Zhengzhou,China (PRWEB) February 11, 2014
iAbrasive, a online B2B trade platform focusing on the e-commerce of abrasives, abrasive products and diamond tools, indicates that World power tool demand is forecast to increase 4.5 percent annually through 2016 to $28.1 billion.(data published on http://www.freedoniagroup.com/industry-study/2996/world-power-tools.htm).
As is showed in the survey that gains will be driven primarily by the bedrock US market, especially as a rebound in US housing starts increases the number of professional tool users. Manufacturing activity in the country -- especially motor vehicle production -- is also expected to significantly improve, further boosting power tool demand, especially for pneumatic tools. Due to the inherent convenience and mobility, cordless tools will continue to replace plug-in models, cordless electric tool demand will experience the most robust growth through 2016, advancing 8.3 percent per year.
Through 2016, growth in professional demand, which accounted for 70 percent of global power tool sales in 2011, will outpace that in consumer demand. The three major professional outlets are the construction, automotive repair, and manufacturing industries. Consumer users of power tools include hobbyists and homeowners. Demand for power tools in the consumer market will be limited by a relative lack of do-it-yourself (DIY) activity in developing areas of Asia, where inexpensive labor is plentiful.
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