About the Report
The global jobsite radio market is projected to expand at a CAGR of 8.5% over the 2021 to 2031 assessment period. These are being mostly used by manufacturing companies, construction companies, and the mining sector.
Jobsite radios are one of the primary entertainment devices used at the worksite for the amusement of workers. With advancements in the technology of jobsite radios, more number of manufacturing and construction companies, especially in North America, are shifting towards jobsite radio by replacing traditional radios.
At present, jobsite radios hold a considerable proportion of expenditure incurred on workers by companies. Several industries across the globe have been using jobsite radios for their blue collar workers for almost a decade. Besides, recently, residential customers have also started using them as speakers for heavy bass music. There has been a rise in the number of residential users of jobsite radios, owing to the presence of more features and durability as compared to speakers. In Europe, there is a growing population of residential customer, mostly campers, who prefer jobsite radios for camping purposes.Â Â
Foremost objective of the report by Fact.MR on the jobsite radio market is to pitch insights on the purchase growth scenario, demand generators, and development strategies in this space. The report provides a taxonomy elaborating on key segments. The report also outlines visionary insights on market dynamics, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key success factors and sales of DC powered jobsite radios as well as sales of AC powered jobsite radios.Â Demand trends have been tracked in 20+ high-growth countries, pointing towards countries in Europe and North America holding bulk of the market share.
Historical Trends Vs Future Market Projections
Historically, from 2016 to 2020, demand for jobsite radios increased at around 5.3% CAGR, and the key factor assisting this growth was their advantages over traditional music systems, including speakers and radios, For instance, jobsite radios with Bluetooth offer a higher range of Bluetooth connectivity (up to 100 ft.) which helps in providing better music sound and quality to more number of people, in comparison to traditional radios.
Initially, jobsite radios were introduced in bulky and heavy models with restricted features. With growing number of manufacturing industries across North America, manufacturers started investing in advanced technology of jobsite radios in order to offer refined products to end users. Key manufacturers started offering jobsite radios with detachable AC cord and battery capability.
Battery-powered jobsite radios drastically changed the market scenario, as now companies are able to purchase jobsite radios with separate voltage battery for a cordless experience. With AC/DC powered jobsite radios, market growth it is expected to gain more pace over the forecast period by capturing a market share of over 90%.
The market is forecasted to expand at a CAGR of 8.5% over the coming 10 years. Prime factors influencing growth are industriesâ€™ shift towards day labour and focus on retention policies. Also, with advancements in technology, demand is expected to rise due to ability to increase the battery life of jobsite radios and provide more reliable results.
What are the Key Opportunities for Jobsite Radio Manufacturers?
Wireless speakers have gained immense popularity over the past decade. Key manufacturers of jobsite radios can utilize this opportunity by investing in the re-positioning of jobsite radios as speakers to tap into the needs of millennial users. Overall demand for speakers was estimated at 227 million units in 2020, and it is expected to reach a volume of 500 million by the end of 2026.
During the period of 2021 to 2026, there was a growth of 12.5% in the speaker market, which can benefit manufacturers of jobsite radios, as they manufacture devices with high-quality sound systems to tackle harsh noises at industrial sites. They can use this opportunity to target different segments, as jobsite radios will be best suited to match the standards of heavy bass speakers.
Due to the high rate of product innovation in jobsite radios, most wireless jobsite radios come at affordable prices. For instance, DEWALT and Milwaukee cordless devices range from US$ 110-168, which is almost the same as a heavy bass speaker; they are convenient and portable as well.
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Which Region Offers Larger Opportunity for the Sales of Jobsite Radios?
North America accounts for approximately 39% of the global sales value of jobsite radios. The region is expected to offer around US$ 380 Mn absolute dollar opportunity from 2021 to 2031. The reason for such high market share is rising demand for cordless jobsite radios due to growing number of home improvement stores. Other than this, demand for jobsite radios is also increasing with rising number of manufacturing and construction companies across North America.
What Makes the United States a Hub for Jobsite Radio Demand?
North America has become the hub for jobsite radio demand, owing to the presence of a large number of manufacturers of these devices. For instance, DEWALT, Porter Cable, and Craftsman are from the United States. Recently, with growing number of industries in the country, huge number of jobsite radios are being purchased by industries for their blue collar workers.
Furthermore, manufacturing and construction companies in the United States are shifting towards engaging more number of day workers. To retain skilled and efficient labourers, companies are providing entertainment benefits such as jobsite radios. The difficulty in attracting and retaining blue collar labourers has increased in the last few years, with 72% of manufacturing companies from the U.S. having a difficult time in finding suitable workers, due to the retirement of baby boomers and lack of skilled labourers in the younger generation.
The U.S. currently holds a share of over 75% of the North American market, and is expected to offer absolute dollar opportunity of nearly US$ 290 Mn by 2031, with its market expected to expand at a CAGR of more than 7% over the forecast period.
Why is Demand for Jobsite Radios High in Germany?
