The Cordless Power Tools Market Size was valued at USD 19.08 Bn in 2023 and is expected to reach USD 40.73 Bn by 2031 and grow at a CAGR of 9.94 % over the forecast period 2024-2031.
With solid government backing and rising pay levels, the development business in arising countries like India and China is anticipated to increment fundamentally, filling the extension of the Cordless Power Tools Market. The Global Cordless Power Tools Market report gives an all-encompassing assessment of the market. The report offers a far-reaching examination of key sections, patterns, drivers, limitations, cutthroat scene, and elements that are assuming a significant part on the lookout.
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Electric power tools come in corded and cordless forms, with various power limits. Electric power apparatuses were initially intended for little positions, however further developed instruments and batteries have upgraded the usefulness and entrance of use for enormous scope occupations. Penetrating, cutting, arranging, cutting (metal, delicate materials, wood, and others), crushing, compacting, pounding, and an assortment of different exercises are totally done utilizing electric power instruments. Those Power tools can be utilized without a power cord. They are not associated with any electrical framework to give mains power, permitting them to move around unreservedly when being used. Aside from that, lithium-particle batteries are utilized in cordless power instruments.
COMPARISON BETWEEN CORDLESS AND CORDED POWER TOOLS:
The first, and generally self-evident, advantage of corded power tool is that they have a persistent power supply. Past their having the option to run persistently, these power tools likewise will quite often wear more prominent force than their cordless partners.
The vital advantage to cordless power tools is their reach and versatility. Compatible batteries can be purchased, considering helpful exchanging between your devices with insignificant personal time. In the event that you don't approach a devoted power source on your place of work and don't have any desire to pull a generator around with you.
Indeed, even the best-corded power tools will experience the ill effects of a conspicuous disadvantage: limited development. even with backups, you are probably going to observe a long project requiring more power than your batteries can give. Another drawback is that cordless power tools are commonly a piece heavier and harder to use than corded power tools since your power source is in your grasp.
A few tools are normally predominant as either a corded or cordless choice. For instance, assuming you oftentimes require the utilization of a responding or round saw, a corded variant is ideal since it will give the maintainable, consistent presentation that is many times fundamental for a well put together through firm material. Then again, things like cordless bores and effect drivers are great for most developers since they are handheld gadgets that frequently should be hauled all-around your place of work.
To get the best value for your money, sort out what projects you will utilize your power tools for and track down the right corded or cordless tools for the gig. In the event that you are continually doing open-air yardwork, a bunch of cordless devices will probably serve you better over the long haul. And continuous innovations in cost-effective and energy-efficient batteries make cordless power tools superior over corded power tools.
MARKET DYNAMICS:
KEY DRIVERS:
The rise in use of power tools in automotive, construction and manufacturing sector has lead the market growth globally.
Cost effective and energy efficient battery power tools has led to rise in demand for power tools in do by yourself methods in household consumers.
RESTRAINTS:
The high charge of upkeep is restricting the advancement of the power tools market.
The expense of residency of force devices ascends because of upkeep and fix supplies. Along these lines, clients in arising nations are subject to rental power instruments, which is likewise down the advancement of the market during the figure time frame.
CHALLENGES:
Cordless Power tools security and administrative consistency are serious concerns for manufacturers.
Product quality & environmental sustainability is the concern form customer and retailers and as well as product recycling is the key problem.
OPPORTUNITY:
The increasing industrial production in automobiles, construction, household appliances, and other sectors, is expected to for cordless power tools in developing countries.
The future market is always dependent on new technologies and development and in these sectors, there is an opportunity for cost-effective and energy-efficient cordless power tool products.
IMPACT OF COVID-19:
Covid-19 pandemic has spread globally and upset numerous enterprises wherever the world. The elements whereupon numerous organizations used to run are set to very change. As the world perseveres to battle this crisis, various organizations persevere to encounter a relentless decay. Among these organizations, car fabricating makes a different difference. Covid has been expanding through the world, beginning from Asia-Pacific, then contacting to Europe, and presently speeding up in North America. Covid has impacted numerous mainlands; nonetheless, the European nations and India have encountered a serious expansion in identified cases. Globalization and interconnected economies of most countries would be impacted attributable to pandemics.
During the flare-up of COVID-19, construction, manufacturing, and the travel industry enterprises were significantly impacted. Development exercises were additionally halted or confined to an immense degree. Manufacturing and transportation exercises alongside the stock chains of industrial equipment were hampered on a worldwide level. This prompted a decrease in development exercises, which straightforwardly hampers the cordless power tools market.
