by Growth of New Zealand Power Tool Market
With the rapid growth of New Zealand’s cities over the past decade, there has been huge demand for new residential and commercial construction projects. The construction industry has boomed as more housing developments and office buildings have gone up across the country. This construction boom has been a major driver for the growth of the power tools industry in New Zealand. As thousands of tradespeople work on various construction jobs daily, there is consistently high demand for reliable power tools that can help workers complete tasks efficiently. According to Statistics New Zealand, the value of building and construction work done in the country reached a record high of $40.9 billion in the year ending March 2020. This points to the rising need for power tools that contractors and builders rely on every day.
Rise of New Zealand Power Tool Market
Along with the increase in construction activity, the number of tool rental companies in New Zealand has also expanded significantly in recent years. These rental companies offer tradespeople and DIY enthusiasts access to a wide range of power tools without having to purchase expensive equipment upfront. Contractors who work on different job sites can rent tools as needed rather than buying tools they may only use occasionally. The tool rental business model has grown in popularity as it provides flexibility and cost savings. Major rental brands like Sunbelt, Hirepool, and Tool Rentals NZ now have outlets spread across the country. Their extensive tool inventories that include drills, saws, sanders, cutters and more have supported the construction industry.
Innovation from Leading Tool Manufacturers
Leading global Power Tool brands like Milwaukee, Makita, Bosch and DeWalt have established a strong presence in New Zealand by catering to the demands of professional tradespeople and consumers. These manufacturers have launched various innovative new tools tailored for the local market. For example, Milwaukee recently unveiled its new M18 FUEL hang drill/impacts which provide up to 50% more runtime compared to previous generations. Makita has upgraded itshydraulic breaker range with models like the DB2221 offering power and durability for demanding breaking jobs. Bosch launched its Professional GSB 18V-21 cordless multi-tool system consisting of popular attachments like oscillating tools. Such continual product improvements and new additions have kept New Zealand’s tradespeople equipped with the latest technology. They have helped optimize workflow and complete tasks more efficiently on jobsites.
Growing DIY/Home Improvement Trend
Along with the construction boom, there is a significant DIY and home improvement trend taking shape in New Zealand households. More homeowners are choosing to renovate existing homes or undertake small construction tasks themselves. This has created additional demand for power tools in the consumer segment. According to Retail NZ, the DIY/home improvement retail market was worth $3.4 billion in 2020. Popular categories include power tools, building supplies, hardware and more. Leading retailers like Mitre 10, PlaceMakers, Bunnings and Repco have expanded their power tool inventories and range to cater to homeowners’ needs. Cordless drill/driver kits and multipurpose tools from major brands have become top sellers. This rise of the DIY culture and increased home ownership has been another contributor to the growth of New Zealand’s power tools industry over the past decade.
Skills Training & Apprenticeship Programs
As the construction industry booms, training the next generation of skilled tradespeople has also become a priority for the New Zealand government and private companies. Polytechnics and technical institutes across the country offer various certificate and diploma level courses in construction related fields like carpentry, plumbing, bricklaying etc. These programs include hands-on lessons teaching students how to use essential power tools safely and effectively. For example, the Carpenter Training Centre in Auckland provides apprentices extensive skills development with the latest Makita and Milwaukee tool lineups. Leading brands also provide product and safety training sessions directly to upskill tradespeople. The focus on trades training point to secure demand for power tools long into the future as more apprentices enter the industry.
Sustainability Initiatives
With sustainability becoming increasingly important, major power tool manufacturers have been making progress in this area too. For example, Milwaukee’s M12 battery system tools use 90% recyclable materials and produce 60% less carbon emissions during use compared to corded alternatives. Makita has developed an initiative called “Cleaning Community” under which users can trade in old tools at recycling centers to promote reuse of materials. Many brands have also transitioned their entire product lineups to efficient lithium-ion batteries that provide better runtime while reducing waste. New Zealand’s Clean Technology industry body expects power tools to be at the forefront of developing even cleaner manufacturing and sustainable product life cycle approaches in coming years.
In summary, New Zealand has witnessed tremendous growth in the power tools industry over the past decade mainly driven by construction and DIY demand. Innovation from leading global manufacturers has supported this by offering specialized solutions optimized for local market needs. Alongside this, trades skills training and sustainability initiatives point towards securing continued demand for reliable power equipment moving forward. While implementation of large infrastructure projects remained impacted during the recent global pandemic, the long-term outlook remains positive as both residential and commercial building activity is anticipated to scale new heights, further boosting the power tools industry in New Zealand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
