Global Cordless Power Tools Market Is Expected To Grow At A CAGR Of Over 9% During The Forecast Period 2020–2025

The global cordless power tools market is expected to grow at a CAGR of over 9% during the period 2019–2025. The increasing industrialization across the globe and the growing application of cordless tools in household and commercial sectors are expected to drive the global cordless power tools market during the forecast period. Automobile, aerospace, construction, electronics, shipbuilding industries are the major application end-users of cordless equipment. With the development of new generation battery technology, vendors are trying to implement cordless batteries in heavy power tools. This is expected to lead to the further enhancement and product development in these instruments. With the marketing restriction for (NiCd) cells and the low penetration of Nickel-metal hydride battery (NiMH) cells, the growth in Li-ion battery technology is likely to increase the adoption of cordless power tools. 

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Key Vendors

• Stanley Black & Decker
• Robert Bosch
• Techtronic Industries Company (TTI)
• Makita
• Hilti

Insights by Vendors

The global cordless power tools market is characterized by low market concentration, with high competition among players. The present scenario is driving vendors to alter and refine their unique value proposition to achieve a strong market presence. Currently, the market is moderately fragmented and is dominated by vendors such as Stanley Black & Decker, Bosch, and TTI. All these major vendors have a global presence in three major geographical regions – North America, APAC, and Europe. Several vendors are providing products at low prices. This is likely to intensify the price war among vendors during the forecast period. The market confronts the threat of infiltration with low-quality products from Chinese vendors. Major vendors continually compete among themselves for the leading position in the market, with occasional spurts of competition coming from other local vendors. The market is characterized by the presence of diversified global and regional vendors.

Cordless Power Tools Market: Segmentation

This research report includes a detailed segmentation by tool types, end-user, and geography. With the global electric vehicles market growing at 60% annually, the expansion and development of production facilities can result in the demand for cordless power tools, especially fastening, routing and material removal devices. This could be more prominent in China, Japan, the US, and Western European countries, where the production of EV is more likely to accelerate during the forecast period. The increasing energy cost to power pneumatic power tools, coupled with the energy efficiency objectives set by the US Department of Energy, has enforced the tool industry to rely on battery-powered equipment. Advances in the European aerospace sector, which is one of the highly developed industries that manufacture high-class jets, helicopters, aero engines, civil aircraft, and unmanned aerial vehicles, is likely to influence the demand for cordless power tools. A similar growth trend can be seen in the consumer electronics industry, thereby driving the demand for fastening tools.

The drilling and fastening segment is expected to reach over $1 billion by 2025. The rise in new aircraft building with precision parts will increase the demand for power tools. The increase in oil and rig activities in North America will drive the demand, especially for demolition devices, cutting devices, and fastening tools during the forecast period. The rise in renovation activities that are expected to be carried out in residential homes is expected to lead the demand for demolition tools such as rotary hammers, hammer drills and material removal tools such as sanders and polishers. Similarly, the increasing cash flow to improve the communication sector is increasing the demand for drivers and drillers. With more than 150 large shipyards, the European region stimulates the demand for demolition and fastening tools in the shipbuilding industry. The strong pipeline of projects in Chile is driving the machinery and equipment market. The investment in the oil and gas sector and the growth in public infrastructure are driving the economy of Colombia. Expansion activities are more likely to improve the scope for impact drivers, wrenches, rotary hammers, demolition hammers, layout tools, and circular saws. Under the Budget 2020, Malaysia is likely to take the number of new infrastructure projects, including a new cable car system in the Penang Hill and housing for Felda settlers. These new projects will require an additional workforce laced with advanced Li-ion powered cordless tools, including drillers and drivers.

Table of Content

1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope Of The Study
4.4 Market Segments
4.4.1 Market Segmentation by Tool Type
4.4.2 Market Segmentation by End-User
4.4.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

The study considers the present scenario of the cordless power tools market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Request to Fill The Form To get Sample Copy of This Report:

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

Key Market Insights

The analysis of the cordless power tools market provides sizing and growth opportunities for the period 2019–2025.
• Offers sizing and growth prospects of the market for the forecast period 2020–2025.
• Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
• Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of segments and the regional outlook of the market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

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