MARKET ESTIMATION:
The global battery power tools market is fragmented into motor type, tool, and application, on the basis of motor type, the market is divided into the brushed motor and brushless motor. IN case of tool type, it is sectioned into drills, saws, lawnmowers, impact wrench, and others. The others fragment includes Material Removal Tools Sanders and Grinders. The applications included in the study are industrial and domestic and residential. In case of motor type, in 2023, the brushed section overwhelmed the worldwide battery power instruments market, as far as income and the brushless fragment is supposed to observe development at the most noteworthy CAGR during the estimated time frame. Based on tools, the drills section drove the market in 2023, By application, the industrial section drove the market in 2023.
By Motor Type
Brushed Motor
Brushless Motor
By Material Removal Tools
Sanders
Grinders
By Tools
Drills
Saws
Impact Wrench
Others
By End User
Industrial
Commercial
Residential
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REGIONAL ANALYSIS:
Asia-Pacific is probably going to be the quickest rising locale in the power devices market. Countries like China and India are seeing expanded interest for these kinds of devices. Corona virus pandemic constrained lockdown through Asia-Pacific locale. Impediments on transportation in locale has caused Interruption in inventory network. Asian countries under lockdown have experienced the astounding loss of industry and income inferable from the closure of a few assembling units. This has squashed the interest for power apparatuses in the year 2023.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
KEY PLAYERS:
The worldwide market is described by low market fixation, with high rivalry among players. As of now. These sellers have a worldwide presence in three significant areas - North America, APAC, and Europe. The current situation drives sellers to adjust and refine their novel incentives to accomplish major areas of strength for a presence. The opposition is supposed to escalate further with expanded item expansions, development in mechanical advancements, and an expansion in consolidation and securing exercises.
The major key players are Apex Tool Group, Atlas Copco AB, Hilti Corporation, Ingersoll-Rand PLC, Hitachi Ltd., Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black and Decker, Techtronic Industries, Koki, Holdings, Emerson, Panasonic, Fortie, CHEVRON, Positec. and Other Players
Apex Tool Group-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 19.08 Billion |
| Market Size by 2031 | US$ 40.73 Billion |
| CAGR | CAGR of 9.94% From 2024 to 2031 |
| Base Year | 2022 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Motor type (Brushed Motor and Brushless Motor) • By Material Removal Tools (Sanders and Grinders.) • By Tools (Drills, Saws, Lawn Mower, Impact Wrench, Others) • By End User (Industrial, Commercial., Residential) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Apex Tool Group, Atlas Copco AB, Hilti Corporation, Ingersoll-Rand PLC, Hitachi Ltd., Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black and Decker, Techtronic Industries, Koki, Holdings, Emerson, Panasonic, Fortie, CHEVRON, Positec. |
| Key Drivers | •The rise in use of power tools in automotive, construction and manufacturing sector has lead the market growth globally. |
| RESTRAINTS | •The high charge of upkeep is restricting the advancement of the power tools market. |
Ans: The Cordless Power Tool Market size was valued at USD 19.08 Bn in 2023.
Ans: - The Cordless Power Tool Market is to grow at a CAGR of 9.94% over the Forecast Period 2024-2031.
Ans: - The segments covered in the Cordless Power Tool Market report for study are on the basis of Motor Type, Material Removal Tools, Tools and End User.
Asia-Pacific is probably going to be the quickest rising locale in the power devices market.
Ans: - The major key players are Apex Tool Group, Atlas Copco AB, Hilti Corporation, Ingersoll-Rand PLC, Hitachi Ltd., Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black and Decker, Techtronic Industries, Koki, Holdings, Emerson, Panasonic, Fortie, CHEVRON, Positec.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Cordless Power Tool Market Segmentation, by Motor Type
8.1 Brushed Motor
8.2 Brushless Motor
9. Cordless Power Tool market, by Material Removal Tools
9.1 Sanders
9.2 Grinders.
10. Cordless Power Tool Market Segmentation, by Tools
10.1 Drills
10.2 Saws
10.3 Lawn Mower
10.4 Impact Wrench
10.5 Others
11. Cordless Power Tool Market Segmentation, by End-use
11.1 Industrial
11. Commercial
11.3 Residential
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Apex Tool Group
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Atlas Copco AB
13.3 Hilti Corporation
13.4 Ingersoll-Rand PLC
13.5 Hitachi Ltd.
13.6 Makita Corporation
13. 7 Robert Bosch GmbH
13.8 Snap-On Incorporated
13.9 Stanley
13.10 Black and Decker
13.11 Techtronic Industries
13.12 Koki Holdings
13.13 Emerson
13.14 Panasonic
13.15 Fortie
13.16 CHEVRON
13.17 Positec
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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