Cordless Power Tool Market Research Report 2025-2030

THE GLOBAL CORDLESS POWER TOOLS MARKET SIZE IS EXPECTED TO REACH USD 37.20 BILLION BY 2030 FROM USD 25.00 BILLION IN 2024, GROWING AT A CAGR OF 6.85% DURING THE FORECAST PERIOD.

Cordless Power Tool Market Report

Cordless Power Tools Size & Share By Tool Type, Drilling & Fastening, Sawing & Cutting, Demolition, Material Removal, Routing, Category, Motor Type, Battery, End-users, Industrial, Distribution Channel, and Geography.

403 pages

5 region

25 countries

47 company

13 segments

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Cordless Power Tool Market Research Report 2025-2030

THE GLOBAL CORDLESS POWER TOOLS MARKET SIZE IS EXPECTED TO REACH USD 37.20 BILLION BY 2030 FROM USD 25.00 BILLION IN 2024, GROWING AT A CAGR OF 6.85% DURING THE FORECAST PERIOD.

The Global Cordless Power Tools Market Size, Share, & Trends Analysis Report By

  1. Tool Type: Drilling & Fastening, Sawing & Cutting, Demolition, Material Removal, Routing, and Other Tools
  2. Drilling & Fastening: Drills, Impact Wrenches, Impact Drivers, and Screwdrivers & Nut Runners
  3. Sawing & Cutting: Circular Saws, Reciprocating Saws, Band Saw, Jigsaws, and Shears & Nibblers
  4. Demolition: Hammer Drills, Rotary Hammers, and Demolition Hammers
  5. Material Removal: Grinders and Sanders
  6. Other Tools: Layout & Laser Tools, Dust Extractors, and Heat Guns & Glue Guns
  7. Category: Mass and Premium
  8. Motor Type: Brushed Motors and Brushless Motors
  9. Battery: 12V, 18V, 20V, 40V, and 40V & Above
  10. End-users: Industrial, Commercial, and Residential
  11. Industrial: Construction, Automotive, Electronics, Aerospace, Energy, Shipbuilding, and Other Industries
  12. Distribution Channel: Offline and Online
  13. Geography: North America, Europe, APAC, Latin America, and Middle East & Africa

Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2025–2030.

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CORDLESS POWER TOOLS MARKET REPORT SCOPE

REPORT ATTRIBUTEDETAILS
MARKET SIZE – REVENUE (2030)USD 37.20 Billion
MARKET SIZE – REVENUE (2024)USD 25.00 Billion
CAGR – REVENUE (2024-2030)6.85%
MARKET SIZE – VOLUME (2030)325.05 Million Units
HISTORIC YEAR2021-2023
BASE YEAR2024
FORECAST YEAR2025-2030
SEGMENTS BYTool Type, Drilling & Fastening, Sawing & Cutting, Demolition, Material Removal, Routing, Other Tools, Category, Motor Type, Battery, End-users, Industrial, Distribution Channel, and Geographical Analysis, and Geography
GEOGRAPHIC ANALYSIS North America, Europe, APAC, Latin America, and Middle East & Africa
LARGEST REGION – REVENUE (2024)North America
KEY PLAYERSStanley Black & Decker, Robert Bosch, Techtronic Industries, Makita, and Hilti
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CORDLESS POWER TOOLS MARKET SIZE

The global cordless power tools market size by revenue was valued at USD 25.00 billion in 2024 and is expected to reach USD 37.20 billion by 2030, growing at a CAGR of 6.85% during the forecast period. The market is witnessing significant growth and transformation because of advanced technology and the increasing demand for sustainable tools across end-users. Moreover, the development of the construction industry across countries like China, India, Indonesia, and Malaysia is driving the demand for the cordless power tools market. In 2024, the construction industrial end-user type segment across the APAC region is expected to grow at a CAGR of 9.51% during the forecast period.

The global cordless power tools market by volume is expected to reach 325.05 million units by 2030. Major global players are entering the untapped markets in APAC and MEA for a diverse customer base. For instance, in 2023 Milwaukee's new Heavy Duty Center, located at Ho Chi Minh City, has undertaken investment and upgrades to provide customers and partners with an exceptional experience of innovative cordless technology which further accelerates the market growth. Moreover, with the rising adoption of battery-powered tools, several market players are significantly transforming their product offerings by investment in R&D. For instance, in 2024, Hilti launched its new cordless tools on its 22V Nuron battery platform. The SC 6WP-22 Plunge saw is designed for cutting in wood, fiberboard, drywall, and solid surfaces, including straight and bevel cuts and intricate cut-outs.

