Bestselling Power Tools & Hand Tools in 2020
PANOVO (3Pcs) PE-14000 Power Hand Tools Sockets Adapter sets, Hex Square Nuts Driver Drill Impact Socket Extension Bit Adapter Socket Wrench Adapter Set 1/4" 3/8" 1/2" drive.
- drill socket adapter set Turn your power tool/drill tools/hand tools into versatile nut driver set
- Convert any power hand tool drills set into a nut socket set
- Spring loaded ball bearing locks onto socket set
- Includes 3Pcs:1/4" , 3/8", 1/2"each with a 1/4" hex drill bits fits all quick-change chucks adapter system
- Gift for Dad/Father,Husband, Boyfriend, Men,DIY Handyman
Universal Socket Wrench Set 7mm to 19mm, Poonning Multi-function Car/Auto Hand Tools Repair Kit For Power Drill Adapter
- SUPERIOR QUALITY CONSTRUCTION: This universal socket is crafted that feature supreme strength and provide you with a reliable and durable tool for efficient applications and convenient use.
- UNIQUE: Unique design automatically adjusts to any size or shape, compact and easy to carry.
- EFFICIENT VERSATILE APPLICATION: The Gator Socket adapter magical grip is appropriate for indoor or outdoor tasks and any car, motorcycle or bike repair that allows you to screw or unscrew various shapes of bolts or nuts effortlessly. Regardless of using eyebolt, wingnut, square-nut, hooks, even rusted or damaged bolt heads nothing can resist our tool!
- This lightweight Gator socket drill adapter magic grip has a compact design, it is always ready for any type of use, easy to store and portable to assist you in case of any emergency situation. This innovational ratchet wrench is designed to make your life simpler!
- GUARANTEED: If for any reason you are not satisfied, you have a full year to return the item, no questions asked.
WEN 6530 6-Amp Electric Hand Planer, 3-1/4-Inch
- 6-amp motor provides up to 34,000 cuts per minute
- 16 positive stops adjust the cutting depth anywhere from 0 to 1/8 inches
- Make rabbets up to 7/10 inch in size with the included rabbeting guide
- Lightweight design weighs in at a mere 6 pounds
- Includes power planer, dust bag, a kickstand, a parallel fence bracket and a 2-year warranty
PANOVO (5pcs Power Hand Drill Tools Set Damaged Screw Extractor Remove Set,Remove Damaged Screw and Bolt Exctractor Set + Flexible Extention Screwdriver Drill Bit Holder Universal Flexible Shaft.
- [Christmas Gift]package Include 5pcs ---- 4 pcs drill bit extractor screw extractor set works with any drill and any screw size or bolt and 1pcs Flexible Extention Screwdriver Drill Bit Holder with Magnetic Quick Connect Drive Shaft Tip.
- (4pcs)Damaged Screw Extractor and Remove Set Use: Drill a hole in the designated,and then unscrew with the extractor for virtually effortless removal. Within seconds,you can remove even the most stubborn of stripped, broken, damaged, embedded, rusted and painted-over screws and bolts from their attachment points with the greatest of ease.
- (1pcs)Flexible Extention Screwdriver Drill Bit Holder use: This soft shaft can be used for ordinary chuck hand drill, can also be used for electric screwdriver screwdriver (fixture 1/4) use. Flexible shaft head can be installed hexagonal handle (1/4 handle) head, mainly for computer chassis, electrical cabinets, furniture, electrical appliances, etc. narrow space dead angle and other screwdriver can not work environment
- Removes all kinds of screws and bolts, Philips, Standard, Hex, Torx, even a broken Eye bolt
- Screw Remove Set Made of High Strength Steel - H.S.S. 4341# , the hardness is 62-63HRC.
Asayu 8 Pcs Socket Adapter Impact Hex Shank Drill Bits Bar Set 1/4" 3/8" 1/2" Bits + 1 Pcs 105° 1/4" Right Angle Drill Adapter Attachment Power Hand Tool
Keyless Chuck Conversion - ¼” of Heavy Duty and Durable Drill Bit quick Change Adapter - Tools & Home Improvement, Power & Hand Tools, Power Drill Parts & Accessories, Drill Chucks – By Katzco
Power Hand Tools Sockets Adapter Sets Nut Drive for Drills Ratchet Extension,Hand Tools Sockets Sets 3pcs 1/4" 3/8" 1/2 Cordless Socket Socket Wrench Adapter Impact Hex Shank Drill Bits Bar Set
- Purpose: This adapter set is designed to provide a securely locked in extension to your existing tool. Provides additional length to reach into a multitude of hard to reach spaces. The spring ball lock ensures a tight fit into the driver head to prevent slipping during use. Specifically machined to fit securely into a hand held driver, drill driver or impact wrench.
- Durability: Quality is a guarantee with this 3 piece sturdy and durable solid steel set designed to withstand torque compression under most standard use situations. The exterior anti-weathering coating provides extra protection from damage against elements and substances such as oil and fluids that may come in contact with the extension bars during use with repairs such as in the automotive field.
- DESIGN: This adapter set is designed to provide a securely locked in extension to your existing tool. Provides additional length to reach into a multitude of hard to reach spaces. The spring ball lock ensures a tight fit into the driver head to prevent slipping during use. Specifically machined to fit securely into a hand held driver, drill driver or impact wrench.
- PACKAGE CONTAINS: 3Pcs:1/4" , 3/8", 1/2"each with a 1/4" hex shank/driver bits fits all quick-change drill chucks system.Turns any power drill into a power nut driver Sturdy spring-loaded ball bearing holds sockets securely in place Sockets Snap-On Tightly and Won't Slip Off.It can be used in automotive industry, household maintenance, manufacturing industry, construction and other industries.
- General Usage: This 3 piece Hex Shank Bit Driver Extension Bar Set is designed to meet a variety of needs. Fits snugly and securely in your drill chuck or hand held driver. Consisting of your most common bit sizes 1/4", 3/8", and 1/3" changing shank sizes. Provides versatility and convenience no matter which tool you chose to use. Great for the DYI,Automotive Repairs,Household Maintenance, and most general repairs. A great tool addition to any tool box set.Ratchet Universal Sockets Metric Wrench
Performance Tool W8659 Security Bit Set, 32-Piece
- 3-inch bits fit most power drills, screw guns and magnetic drivers
- Set includes the most common tamper proof sizes
- Includes tri wing bits, torque bits, spanner bits and hex bits
- Tamper Resistant Star: T8, T10, T15, T20, T25, T27, T30, T35, T40. Tamper Resistant Hex: H2, 2.5, 3, 4, 5, 6mm.
- Phillips: #1, #2. Torq: #6, #8, #10. Tri-wing: #1, #2, #3, #4. Spanner: 4, 6, 8, 10. Pozi: PZ1, PZ2, PZ3. Slotted: 1/4"
TestHelper TH-16-KIT Whole Set Multimeter Test Lead Kits Set Essential Automotive Electronic Connectors Cables Hand Tool Battery Tester & Auto Diagnostic Tools
- Fit All 4mm Multimeter,Meter
PORTER-CABLE PC60THP 6-Amp Hand Planer
- Heavy-duty 6 amp motor
- Dual side dust extraction allows for extraction on either side of the tool
- Overmold depth knob with 10 positive steps
- 3 chamfering grooves allow for options for edge chamfering
- 11.5-inch cast aluminum shoe provides added control and better finish quality
Neiko 02612A Multi-Purpose Power Hole Punch Kit, 3/32" x 9/32"
- 2.25 lb super duty all metal construction makes it the most powerful hand held hole punch in the market
- Compound high leverage design gets the job done more efficiently and requires less effort
- Precisely machined chrome vanadium steel punches and dies hardened to 52 hardness creates clean holes through sheet metals up to 16 gauge
- Includes 7 sizes of punches and dies: 3/32", 1/8", 5/32", 3/16", 7/32", 1/4", 9/32", 1-pc throat depth gauge and 1-pc heavy duty storage case
- Ideal for punching holes on a variety of materials and applications including aluminum, brass, steel sheet metal, leather, polyurethane, plastic, canvas, cardboard, paper, belt, shoes and more
BLACK+DECKER PHS550B 3.4 Amp Powered Handsaw with Storage Bag
- Powerful 3.4 amp, 4,600 SPM motor
- Powerful 3.4 amp, 4,600 SPM motor
- Cuts wood and metal; patented tool-free blade changes
- 6-foot cord; compact and lightweight design
- 2-year limited warranty
- Included with handsaw: large capacity blade, metal cutting blade, and storage bag
General Tools 500 Cordless Power Precision Screwdriver
- This cordless precision screwdriver is the perfect tool for on-the-go technicians; Great for computer, electronics, and industrial applications
- The Super-Torque drive applies more than 100 rpm through a single forward/reverse toggle switch; It's great for handling tiny screws in tight spaces
- This first-of-its-kind mini power screwdriver comes with six popular bits: Phillips #0 and #1; Slotted 1/8 and 1/16 in.; and Torx T5 and T6
- A quick-change chuck makes changing bits easy on this power screwdriver; The chuck is compatible with all micro (4mm) bits
- An ergonomic handle and a strong battery-powered motor suit this electric screwdriver for many commercial and home applications
- Includes two AAA batteries that provide more than eight hours of power
Competition in the Power Tool Industry
After reviewing the competition for the in the Power Tool Industry, we have identified 4 main competitors; Black and Decker, Makita, Bosch, and Porter Cable.
Black and Decker
Black and Decker owns many subsidiary's, which includes their Black and Decker line, DeWalt, Porter-Cable, Delta Machinery, Kwitset, Bladwin, Weiser Lock, Price Pfister, Emhart, Teknologies. This would make Black and Decker a multiple-business organization. This makes Black and Decker a powerhouse for the corporate growth strategies, using the Global approach strategy. Diversification Strategy refers to related and unrelated products, which Black and Decker not only focus's their company on power tools but many other market areas. They include; Power Tools, Laser and Sensors, Outdoor, Cleaning, Appliances and House wares, Painting and Crafts, and Storage. Their main focus is an integrated low-cost differentiation strategy. Black and Decker's competitive advantage is being a household name that most people are familiar with. Black and Decker use's the prospector strategy by which they continually find and exploit new products and new market opportunities. You cannot only find Black and Decker's power tools and many other items they sell in the USA, but in many other countries around the world.
Porter-Cable is a subsidiary of Black and Decker. Their primary focus is on the Commercial and Industrial Applications. They have a strategic alliance with Delta-Machinery, which is, another subsidiary of Black and Decker and is known for its mass assortment of wood working tools. They also have a strategic alliance with the New Yankee Workshop, which is a TV program that teachers different home projects. Porter-Cable sells strictly to the USA and Canada. As a corporate strategy, their focus is on the concentration strategy, producing high end, and high quality tools. One of the ways that Porter-Cable differentiates itself from its competitors is Porter-Cable makes machines to make tools. Another niche that Porter-Cable exploits is that it has portable stores that it goes around to factories and sends reps into the factories to sell its products, an innovative marketing technique that no other company does.
Makita best know for its high standards in doing research and development, they are considered to deal in professional products. Their research and development strategies use a product development, first mover strategy. This gives than an advantage for being innovative and an industry leader. This gives Makita an opportunity to begin building customer relationships and customer loyalty. This is known as the prospector strategy which defines Makita as continually being innovative by finding and exploiting new product and market opportunities. Their focus is doing trade shows and having in store demonstrations to market their products to the professionals. Using a corporate growth strategy, their focus is in producing advanced cordless technology with being the industry leader in battery and charger technology. With Makita's headquarters located in Japan, this company is considered to be a multi-national company using the global approach strategy. They use a Japanese Strategy in marketing to drive out its competition by making low profits similar to that of TV and VCR sales in the late 80's.
Bosch, like Black and Decker has many subsidiaries' which includes an automotive, industrial, consumer goods and building technology. Their automotive group includes; Gasoline and diesel systems, chassis systems control, chassis brake systems, car multimedia, energy and body systems, automotive electronics, automotive aftermarket, and ZF steering systems. Bosch Rexroth AG, a subsidiary with its headquarters in Lohr am Main, is one of the world's leading suppliers of drive, control and motion solutions. In over 80 countries the Drive amp; Control Company develops, produces and sells components and systems for industrial and factory automation as well as for mobile applications. Bosch also has packaging technology, thermotechnology, household appliances, security systems and power tools. Using this Diversification Strategy we can say that Bosch is into a little of everything having related and unrelated product lines. As a corporate strategy, Bosch focuses on a concentration strategy being high end products. They seem to use the reactor strategy which is a lack of a coherent strategic plan. In their power tool division, they focus on selling to the professional and getting them to pay a higher price for higher quality products. Bosch is known for its warranty and guarantees of their products and people are willing to pay a higher price for this. Bosch uses a global approach strategy to sell its products worldwide.
In order to better understand the potential markets. I have divided up our four main competitors by what types of consumers purchase their products listed in the chart below.
Black and Decker - Consumer Do it yourselfer
Makita - Professional / Commerical
Bosch - Professional / Commerical
Porter - Cable - Commercial and Industrial
Considering that forecasting services and other information agencies often differ in their predication of the future state of the power tool industry and vital economic indicators, how would you go about putting a forecast together given these disparities? We first must understand why we have these disparities. The power tool industry is considered to be seasonal, which sales being higher during the summer months due to new construction, remodeling and home improvement. Sales for power tools also tends to be higher during the holiday season (Christmas) because they are purchased as gifts for many consumer / do it yourselfer and professionals. By doing an analysis of these external factors, you can be considered to be a proactive manager. You can plan and anticipate changes in the market and plan according to adapt to these changes. A challenge that you may face is that the environment might be changing more rapidly than you can keep up with. By keeping track of the trends you can prepare the company and adjust your forecast accordingly.
Therefore when preparing a forecast, we will have to consider who our target market is, be aware of vital economic indicators such as interest rates on the rise or decline, technology advances and the selling seasons.
Coulter M.K., (2005) Strategic Management - In Action, Third Edition, Upper Saddle River, NJ: Pearson Education, Inc., Pearson Pretense Hall.
McEachran, Mark, July 22, 2020, General Motors Engineer, Interview about Power Tools and what they use at GM.
All Company Background information obtained from the internet on July 23, 2020 from the prospective corporate websites.