World power tool demand is forecast to increase 4.6 percent annually through 2016 to $28.1 billion

World power tool demand is forecast to increase 4.6 percent annually through 2016 to $28.1 billion. Global demand will improve significantly from 2006-2011 market gains, spurred by continued demand in developing regions. Recovery in the bedrock US market will also benefit demand, bolstered by the rebound in US housing construction. In addition, continued industrialization in the developing world will boost demand.
China has become the dominant producer of power tools. China has become increasingly important over the last decade, as both a key supplier and user of power tools. Between 2001 and 2011 production in the country more than doubled, while demand during this same period quadrupled. Major export markets for Chinese made power tools include its regional neighbors, the US, and Western Europe. In recent years, other developing countries have also risen as notable suppliers and users of power tools, although none of these countries have experienced the same degree of growth as China. India will increase at the fastest rate of any country, expanding more than 10 percent per year through 2016.
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