Several manufacturers aim to make power tools safer, more comfortable, and easier to handle, with ergonomic features such as anti-vibration technology, accessible controls, comfort grips, and improved compactness and lightness. For instance, in 2025 Bosch introduced PROFACTOR 18V SDS-max Demolition Hammer (GSH18V-5L) with anti-vibration systems and its compact design allows for use in downward, horizontal, and horizontal over-shoulder applications for greater versatility.

Cordless Power Tool Market Research Report 2025-2030

ADVANCEMENTS IN THE CORDLESS POWER TOOLS MARKET

Advanced cordless power tools come with smart features such as integrated Bluetooth connectivity and smartphone connection applications for tracking tools and equipment. For instance, Bosch 12V Plane Laser allows for set-up of the laser from across the room and power-saving mode activation with the Bosch Leveling Remote App.

Comfort is one of the major considerations in designing modern cordless power tools. Companies in the cordless power tools market are also focusing on developing comfortable grips and handles, designed to accommodate a variety of hand sizes. For instance, the DeWalt DCF680N2 8V Gyroscopic Cordless Screwdriver comes with an Ergonomic grip with rubber over-molding for a secure, slip-resistant hold.

IMPACT OF U.S. & CHINA TRADE WAR

The ongoing geopolitical tensions between the U.S. and China are a trade war that is likely to disrupt the global cordless power tools market. Tariffs, export controls, and restricted access to raw materials are likely to raise production costs and cause delays, which lead to higher prices and limited availability in global markets. Thus, the market conditions reflect growing concerns about competitive pressures for raw materials, specifically from Chinese companies developing more cost-effective solutions.

CORDLESS POWER TOOLS MARKET TRENDS & ENABLERS

Industry 4.0 technologies allow manufacturers to offer mass customization of cordless power tools. In 2023, Bosch Power Tools expanded its Connectivity Module ecosystem, which integrates IoT-enabled cordless tools with smart manufacturing systems. Additionally, in 2025 DeWalt and Bosch among others are anticipated to rely on technologies like IoT-enabled production lines, and AI-driven demand forecasting to offer mass customization of cordless power tools. Hence, such factors are likely to support the cordless power tools market demand.

Vendors progressively adopt sustainable methods to meet evolving consumer expectations by focusing on using recycled and sustainable materials in the production of cordless power tools. For instance, in 2023, to focus on sustainability, Makita launched a Green Initiative program featuring power tool housing that utilizes up to 30% recycled plastic sourced from post-consumer electronic waste. Additionally, Stanley Black & Decker is also prioritizing recycled and upcycled materials and is committed to making at least 50% of its stainless steel products from recycled materials by 2025.

The development of lithium-ion batteries has further accelerated the cordless power tools market demand. In 2023, EVE Energy and the Malaysian Investment Development Authority (MIDA) announced about new manufacturing site in Kedah, Malaysia, which is dedicated to producing cylindrical lithium-ion batteries to support the manufacturing of power tools throughout Southeast Asia. Moreover, in 2024 Stanley improved its battery technology by introducing a 20V lithium-ion V20 battery pack, which is compatible with all the power tools and outdoor products in its V20 range. 

INDUSTRY RESTRAINTS

The disruption in the supply chain has led to increased costs for raw materials, logistics, and transportation, which have raised operational costs and are often passed on to end consumers which leading to higher cordless power tools prices. Moreover, the availability of labor at an affordable cost in developing economies is a major factor in the underdispersion of DIY activities. As outsourcing is done at a cheaper rate, people in households are not interested in small repair and maintenance work, which eventually leads to a lower preference for residential cordless power tools.

SEGMENTATION INSIGHTS

INSIGHTS BY TOOL TYPE

In 2024, the drilling & fastening segment held the largest market share of 26.56% by value in the global cordless power tools market. The tools include drills and wrenchers used to create holes, in various materials such as wood, metal, plastic, and masonry and fastening tools used to tighten or loosen screws, bolts, and other fasteners. This segment is further classified into sub-categories such as drills, impact wrenches, impact drivers, screwdrivers, and nut runners. Drills are the fastest-growing sector and are expected to grow at a CAGR of 9.30% in terms of revenue during the forecast period.

