Malaysia Power Tools Market – Industry Trends and Forecast to 2029

Market Analysis and Insights

Malaysia power tools market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing with a CAGR of 4.9% in the forecast period of 2022 to 2029 and is expected to reach USD 577.73 million by 2029. The major factor driving the growth of the Malaysia power tools market is increase in the growth of cordless power tools and the integration of brushless motors in power tools.

Power tools can be defined as those types of tools which require additional power sources to run their mechanism and they consist of a motor to power their operation. These motors can be driven by fuel through electric power, compressed air, or internal combustion. These power tools are used for various functions such as drilling, demolition, cutting and sawing, material removal, polishing, and others. These operations require various tools such as drills, hammers, jigsaws, and sanders. These power tools are being used for industrial and residential purposes to ease users' work. They provide better accuracy, ease of working, and higher productivity. The job gets more straightforward and faster when working with power tools. These tools are majorly used in the construction and automobile industry for concrete, wood, and metalwork. The production capacities of these industries are enhanced with power tools. Power tools are compact and can be easily transported. The cordless power tools running on batteries have made the working more flexible.

Malaysia power tools market report provides details of market share, new developments, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.

Malaysia Power Tools Market Definition

Power tools can be defined as those types of tools which require additional power sources to run their mechanism, and they consist of a motor to power their operation. These motors can be driven by fuel through electric power, compressed air, or internal combustion. These power tools are used for various functions such as drilling, demolition, cutting and sawing, material removal, polishing and others. These operations require various tools such as drills, hammers, jigsaws, and sanders. These power tools are being used for industrial and residential purposes to ease users' work. They provide better accuracy, ease of working and higher productivity. The job gets more straightforward and faster when working with power tools. These tools are majorly used in the construction and automobile industry for concrete, wood, and metalwork. The production capacities of these industries are enhanced with power tools. Power tools are compact and can be easily transported. The cordless power tools running on batteries have made the working more flexible.

Malaysia Power Tools Market Dynamics

Drivers

• Increase in the growth of cordless power tools

Companies invest heavily in cordless technology to bring out optimum solutions for end-users and professionals. As the industry evolves, the focus will increase more on cordless equipment for better performance and flexibility to work. The development of these cordless batteries equipped power tools will boost the Malaysia power tools market growth.

• Integration of brushless motors in power tools

The requirement for long durable power tools has increased, and the companies are improving their technologies with brushless motors to gain a larger market share. Various companies are introducing new brushless integrated motors, boosting the Malaysia power tools market growth.

• Increasing growth infrastructure projects

As the construction industry is witnessing growth, there will be a growing demand for power tools. These power tools are even required at the time of renovation and can be used in concrete, wooden, metal, and other work. The continuous growth in infrastructure projects would increase the demand, which will lead to the development of the Malaysia power tools market.

Opportunities

• Smart connectivity in power tools

Companies are enhancing their customers' experience through these smart apps, keeping track of their tools, and saving the loss of any theft. This technological advancement in power tools, such as smart connectivity through means of Bluetooth and specific apps, provides lucrative opportunities for the growth of the Malaysia power tools market.

• Technological innovations in industry 4.0

The automation and monitoring feature also enables the manufacturers to provide quality assurance. The sensors can provide data if the power tool is not according to how it should or if any part is causing trouble. This would give a better experience to the users, and the inclination of professionals and users towards the power tools will increase. The technological developments being made in industry 4.0 will host new opportunities for the Malaysia power tools market by improving the performance of the power tools and enhancing the experience, and easing the work of both professional and various users.

Restraints/Challenges

• High maintenance of power tools

These limiting factors of various power tools have increased the maintenance and after purchase costs of power tools. As these power tools are used in harsh and rigorous environments, the initiative taken to maintain them could be lacking. Thus, they need to be more flexible in their work, or else the maintenance cost of these power tools would be pretty high. Moreover, the power tools are already far more expensive than the hand tools; therefore, any increase in maintaining them leads to a drop in demand and market growth. Hence, The high maintenance of these power tools is a major restraint on the development of the Malaysia power tools market.

