Study #: 3663 | Published: 09/2018 | Pages: 162 | Individual User License: US$ 3,900

What products does this Tool Storage study cover?

In this mature market, product sales will be supported by several factors to various degrees, including consumer trends of interest in DIY And home repair activities. Products covered include:

  • Professional Grade Tool Storage
  • Consumer Grade Tool Storage
  • Chests & Cabinets
  • Boxes, Cases, Bags, & Belts
  • Carts
  • Accessories

What are the key trends to know for tool storage products?

Although growth rates will not vary much among product categories over the forecast period, chests and cabinets will grow at the fastest rate, followed by carts. Chests, cabinets, and carts represent the highest-priced products in toolstorage and are used extensively by professionals, who tend to be less price-sensitive than consumers, supporting dollar sales growth in the future.

Tool storage sales are somewhat seasonal, particularly for consumer products. Peak sales occur in the last six to eight weeks of the calendar year – between Black Friday and Christmas. Father’s Day is the next most common instigator of tool storage sales.

Tariffs imposed on steel and aluminum imported to the US from the EU, Canada, and Mexico are expected to contribute to price increases of tool storage products made from those materials, at least in the near term, as companies consider adjusting supply chains. The duties imposed on Chinese and Vietnamese consumer metal chest and cabinet suppliers only affect a relatively small slice of the tool storage market. US manufacturers of such products, particularly Waterloo Industries, should benefit from the government’s antidumping actions.


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Table of Contents

EXECUTIVE SUMMARY

OVERVIEW

Key Findings

Power & Hand Tool Demand Trends

Power & Hand Tool Demand Trends: Overview

Power & Hand Tool Demand Trends: Annual Sales

Power & Hand Tool Demand Trends: Consumer Purchasing Trends

Who Buys Power & Hand Tools?

