New Zealand Power Tool Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (undefined)

New Zealand Power Tool Market Trends

• Adoption of artificial intelligence and Internet of Things in power tools: The use of artificial intelligence and internet of things technologies is having a profound impact on the power tools market in New Zealand. These next generation smart power tools are being designed with advanced sensors and cloud connectivity that provide real-time operational insights. This is allowing tool manufacturers to enhance safety, efficiency, and maintenance for both commercial customers and prosumer users. According to Statistics New Zealand's Building Consents data, the construction industry saw continued growth in 2022 with a 10.1% increase in new dwelling consents issued compared to 2021. This favorable market condition points to ongoing demand for smarter power tools with advanced IoT and AI capabilities that improve productivity and reduce costs for trades businesses.
• Increased preference for lithium-ion batteries: The preference for lithium-ion batteries is having a notable impact on the New Zealand power tool market. Lithium-ion batteries have seen substantial adoption in consumer electronics over the past decade due to their higher energy density and lighter weight compared to traditional chemistries like nickel-cadmium or lead-acid. These advantages are also driving demand from professional tradespeople and DIY/homeowners for power tools with lithium-ion batteries. According to data from NZ Steel Federation, the sale of corded angle grinders fell by over 20% from 2020-2022, while cordless angle grinder sales grew by a matching rate during this period.

Figure 1. New Zealand Power Tool Market Share (%), by Country, 2024