Report Description

Global cordless power tools market is expected to grow at a robust pace in the forecast period 2024-2028 owing to the industrial sector's growing demand for fastening tools and the emerging world's increasing building industry. In addition, technical advancements have led to the creation of countless tools and equipment. Battery-powered tools are increasingly replacing portable and wired electric alternatives because they improve worker productivity. The use of machinery that reduces the need for human labor is another major pressure on the construction sector, thus, the increase in infrastructure activity would benefit the market going forward. Additionally, the rising cost of human labor, an increase in home repair projects, and an increase in the number of DIYers are the reasons behind the growth of the global cordless power tools market.

Power tools that run on batteries include cordless saws, hammer drills, circular saws, impact wrenches, impact drivers, and other instruments. These tools work great for metalworking, welding, cutting, and other jobs. The shift to cordless power tools reveals a need for a more portable instrument that is easier to use.

Technology development has produced several tools and equipment that are utilized in a variety of industries. Due to the demand for efficiency, power tools are exceeding traditional hand tools in both the professional and residential markets. For instance, there is a lot of pressure on the construction industry to introduce cutting-edge products that minimize human labor. The market for power tools is benefiting from the boom in infrastructure and building, which will also drive future advancements.

Advances in Lithium-Ion Batteries

Lithium-Ion batteries are a common kind of battery for cordless power tools. Due to their size and lightweight, they can operate at maximum power for longer periods. Numerous improvements in batteries for greater backup capacity have been produced as a result of the growing demand for long-lasting battery life. As a result, Li-ion batteries now operate more efficiently and perform better. Improvements in energy density, charging speed, safety, and stability have also resulted from it. The preference for effective Li-ion batteries is growing for usage in electric vehicles (EVs) and e-communication devices, notwithstanding the 10% to 49% greater costs associated with replacing existing batteries with them. Nickel–Cadmium (NiCd) batteries are currently under stiff competition from cordless power tools powered by Li-ion batteries. Thus, it is expected to drive the growth of the global cordless power tools market.

Growth in Do It Yourself (DIY) Activities

Most adults are engaged in creative and purposeful leisure activities in several of the developed economies of the US and Europe. Based on their interests, some consumers also spend money on home maintenance and renovation projects. The idea is also gaining ground in other places with growing economies. Consumers in the home market frequently engage in cost-effective and skill-improving repair and improvement projects. Additionally, DIY projects are available at supermarkets and other specialty stores, such as Home Depot, which stimulates the market for DIY items and increases demand for cordless power tools.

Moreover, fixing cardboard, repairing auto lights, performing plumbing repairs, and patching a hole is among the most popular DIY projects done in homes. These tasks call for a kit that includes a cordless drill, screwdrivers, nut runners, and wrenches. The application of instruments, such as glue guns and heat guns is necessary for crafting projects including jewelry making, needle arts, sewing, cloth, and home décor. Drillers, impact wrenches, and saws may become more popular with most modest household tasks like woodworking and hardware work. Along with hand tools and ornamental tools, power tools are the most essential elements of DIY projects, which is why the majority of power tool providers could build and provide small, user-friendly battery-powered equipment. All of these factors encourage the use of cordless power tools, thus fueling the market's expansion globally.

Rising Use of Fastener

A fastener is a piece of hardware that is typically used to secure joints between two or more things. Industries like aerospace, building and construction, automotive, furniture, motors, and pumps are using fasteners more and more. Nails, screws, bolts, clamps, tapping screws, set screws, and studs are a few examples of common fasteners.

Power tools are highly preferred and frequently used as assembly tools. Thus, the market for cordless power tools is driven by the development of the use of fastening tools. For instance, the industrial, nuts and screws can be fastened using impact drivers and cordless drills. Similar to automatic screw drive systems, some offer various setups that let users act appropriately.

Increasing Application of Electric Fastening Tools

Wind turbine installation involves a significant amount of use of electric fastening tools. These fastening tools are employed in tower maintenance and inspection procedures. A compression factor is chosen to maintain accuracy, and connections are torqued in accordance. Electric fastening tools are anticipated to be the ideal power tools for this industry because installation requires precise force. Growing installation capacity is expected to result in lucrative prospects for businesses in the cordless power tool industry.

