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Cordless Power Tools Market Size, Share & Growth Report 2031

Cordless Power Tools Market

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Segments - by Type (Demolition Tools, Routing Tools, Drilling & Fastening Tools, Sawing & Cutting Tools, and Material Removal Tools), Motor Type (Brushless Motors and Brushed Motors), Battery Voltage (12V, 18V, 20V, 40V, and 40V and above), End-user (Commercial, Industrial, and Residential), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Report Description

The global cordless power tools market size was USD 21,234 Mn in 2022 and is likely to reach USD 46,729.8 Mn by 2031, expanding at a CAGR of 9.3% during, 2023–2031. The growth of the market is attributed to the high demand for cordless power tools and growing requirement for fastening tools.

Cordless power tools are battery-powered devices that are used in industrial and residential applications. Cordless power tools need long-lasting batteries. These tools also need to be lightweight and tough. Cordless power tools are being developed with next-gen technology. These tools are deployed with either brushed or non-brushed motors. These tools are exceeding the normal hand-used tools, as they are more effective than the traditional tools.

The COVID-19 pandemic severely hampered the cordless power tools market. Lockdowns were imposed in several countries, which impacted different automotive firms and manufacturing hubs. Car manufacturing companies suffered, owing to the sudden lockdown imposed.

Cordless Power Tools Market Dynamics

Major Drivers

Advancements in Li-ion batteries are expected to drive the market. High demand for batteries with a long life and several developments made for battery backup capacity is boosting the market.

Existing Restraints

The high cost of raw materials used for power tools is impeding the market. The price of manufacturing raw materials used for making power tools including fasteners, plastic, and rubber has fluctuated over the past few years. Unstable prices of raw materials are expected to restrain the cordless power tools market.

Emerging Opportunities

Growing number of manufacturers is expected to create lucrative opportunities in the market. High demand for cordless power tools, required for installing different systems such as cutting, welding, and metalworking, is likely to create opportunities in the market.

Scope of Cordless Power Tools Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Cordless Power Tools Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Type (Demolition Tools, Routing Tools, Drilling & Fastening Tools, Sawing & Cutting Tools, and Material Removal Tools), Motor Type (Brushless Motors and Brushed Motors), Battery Voltage (12V, 18V, 20V, 40V, and 40V and above), End-user (Commercial, Industrial, and Residential)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
Key Players Covered in the Report	Robert Bosch GmbH; Atlas Copco AB; Stanley Black & Decker, Inc.; Hitachi, Ltd.; TTI, Inc.; Snap-on Incorporated.; Makita Corporation; and Apex Tool Group, LLC.

Cordless Power Tools Market Segment Insights

Based on type, the market is divided into demolition tools, routing tools, drilling & fastening tools, sawing & cutting tools, and material removal tools. The drilling & fastening tools segment is expected to expand at a significant growth rate during the projection period, as these tools are used in do-it-yourself (DIY) residential projects.

Sawing & cutting tools are mostly used in the cordless power market. These tools are used for accurately cutting wood and metals, to get the needed dimension and shape in various products.

On the basis of motor type, the global market is bifurcated into brushless motors and brushed motors. The brushed motors segment is projected to expand at a considerable CAGR during the forecast period. Brushed motors are less expensive and more stable than brushless motors. The manufacturing process of brushed motors is easy and definitive.

In terms of battery voltage, the cordless power tools market is segmented into 12V, 18V, 20V, 40V, and 40V and above. The 12V segment is expected to expand at a high CAGR during the forecast period due to the rising number of players developing and launching products in this category. Measuring instruments require 12V cells for adequate performance. 12V batteries feature three battery cells and they are less powerful than the 18V system.

Based on end-user, the cordless power tools market is classified as commercial, industrial, and residential. The industrial segment is expected to expand at a robust pace during the forecast period. This is the largest revenue-generating segment owing to the rise in renovating activities around the world. Hand tools & woodworking tools are broadly used in construction, electronics, aerospace, and in other sectors.

On the basis of region, the global cordless power tools market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period. The region has a burgeoning automotive sector, which is currently concentrating on manufacturing a large number of electric vehicles thus, driving the demand for eco-friendly tools in North America.

