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The world market for power tools continued to grow in 2005 at constant exchange rates. When expressed in percentage terms, the
According to market research from Bosch, the global market for power tools experienced growth of four per cent in terms of value to € 7.6 bn in 2005. An increase of 6 per cent to 150 mio units is on record in terms of volume.
There were differences in the progress made in individual regions. The European market volume grew by two per cent at constant exchange rates to € 3.1 bn. This growth was mainly supported by the economic drive coming from the east European countries. The markets in western Europe are marked by stagnation as a result of the declining economic situation of the construction industry – the only exception being Spain, with seven per cent growth. In Germany the volume by value went down by three per cent to € 500 mio. This contrasts with an increase in quantity of three per cent to a total of 11 mio units. “That is the result of the uninterrupted price war in the DIY stores,” is how Henning von Boxberg, director of sales and marketing for central Europe in the power tools division, explains this development. The average price of these tools in the large-format stores has again been reduced so that it now amounts to € 36 (compared with € 42 in 1996). The feeling at Bosch is that last year saw a reinforcing of the rethink going on in the DIY stores of Europe, away from a straight volume orientation to more value orientation. Or more explicitly: away from low-price tools towards more quality. In terms of value, large numbers of Bosch products fill the top rankings (twelve out of 15). In terms of quantity, though, Uwe Raschke, chairman of the divisional management, admits that scarcely one of the brand products would make it into the top slots.
In the second largest individual market, North America, the market volume recorded an eight per cent increase to € 2.7 bn. And the market in Latin America saw growth of 14 per cent from a low starting level. The Bosch market researchers also draw up a positive balance for the Far East (Asia, Australia and Oceania), which saw a four per cent increase in market volume to € 1.3 bn. The market in Japan is continuing its process of recovery, and the rest of Asia is showing strong growth.
The expectation at Bosch is that the global market for power tools will experience value growth of three to four per cent annually, both this year and next. Growth of four per cent is assumed in terms of volume. Within Europe, the impetus for growth will continue to come from the east European states in particular.
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There were differences in the progress made in individual regions. The European market volume grew by two per cent at constant exchange rates to € 3.1 bn. This growth was mainly supported by the economic drive coming from the east European countries. The markets in western Europe are marked by stagnation as a result of the declining economic situation of the construction industry – the only exception being Spain, with seven per cent growth. In Germany the volume by value went down by three per cent to € 500 mio. This contrasts with an increase in quantity of three per cent to a total of 11 mio units. “That is the result of the uninterrupted price war in the DIY stores,” is how Henning von Boxberg, director of sales and marketing for central Europe in the power tools division, explains this development. The average price of these tools in the large-format stores has again been reduced so that it now amounts to € 36 (compared with € 42 in 1996). The feeling at Bosch is that last year saw a reinforcing of the rethink going on in the DIY stores of Europe, away from a straight volume orientation to more value orientation. Or more explicitly: away from low-price tools towards more quality. In terms of value, large numbers of Bosch products fill the top rankings (twelve out of 15). In terms of quantity, though, Uwe Raschke, chairman of the divisional management, admits that scarcely one of the brand products would make it into the top slots.
In the second largest individual market, North America, the market volume recorded an eight per cent increase to € 2.7 bn. And the market in Latin America saw growth of 14 per cent from a low starting level. The Bosch market researchers also draw up a positive balance for the Far East (Asia, Australia and Oceania), which saw a four per cent increase in market volume to € 1.3 bn. The market in Japan is continuing its process of recovery, and the rest of Asia is showing strong growth.
The expectation at Bosch is that the global market for power tools will experience value growth of three to four per cent annually, both this year and next. Growth of four per cent is assumed in terms of volume. Within Europe, the impetus for growth will continue to come from the east European states in particular.
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