The sawing and cutting segments are the second largest market and are mainly used for wooden and metal works that need precision cutting. The segment is expected to generate USD 8.03 billion by 2030. Furthermore, in the demolition segment, the rotary hammer sub-segment is the fastest-growing sector and is expected to grow at a CAGR of 7.01% during the forecast period.

The material removal segment is further classified into grinders and sanders, and it is expected to grow at a CAGR of over 7.00% in terms of revenue during the forecast period. Furthermore, in 2024, North America dominated the routing tools market, accounting for over 29.00% of market share, and Europe was the second-largest market, growing at a CAGR of 3.49% in terms of unit shipments during the forecast period. Also, the other cordless power tools segment consists of layout tools, laser tools, dust extractors, and glue and heat guns, where the layout & laser tools market is the major revenue contributor to the segment, accounting for a revenue share of 44.54% in 2024 because of its various industrial applications.

INSIGHTS BY CATEGORY

In 2024, the mass segment is expected to witness an incremental growth of USD 7.55 billion during the forecast period. The broad use of residential equipment drives the demand for mass cordless power tools as they are cheaper than premium equipment. Furthermore, the premium segment holds a relatively lower cordless power tools market share. However, it is expected to grow at the highest CAGR of 7.35% in terms of revenue during the forecast period.

INSIGHTS BY MOTOR TYPE

The growth of brushed motors in cordless power tools is because they are cost-effective and require a single speed level. However, the brushless motors segment is expected to grow at a high CAGR of 8.95% during the forecast period. Brushless DC motors have higher operational life and easier maintenance than brushed DC motors while featuring noiseless operations.

INSIGHTS BY BATTERY

In 2024, the 12V cordless power tools segment accounted for the largest share by revenue in the global cordless power tools market and is expected to grow at a CAGR of 5.20% during the forecast period. Additionally, the 18V segment offers a balance between performance and size, making them the most versatile option. Furthermore, the 40V and 40V & above segment represents a new performance tier designed for high-demand applications such as outdoor power equipment, heavy cutting, and prolonged use. The segments cater to industrial users who require maximum torque and durability for tasks like concrete drilling, demolition, or heavy metal cutting.

INSIGHTS BY END-USERS

In 2024 the industrial end-user segment of major contributors, such as the automotive and construction industries, generated the maximum revenue of over USD 18.00 billion in the cordless power tools market. The industrial segment is further classified into automotive, aerospace, electronics, energy, construction, shipbuilding, and other industries. The construction sector is estimated to be the highest revenue generator because of the rise in construction and renovation activities.

The commercial end-user segment was the second-largest revenue contributor after the industrial segment. In 2024, North America was the largest revenue generator in the segment, which was valued at USD 1.31 billion, followed by Europe at USD 1.26 billion. Furthermore, the residential end-user segment is expected to grow at a CAGR of 7.55% to generate 32.78 million units in 2030, where the major revenue can be significant from areas in North America, Europe, and APAC.

INSIGHTS BY DISTRIBUTION CHANNEL

The offline sales channel is traditionally the backbone of the market and has a crucial role in the global distribution landscape of the cordless power tools market. The segment is expected to add revenue of around USD 6.33 billion by the end of 2030. Furthermore, the online segment includes third-party e-retailers, the brand’s website, and others. The rising preference for e-commerce of the online sales channel is gaining momentum and growing at a CAGR of over 8.00% in terms of revenue during the forecast period.

CORDLESS POWER TOOLS MARKET’S GEOGRAPHICAL ANALYSIS

In 2024, the North American region dominated the global cordless power tools market. The U.S. cordless power tools market dominates North America and accounts for a significant share of over 77.00% in terms of revenue during 2024. The presence of major multinational brands and their extensive distribution networks has created a strong market for innovative cordless power tool products. Furthermore, the European cordless power tools market is growing at a rate of around 7.00% in terms of revenue during the forecast period owing to the presence large number of high-net-worth individuals and the growing automotive industry. Germany, the U.K., and France are the major contributors to the European market.

