The power tool market in New Zealand include products like drills, saws, sanders, routers, planers, grinders, sheet sanders, staplers, nail guns, welding equipment, and others that are used for drilling, cutting, sanding, planing, grinding, fastening, and other operations in various industrial and household applications. Power tools offer advantages like improved productivity, accuracy, ease of use, and versatility over conventional tools. Growing construction activities in both residential and commercial sectors have increased the demand for power tools for drilling, cutting, fastening, and other applications.

The Global New Zealand Power Tool Market Size is estimated to be valued at US$ 167.2 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the New Zealand power tool market are Stanley Black & Decker, Bosch, Makita, Milwaukee Electric ToolTech, tronic Industries, Metabo HPT and Among Others. Stanley Black & Decker and Bosch together account for over 30% of the market owing to their well-established brands and wide product portfolio.

Growing residential and non-residential construction activities are driving the demand for power tools in New Zealand. Power drills, hammer drills, circular saws, jigsaws, and impact wrenches find extensive applications at construction sites. The recovery of the construction industry post-COVID is augmenting market growth.

Technological advancements are influencing the power tools market in New Zealand. Manufacturers are focusing on developing low noise and vibration tools, compact designs, lithium-ion batteries with higher capacity and longer life, and tools with IoT integration for smart capabilities. Cordless power tools with improved efficiencies are gaining popularity.

Market Trends

Increased preference for cordless power tools: Cordless power tools are becoming increasingly popular among professional contractors and DIY users owing to their versatility, mobility, and ease of use compared to corded tools. Major players have strengthened their cordless tool product lines which is a key trend.

Growing demand for multi-purpose power tools: The market is witnessing rising demand for multi-purpose tools that can be used for diverse applications by conveniently changing attachments. Manufacturers have launched multi-tools, such as angles grinders, that come equipped for grinding, polishing, cutting, sanding, and other functions.

Market Opportunities

Progress in battery technologies: Advancements in lithium-ion battery technologies such as higher energy density, faster charging ability, and greater durability will provide growth opportunities.

Growth in infrastructure projects: Upcoming infrastructure projects in areas such as transportation, renewable energy, utilities indicate opportunities for sustained demand for industrial power tools.

Impact of COVID-19 on New Zealand Power Tool Market

The COVID-19 pandemic has significantly impacted the growth of New Zealand power tool market.During the nationwide lockdowns imposed by the government in 2020, all construction and infrastructure activities came to a halt which severely affected the demand for power tools in the country. This led to a contraction in power tool market in 2020. However, as restrictions were gradually lifted from mid-2020, construction activities resumed with implementation of social distancing measures and hygiene protocol on sites. This provided some impetus to power tool sales. But supply chain disruptions caused by lockdowns globally impacted the availability of tools. Rising timber and material prices due to disruptions also pushed up production costs.

Though demand recovered in 2021 from a low base, it is still below pre-pandemic levels owing to uncertain economic outlook. The market is expected to regain momentum from 2022 as major infrastructure projects commence and residential construction picks up pace. However, high inflationary environment poses challenges. Manufacturers are focusing on introducing affordable power tools and expanding e-commerce presence to boost sales. They are also diversifying into segments like industrial power tools to mitigate risks. While short term impacts persist, the long term outlook remains positive driven by government investments in infrastructure, housing sector and gradual normalization of economic activities.

New Zealand Power Tool Market: Geographical Concentration

In terms of value, the North Island region accounts for the major share of over 60% in the New Zealand power tool market. The key cities of Auckland and Wellington are major demand centers owing to large scale commercial and residential construction activities. Auckland alone contributes to nearly 30% of the total market value due to extensive infrastructure projects under development. The provincial cities like Hamilton and Tauranga are also growing rapidly backed by industrialization and urbanization.

Fastest Growing Region in New Zealand Power Tool Market

The South Island region is poised to be the fastest growing region in the New Zealand power tool market during the forecast period. Though its current share is around 35-40%, growth rate exceeds the national average. This is backed by rising investments in tourism infrastructure like airports, roads, city modernization programs especially in cities like Christchurch, Queenstown and Dunedin. The rebuilding activities post earthquakes also propel tool demand. Residential construction is surging in inland provincial towns to accommodate shifting population. These factors would significantly drive the growth of power tool market in South Island over the coming years.

What Are The Key Data Covered In This New Zealand Power Tool Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the New Zealand Power Tool Market's growth between 2024 and 2031.

:- Accurate calculation of the size of the New Zealand Power Tool Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- New Zealand Power Tool Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of New Zealand Power Tool Market vendors

FAQ’S

Q.1 What are the main factors influencing the New Zealand Power Tool market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top New Zealand Power Tool Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the New Zealand Power Tool market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

Get more insights on this topic: https://www.pressreleasebulletin.com/new-zealand-power-tool-market-trend-size-and-demand-2/