cordless power tools market research report

Cordless Power Tools Market - Global Outlook and Forecast 2020-2025

PUBLISHED DATE : Apr 2020 | Pages : 290

Up to $1000 off Untill Oct 2020

Cordless Power Tools market size to reach USD 22 billion by 2025, growing at a CAGR of 9% during the forecast period

Cordless Power Tools Market Size, Share, & Trends Analysis Report by Tool Types (Drilling & Fastening Tools (Drills, Impact Drivers, Impact Wrenches, Screwdrivers & Nut Runners), Demolition Tools, Demolition Hammers, Rotary Hammers, Hammer Drills, Sawing and Cutting Tools, Jigsaws, Reciprocating Saws, Circular Saws, Band Saws, (Shears and Nibblers, Material Removal Tools, Sanders, Grinders) (Routing Tools, Others (Layout Tools, Laser Tools, Dust Extractors, Heat and Glue Guns) End-users (Industrial (Automotive, Aerospace, Electronics, Energy, Construction, Shipbuilding, Others, Commercial, Residential), Geography (APAC, Europe, North America, Latin America, and the Middle East & Africa), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020-2025

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Most Exhaustive Report

290 Pages

98 Tables

110 Charts

3 Regions

18 Countries

27 Companies

5 Market Segment

Cordless Power Tools market Report Scope

Report Attribute Details
Market Size (Revenue) USD 22 BILLION (2025)
CAGR 9% (2020-2025)
Base Year 2019
Forecast Year 2020-2025
Market Segments Tool Types (Drilling & Fastening Tools (Drills, Impact Drivers, Impact Wrenches, Screwdrivers & Nut Runners), Demolition Tools, Demolition Hammers, Rotary Hammers, Hammer Drills, Sawing and Cutting Tools, Jigsaws, Reciprocating Saws, Circular Saws, Band Saws, (Shears and Nibblers, Material Removal Tools, Sanders, Grinders) (Routing tools, Others (Layout Tools, Laser Tools, Dust Extractors, Heat and Glue Guns) End-users (Industrial (Automotive, Aerospace, Electronics, Energy, Construction, Shipbuilding, Others, Commercial, Residential)
Geographic Analysis APAC, Europe, North America, Latin America, and Middle East & Africa
Countries Covered Germany, Italy, UK, France, Spain, US, Canada, China, Japan, India, South Korea, South Africa, UAE, Saudi Arabia, Turkey, Brazil, Mexico

INDUSTRY INSIGHTS

The cordless power tools market size to reach USD 22 billion by 2025, growing at a CAGR of 9% during the forecast period. The increasing industrialization across the globe and the growing application of cordless tools in household and commercial sectors are expected to drive the global cordless power tools market during the forecast period. Automobile, aerospace, construction, electronics, shipbuilding industries are the major application end-users of cordless equipment. With the marketing restriction for (NiCd) cells and the low penetration of Nickel-metal hydride battery (NiMH) cells, the growth in Li-ion battery technology is likely to increase the adoption of cordless power tools.

The growing popularity of “Do it Yourself” (DIY) projects, which involve amateurs and enthusiasts to modify, maintain, upgrade, and rebuild material possessions such as household appliances, is increasing the adoption of battery-powered tools. The use of this battery-powered equipment in the DIY process is highly popular in developed countries. However, the trend is rapidly growing in developing countries.

SNIPPETS

  • The drilling & fastening devices, demolition machines, and sawing & cutting segments are expected to witness an incremental growth of more than 55% in the North America cordless power tools market during the forecast period.
  • With the surge of Lithium ion battery technology, which is expected to grow at a CAGR of over 9% during 2019-2024, the North American power tool industry is expected to hog the limelight.
  • In Europe, construction, automotive industries, and electronics sectors are expected to account for approximately 70% of the market share, which is likely to boost the demand for battery-powered devices.
  • The drillers and the fastening segment is expected to reach over $5 billion by 2025.
  • The increased application of precision parts and the growing global consumer traffic are expected to drive the demand for wireless tools in the aerospace industry.

CORDLESS POWER TOOL MARKET SEGMENTATION

This research report includes a detailed segmentation by

  • Tool types
  • End-user
  • Geography

INSIGHTS BY END-USER

With the global electric vehicles market growing at 60% annually, the expansion and development of production facilities can result in the demand for cordless power tools, especially fastening, routing and material removal devices. This could be more prominent in China, Japan, the US, and Western European countries, where the production of EV is more likely to accelerate during the forecast period.