In 2024 the APAC region is projected to be the fastest-growing market in the cordless power tools market, and the major contribution is China with a market share of over 35.00%, and the Indian market is expected to grow at a high CAGR of around 10.00% because of the increasing development of end-user industries.

Latin America accounted for a share of around 9% by unit shipments in 2024 in the global cordless power tools market and is expected to experience lucrative growth during the forecast period. Brazil and Mexico lead the regional market with substantial investments in construction; the automotive and professional services industry is further accelerating the market growth. Furthermore, the Middle East & Africa have emerging opportunities in the cordless power tools market because of rapid urbanization, sustainability awareness, and increasing disposable income.

VENDOR LANDSCAPE

The global cordless power tools market is fragmented and characterized by numerous manufacturers that hold modest market share. Key players in the global cordless power tools market include Stanley Black & Decker, Bosch, Makita, and TTI among others has established dominance in the market by continuously innovating and expanding their product offerings. Also, major vendors are strategically implementing innovative technologies to maintain their market positions. For instance, in 2023, Bosch introduced its NanoBlade technology in three new hand-held equipment the EasySaw 12 cordless multi-saw, the EasySaw 50, and the MaxSaw 50 models for the DIY segment.

The leaders in the cordless power tools market are making significant R&D investments to enhance the availability and differentiation of their products. For instance, Bosch actively invests in developing and expanding its cordless power tools including both DIY and professional lines. In 2024 the company has spent around USD 8.89 billion in R&D.

With rising concerns and awareness about sustainability across end-users several companies in the cordless power tools market are increasingly focusing on adopting sustainable practices for expanding their product range to strengthen their market positions. For instance, during 2023-2024 Bosch utilized and purchased around 56% of steel, 35% aluminum, and 5% plastic which were recycled as their raw materials. The company has also aimed to reduce CO2 emissions by 30% by 2030.

CORDLESS POWER TOOLS MARKET NEWS

  1. In 2025, Stanley Black & Decker aims to offer cordless power tools that align with the sustainability objectives of Saudi Vision 2030 and the UAE’s Green Economy initiatives by prioritizing energy efficiency and reducing emissions.
  2. In 2025, TTI is likely to continue its mission of cordless domination, bringing disruptive technology and innovative design to the market to cater to the growing trend of energy-efficient products and tools.
  3. In 2025, Makita launched new XGT 40vmax and LXT 18V tools for combo kits, cutting, fastening, sanding, cleaning, and measuring along with new accessories.
  4. In 2024, Snap-on introduced its 14.4 MicroLithium Cordless Nibbler Kit to easily cut through mild steel up to 16-gauge and most nonferrous materials such as aluminum, brass, laminates, fiberglass, and high-density fiberboard.
  5. In 2023, Bosch Power Tools introduced a rechargeable battery for professional power tools which supplies up to 70% longer runtime compared to its previous batteries.

SNAPSHOT

The global cordless power tools market size by revenue is expected to grow at a CAGR of approximately 6.85% from 2024 to 2030.

The following factors are likely to contribute to the growth of the global cordless power tools market during the forecast period:

  1. Advances in Lithium-ion Batteries
  2. Rise in Residential Improvement & DIY Projects
  3. Increase in Initiatives in Manufacturer-led Program
  4. Growing Infrastructure Development Projects

Base Year: 2024

Forecast Year: 2025-2030

The report considers the present scenario of the global cordless power tools market and its market dynamics for 2025−2030. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the industry.

Key Company Profiles

  1. Stanley Black & Decker
  2. Business Overview
  3. Product Offerings
  4. Key Developments
  5. Key Strategies
  6. Key Strengths
  7. Key Opportunities
  8. Robert Bosch
  9. Techtronic Industries
  10. Makita
  11. Hilti