Most Commonly Purchased Power Tools

Most Commonly Purchased Hand Tools

Domestic & Foreign Production of Metal Products

Tariffs & Antidumping Duties on Imports

Aluminum & Steel Tariffs

Antidumping Duties on Tool Storage Products from China & Vietnam

PRODUCTS

Key Findings

Tool Storage Classes

Professional- Versus Consumer-Grade

Demand Forecast by Class

Tool Storage Classes: Professional-Grade

Tool Storage Classes: Consumer-Grade

Tool Storage Products

Demand by Product

Tool Storage Products: Chests & Cabinets

Scope

Demand Forecast

Suppliers

Tool Storage Products: Boxes, Cases, Bags, & Belts

Scope & Product Description

Demand Forecast

Suppliers

Tool Storage Products: Carts

Scope

Demand Forecast

Suppliers

Tool Storage Products: Accessories

Scope

Demand Forecast

Suppliers

CONSUMER TRENDS

Key Findings

Tool Storage Markets

Consumer Insights

Overview

Women Represent an Increasingly Important Market

The Importance of Baby Boomers Cannot Be Forgotten

Millennials Moving into Their First Homes

DIY Ethic

Consumer Views on Tools & Tool Storage

Overview

Tool Ownership

Area of Home Used for Tool Storage

Primary Tool Storage Unit by Gender

Primary Tool Storage Unit by Age Group

Consumer Views on Tools & DIY Engagement

Consumer Views on Tools & DIY Engagement by Age Group

Area of Home Used for Tool Storage by Consumer Views on Tools & DIY Engagement

Primary Tool Storage Unit by Consumer Views on Tools & DIY Engagement

PRODUCT & MARKETING TRENDS

Key Findings

Product Trends

Overview

Product Trends: Durability

Product Trends: Security

Product Trends: Customization

Product Trends: Power Capabilities

Product Trends: Cool Factor

Marketing Trends

Overview

Marketing Trends: Online Marketing

Marketing Trends: Experiential Marketing

Marketing Trends: Doing Well by Doing Good

Marketing Trends: Event Sponsorship for Brand Awareness

Marketing Trends: Licensing to Extend a Brand's Reach

Marketing Trends: Private Label

DISTRIBUTION CHANNELS

Key Findings

Distribution Channel Scope & Introduction

Direct Sales & Wholesale Distributors

Scope & Introduction

Demand Forecast

Home Centers

Hardware Stores

E-Commerce

Mass Marketers

INDUSTRY STRUCTURE

Key Findings & Industry Composition

Market Share

Mergers & Acquisitions

Cooperative Agreements

List of Industry Participants

APPENDIX

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Freedonia Group Studies

Macroeconomic Assumptions

Economic Environment

Demographic Trends

Construction Expenditures

Residential Improvements & Repairs

Commercial Building Improvements & Repairs

Housing Completions

Motor Vehicle Industry Overview

Professional Employment Overview

Manufacturers' Shipments

Consumer Spending


List of Tables

OVERVIEW

Table 2-1 | Power & Hand Tool Demand, 2007 - 2022 (million dollars)

Table 2-2 | Consumer Purchasing Behavior: "Did you buy power tools (electric, gas, battery) or power tool accessories in the last 12 months?" by Rural/Suburban/Urban Residency, Gender, Age Group, Marital Status, & Presence of Children (percent of respondents)

Table 2-3 | Consumer Purchasing Behavior: "Did you buy any general purpose hand tools in the last 12 months?" by Rural/Suburban/Urban Residency, Gender, Age Group, Marital Status, & Presence of Children (percent of respondents)

Table 2-4 | Consumer Purchases by Product: "Please indicate which power tool(s) or power tool accessories you bought in the last 12 months."

Table 2-5 | Consumer Purchases by Product: "Which type(s) of general purpose hand tool(s) did you buy in the last 12 months?" (percent of respondents)

PRODUCTS

Table 3-1 | Tool Storage Demand by Class, 2007 - 2022 (million dollars)

Table 3-2 | Tool Storage Demand by Product, 2007 - 2022 (million dollars)

Table 3-3 | Characteristics of Tool Storage Chests & Cabinets

Table 3-4 | Key Tool Chest & Cabinet Brands by Supplier

Table 3-5 | Characteristics of Tool Storage Boxes, Cases, Bags, & Belts

Table 3-6 | Key Tool Box & Case Brands by Supplier

Table 3-7 | Key Tool Bag & Belt Brands by Supplier

Table 3-8 | Key Tool Cart Brands by Supplier

Table 3-9 | Key Tool Storage Accessory Brands by Supplier

CONSUMER TRENDS

Table 4-1 | Consumer Views on Home Improvement & Hand Tools (percent of respondents)

Table 4-2 | Primary Tool Storage Unit by Age Group, 2018 (percent of respondents)

Table 4-3 | Consumer Views on Tools & DIY Engagement by Age Group, 2018 (percent of respondents)

PRODUCT & MARKETING TRENDS

Table 5-1 | Private Label Tool Storage Brands

DISTRIBUTION CHANNELS

Table 6-1 | Tool Storage Demand by Distribution Channel, 2007 - 2022 (million dollars)

INDUSTRY STRUCTURE

Table 7-1 | Tool Storage Sales by Company, 2017 (million dollars)

Table 7-2 | Selected Acquisitions & Divestitures

Table 7-3 | Selected Cooperative Agreements

APPENDIX

Table 8-1 | Relevant Industry Codes

Table 8-2 | Abbreviations & Acronyms Used in Study

Table 8-3 | Macroeconomic Indicators, 2007 - 2022 (billion 2009 dollars)

Table 8-4 | Population & Households, 2007 - 2022 (million persons)

Table 8-5 | Construction Expenditures, 2007 - 2022 (billion dollars)

Table 8-6 | Residential Improvement & Repair Expenditures, 2007 - 2022 (billion dollars)

Table 8-7 | Commercial Building Improvement & Repair Expenditures, 2007 - 2022 (billion dollars)

Table 8-8 | New Housing Indicators, 2007 - 2022 (thousand units)

Table 8-9 | Motor Vehicle Indicators, 2007 - 2022 (thousand units)

Table 8-10 | Professional Employment Indicators, 2007 - 2022 (million persons)

Table 8-11 | Manufacturers' Shipments, 2007 - 2022 (billion dollars)

Table 8-12 | Personal Consumption Expenditures, 2007 - 2022 (billion dollars)


