Major Corporations Dominating the Global Production of Tools
In a comprehensive report by PressureWashr, the global hand and power tools market is found to be dominated by a select few companies. The report, broken down into sections, sheds light on the market share and sales figures of these key players.
Based out of Hong Kong, Techtronic Industries is one of the four companies that control 48% of the global market. With a 9.88% market share and $6 billion in sales, Techtronic is a force to be reckoned with in the industry. Some of the brands under Techtronic's umbrella include Ryobi, Dirt Devil, Oreck, Milwaukee Electric, and Hoover.
Another major player in the market is Stanley Black & Decker, based in Connecticut. The company leads the pack with a 14% market share and $7.14 billion in sales. Beyond its namesake, Stanley Black & Decker owns brands such as Lenox, Craftsman, Irwin Tools, DeWALT, and CribMaster.
The report does not provide any new information on the overall value of the global hand and power tools market, but estimates it to be worth around $51 billion in 2017. It is important to note that the report does not mention any new tool companies or provide any new market share estimates or sales figures for the top tool companies.
The report also does not specify which bigger DIY projects are being referred to, but reading it can help in finding the right tools for such projects. David Grossman, a staff writer for PopularMechanics.com, has written the report and has previously contributed to several other publications such as The Verge, Rolling Stone, and The New Republic. Based out of Brooklyn, Grossman brings a wealth of knowledge and experience to the report.
The four companies that together control 48 percent of the global market for hand and power tools are not mentioned in the provided search results, making it clear that these four companies hold a significant position in the industry. The report serves as a valuable resource for anyone looking to gain a better understanding of the power tools market and make informed decisions when it comes to purchasing tools for their DIY projects.
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