• Fluctuation in the prices of raw materials

COVID-19 pandemic has also created a huge impact on the production and supply of raw materials. The prices are expected to fluctuate and severe lockdown conditions led to a shortfall of the raw materials. The halt of transportation also led to a shortage of materials. This has also impacted the price of raw materials, and this is acting as a major restraint on the growth of the Malaysia power tools market

• Designing ergonomic and lightweight power tools

Moreover, the power tools can cause various health issues for the user. The demolition hammer causes high vibrations while operating, and slight wrong movement by the user can break the user's spine and cause severe damage. The sanders and cutters produce dust and small pieces, which could harm the user. The tool's ergonomics should be given special importance to protect the user from any such accident or harm.

The power tool can severely cause accidents and health issues due to its ergonomic operations. In addition, the heavy body of the power tools makes it difficult to operate with total efficiency. These factors act as a major challenge for the Malaysia power tools market.

COVID-19 had a Minimal Impact on Malaysia Power Tool Market

COVID-19 impacted various manufacturing and service providing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. Though, the imbalance between demand and supply and its impact on pricing is considered short-term and is expected to recover as this pandemic comes to an end. Due to outbreak of Covid-19 throughout the globe, the demand for power tool has increased tremendously. The basic operations such as cutting, chopping, drilling, hammering, and grinding can be easily completed using these power tools with more efficiency and ease. Thus, surge in adoption of electric power tools in household work is expected to drive the electric power tools market growth. Moreover, the necessity of these electric power tools has led to constant product developments in terms of batteries, motors, and other technologies. Thus, even though the other industries suffered a lot during Covid-19 outbreak, the power tools industry was growing significantly.

Recent Developments

• In May 2022, Milwaukee Tool Malaysia. Showcased their products at the Silverwell Trading Red Express from 6-9th May 2022 at Pulau Pinang. This has allowed the company to showcase their products to a larger consumer base and industries present at the event
• In November 2021, Hexo Industries (M) Sdn Bhd partnered with Ekahau, a leader in creating solutions for wireless network design, optimization and troubleshooting. This development and partnership will allow the company to enhance their products with new effects such as wireless technology

Malaysia Power Tools Market Scope

Malaysia power tools market is categorized based on type, mode of operation, operated, application, material, sales channel, and end user. The growth amongst these segments will help you analyze major industry growth segments and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Type

• Drilling
• Chisels
• Screwing (Screwdriver Bits)
• Saws
• Circular Saw Blades
• Cutting
• Sanding
• Rotary Hammers
• Grinders
• Woodworking
• Corded and Cordless Power Tools
•  Metalworking
• Mechanic Tools
• Others

Based on type, the Malaysia power tools market is segmented into drilling, chisels, screwing (screwdriver bits), saws, circular saw blades, cutting, sanding, rotary hammers, grinders, woodworking, corded and cordless power tools, metalworking, mechanic tools and others.

Mode of Operation

• Pneumatic
• Hydraulic
• Liquid Fuel Tool
• Electric
• Power-Actuated Tools

Based on mode of operation, the Malaysia power tools market is segmented into pneumatic, hydraulic, liquid fuel tools, electric and power-actuated tools.

Operated

• Electricity Operated
• Battery Operated

Based on operated, the Malaysia power tools market is segmented into electricity operated and battery operated.

Application

• Woodworking
• Concrete and Construction
• Metalworking
• Welding
• Others

Based on application, the Malaysia power tools market is segmented into woodworking, concrete and construction, metalworking, welding and others.

Material

• Wood/Metal
• Brick/Block
• Concrete
• Glass
• Others

Based on material, the Malaysia power tools market is segmented into wood/metal, brick/block, concrete, glass and others.

Sales Channel

• Online
• Offline

Based on sales channel, the Malaysia power tools market is segmented into online and offline.

End User

• Residential
• institutional/professional

Based on end user, the Malaysia power tools market is segmented into residential and institutional/professional.

Competitive Landscape and Malaysia Power Tools Market Share Analysis

Malaysia power tools market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points are only related to the companies' focus on the power tools market.

Some of the prominent participants operating in the Malaysia power tools market are Makita Corporation, Hexo Industries (M) Sdn Bhd, HK POWERTOOLS (M) SDN BHD, Milwaukee Tool Malaysia, KYOCERA Corporation, Ingersoll Rand, Apex Tool Group, LLC.Apex Tool, Atlas Copco AB, Hilti Corporation, Panasonic Corporation, Robert Bosch GmbH Robert Bosh, Stanley Black and Decker, Inc., Techtronic Industries Co. Ltd. Techtronic Industries, 3M, Koki holding co., Lltd, DEWALT and others.

Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global Vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.

SKU-68502