

19.6.1 CHINA: MARKET SIZE & FORECAST 

19.6.2 INDIA: MARKET SIZE & FORECAST 

19.6.3 JAPAN: MARKET SIZE & FORECAST 

19.6.4 SOUTH KOREA: MARKET SIZE & FORECAST 

19.6.5 AUSTRALIA: MARKET SIZE & FORECAST 

20 LATIN AMERICA 

20.1 MARKET OVERVIEW 

20.2 MARKET SIZE & FORECAST 

20.3 PRODUCT 

20.3.1 MARKET SIZE & FORECAST 

20.4 END USER 

20.4.1 MARKET SIZE & FORECAST 

20.5 DISTRIBUTION CHANNEL 

20.5.1 MARKET SIZE & FORECAST 

20.6 KEY COUNTRIES 

20.6.1 BRAZIL: MARKET SIZE & FORECAST 

20.6.2 MEXICO: MARKET SIZE & FORECAST 

20.6.3 REST OF LAM: MARKET SIZE & FORECAST 

21 MIDDLE EAST & AFRICA 

21.1 MARKET OVERVIEW 

21.2 MARKET SIZE & FORECAST 

21.3 PRODUCT 

21.3.1 MARKET SIZE & FORECAST 

21.4 END-USER 

21.4.1 MARKET SIZE & FORECAST 

21.5 DISTRIBUTION CHANNEL 

21.5.1 MARKET SIZE & FORECAST 

21.6 KEY COUNTRIES 

21.6.1 SOUTH AFRICA: MARKET SIZE & FORECAST 

21.6.2 SAUDI ARABIA: MARKET SIZE & FORECAST 

21.6.3 UAE: MARKET SIZE & FORECAST 

21.6.4 TURKEY: MARKET SIZE & FORECAST 

22 COMPETITIVE LANDSCAPE 

22.1 COMPETITION OVERVIEW 

23 KEY COMPANY PROFILES 

23.1 ROBERT BOSCH 

23.2 STANLEY BLACK & DECKER 

23.3 MAKITA CORPORATION 

23.4 TECHTRONIC INDUSTRIES 

23.5 KOKI HOLDINGS 

23.6 HILTI 

24 OTHER PROMINENT VENDORS 

24.1 CHERVON 

24.2 CHANG TYPE INDUSTRIAL 

24.3 FESTOOL 

24.4 FERM INTERNATIONAL 

24.5 JPW INDUSTRIES 

24.6 KYOCERA CORPORATION 

24.7 LAGUNA TOOLS 

24.8 POWERTEC 

24.9 POSITEC TOOL CORPORATION 

24.10 PROXXON 

24.11 RICHPOWER INDUSTRIES 

24.12 RECORD POWER 

24.13 RIKON POWER TOOLS 

24.14 TRITON TOOLS 

24.15 WEN PRODUCTS 

25 REPORT SUMMARY 

25.1 KEY TAKEAWAYS 

25.2 STRATEGIC RECOMMENDATIONS 

26 QUANTITATIVE SUMMARY 

26.1 MARKET BY GEOGRAPHY 

26.2 MARKET BY PRODUCT 

26.3 MARKET BY END-USER 

26.4 MARKET BY DISTRIBUTION CHANNEL 

26.5 NORTH AMERICA 

26.5.1 PRODUCT: MARKET SIZE & FORECAST 

26.5.2 END USER: MARKET SIZE & FORECAST 

26.5.3 DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST 

26.6 EUROPE 

26.6.1 PRODUCT: MARKET SIZE & FORECAST 

26.6.2 END-USER: MARKET SIZE & FORECAST 

26.6.3 DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST 

26.7 APAC 

26.7.1 PRODUCT: MARKET SIZE & FORECAST 

26.7.2 END-USER: MARKET SIZE & FORECAST 

26.7.3 DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST 

26.8 LATIN AMERICA 

26.8.1 PRODUCT: MARKET SIZE & FORECAST 

26.8.2 END-USER: MARKET SIZE & FORECAST 

26.8.3 DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST 

26.9 MIDDLE EAST & AFRICA 

26.9.1 PRODUCT: MARKET SIZE & FORECAST 

26.9.2 END-USER: MARKET SIZE & FORECAST 

26.9.3 DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST 

27 APPENDIX 

27.1 ABBREVIATIONS 

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