Analysis of Woodpecker Tools market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to latest research by FactMR, woodpecker tools market is set to witness steady growth during 2021-2031. The demand will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Muted demand from construction sites will limit the opportunities in near future, however, sales in furniture manufacturing units and housing industry will provide momentum.
Evolving end-user demand for lightweight and high-performance woodpecker tools continues to drive demand for the market. Fast urbanization and industrialization across the globe is set to be a lucrative avenue for manufacturers.
Sales of woodpecker tools highly relied upon the utilization of wood in housing industry and construction sites. Countries like USA, Japan, Canada and Australia a large number of wooden houses are being made. This will lead to give an opportunity to grow the sales.
The trend of modular kitchens has witnessed the significant demand in developing countries such as India, China since past few years and it is more likely to follow the same trend during the forecast period.
In addition increasing demand for strong and durable wood frames from the residential sector coupled with increased interest for home renovation is projected to surge the sales.
Construction sector around the globe have been impacted by COVID-19-induced slowdown. This has also had a ripple effect on household furniture sales as well. As versatility of the tool and diversified product type are the main point of attraction of the consumers across the globe. This will lead to give an opportunity to the manufacturer to adopt customization and new product launch.
Woodpecker tools is also extensively used in construction and furniture industries for reducing the time and increasing the productivity. Although lockdown and shelter-at-home guidelines have meant restricted construction activities, sales are likely to improve over the course of the assessment period.
US is one of the largest markets for woodpecker tools globally due to highest consumption from the construction. The US demand is set to surge during the assessment period 2021-2031. Demand is likely to remain muted in the next couple of years, as construction sites and housing industries are highly affected by the COVID-19 pandemic.
Demand for woodpecker tools in US will be led by construction, furniture and housing industries. According to the National Association of Home Builders 93% of new homes constructed in 2018 in the U.S were wood framed.
US woodpecker tools sales will also be impacted by the construction sector recovery in 2021. The US construction sector faces a challenging year, however, there is growing optimism that low mortgage rates will lead to a spurt in early 2022.
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Many countries in Asia Pacific region have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, rapid rate of urbanization, industrialization and infrastructure development in countries like India and China has witnessed the significant demand for woodpecker tools.
Timber is most commonly used building material in Japan, this is due to the fact that Japan is an earthquake prone zone. Building materials such as bricks, stones, cement and RCC are brittle in nature and wood provides sufficient flexibility and strength , this phenomenon create considerable value and sales for the woodpecker tools in Japan.
The awareness of limited availability of wood and utilization of aluminum and steel frames for residential and commercial application is more likely to hinder the demand for woodpecker tools. It also gives a challenge to the manufacturers to develop the tools in such a way that tools can be used for different materials.
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Some of the leading manufacturers and suppliers of woodpecker tools include Woodpeckers, Carbide processors inc., Dynamite tool co, Dewalt, FESTOOL, Estwing, Malco, Milwaukee, SAS, Mafell, Metabo, BOSCH, Hilti, Makita and Ryobi.
To obtain a dominant position in the globe, the companies are following in-organic growth strategy such as merger, expansion, acquisition, partnership and collaboration with regional companies along with new product development strategy.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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