Most manufacturing companies in Germany, including Robert Bosch GmbH and PerfectPro, are heavily investing in R&D to create more durable and result-oriented jobsite radios while increased battery life.
Robert Bosch GmbH offers jobsite radios with 18V battery life and AC cords as well. These radios come with Bluetooth technology to connect to the userâ€™s smart devices and stream Internet radio and stored music. They are being used by industries as well as residential customers, owing to features such as weather-resistant and enriched stereo sound. These systems have gained popularity among campers due to their four-way speakers and subwoofer, providing sound quality in all directions.
There is a large number of home improvement stores and modern trade in Germany, which together account for more than 500 in number, which has improved the distribution efficiency of jobsite radios.
Absolute dollar opportunity for jobsite radios in Germany is expected to be close to US$ 88 million over the forecast period, with the market expanding at a CAGR of over 8% through 2031.
Why is China a Huge Market for Jobsite Radios?
China held around 43% share of the market for jobsite radios in East Asia in 2020, and has experienced stable growth in recent times. The country has strong jobsite radio demand, evidenced by emerging companies such as GTL Tools and Retekess.
China is a high potential market for antennas of jobsite radios, owing to low prices. Antennas are one of the primary raw materials for the production of jobsite radios, and provide multipurpose applications. For instance, manufacturers of jobsite radios are using antennas for WI-FI, 4G, and 5G network connectivity and several other things. This has supported emerging manufacturers to offer jobsite radios at much lesser price than competitors. Growing number of manufacturing and construction companies is also supporting demand growth for jobsite radios in China.
The market in China is anticipated to expand at a CAGR of close to 12% during the forecast period, with absolute dollar opportunity for the country expected to be US$ 120 Mn from 2021 to 2031.
Why are AC/DC Powered Jobsite Radios the Most Sought-after?
AC/DC powered jobsite radios have shown drastic growth in demand over the historical years from 2016-2020, as most consumers prefer jobsite radios that are compatible with batteries of different voltages. Initially, DEWALT and Milwaukee Electric Tool Corporation introduced jobsite radios than can run on a battery, for a cordless experience. These variants can also be used for the charging of other devices. Several manufacturers offers jobsite radios that can run on 18V, 20V and 28V batteries.
Most manufacturers do not provide jobsite radios with a built-in battery; this is supposed to be purchased separately. AC/DC powered jobsite radios made traditional jobsite radios obsolete in the market due to their heavy weight and less features.
Globally, sales of AC/DC powered jobsite radios are anticipated to increase at a CAGR of close to 9% during the forecast period, with the absolute dollar opportunity expected to be around US$ 1.2 Bn from 2021 to 2031. Â
How are Home Improvement Stores Increasing Demand for Jobsite Radios?
Home improvement stores provide components and facilities for home repairs, such as worksite devices and remodelling project accessories. In 2019, a substantial growth in annual unit sales of jobsite radios from home improvement stores was observed. In 2019, around 15% of DEWALTâ€™s jobsite radio revenue came from Loweâ€™s.
The Home Depot and Loweâ€™s dominate the U.S. power tools market for DIY customers, and account for a combined revenue share of over 15% for jobsite radios. The Home Depot offers jobsite radios of brands such as DEWALT, Milwaukee, Makita and Ryobi, while the shelves of Loweâ€™s include DEWALT, Bosch, Naxa, Supersonic, Craftsman, Monster High, DC Comics, Thomas & Friends, and Spectra products, among others. The 18-volt category of jobsite radios at Home Depot features Makita, Milwaukee, and Ryobi, while at Loweâ€™s, prominent 18-volt jobsite radio brands include Bosch and DEWALT.
An Adaptive Approach to Modern-day Research Needs
Majority of the companies discussed in the report have focused on establishing subsidiaries in developing and developed regions. Some of the key developments are:
- In 2019, DEWALT, introduced Atomic and Xtreme product lines, which come with brushless and cordless 20V power tools. This made the product line more efficient and user-friendly.
- In 2018, Bosch invested US$ 56 million in India. Bosch is focusing on increasing its manufacturing and development units in India. Its purpose is to increase the skilled and efficient workforce in India.
- In 2018, Makita started leveraging recharge control and motor technologies to promote cordless products. Makita developed products that make worksites across the world safer, more efficient, and more comfortable.
Similarly, recent developments related to companies manufacturing jobsite radios have been tracked by the team at Fact.MR, which are available in the full report.
Interested to Procure The Data
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
OtherÂ Stakeholders Analysed
Key Segments Covered
- AC Powered Jobsite Radios
- AC/DC Powered Jobsite Radios
- 5V Max
- 12 Max
- 18 Max
- 20 Max
- 28 Max
By End User
- Jobsite Radios for Manufacturing Companies
- Jobsite Radios for Woodworking Companies
- Jobsite Radios for Construction Companies
- Jobsite Radios for Residential Customers
- Jobsite Radios for Mining
By Sales Channel
- Home Improvement Stores
- Modern Trade/ Organized Hardware Stores
- Online Retail
- North America
- Latin America
- East Asia
- South Asia
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
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