PUBLISHER: Grand View Research | PRODUCT CODE: 1633785
PUBLISHER: Grand View Research | PRODUCT CODE: 1633785
The global B2B e-commerce marketplaces by power tools & accessories market size is estimated to reach USD 191.93 billion by 2030, registering a CAGR of 23.7% from 2025 to 2030, according to a new report by Grand View Research, Inc. The outbreak of the COVID-19 pandemic is prompting both buyers and sellers to consider third-party digital channels to buy and sell power tools, thereby driving the growth of the market over the forecast period. Manufacturers of power tools primarily rely on direct sales via e-commerce websites and distributors for selling their products. However, the growing popularity of third-party marketplaces, such as Amazon.com and eBay, owing to various marketing and promotional strategies, such as high discounts and coupons, these marketplaces pursue are particularly proving lucrative for power tool manufacturers.
The sales of power tools witnessed single-digit growth in the B2B marketplaces in 2024. However, they are expected to grow significantly over the next seven years. Marketplaces, such as Amazon.com, eBay, and Alibaba.com, have gained significant popularity among buyers worldwide. Bulk discounts and contractual pricing have typically triggered a paradigm shift in the buyers' attitude toward these e-commerce marketplaces, which bodes well for the growth of the market over the forecast period.
The preference for DIY among individuals for home improvement activities is growing significantly, thereby encouraging e-commerce marketplaces to increase their Stock Keeping Units (SKUs) to cater to the rising demand for DIY tools. Home improvement activities typically call for power tools, such as power drills, circular saws, impact wrenches, hammer drills, and grinders. They can help individuals in various home improvement activities, such as roofing, kitchen and bathroom remodeling, and landscaping, among others. E-commerce marketplaces offer a wide range and options for buyers to choose the power tools of their choice. Various key functionalities, such as comparison of products on various parameters, coupled with transparency in features and prices are particularly encouraging buyers to prefer B2B e-commerce marketplaces over other channels, thereby contributing to the growth of the market over the forecast period.