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The Power Tools Market is Changing: Here’s How

January 3, 2024
Ashley Jefferson Author 9 mins read
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Power tools industry

TraQline answers the who, what, when, why, and how of Power Tool market share — delivering quarterly market insights on who’s buying, where they’re buying it, and what drives their purchase decisions.  

Download our free US Power Tools market infographic or read on to discover current trends in the industry, including the top brands, retailers, and more. 

Source: All data in this article was pulled from theTraQline Durable IQplatform using the rolling 4Q ending Q3 2023, Power Tools category. The TraQline Total Power Tools category is an aggregate containing several products. For 4Q ending September 2023 this category consists mostly of the following products: Power drill (30%), Wet/dry vac (15%), Air compressor (10%), Rotary tool (9%), Circular saw (6%), and Orbital sander (5%). For the most recent insights or further dives into the data, please  contact us.   

Power Tools Infographic

Who are the top Power Tools retailers by market share?  

As of September 2023, the top retailer for Power Tools purchases was Home Depot, leading in both most units sold and dollar share.  

In unit share, Home Depot continued to hold the top spot at 28% market share, despite a 0.6 percentage point decrease compared to the prior year.  

  • The next largest retailer in unit share was Lowe’s (19%), followed by Amazon (13%) and Walmart (12%).  
  • Amazon’s year-over-year gain of 0.7 percentage points moved it just ahead of Walmart; Walmart subsequently lost 0.7 percentage points, falling behind Amazon for the first time in the past 5 years. 

In outlet dollar share, Home Depot saw an increase of 1.3 percentage points year-over-year, leading all outlets at 30% market share. Holding second place is Lowe’s, with 20%-dollar share – though down 0.5 percentage points from the same time the previous year. 

Draw-Close Rates 

  • Home Depot and Lowe’s are leaders in Power Tool outlet draw rate, with 40% and 32% respectively. However, Lowe’s draw rate declined 1 point compared to this time last year. 
  • While Amazon’s draw rate is much lower compared to the top Power Tool retail leaders (18%), it did see a significant increase in draw from the prior year. In addition, Amazon leads other top retailers in close rate (73%) — converting more of the shoppers coming to Amazon for Power Tools overall. 

Which Power Tools brand leads in market share? 

As of September 2023, the most purchased Power Tools brand is DeWalt.  

With 16% market share for units sold, DeWalt is the only major brand with an increase in unit share, up 0.7 points from last year. Ryobi (7.9%) and Craftsman (7.7%) are also popular brand purchases. However, Ryobi and Craftsman brands saw a decrease year-over-year, dropping 0.6 points, and 0.5 points respectively. 

Power Tools Insights

Similarly, in Power Tool brand dollar share, DeWalt continued a clear lead over other brands with 17% share, even enjoying an increase of 0.6 points from the same time last year. 

Brand Consideration Rates

DeWalt continues to lead in brand consideration with 22% share, which is an increase from the brand’s considerate rate prior year. 

[Download the infographic to see the share percentage breakdown by all top Power Tools brands.] 

How much do consumers spend on Total Power Tools? 

As of September 2023, the industry average price paid for Power Tools was $145, which rose only a few dollars compared to prior year, when the average price paid was $141. 

Notably, big-box stores such as Home Depot, Lowe’s, and Walmart account for 56% of sales for the Total Power Tools category. The average price paid at these locations varies by retailer. 

For instance, Home Depot and Lowe’s have the highest average prices paid for Power Tools at $150 and $147 respectively. Walmart, on the other hand, has the lowest average price of $87 – which is significantly lower than the industry average. 

Average prices for online purchases tend to be similar to the industry average. Amazon is a notable exception with a lower-than-average price paid of $118.

How are online vs. in-store sales trending for the Power Tools market?    

Power Tools Insights

As of September 2023, in-store remains the most popular channel for buying Power Tools, accounting for 68% of all purchases.  

  • However, the rate of purchases made in-store is down 1.3 points year-over-year, with online purchases growing that same amount.  
  • Online purchases account for 27% of all Power Tool purchases. 
  • The average price paid in a retail store is $130, which is less than the industry average price of $143.  
  • The average price paid online is also lower, but less significantly at $140.  
  • Lowe’s saw the highest average price paid online at $157. 

Other key U.S. Power Tools market insights  

Durable IQ goes beyond retailer and brand market share, providing a total market view for the Power Tools industry.  Here are a few other key insights as of September 2023. 

Which demographics are buying Total Power Tools? 

Who is the typical Power Tools consumer? Here are a few insights as of September 2023:  

  • 69% of Total Power Tool purchasers are homeowners; 28% of purchasers are renters 
  • 56% of purchasers are married; 28% are single 
  • 61% of purchases are made with males only involved in the purchase decision; 26% of purchases are made with females only  
    • 49% of purchasers have been at their current address for 5+ years; 13% have been at their address for 1 year or less 
    • 55% have a household size of 2 or less 

Outlets & Brands Shopped  

When purchasing Power Tools, 64% of purchasers shop only one store, and 73% only shop for one brand. 

Power Tools Purchase Drivers   

What drives consumers to make Power Tool purchases? The top reason consumers purchase a new Power Tool product is to replace a broken one.  

The top three reasons are:  

  1. Replacement of broken (27%)
  2. First time purchase (26%) 
  3. Gift for someone (8%) 

When it comes to selecting a retailer, the most mentioned reasons are: 

  • Competitive price (56%)  
  • Good product selection (26%)  
  • Convenient location (24%) 

[Want to know what drives consumers to purchase a particular brand? Download the infographic to see all the insights!

Get more Power Tools trends & market share data

The Power Tools market insights don’t stop here. For more retail sales data, market share, and other insights, download the Durable IQ-exclusive infographic below. To see insights for other industries or find out how we can help power growth for your business, contact us today