Global Cordless Power Tools Market, By Region (North America, Latin America, Asia-Pacific, Europe, Middle East & Africa) – Global Industry Overview, Trends, Outlook and Opportunity Analysis, 2018-2026
Cordless and battery-operated power tools for drilling, screwdriving, chiseling and sanding are referred to as cordless power tools or dough power tools. They are widely used in a variety of applications such as construction, production, assembly, packaging and maintenance operations. Power tools include portable drills, nail guns, saws, grinders, impact wrenches and other types of power tools. In recent years, cordless power tools have seen significant improvements in design and technology. Modern or next generation tools are extremely compact, sleek and designed to improve the mobility of the tool for any type of job.
Leading players operating in the global cordless power tools market are: Snap-on, Hitachi, Hilti, Husqvarna, Atlas Copco, Robert Bosch, Makita, Emerson Electric Co., Techtronic Industries, and Stanley Black & Decker, among others.
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Key Market Drivers:
Growth in the construction industry in emerging economies is expected to propel the growth of the cordless power tools market over the forecast period. For example, according to the India Brand Equity Foundation (IBEF), India, China and the United States are expected to account for more than 60% of global industry growth by 2025. While around 52% of all construction activity is already in emerging markets, which is expected to grow to 63% by 2025.
Additionally, high demand for cordless power tools in the automotive industry and rapid growth in the automotive industry is expected to increase the growth of the cordless power tools market. For example, according to IBEF, India’s automotive industry is expected to grow to US$251.4-282.8 billion (Rs 16.16-18.18 trillion) by 2026.
Geographically, the report examines the production, consumption, revenue, market share, growth rate and forecast for the following regions:
North America (US, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)
The COVID-19 outbreak (pandemic) has adversely affected the growth of industrial and/or professional applications. Moreover, the pandemic has severely affected the global economy and all industries across the world. Thus, a sharp decline has been observed in the adoption of cordless power tools by various industries, especially in 2020 due to supply chain disruptions. This in turn is expected to have a negative impact on the growth of the market.
Some of the important questions answered by this report include:
Who are the top five players in the cordless power tools market?
What will the cordless power tools market look like in the coming years?
Which products and applications will dominate the cordless power tools market?
What are the drivers and restraints of the Cordless Power Tools market?
Which regional market will represent the strongest growth?
What will be the CAGR and market size of the Cordless Power Tools market during the forecast period?
What is the current market size, what will it be in 2029, and what will the growth rate be?
The cordless power tools market is the growing adoption of cordless power tools and the growing demand for power fastening tools worldwide. For example, in February 2020, Bosch Power Tools India announced the launch of smart cordless measuring tools for professionals on the go, such as the GLM 150 C Professional cordless, the GLL 30 G Professional cordless and the GTC 400 C Professional wireless, to deliver a superior customer experience.
Among the regions, North America, Europe and Asia-Pacific are expected to witness robust growth in the cordless power tools market owing to the rising demand or adoption of cordless power tools, the increasing demand for fastening tools, the introduction of new products and the growth of automotive and construction industries in these regions. For example, in January 2022, VTOMAN announced the launch of its all-in-one cordless power tool kit. Each tool in the toolbox shares a common power supply, eliminating the need for a different power source for each power tool.
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