The global power tools market size is expected to reach USD 38.78 Billion in 2028 and register a revenue CAGR of 4.2% over the forecast period, according to the latest report by Reports and Data. Increasing demand for power tools in the construction industry and rising usage of cordless power tools are some key factors expected to drive market revenue growth over the forecast period. In addition, expansion of construction industry in developing countries is expected to contribute to revenue growth of the market in the near future.
Hammer drills, impacting wrenches, sawing blades, nailers, and staplers are some types of cordless power tools. Increasing need for more adaptable, flexible, and compact tools is expected to drive demand for cordless tools. Traditional Nickel-cadmium (Ni-Cd) and Nickel-metal Hydride (Ni-MH) battery packs are being replaced in power tools by lithium-ion batteries. Emergence of high-density battery packs in cordless power tools, owing to advacements in battery technology provides more operational time after every recharge. Hence, these are becoming more popular worldwide.
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Lithium-ion batteries are preferable for power tools as these offer a higher energy density and longer working time. As these batteries are compact and light, these do not even self-discharge. As a result, lithium-ion batteries have become the most popular cordless power tool batteries. Similarly, as demand for cordless tools is growing, tool manufacturers are focusing on developing innovative cordless power tools and launching new products in the market. However, concerns regarding power tool safety, regulation compliances, and high cost of power tool maintenance are expected to restrain market growth to a certain extent over the forecast period.
Some companies in the market include: Techtronic Industries Company Limited, Robert Bosch GmbH, Stanley Black Decker, Inc., Makita Corporation, Atlas Copco, Apex Tool Group, Hitachi Koki Co., Ltd., Snap-on Incorporated, Ingersoll-Rand PLC, and Emerson Electric Co.
Key Objectives of the Report:
- To provide detailed analysis of the market along with forecast estimation of various segments and sub-segments in the global Power Tools market.
- To offer insights into key market drivers and restraints and key factors such as micro- macro-economic factors, regulatory framework, supply chain analysis, and price analysis that impact market growth
- To provide historical and forecast revenue of the key segments and sub-segments along with analysis of key regions in the market
- To analyze recent mergers and acquisitions, collaborations, partnerships, product developments, and RD activities in the global Power Tools market
- To offer strategic and extensive analysis of the key players in the market along with their company profiles, financial standing, global market position, and product portfolio
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For the purpose of this report, Reports and Data has segmented the global power tools market on the basis of type, operation mode, application, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Demolition Tools
- Rotary Hammers
- Hammer Drills
- Demolition Hammers
- Drilling Fastening Tools
- Impact Drivers
- Drills
- Impact Wrenches
- Screwdrivers Nutrunners
- Sawing Cutting Tools
- Reciprocating Saws
- Jigsaws
- Circular Saws
- Sheers Nibblers
- Band Saws
- Routing Tools
- Routers
- Joiners
- Planers
- Material Removal Tools
- Grinders
- Die Straight Grinder
- Angle Grinders
- Sanders
- Buffers
- Polishers
- Others
Operation Mode Outlook (Revenue, USD Billion; 2018-2028)
- Pneumatic
- Electric
- Cordless
- Corded
- Hydraulic
- Power-actuated
Application Outlook (Revenue, USD Billion; 2018-2028)
- Residential
- Industrial
- Automotive
- Construction
- Energy
- Aerospace
- Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
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