Other Prominent Company Profiles

  1. CHERVON
  2. Business Overview
  3. Product Offerings
  4. FEIN
  5. Festool
  6. CS Unitec
  7. STIHL
  8. Matco Tools
  9. Milwaukee
  10. Hitachi
  11. Ryobi
  12. Snap-on
  13. Metabo
  14. Apex Tool Group
  15. Kyocera
  16. INTERSKOL
  17. Panasonic
  18. Uryu Seisaku
  19. Atlas Copco
  20. Ingersoll Rand
  21. Emerson
  22. Positec Group
  23. Skil
  24. CRAFTSMAN
  25. Kobalt
  26. Dremel
  27. Proxxon
  28. Parkside
  29. Chicago Pneumatic
  30. Worx
  31. Cornwell Quality Tools
  32. SENCO
  33. AMICO
  34. Dynabrade
  35. Husqvarna Group
  36. AEG POWERTOOLS
  37. Wagner
  38. Super Steel
  39. Master Appliance Corp
  40. Dongcheng Tools
  41. Seekone
  42. Genesis
  43. FERM
  44. Einhell

Segmentation by Tool Type

  1. Drilling & Fastening
  2. Sawing & Cutting
  3. Demolition
  4. Material Removal
  5. Routing
  6. Other Tools

Segmentation by Drilling & Fastening

  1. Drills
  2. Impact Wrenches
  3. Impact Drivers
  4. Screwdrivers & Nut Runners

Segmentation by Sawing & Cutting

  1. Circular Saws
  2. Reciprocating Saws
  3. Band Saw
  4. Jigsaws
  5. Shears & Nibblers

Segmentation by Demolition

  1. Hammer Drills
  2. Rotary Hammers
  3. Demolition Hammers

Segmentation by Material Removal

  1. Grinders
  2. Sanders

Segmentation by Other Tools

  1. Layout & Laser Tools
  2. Dust Extractors
  3. Heat Guns & Glue Guns

Segmentation by Category

  1. Mass
  2. Premium

Segmentation by Motor Type

  1. Brushed Motors
  2. Brushless Motors

Segmentation by Battery

  1. 12V
  2. 18V
  3. 20V
  4. 40V
  5. 40V & Above

Segmentation by End-users

  1. Industrial
  2. Commercial
  3. Residential

Segmentation by Industrial

  1. Construction
  2. Automotive
  3. Electronics
  4. Aerospace
  5. Energy
  6. Shipbuilding
  7. Other Industries

Segmentation by Distribution Channel

  1. Offline
  2. Online

Segmentation by Geography

  1. North America
  2. US
  3. Canada
  4. Europe
  5. UK
  6. Germany
  7. France
  8. Russia
  9. Italy
  10. Spain
  11. Sweden
  12. Netherlands
  13. Belgium
  14. APAC
  15. China
  16. Japan
  17. India
  18. South Korea
  19. Australia
  20. Indonesia
  21. Latin America
  22. Brazil
  23. Mexico
  24. Argentina
  25. Chile
  26. Middle East & Africa
  27. Saudi Arabia
  28. South Africa
  29. UAE
  30. Turkey

CORDLESS POWER TOOLS MARKET FAQs

What is the growth rate of the global cordless power tools market?

The global cordless power tools market by revenue is expected to grow at a CAGR of 6.85% from 2024 to 2030.

How big is the global cordless power tools market?

The global cordless power tools market size was valued at USD 25.00 billion in 2024 and is expected to reach USD 37.20 billion by 2030.

What are the significant trends in the cordless power tools market?

The growing prominence of Asian manufacturing, Industry 4.0 & smart precision manufacturing, increased emphasis on safety & compliance, and shift towards sustainability are significant trends in the cordless power tools market.

Which region dominates the global cordless power tools market share?

North America held the largest global cordless power tools market share by revenue, accounting for a global share of over 30% in 2024.

Who are the key players in the global cordless power tools market?

Stanley Black & Decker, Robert Bosch, Techtronic Industries, Makita, and Hilti are the key players in the global cordless power tools market.

For more details, please reach us at [email protected]

