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Global Market For Hand Tools And Accessories To Be Worth US$ 19.4 Billion By 2015
Global Market For Hand Tools And Accessories To Be Worth US$ 19.4 Billion By 2015
Increasing interest in energy-efficient power tools expected to drive demand
Sheikh Zayed Road,
Dubai,
United Arab Emirates
(prbd.net)
08/05/2011
DUBAI – As more and more people switch to cordless power tools and more energy efficient appliances, the market for hand tools and accessories continues to expand.
According to recent market research*, the global demand for hand tools and accessories has been growing at a steady pace, making it one of the most consistently profitable sectors in the industry despite the current global economic conditions. A large part of this development has been driven by increased demand for cordless powertools such as saws and drills.
There is also greater demand for more energy-efficient and ergonomically designed hand tools. Leading manufacturers are expected to continue to target this segment with more innovatively designed products and specially targeted marketing strategies.
In fact, demand for power tools is expected to surpass traditional hand tools worldwide, due to the increasing popularity of cordless electric saws, polishers, grinders and sanders. Electric screwdrivers are expected to witness robust demand, and electric saws and drills are projected to record above-average growth figures.
The global market for hand tools and accessories is estimated to reach US$ 19.4 billion by the year 2015. The economies of the GCC region, with construction projects worth US$ 1,368 billion currently underway are a significant market for power and hand tool manufacturers. **
“The renewed growth in the Middle East’s construction industry is expected to drive demand for hand tools and accessories,” said Ahmed Pauwels, Chief Executive Offcier of Epoc Messe Frankfurt, organiser of Hardware+Tools Middle East, the largest trade event for the hardware, tools and machinery industry. “Hardware+Tools Middle East, with its reputation as the premier trade show for this sector, offers manufacturers and suppliers a readymade platform to expand their reach into this fast-growing market,” he added.
Globally the largest segment in this category is Mechanic Service Tools, followed by Edge tools such as chisels, axes and professional and craft tools.
Hardware+Tools Middle East will be held at the Dubai International Convention and Exhibition Centre from May 10th to 12th, 2011. The exhibition is divided into tools, hardware and machinery product groups and is expected to attract industry professionals, decision makers, manufacturers, suppliers, importers and re-exporters from across the region. On display will be the latest developments in hand tools and accessories, air tools and accessories, measuring detection tools, hydraulic tools, specialty tools, magnetic tools, building hardware, consumables, construction and building materials among others.
ENDS
*Hand Tools and Accessories: A Global Strategic Business Report – companiesandmarkets.com
** Constructionweekonline.com
Show Profile:
Hardware and Tools is the Middle East’s only dedicated event for tools, hardware materials and machinery. Industry professionals involved in the supply of equipment to or the design, construction, build or specification of commercial or residential developments understand the importance of staying updated with new products, services and technology in the field.
Hardware + Tools Middle East is the perfect platform to meet new contacts, discuss new trends and technological developments, keep up to date with industry knowledge and source new products and solutions.
Show website: www.hardwaretoolsme.com
Company profile:
EPOC Messe Frankfurt GmbH is a subsidiary of Messe Frankfurt, Germany’s leading trade fair organiser. With 450 million Euros in sales in 2010* and more than 1,770 employees worldwide, Messe Frankfurt brings 800 years of experience to Dubai, the strategic hub for the region. The Messe Frankfurt Group has a global network of 28 subsidiaries, five branch offices and 52 international Sales Partners giving it a presence for its customers in more than 150 countries.
The successful portfolio of events of Epoc Messe Frankfurt GmbH in Dubai includes: Intersec trade fair and conference, Materials Handling Middle East, Hardware+Tools Middle East, Garden+Landscaping Middle East, Light Middle East, Beautyworld Middle East, Automechanika Middle East, and now also Paperworld Middle East and Playworld Middle East.
For more information, please visit our website at: www.uae.messefrankfurt.com
*Preliminary figures for 2010
For more information, please contact:
BIZ COM - For PRoactive Communications
P.O. Box 48889; Dubai - UAE
T: +971 4 332-0888
F: +971 4 332-0999
E: info@bizcom.ae
W: www.bizcom.ae
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