by Corinne Gangloff
March 12, 2021
Bank of America Securities upgraded Stanley Black & Decker’s rating as consumer demand for power tools remains high, bolstered by the burst of DIY home renovation activity seen throughout the pandemic:
While DIY home improvement activity is expected to return to normal levels as the pandemic recedes and consumers resume old behaviors, long-term growth in the global power tools market will be supported by rebounding manufacturing activity and nonresidential construction spending, as well as the ongoing shift in these professional markets to value-added cordless electric tools.
Global demand for electric power tools is forecast to rise 3.4% per year through 2024, according to a new Freedonia Group analysis. Key trends to watch include:
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Global Power Tools is now available from the Freedonia Group. This study examines global supply and demand for power tools. Historical data (2009, 2014, and 2019) and forecasts for 2024 are provided for power tool demand by product, market, and power source; net exports; and shipments on a country-by-country basis.
Spin-off studies focusing on the global markets for electric power tools and professional power tools are also available.
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