List of Figures

EXECUTIVE SUMMARY

Figure 1-1 | US Tool Storage Market

OVERVIEW

Figure 2-1 | Key Trends in the US Tool Storage Market

PRODUCTS

Figure 3-1 | Key Trends in US Tool Storage Products

Figure 3-2 | Examples of Tool Storage Chests & Cabinets

Figure 3-3 | Examples of Tool Boxes, Cases, Bags, & Belts

Figure 3-4 | Product Example: Home Depot's Husky Tool Cart

Figure 3-5 | Product Example: Hanson Global's ToolHANGER Organization Board

Figure 3-6 | Product Example: Industrial Magnetics' MAG-MATE Magnetic Tool Holders

Figure 3-7 | Product Example: diamondLife's ToolCart MX Mobile Pegboard

CONSUMER TRENDS

Figure 4-1 | Tool Storage Consumer Trends

Figure 4-2 | Marketing Example: DIY Workshops for Women

Figure 4-3 | Tool Ownership by Gender & Age Group, 2018 (percent of respondents)

Figure 4-4 | Primary Area of Home Used for Tool Storage by Gender, 2018 (percent of respondents)

Figure 4-5 | Primary Tool Storage Unit by Gender, 2018 (percent of respondents)

Figure 4-6 | Consumer Views on Tools & DIY Engagement, 2018 (percent of respondents)

Figure 4-7 | Area of Home Used for Tool Storage by Consumer Views on Tools & DIY Engagement, 2018 (percent of respondents)

Figure 4-8 | Primary Tool Storage Unit by Consumer Views on Tools & DIY Engagement, 2018 (percent of respondents)

PRODUCT & MARKETING TRENDS

Figure 5-1 | Key Product & Marketing Trends in Tool Storage

Figure 5-2 | SPG International's Built Tough Banner

Figure 5-3 | Product Example: Swivel Storage Solutions' Swivel Tool Chest

Figure 5-4 | Product Example: Lowe's Kobalt Tool Chests with Kwikset's SmartKey Security

Figure 5-5 | Product Example: Stanley Black & Decker's CRAFTSMAN Pro Series with Smart Lock Technology

Figure 5-6 | Product Example: JLM Accessories' Mantis Tool Grid

Figure 5-7 | Product Example: Bosch's L-BOXX Modular Tool Storage System

Figure 5-8 | Product Example: Milwaukee Electric Tool's Milwaukee PACKOUT Modular Tool Storage System

Figure 5-9 | Product Example: Lowe's Kobalt Tool Cabinet with Charging Station

Figure 5-10 | Product Example: Stanley Black & Decker's CRAFTSMAN Chest/Cabinet Combo Unit with Power Strip & USB Port

Figure 5-11 | Product Example: Team Promark Tool Box with Team Logo

Figure 5-12 | Product Example: Snap-on's Special Edition Tool Cabinets

Figure 5-13 | Product Example: John Deere & Caterpillar Branded Tool Storage

Figure 5-14 | Social Media Competitive Marketing Example

Figure 5-15 | Stanley Black & Decker's DIYZ Mobile App

Figure 5-16 | Snap-on's Rock N' Roll Cab Express

Figure 5-17 | Mac Tools Motorsports Sponsorships

Figure 5-18 | Werner's WEATHER GUARD Sponsorship of the Professional Rodeo Cowboys Association

Figure 5-19 | Selected Licensed Products

Figure 5-20 | Harbor Freight Tools Price Comparison

DISTRIBUTION CHANNELS

Figure 6-1 | Key Trends in US Tool Storage Distribution Channels

Figure 6-2 | CRAFTSMAN Tool Chest Launch at Lowe's

Figure 6-3 | Home Depot Online Ordering Options

INDUSTRY STRUCTURE

Figure 7-1 | Tool Storage Market Share, 2017 (billion dollars)

Figure 7-2 | Tool Storage Market: Leading Supplier

Figure 7-3 | Tool Storage Market: Second Leading Supplier

Figure 7-4 | Tool Storage Market: Third Leading Supplier

Figure 7-5 | Tool Storage Market: Fourth Leading Supplier

APPENDIX

Figure 8-1 | Annual Growth in Real GDP, 2000 - 2017, Compared to 1980 - 2005 Average (percent)

Figure 8-2 | Annual Population Growth, 2002 - 2017 (percent)


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