The growth in renovation, retrofit, and DIY activities is expected to drive the market in the residential and commercial segments. Dust removal equipment such as dust extractors are used in households without professionals, making them one of the largest contributors to the residential segment. Europe is expected to remain one of the significant revenue contributors to the residential segment during the forecast period. Similarly, the Asia Pacific region is projected to witness significant market growth during the forecast period.

INSIGHTS BY TOOL TYPES

The drilling and fastening segment is expected to reach over $1 billion by 2025. The rise in new aircraft building with precision parts will increase the demand for power tool accessories. The increase in oil and rig activities in North America will drive the demand, especially for demolition devices, fastening, and cutting devices, during the forecast period.

With more than 150 large shipyards, the European region stimulates the demand for demolition and fastening tools in the shipbuilding industry. The strong pipeline of projects in Chile is driving the machinery and equipment market. The investment in the oil and gas sector and the growth in public infrastructure are driving the economy of Colombia. Expansion activities are more likely to improve the scope for impact drivers, wrenches, rotary hammers, demolition hammers, layout tools, and circular saws.

INSIGHTS BY GEOGRAPHY

The presence of large-scale industries such as automobiles, construction, electronics, and aerospace is driving the market in North America. With the growth in green building regulations, the rise in manual labor expenditure, and an increase in immigration, the demand for cordless power tools is expected to witness a surge during the forecast period. Europe is home to world-class manufacturing facilities. The UK, Germany, Italy, Spain, and France are the major cordless power tools markets in the region.

APAC hosts several industries, including manufacturing, services, automobiles and electrical, hence the need for cordless power tools is high. While Japan and South Korea are major manufacturers and exporters of electrical appliances and automobiles, Singapore has excellent construction facilities. The growth in industrial production of automobiles, construction industry, household appliances is expected to boost the market demand in the Latin America region.

INSIGHTS BY VENDORS

The global cordless power tools market is characterized by low market concentration, with high competition among players. The present scenario is driving vendors to alter and refine their unique value proposition to achieve a strong market presence. Currently, the market is moderately fragmented and is dominated by vendors such as Stanley Black & Decker, Bosch, and TTI. All these major vendors have a global presence in three major geographical regions - North America, APAC, and Europe. Several vendors are providing products at low prices. This is likely to intensify the price war among vendors during the forecast period. The market confronts the threat of infiltration with low-quality products from Chinese vendors. Major vendors continually compete among themselves for the leading position in the market, with occasional spurts of competition coming from other local vendors. The market is characterized by the presence of diversified global and regional vendors.

The cordless power tools market research report includes in-depth coverage of the industry with revenues & forecasts for the following segments:

Segmentation by Tool Types

  • Drilling & Fastening
    • Drills
    • Impact Drivers
    • Impact Wrenches
    • Screwdrivers & Nut Runners
  • Demolition
    • Demolition Hammers
    • Rotary Hammers
    • Hammer Drills
  • Sawing and Cutting
    • Jigsaws
    • Reciprocating Saws
    • Circular Saws
    • Band Saws
    • Shears and Nibblers
  • Material Removal
    • Sanders
    • Grinders
  • Routing
  • Others
    • Layout
    • Laser
    • Dust Extractors
    • Heat and Glue Guns

By End-users 

  • Industrial
    • Automotive
    • Aerospace
    • Electronics
    • Energy
    • Construction
    • Shipbuilding
    • Others
  • Commercial
  • Residential

By Geography

  • Europe
    • Germany
    • Italy
    • UK
    • France
    • Spain
  • North America
    • US
    • Canada
  • APAC
    • China
    • Japan
    • India
    • South Korea
    • Australia
  • Middle East & Africa
    • South Africa
    • UAE
    • Saudi Arabia
    • Turkey
  • Latin America
    • Brazil
    • Mexico

Frequently Asked Questions

The increasing industrialization across the globe and the growing application of cordless tools in household and commercial sectors are expected to drive the global cordless power tools market growth during the forecast period.
Cordless Power Tools market size to reach USD 22 billion by 2025, growing at a CAGR of 9% during the forecast period
The following factors are likely to contribute to the growth of the cordless power tools market during the forecast period: Rise in Demand for Industrial Heat Guns, Increased Prominence of Asian Manufacturing, Growth in DIY Activities, Industry 4.0 and Smart Precision Manufacturing.
Stanley Black & Decker, Robert Bosch, Techtronic Industries Company (TTI), Makita, and Hilti are the leading vendors in the market.
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