Power Tools & Other General Purpose Machinery Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS 33399Revenue
$64.5bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
154k
Businesses
2,981
Wages
$XX.Xbn
Power Tools & Other General Purpose Machinery Manufacturing in the US industry analysis
The pandemic significantly impacted the machinery manufacturing industry, leading to a temporary decline due to reduced demand from sectors like automotive, aerospace and construction. Measures like social distancing and labor shortages forced these industries to scale back operations, diminishing the need for new machinery. Additionally, global supply chain disruptions caused delays in raw material and component deliveries. The industry also faced elevated volatility due to fluctuating commodity prices, which, while increasing production costs, contributed to notable revenue growth between 2021 and 2022.
Trends and Insights
- The pandemic reduced demand, although the impact varied. It had the biggest effect on demand for industrial process furnaces and ovens while affecting packaging machinery manufacturers much less severely.
- Exports play a pivotal role in the industry, consistently representing its largest revenue source. Over one-third of the industry's revenue is attributed to international sales, highlighting the significant reliance on global markets.
- Power tool manufacturers congregate close to other manufacturers. This cuts down on transportation costs and makes manufacturers more attractive to such downstream markets.
- Internal competition varies from one product segment to another. Price points primarily form the basis for competition between similar goods.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.3 % over the past five years, to reach an estimated $64.5bn in 2024.
Trends and Insights
The pandemic led to reduced demand, contributing to a temporary industry decline
- Many industries that rely on general-purpose machinery, such as automotive, aerospace, and construction, scaled back their operations due to reduced demand, labor shortages and social distancing measures. This led to a decreased need for new machinery and equipment.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Economic growth will stimulate the industry, contributing to stable growth
- Demand for products within this industry, such as packaging machinery, industrial process furnaces and fluid power pumps, is influenced by economic fluctuations. Companies typically increase capital expenditures on these products during periods of economic growth.
Biggest companies in the Power Tools & Other General Purpose Machinery Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Stanley Black & Decker, Inc. | 5,556.9 | 804.6 | 14.5 | |
Techtronic Industries Co Ltd | 3,790.6 | 343.1 | 9.1 | |
Midea Group Co. Ltd | 2,344.3 | 159.4 | 6.8 |
To view the market share and analysis for all 69 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including All other general-purpose machinery, Welding and soldering equipment and Fluid-power cylinders, pumps, motors and actuators. All other general-purpose machinery is the largest segment of the Power Tools & Other General Purpose Machinery Manufacturing in the US.
Trends and Insights
Industrial automation and infrastructure development boost demand for fluid-power cylinders and actuators
- Demand for fluid-power cylinders and actuators is primarily driven by industrial automation and manufacturing processes, where precise control is critical. Industries such as automotive, aerospace and construction rely on these components for efficient and reliable operation of machinery and equipment.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Hand Tool & Cutlery Manufacturing in the US
Complementors
- Copier & Optical Machinery Manufacturing in the US
- Pump & Compressor Manufacturing in the US
- Electrical Equipment Manufacturing in the US
International industries
- Power Tools & Other General-Purpose Machinery Manufacturing in Canada
- Machine Tool and Parts Manufacturing in Australia
- Hand Power Tool Manufacturing in the UK
Table of Contents
About this industry
Industry definition
Items manufactured in this industry include power-driven hand tools; welding and soldering equipment; packaging machinery; industrial-process furnaces and ovens; fluid-power cylinders and actuators; fluid-power pumps and motors; scales and balances; and miscellaneous general-purpose machinery.
What's included in this industry?
Miscellaneous general-purpose machinery manufacturingWelding and soldering equipment manufacturingFluid-power cylinder and actuator manufacturingPackaging-machinery manufacturingFluid-power pump and motor manufacturingPower-driven hand-tool manufacturingIndustrial-process furnace and oven manufacturingScale and balance manufacturingCompanies
Stanley Black & Decker, Inc.Techtronic Industries Co LtdMidea Group Co. LtdPurchase this report to view all 69 major companies in this industry.
Related Terms
ACTUATORINDUSTRIAL ROBOTSFLUID-POWER TECHNOLOGY DO-IT-YOURSELF (DIY) ORIGINAL EQUIPMENT MANUFACTURERS (OEM)Industry Code
NAICS 33399 - Power Tools & Other General Purpose Machinery Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The pandemic reduced demand, although the impact varied. It had the biggest effect on demand for industrial process furnaces and ovens while affecting packaging machinery man...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Exports play a pivotal role in the industry, consistently representing its largest revenue source. Over one-third of the industry's revenue is attributed to international sal...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Power tool manufacturers congregate close to other manufacturers. This cuts down on transportation costs and makes manufacturers more attractive to such downstream markets.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Internal competition varies from one product segment to another. Price points primarily form the basis for competition between similar goods.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Stanley Black & Decker has been actively working on controlling costs and improving efficiency across its operations. The company invested in innovation, particularly in smar...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Stanley Black & Decker, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Techtronic Industries Co Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Midea Group Co. Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 66 additional companies
Detailed analysis
- Description and key data for Stanley Black & Decker, Inc., and factors influencing its performance in the industry
- Description and key data for Techtronic Industries Co Ltd, and factors influencing its performance in the industry
- Description and key data for Midea Group Co. Ltd, and factors influencing its performance in the industry
- Description, key data and performance trends for 66 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The federal government has outlined strict worker and environmental safety rules that manufacturers must adhere. Failure to do so could result in extensive fines or even forc...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit growth has been driven by gradual consolidation and efficient cost management. The industry maintained historically high levels of profitability through operational ef...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Power Tools & Other General Purpose Machinery Manufacturing in the US industry in United States in 2024?
The market size of the Power Tools & Other General Purpose Machinery Manufacturing in the US industry in United States is $64.5bn in 2024.
How many businesses are there in the Power Tools & Other General Purpose Machinery Manufacturing in the US industry in 2024?
There are 2,981 businesses in the Power Tools & Other General Purpose Machinery Manufacturing in the US industry in United States, which has declined at a CAGR of 0.8 % between 2019 and 2024.
Has the Power Tools & Other General Purpose Machinery Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Power Tools & Other General Purpose Machinery Manufacturing in the US industry in United States has been growing at a CAGR of 1.3 % between 2019 and 2024.
What is the forecast growth of the Power Tools & Other General Purpose Machinery Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Power Tools & Other General Purpose Machinery Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Power Tools & Other General Purpose Machinery Manufacturing in the US market in United States?
The biggest companies operating in the Power Tools & Other General Purpose Machinery Manufacturing market in United States are Stanley Black & Decker, Inc., Techtronic Industries Co Ltd and Midea Group Co. Ltd
What does the Power Tools & Other General Purpose Machinery Manufacturing in the US in United States include?
Miscellaneous general-purpose machinery manufacturing and Welding and soldering equipment manufacturing are part of the Power Tools & Other General Purpose Machinery Manufacturing in the US industry.
Which companies have the highest market share in the Power Tools & Other General Purpose Machinery Manufacturing in the US in United States?
The company holding the most market share in United States is Stanley Black & Decker, Inc..
How competitive is the Power Tools & Other General Purpose Machinery Manufacturing in the US industry in United States?
The level of competition is moderate and steady in the Power Tools & Other General Purpose Machinery Manufacturing in the US industry in United States.
