The global market for power tools is anticipated to expand by more than $7.44 billion between 2017 and 2021. By year’s end, 2018, Zion Market Research predicted that the global market for power tools would be worth about $27 billion. By 2025, it is anticipated to grow to $36 billion. The predicted compound annual growth rate for this is 4.14 percent.
One of the many elements contributing to the power tool market’s strong sales is the global trend toward urbanization. The growth of a “do it yourself” (DIY) culture is another issue. The popularity of reality TV shows about home renovation can be partly blamed for this shift. More than ever, people are motivated to take on tasks traditionally entrusted to qualified professionals. Power tool sales consequently increase as a result of this.
Because rivals have acquired many of the key firms in the power tool business, only four super-conglomerates remain in the industry, making it rather distinctive. Here are the top ten power tool manufacturers worldwide, ranked by 2018 revenue, to provide an overview of the major businesses operating in the sector.
List of top 10 best power tools brands/companies worldwide
Name of 10 best power tool services provider
- Bosch tools company
With sales of just about $89 billion in 2018, German-based Bosch is the world’s largest producer of power tools. The Werkstätte für Feinmechanik und Elektrotechnik, or Workshop for Precision Mechanics and Electrical Engineering, was originally named when it was established in Stuttgart-West. It is one of Germany’s largest companies, with operations split into four business sectors—mobility solutions, industrial technology, consumer goods, and energy and building technology.
- 3M: top power tool company
Despite not being primarily known as a power tool manufacturer, industrial behemoth 3M is one of the biggest businesses in the world and offers a line of metalworking power tools. The Minnesota Mining and Manufacturing Company, established in Minnesota in 1902, has developed into one of the most recognizable and prosperous conglomerates, thanks to several significant inventions, including scotch tape. 3M generated $32.77 billion in total global revenue in 2018.
- Stanley Black & Decker: A chain saw manufacturing company
One of the oldest and possibly most well-known brands on our list is Stanley Black & Decker. The corporation celebrated its 175th year in operation in 2018, with a little over $14 billion in global sales. Stanley Black & Decker, with its corporate headquarters in New Britain, Connecticut, prides itself on being the biggest, most inventive, and rapidly expanding tool and storage company in the world.
When the organization started, Frederick Stanley founded his bold and hinge manufacturing business in New Britain in 1843. In 1910, Duncan Black and Alonzo Decker launched a comparable enterprise in Baltimore, Maryland. The two industrial powerhouses united 100 years later to create the company we know today.
- Techtronic: one of the best drill machine company
The parent company of several well-known and prosperous power tool brands is Techtronic Industries Company Limited. The organization, founded in Hong Kong in 1985, is in charge of industry heavyweights such as Milwaukee, AEG, Ryobi, Homelite, Empire, Stiletto, Hoover US, Hart, Oreck, Vax, and Dirt Devil. Its product offerings include power tools, accessories, outdoor power equipment, hand tools, layout and measuring instruments, floor cleaning products, and appliances.
Techtronic takes great satisfaction in being a company with a global strategy. Strong brands, innovative products, exceptional people, and operational excellence are the four strategic pillars on which they have built their business. The final verdict indicates they are headed in the right direction.
- Makita: A woodworking tool manufacturing company
In the world of power tools, the Japanese manufacturer Makita has established itself as a household name. Makita was established in 1915 as an electric motor repair business and has since developed into a market leader. The company, which has its headquarters in Anj, Japan, generated sales of just over $4.5 billion in 2017.
- Husqvarna: A drill maker company
The history of the Swedish firm Husqvarna dates back to 1689. The company, which has offices in Stockholm and Huskvarna, Sweden, is a world leader in power tool cutting equipment. The Husqvarna Group employs about 13,000 people and conducts business in more than 40 nations. The organization brought in SEK 41 billion, or just over $4.3 billion, in 2018.
Chainsaws made by Stihl, a German manufacturer of power equipment, are the industry standard. Andreas Stihl, the company’s founder, created the first chainsaw and established his business in 1926. Stihl power tools are now available in more than 160 nations worldwide.
According to Stihl’s retail strategy, only independent service dealers, not big-box chain stores, are used for sales. This is done to give customers the best possible service and ensure that the assembly, pre-delivery inspection, and maintenance services are all performed to a high degree.
Power tool design and production have been a mainstay of Koki Holdings’ operations for more than 70 years. Koki, founded in 1948, has developed into one of the top power tool manufacturers in the world, with a revenue of 191,161 million yen, or almost $1.8 billion, in 2018. The company has more than 6,400 employees worldwide and has its headquarters in Tokyo, Japan.
Since it was founded in 2010, The Apex Tool Group (ATG) has been a relatively recent player in the power tool industry. ATG takes pleasure in being one of the biggest power and hand tools producers for professionals worldwide. They provide services to the industrial, automotive, aerospace, electronics, building, and do-it-yourself industries.
Chervon has quickly established itself as one of the top power tool makers in the world despite being younger than some of the other names on this list. Chervon was established in Nanjing, China, in 1993 and has since expanded to become a major player globally. More than 30,000 stores and dealers in 65 nations sell the company’s goods.
Power tools of both the professional and consumer varieties are available from Chervon. Their two production sites are in Steinheim, Germany, and Nanjing, China, respectively, and they make these goods. Their commercial activities mostly concentrate on North America, Europe, China, and Oceania.