The global b2b e-commerce marketplaces by power tools & accessories market is valued at US$ 4.6 Bn in 2020 and is anticipated to register CAGR of 18.5% from 2021-2028.
The E-commerce industry is witnessing high growth in developed and developing countries due to the high penetration of the internet, coupled with small & mid-size enterprises approaching third-party websites in order to enhance the customer base are major factors expected to drive the growth of global b2b e-commerce marketplaces by power tools & accessories market. Rapid product development activities are carried out by players to enhancing their business and customer base through providing smart products. They are providing smart products at affordable prices providing customers the power to compare and choose the product. Walmart, a global e-commerce player in 2017 sold US$ 50,000,000 products associated with first party and third party further generating revenue of US$ 11.5 billion in the US. Jet, a wholly-owned subsidiary of Walmart has more than 2,400 retailers and third-party sellers on their platform. The E-commerce industry is growing rapidly year-on-year basis. According to the U.S. Census Bureau, the total e-commerce sale of the US was worth US$ 473 billion in 2018.
Major player's approach towards enhancing the business overseas and track the untapped market in the developing region is expected to boost the growth of b2b e-commerce marketplaces by power tools & accessories market. Favorable business policies, low tax rate is resulting in the surfacing of new organizations with innovative solutions. This is expected to support the growth of target market. Demand for products such as drills, saws, wrenches, and grinders is increasing. With the pandemic at its peak, the government has imposed strict regulations related to lockdowns and safety measures. Shut down of retail shops had consumer chose e-commerce websites over retail stroes. These websites are providing consumers the opportunity to compare the different products along with the price and functionality. Furthermore, the availability of heavy discounts and exchange options is expected to make online the proffered channel. These factors are expected to impact the growth of b2b e-commerce marketplaces by power tools & accessories market. Some smart products are launched by players and offered through the first-party and third-party websites in order to increase the sale.
In 2021, Lowe’s and Chervon, a global power tool manufacturer launched “FLEX cordless power tools”. This new product line is cutting-edge tools aimed at professional users. The products will be available for sale on the company website and another party sale as well.
Factors such as irregularity in prices of the raw material and lack of developed infrastructure in developing countries are anticipated to hinder the growth of global b2b e-commerce marketplaces by power tools & accessories market. In addition, unstable economic condition is expected to impact consumer spending further challenging the growth of target market. However, increasing focus on product development, rise in specialized B2B sale platform providing quantity discounts, multiple payment options and increasing government spending on development of infrastructure are factors expected to create new opportunities for players operating in the b2b e-commerce marketplaces by power tools & accessories market over the forecast period. In addition, increasing players focus on strengthening the distribution channel is expected to support the revenue transaction of the target market.
|Market||B2B E-commerce Marketplaces By Power Tools & Accessories Market|
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Power Tools, By Application and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||
Alibaba.com, Amazon.com, Inc., ChinaAseanTrade.com, DIYTrade.com, eBay Inc., eworldtrade.com, Ferguson Enterprises, LLC., Flipkart.com, IndiaMART InterMESH Ltd., Quill Lincolnshire, Inc., and W.W. Grainger, Inc
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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B2B E-commerce Marketplaces By Power Tools & Accessories Market Segment Analysis, 2020
The product type segment of the global b2b e-commerce marketplaces by power tools & accessories market is bifurcated into drills, saws, wrenches, grinders, sanders, and others. Among the product type, the drill segment is expected to account for major revenue share in the target segment due to increasing demand for power drills from the commercial and industrial sectors. With the availability of a variety of options, online preference for e-commerce buying is increasing. Players providing new enhanced drills with different discounts with the focus to enhance the consumer buying experience are expected to augment the segment growth.
Players profiled in the global b2b e-commerce marketplaces by power tools & accessories market are Alibaba.com, Amazon.com, Inc., ChinaAseanTrade.com, DIYTrade.com, eBay Inc., eworldtrade.com, Ferguson Enterprises, LLC., Flipkart.com, IndiaMART InterMESH Ltd., Quill Lincolnshire, Inc., and W.W. Grainger, Inc.. The market is highly competitive due to the large presence of players operating in the market.
Market by Power Tools:
Market By Geography
The global b2b e-commerce marketplaces by power tools & accessories market is valued to be above US$ 4.6 Bn in 2020 and from 2021-2028 is above 18.5%
Prominent players operating in the target market are Alibaba.com, Amazon.com, Inc., ChinaAseanTrade.com, DIYTrade.com, eBay Inc., eworldtrade.com, and Ferguson Enterprises, LLC.
North America dominated and Asia Pacific region exhibited the fastest growing CAGR