Segments

The cordless power tools market has been segmented on the basis of

Type

Demolition Tools
Routing Tools
Drilling & Fastening Tools
Sawing & Cutting Tools
Material Removal Tools

Motor Type

Brushless Motors
Brushed Motors

Battery Voltage

12V
18V
20V
40V
40V and above

Region

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Robert Bosch GmbH
Atlas Copco AB
Stanley Black & Decker, Inc.
Hitachi, Ltd.
TTI, Inc.
Snap-on Incorporated.
Makita Corporation
Apex Tool Group, LLC.

Competitive Landscape

Key competitors in the global cordless power tools market are Robert Bosch GmbH; Atlas Copco AB; Stanley Black & Decker, Inc.; Hitachi, Ltd.; TTI, Inc.; Snap-on Incorporated.; Makita Corporation; and Apex Tool Group, LLC. These companies are utilizing strategies such as acquisitions, partnerships, mergers, collaboration, product launches, and production expansion to boost their consumer base around the world. For instance,

In June 2019, Bosch Power Tools India launched consumer experience zones around partner outlets in India. The purpose of the program was to enable consumers get hands-on experience with cordless power tools.
In June 2019, Metabo HPT (former tool of Hitachi Power) introduced its 10-inch MultiVolt Table Saw model C3610DRJQ4. It is a huge working table saw the size of 35-inch of cutting capacity to the right and 22-inch to the left.

Cordless Power Tools Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cordless Power Tools Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Cordless Power Tools Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Cordless Power Tools Market - Supply Chain
  4.5. Global Cordless Power Tools Market Forecast
     4.5.1. Cordless Power Tools Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Cordless Power Tools Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Cordless Power Tools Market Absolute $ Opportunity
5. Global Cordless Power Tools Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Cordless Power Tools Market Size and Volume Forecast by Types
     5.3.1. Demolition Tools
     5.3.2. Routing Tools
     5.3.3. Drilling & Fastening Tools
     5.3.4. Sawing & Cutting Tools
     5.3.5. Material Removal Tools
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Cordless Power Tools Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Cordless Power Tools Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Cordless Power Tools Demand Share Forecast, 2019-2026
7. North America Cordless Power Tools Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Cordless Power Tools Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Cordless Power Tools Market Size and Volume Forecast by Types
     7.4.1. Demolition Tools
     7.4.2. Routing Tools
     7.4.3. Drilling & Fastening Tools
     7.4.4. Sawing & Cutting Tools
     7.4.5. Material Removal Tools
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Cordless Power Tools Demand Share Forecast, 2019-2026
8. Latin America Cordless Power Tools Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Cordless Power Tools Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Cordless Power Tools Market Size and Volume Forecast by Types
     8.4.1. Demolition Tools
     8.4.2. Routing Tools
     8.4.3. Drilling & Fastening Tools
     8.4.4. Sawing & Cutting Tools
     8.4.5. Material Removal Tools
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Cordless Power Tools Demand Share Forecast, 2019-2026
9. Europe Cordless Power Tools Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Cordless Power Tools Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Cordless Power Tools Market Size and Volume Forecast by Types
     9.4.1. Demolition Tools
     9.4.2. Routing Tools
     9.4.3. Drilling & Fastening Tools
     9.4.4. Sawing & Cutting Tools
     9.4.5. Material Removal Tools
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Cordless Power Tools Demand Share Forecast, 2019-2026
10. Asia Pacific Cordless Power Tools Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Cordless Power Tools Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Cordless Power Tools Market Size and Volume Forecast by Types
     10.4.1. Demolition Tools
     10.4.2. Routing Tools
     10.4.3. Drilling & Fastening Tools
     10.4.4. Sawing & Cutting Tools
     10.4.5. Material Removal Tools
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Cordless Power Tools Demand Share Forecast, 2019-2026
11. Middle East & Africa Cordless Power Tools Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Cordless Power Tools Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Cordless Power Tools Market Size and Volume Forecast by Types
     11.4.1. Demolition Tools
     11.4.2. Routing Tools
     11.4.3. Drilling & Fastening Tools
     11.4.4. Sawing & Cutting Tools
     11.4.5. Material Removal Tools
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Cordless Power Tools Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Cordless Power Tools Market: Market Share Analysis
  12.2. Cordless Power Tools Distributors and Customers
  12.3. Cordless Power Tools Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Robert Bosch GmbH
     12.4.2. Atlas Copco AB
     12.4.3. Stanley Black & Decker, Inc.
     12.4.4. Hitachi, Ltd.
     12.4.5. TTI, Inc.
     12.4.6. Snap-on Incorporated.
     12.4.7. Makita Corporation
     12.4.8. Apex Tool Group, LLC.

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