Industries that Have an Effect on Power Tool Sales

Several industries are directly related to power tools sales, including residential new home construction, commercial construction, and residential repairs and improvements. In addition to these, there are several indirectly related industries. This article will discuss some of these indirectly related industries that could have an impact on power tools sales. In addition, this discussion will include additional statistics and forecasting factors that should be considered.

Industries

Appliance and Appliance Repair Industries - The consumer goods appliance industry is related to power tool sales. This is because consumers who purchase appliances may need power tools to perform simple repairs on those appliances. Along these same lines, the appliance repair industry is also related to power tool sales, because as the need for appliance repairs increases, appliance repair shops will need to acquire more power tools in order to perform the repairs.

Home Furnishings and Fixtures Industry - The consumer goods home furnishings and fixtures industry is related to power tool sales. This is due to the fact that consumers who purchase furniture which requires assembly, such as bookshelves or desks, may need power tools to assemble these products.

Manufactured Housing Industry - The industrial goods manufactured housing industry is related to power tool sales. This is because power tools are used to assemble the various components of the manufactured homes.

Hardware Industry - The hardware industry, including items such as nails, screws, hinges, latches, and other fasteners, is also related to power tool sales in the sense that consumers will use power tools to apply these products.

Automotive Industry - The automotive industry is related to power tools sales in several ways. First, new car manufacturers will use power tools to assemble some of the parts of cars and trucks that are being manufactured. Next, new vehicles sales will result in the need for regular maintenance of those vehicles, which will require the use of power tools. Finally, used vehicle sales will result in the need for regular maintenance, and often also result in the owner rebuilding the used car, both of which require the use of power tools.

Rental and Leasing Services Industry - The rental and leasing services industry is indirectly related to power tools sales. The reason for this is not quite as obvious as the previously discussed industries. As the rate of occupancy for rental housing increases, the need for maintenance and repairs on those rental units will also increase. Power tools will be used for rental housing maintenance and repairs.

Statistics and Forecasting Factors

In regard to power tool sales, there are many statistics and forecasting factors that should be considered. First, statistics and forecasts on each of the above mentioned related industries should be reviewed.

Market driver statistics should also be considered. These include trends and growth in home improvement; residential repairs, maintenance, and remodeling; single do-it-yourselfers (DIY); female DIY; changes in home ownership; trends and growth in DIY programs and websites; and trends and growth in retail home centers (DIY Power Tools).

Retail distribution statistics also must be considered. This would include: home improvement centers, such as Home Depot; lumber yards, such as 84 Lumber; hardware stores, such as Ace Hardware; and department stores and mass merchandisers, such as Sears and Wal-Mart (DIY Power Tools).

There are several forecasting factors that must be considered. Future trends, such as the construction of workshops or workshop areas in new homes, should be examined. Market forecasts that should be researched include DIY power tools, electric power tools, cordless power tools, and pneumatic power tools, to name a few (DIY Power Tools).

References

"DIY Power Tools - US." Mindbranch Market Research website. URL: http://www.mindbranch.com/listing/product/R560-2218.html