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Durable IQ™, Home Improvement, Infographics

Power Tools Market Share Infographic

May 10, 2022
Ashley Jefferson Author 4 mins read
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What are the best brands and outlets in the Power Tools market? – An infographic

TraQline answers the “who”, “what”, “where”, “when”, “why”, and “how” for Power Tools market share. Our quarterly survey will help you understand who’s buying, where they’re buying it, and what drives their decisions. Our infographic will help you answer the following questions about the Total Power Tools market and how it is changing…

Who leads sales in the Power Tools market?

Our infographic will give you greater details, but for now, here’s what you need to know about the market leaders for Power Tools:

  • The Total Power Tools category is an aggregate of various tools.  For 4Q Ending Mar 2022 Total Power Tool purchases consist mainly of power drill, wet/dry vac, air compressor, rotary tool, circular saw, and orbital sander for a total of about 75 percent of Power Tool sales.
  • DeWalt (15 percent) and Craftsman (8 percent) are the most popular brands in this product aggregate.
  • Home Depot continues to be the outlet lead in Total Power Tool purchases (28 percent – up significantly from 4Q Ending Mar 2021) and has been the consistent leader since 2015.  Lowe’s continues to be the second highest outlet for unit share with 19 percent. 

How much do consumers spend on Power Tools?

When buying a product in the Total Power Tools aggregate, the industry average price paid is $134.  However, the average amount spent at different retailers can vary. For example:

  • The big-box stores – Home Depot/Lowe’s/Walmart make up about 57 percent of purchases.  Lowe’s average price ($141) is slightly higher than the industry average.  Home Depot average price ($135) is equivalent to the industry average.
  • Walmart average price ($73) is significantly lower than the industry average.

What demographic is buying Power Tools?

Just who buys Power Tools? TraQline’s census-balanced respondent pool has given us insights like:

  • Not surprisingly, 70 percent of Total Power Tool purchasers are homeowners.
  • About 73 percent of Total Power Tool purchasers have men involved in the decision – be it solely or jointly.  The percentage of women involved in purchase decision is 40 percent – solely or jointly.
  • About 48 percent of purchasers have been in their current residence 5+ years.  About 23 percent of purchasers have been in their residence 1 year or less.
  • 82 percent of purchasers are White
  • About 69 percent of purchases are age 45+.
  • About 57 percent of purchasers have a household size of 2 or less.

Total Power Tools Market – Online Vs. Brick & Mortar Sales Trends:

Brick & Mortar outlets remain the most popular sales channel (70 percent).  This is up 1.5 points from 4Q Ending Mar 2021.  This is likely due to a decrease in pandemic concerns.

  • Online Total Power Tool sales have decreased from 4Q Ending Mar 2021 – 27.2 percent down to 25.8 percent (change of 1.4 points) for 4Q Ending Mar 2022.

Power Tools Market Share Facts:

Curious about other information TraQline’s survey has uncovered?  Here’s a preview for you:

  • As seen in previous years, “Competitive price” remains the top reason for retailer purchase in 2020. 
  • As seen in previous years, “Competitive price” is far and away the top reason for retailer purchase for 4Q Ending Mar 2022.  About 56 percent of purchasers mention price as a reason for retailer selection.  However, this reason for retailer purchase has been trending down the past 5 years, while “Good selection of products” is trending up over the same time period.
  • Home Depot continues to lead all retailers in outlet draw rate (39 percent) and is significantly higher than 4Q Ending Mar 2021 (up 2 points).  The Lowe’s outlet close rate is also up significantly from 4Q Ending Mar 2021 (up about 2 points).
  • Lowe’s draw rate is up significantly versus 4Q Ending Mar 2021 (up 1 point).  Lowes’s close rate is flat from 4Q Ending Mar 2021.

Looking for more information on the Power Tools Industry? Check out our suite of market research products including Durable IQ, SKU Metrix, and HPOS. To see everything we’ve included on our infographic, fill out the form below and download your own copy: