Top Ten Power Tool Manufacturers in the World

Stihl
By Santeri Viinamäki, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=77633263

Between 2017 and 2021, the power tool market worldwide is expected to grow by more than $7.44 billion. According to Zion Market Research, the global power tools market was estimated to be approximately $27 billion by year-end 2018. Looking ahead, it is expected to reach $36 billion by 2025. This represents an expected compound annual growth rate of 4.14 per cent.

The global trend towards urbanisation is just one of the factors that have led to robust sales in the power tool market. Another contributing factor is the rise of a do-it-yourself (DIY) culture. Part of the impetus behind this shift can be attributed to the popularity of home renovation reality TV shows. Now more than ever, people are inspired to take on projects that previously would have been left to professional contractors. This, in turn, leads to a spike in the purchase of power tools.

The power tools market is somewhat unique in that many of the major players have been bought up by competitors leaving around four super-conglomerates in the field. For a snapshot of the main companies in the field today, here are ten of the largest power tools manufacturers in the world based on 2018 revenue.

10. Chervon

Revenue: ±$1 billion
Country of Origin: China
Founded: 1993
Employees: 1,001-5,000

Chervon
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Although not as old as some of the other entries on this list, Chervon has quickly grown into one of the top power tool manufacturers in the world. Chervon was launched in Nanjing, China in 1993 and has since grown into an international force in the sector. The company sells products in more than 30,000 stores and dealers in 65 different countries.

Chervon offers a line of both professional-grade and consumer-grade power tools. These products are manufactured in their two production facilities located in Nanjing as well as Steinheim, Germany. Their business operations are focused mainly on North America, Europe, China and Oceania.

Operations for their power tool line includes research and development, sourcing, manufacturing, testing, marketing, sales and distribution and after-sale service. Among their more popular brands are Devon (developed exclusively for the Asian market), Flex, Skil, Ego (cordless line of power tools), X-Tron, Calmdura (for European market), Hammerhead and Skilsaw.

9. Apex Tool Group

Revenue: $1.4 billion
Country of Origin: United States
Founded: 2010
Employees: 8,000

By Unknown or not provided – U.S. National Archives and Records Administration, Public Domain, https://commons.wikimedia.org/w/index.php?curid=80663329

The Apex Tool Group (ATG) is a relatively new entrant into the power tool market, having been around only since 2010. ATG prides itself on being one of the largest manufacturers of professional hand and power tools in the world. They serve the industrial, vehicle service and assembly, aerospace, electronics, construction and DIY markets.

Headquartered in Sparks, Maryland, ATG has operations in more than 30 countries around the world. They have manufacturing facilities in more than 30 locations throughout North and South America, Europe, Australia and Asia. Combined, their operations employ more than 8,000 people worldwide and generated $1.4 billion in revenue in 2018.

ATG offers more than 30 different power tool brands including SATA®, GearWrench®, Weller®, Wiss®, Lufkin®, Cleco® and Crescent®. ATG was born out of a merger of Cooper Tools and Danaher’s Tools and Components. Two years after its founding, it was sold to Bain Capital for an estimated $1.6 billion.

8. Koki Holdings

Revenue: $1.8 billion
Country of Origin: Japan
Founded: 1948
Employees: 6,446

Koki
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Koki Holdings has been in the business of designing and manufacturing power tools for more than 70 years. Founded in 1948, Koki has grown into one of the world’s largest power tool companies, with 2018 revenue of 191,161 million yen or approximately $1.8 billion. The company is headquartered in Tokyo, Japan and employs more than 6,400 people worldwide.

Koki Holdings has two main divisions – power tools and centrifuges and processing equipment. Their line of power tools includes power tools metalworking, woodworking, cordless, construction and pneumatic tools (nailers, screwdrivers and compressors for nailers), woodworking machines, outdoor power equipment, gardening tools, household power tools, dust collectors, measure laser tools and accessories.

Metabo HPT is the company’s main brand of power tools. HPT stands for Hitachi Power Tools, as the company was part of the Hitachi organisation until its sale to Koki in 2017. It was rebranded as Metabo HTP in October 2018. Metabo HTP is the leading pneumatic brand in North America.

7. Stihl

Revenue: $3.91 billion
Country of Origin: Germany
Founded: 1926
Employees: 14,920

Stihl
By Santeri Viinamäki, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=77633263

Stihl is a German manufacturer of power tools and is best known as the world’s leading brand of chainsaws. In fact, company founder Andreas Stihl built the very first chainsaw in 1926 and launched his company the same year. Today, Stihl power tools can be found in more than 160 countries around the world.

For the first 50 years of its existence, Stihl was exclusively a chainsaw-producing company. However, in the 1970s, Stihl expanded its product line to include other home-use power tools. They started by adding a line of weed trimmers they sourced from a Japanese company until they built their own models. Today, Stihl offers a wide range of power tools for home use, including blowers, hedge trimmers, lawnmower, drills, concrete cutters, chainsaws and edgers.

Stihl’s retail model involves selling only through independent servicing dealers and not through big-box chain retailers. This is to provide the best possible customer service where assembly, pre-delivery inspection and maintenance service will be delivered to a certain standard.

6. Husqvarna

Revenue: $4.32 billion
Country of Origin: Sweden
Founded: 1757
Employees: 13,000

Husqvarna
By Charles & Hudson – Flickr: Husqvarna Product Tour, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=16866135

Husqvarna is a Swedish-based company whose roots trace back to 1689. Headquartered in both Stockholm and Huskvarna, Sweden, the group is a global leader in power tool cutting equipment. The Husqvarna Group operates in more than 40 countries around the world, employing approximately 13,000 people. In 2018, the group generated SEK 41 billion or just over $4.3 billion.

The Group is divided into three main business divisions – Husqvarna Division, Gardenea Division and the Construction Divisions. The Husqvarna division offers a line of products primarily for tree care and landscaping, such as chainsaws and power lawnmowers. The Gardenea Division focuses on watering and high-quality garden tools. These products are the leading brand of their type in Europe and can be found in more than 80 countries around the world. The Construction division offers machinery and diamond tools for the construction and stone industries.

The Group has products line including lawnmowers, blowers, chainsaws, power cutters, trimmers, snow throwers, edgers and turf care products.

5. Makita

Revenue: $4.52 billion
Country of Origin: Japan
Founded: 1915
Employees: 13,845

Makita
By Mark Hunter – Flickr: Makita Auto-feed Screwdriver, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=15793207

Makita is a Japanese company that has become a household name in the power tools sector. Founded in 1915 as an electric motor repair company, Makita has grown to become one of the industry leaders. Headquartered in Anjō, Japan, the company earned just over $4.5 billion in revenue in 2018.

Makita is perhaps best known for paving the way for certain power tools and cordless tools beginning in the late 1950s. In 1958, they entered the power tool sector with the introduction of their portable electrical planer. Just over a decade later, they unveiled their 6500D battery-powered drill, which represented the first-ever rechargeable power tool. Today they have a full line of cordless tools including screwdrivers, impact wrenches rotary hammers, angle grinders, planers and metal shears.

The Makita brand of power tools can be found in more than 40 countries around the world. Their products are manufactured in one of 10 production facilities located in Brazil, China, Japan, Mexico, Romania, the United Kingdom, Germany and the United States.

4. Techtronic

Revenue: $7.02 billion
Country of Origin: Hong Kong
Founded: 1985
Employees: 23,279

Techtronic
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Techtronic Industries Company Limited is the parent company for several well-known and successful power tool brands. Founded in Hong Kong in 1985, the group oversees such heavyweights in the sector such as Milwaukee, AEG, Ryobi, Homelite, Empire, Stiletto, Hoover US, Hart, Oreck, Vax and Dirt Devil. Their product lines include power tools, outdoor power equipment, accessories, hand tools, layout and measuring tools, floor care and appliances.

Techtronic takes great pride in being a global strategy-based organisation. They have built the company on four strategic areas that would drive their success: Powerful Brands, Innovative Products, Exceptional People and Operational Excellence. The bottom-line results suggest they are on the right track.

Combined, the entire Techtronic group earned $7.02 billion in 2018. This marks a 15.8 per cent increase over the previous year’s total $6.06 billion. The 2018 revenue total represents their 9th consecutive year of record revenue earnings. Their 2018 net profit figure came in at $552 million.

3. Stanley Black & Decker

Revenue: $13.98 billion
Country of Origin: USA
Founded: 1843
Employees: 57,765

Black & Decker
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Stanley Black & Decker is one of the oldest and perhaps best-known brands on this list. In 2018, the company marked their 175th year in business, with just under $14 billion in global revenue. Headquartered in New Britain, Connecticut, Stanley Black & Decker lays claim to being the world’s largest, fastest-growing and most innovative tools and storage company.

The organisation’s roots trace back to 1843 when Frederick Stanley opened his bold and hinge manufacturing shop in New Britain. In 1910, Duncan Black and Alonzo Decker started their similar business in Baltimore, Maryland. One hundred years later, the two tool giants merged to form the group that exists today.

Stanley Black & Deckers offers some of the best-known power tool brands in the world including Stanley, Dewalt, Black & Decker, Craftsman, Irwin, Mag Tools, Lenox, Porter & Cable, Lista, Vidmar Bostitch, Proto, Sidchrome, Powers and Facom. The company estimates that they sell 50 tools per second around the world. Stanley Black & Decker continues to enjoy robust growth. In the period 2014-2018, they saw an average organic growth of 5 per cent.

2. 3M

Revenue: $32.77 billion
Country of Origin: United States

Founded: 1902
Employees: 93,516

3M
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Although not known primarily as a power tool company, industrial giant 3M is one of the world’s largest operations with a line of metalworking power tools. Founded in Minnesota in 1902 as the Minnesota Mining and Manufacturing Company, the organisation has gone on to become one of the most iconic and successful conglomerates, with several notable inventions such as scotch tape. In 2018, 3M brought in $32.77 billion in combined global revenue.

3M’s power tool division involves mostly metalwork tools. They offer a line of state-of-the-art tools such as cut-off wheel tools, die grinders, disc sanders, grinding tools, portable belt sanders and random orbital sanders.

In the United States, 3M operates 80 manufacturing facilities in 29 states. Internationally, they have 125 manufacturing and converting facilities in 37 different countries. In 2016, 3M built a $150 million, 37,000-square-metre research and development building on its Maplewood campus.

1. Bosch

Revenue: $88.8 billion
Country of Origin: Germany
Founded: 1886
Employees: 410,000

Bosch
Photo by Sven Brandsma on Unsplash

German-based Bosch tops the list of largest power tool manufacturers in the world with 2018 revenue coming in at just under $89 billion. It was originally launched in Stuttgart-West as the Werkstätte für Feinmechanik und Elektrotechnik, which translates to Workshop for Precision Mechanics and Electrical Engineering. Today it stands as one of Germany’s major conglomerates, with operations divided into four business sectors: mobility solutions, industrial technology, consumer goods and energy and building technology.

Bosch’s line of power tools falls under its consumer goods division, which accounted for 23 per cent of total Bosch Group sales in 2018. The power tools division includes hammer drills, cordless screwdrivers, jigsaws, lawnmowers, hedge trimmers and high-pressure cleaners. The main brands in this division include Dremel, Siemens, Neff GmbH and Gaggenau Hausgeräte.

In total, the Bosch Group is comprised of more than 440 subsidiaries in over 60 countries worldwide. They have operations in more than 125 locations in just about every corner of the world, employing nearly 410,000 people.