financial and economic markets. A healthy demand for power tools was predicted to return to Asian markets, once the region fully recovers from the financial crisis that began in late 1997.
There are two distinct groups of buyers for power tools: professional users and do-it-yourselfers. Professional users include: construction workers, electricians, plumbers, repair and maintenance workers, auto mechanics, and manufacturing workers. Professional users were very conscious of quality and features; they trended to buy only those tools that were durable, functional, dependable, and capable of precision. They also tended to be very knowledgeable compared to do-it-yourselfers, many of whom were first time buyers and used power tools infrequently. Because the needs of professional users and do-it-yourself consumers tended to be sharply different, some manufacturers had a heavy duty professional line and a consumer/do-it-yourself line. Other manufacturers catered to just one of the two segments. Professional users tended to purchase their tools through jobbers, contractor supply firms, industrial supply houses, building supply centers, and some home improvement centers. Tools for the consumer segment were sold at home improvement centers, building materials centers, mass merchandisers, discount chains, and hardware stores.
Politically, safety regulations are an issue. These regulations differ from state to state and from one country to another. This situation has a direct affect on the cost of products. These regulations change also change over time.
Not a lot of technological changes have occurred since consumer and professional cordless tools technology was developed. Changes may happen in terms of the type of material or metal used in manufacturing in the near future. The trend in the industry is to develop and introduce products that are lightweight, compact, cordless, quiet, less prone to vibration, strong...