  1. Chapter 1- Scope & Coverage
  2. Market Definition
  3. Inclusion
  4. Exclusions
  5. Market Estimation Caveats
  6. Market Derivation
  7. Market Segmentation by Tool Type
  8. Market Segmentation by Category
  9. Market Segmentation by Motor Type
  10. Market Segmentation by Battery
  11. Market Segmentation by End-users
  12. Market Segmentation by Distribution Channel
  13. Chapter 2- Premium Insights
  14. Chapter 3- Market Dynamics
  15. Introduction
  16. Overview
  17. Recent Developments
  18. Emerging Preference Towards Cordless Power Tools
  19. Consistent Advancements in Cordless Power Tools
  20. Power Tools Standards
  21. Corded vs Cordless Power Tools
  22. Value Chain Analysis
  23. Impact of The Ongoing Tariff War
  24. Market Opportunities & Trends
  25. Growing Prominence of Asian Manufacturers
  26. Industry 4.0 & Smart Precision Manufacturing
  27. Increased Emphasis on Safety & Compliance
  28. Shift Towards Sustainability
  29. Market Growth Enablers
  30. Advances in Lithium-ion Batteries
  31. Rise in Residential Improvement & DIY Projects
  32. Increase in Initiatives in Manufacturer-led Program
  33. Growing Infrastructure Development Projects
  34. Market Restraints
  35. Low Labor Cost & Supply Chain Disruptions
  36. Fluctuations in Raw Material Pricing
  37. High Competition & Price Sensitivity
  38. High Availability of Hand Equipment
  39. Market Landscape
  40. Five Forces Analysis
  41. Chapter 4- Market Segmentation
  42. Tool Type (Market Size & Forecast: 2021-2030)
  43. Drilling & Fastening
  44. Drills
  45. Impact Wrenches
  46. Impact Drivers
  47. Screwdrivers & Nut Runners
  48. Sawing & Cutting
  49. Circular Saws
  50. Reciprocating Saws
  51. Band Saw
  52. Jigsaws
  53. Shears & Nibblers
  54. Demolition
  55. Hammer Drills
  56. Rotary Hammers
  57. Demolition Hammers
  58. Material Removal
  59. Grinders
  60. Sanders
  61. Routing
  62. Other Tools
  63. Layout & Laser Tools
  64. Dust Extractors
  65. Heat Guns & Glue Guns
  66. Category (Market Size & Forecast: 2021-2030)
  67. Mass
  68. Premium
  69. Motor Type (Market Size & Forecast: 2021-2030)
  70. Brushed Motors
  71. Brushless Motors
  72. Battery (Market Size & Forecast: 2021-2030)
  73. 12V
  74. 18V
  75. 20V
  76. 40V
  77. 40V & Above
  78. End-users (Market Size & Forecast: 2021-2030)
  79. Industrial
  80. Construction
  81. Automotive
  82. Electronics
  83. Aerospace
  84. Energy
  85. Shipbuilding
  86. Other Industry
  87. Commercial
  88. Residential
  89. Chapter 5- Geography Segmentation
  90. Geography Segmentation (Market Size & Forecast: 2021-2030)
  91. Geographic Overview – Market Maturity Index
  92. North America
  93. US
  94. Canada
  95. Europe
  96. UK
  97. Germany
  98. France
  99. Russia
  100. Italy
  101. Spain
  102. Sweden
  103. Netherlands
  104. Belgium
  105. APAC
  106. China
  107. Japan
  108. India
  109. South Korea
  110. Australia
  111. Indonesia
  112. Latin America
  113. Brazil
  114. Mexico
  115. Argentina
  116. Chile
  117. Middle East & Africa
  118. Saudi Arabia
  119. South Africa
  120. UAE
  121. Turkey
  122. Chapter 6- Competitive Landscape
  123. Competitive Landscape
  124. Competition Overview
  125. Key Developments
  126. Key Company Profiles
  127. Other Prominent Company Profiles
  128. Report Summary
  129. Key Takeaways
  130. Strategic Recommendations

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Frequently Asked Questions

What is the growth rate of the global cordless power tools market?

The global cordless power tools market by revenue is expected to grow at a CAGR of 6.85% from 2024 to 2030.

How big is the global cordless power tools market?

The global cordless power tools market size was valued at USD 25.00 billion in 2024 and is expected to reach USD 37.20 billion by 2030.

What are the significant trends in the cordless power tools market?

The growing prominence of Asian manufacturing, Industry 4.0 & smart precision manufacturing, increased emphasis on safety & compliance, and shift towards sustainability are significant trends in the cordless power tools market.

Which region dominates the global cordless power tools market share?

North America held the largest global cordless power tools market share by revenue, accounting for a global share of over 30% in 2024.

Who are the key players in the global cordless power tools market?

Stanley Black & Decker, Robert Bosch, Techtronic Industries, Makita, and Hilti are the key players in the global cordless power tools market.