Easily Available Cheap Labor in Developing Economies to Hamper Growth

Cheap labor in the majority of developing economies, which are centered in APAC and Latin America, is one of the main issues impeding the expansion of cordless power tools. Low-wage manual labor is typically performed by unskilled people who use archaic instruments rather than modern ones. As these workers only utilize hammers and other basic tools, cordless power tools are not highly preferred or widely used in these nations. As a result, the majority of activities of US-based organizations have moved to China due to the availability of cheap labor. Vendors have extra difficulties since low-cost manual labor in nations like India, China, and Indonesia differs from how battery-operated power equipment operates.

Thus, the above factors are expected to hinder the growth of the global cordless power tools market in the coming years.


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Latest Developments

  • Black & Decker, an OcStanley brand with headquarters in Towson, Maryland, announced the retail debut of its brand-new Reviva line of cordless power tools in October 2022. Every tool in the Reviva range comes packaged in curbside recyclable materials and has a housing constructed of Tritan Renew, a 50% recycled material created through cooperation with Kingsport, Tennessee-based Eastman. The 12-volt Max Drill Driver, made with the recycled material equivalent to eight 16.9-fluid-ounce single-use plastic water bottles, the 12-volt Max Detail Sander, made with the recycled equivalent of eleven 16.9-fluid-ounce plastic bottles, the 12-volt Max Cordless Jigsaw, made with the equivalent of eighteen 16.9-fluid-ounce plastic bottles, and the 4-volt Max Screwdriver with recycled material integration are all part of the first phase of the Reviva tools rollout.
  • Bosch Power Tools introduced a line of lithium-ion battery-operated cordless power tools in 2019. One such product is a wireless screwdriver. According to Bosch, these electric tools will increase worker convenience 4X over conventional screwdrivers. The collection also comprises flexible drill drivers, high-power impact wrenches, strong hammer drills, high-speed impact drills, and cordless power drill drivers in addition to cordless screwdrivers.

Market Segmentation

The global cordless power tools market is segmented based on tool type, motor type, battery voltage, end user, and region. Based on tool type, the market is bifurcated into drilling and fastening tools, sawing and cutting tools, demolition tools, material removal tools, and routing tools. Based on motor type, the market is bifurcated into brushed motors and brushless motors. Based on battery voltage, the market is bifurcated into 12V, 18V, 20V, 40V, 40V, and above. Based on end user, the market is bifurcated into industrial, commercial, and residential. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, and the Middle East & Africa.

Market players

The main players in the global cordless power tools market are Stanley Black & Decker, Inc., Robert Bosch GmbH, Techtronic Industries Company Limited, Makita Corporation, Hilti Corporation, Atlas Copco AB, Apex Tool Group, LLC., Ingersoll Rand Inc., Snap-on Incorporated, and Koki Holdings Co., Ltd.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, growth factors, and trends

Segments Covered

Tool Type

Motor Type

Battery Voltage

End-User

Region  

Regional Scope

North America, Asia-Pacific, Europe, South America, Middle East & Africa

Country Scope

United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Italy, Spain, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE

Key Companies Profiled

Stanley Black & Decker, Inc., Robert Bosch GmbH, Techtronic Industries Company Limited, Makita Corporation, Hilti Corporation, Atlas Copco AB, Apex Tool Group, LLC., Ingersoll Rand Inc., Snap-on Incorporated, Koki Holdings Co., Ltd.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the global cordless power tools market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

  • Cordless Power Tools Market, By Tool Type:

o   Drilling and Fastening Tools

o   Sawing and Cutting Tools

o   Demolition Tools

o   Material Removal Tools

o   Routing Tools

  • Cordless Power Tools Market, By Motor Type:

o   Brushed Motors

o   Brushless Motors   

  • Cordless Power Tools Market, By Battery Voltage:

o   12V

o   18V

o   20V

o   40V

o   40V and above

  • Cordless Power Tools Market, By Motor Type:

o   Brushed Motors

o   Brushless Motors   

  • Cordless Power Tools Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§   India

§  Japan

§  South Korea

§  Australia

§  China

o   Europe

§  Germany

§  United Kingdom

§  France

§  Italy

§  Spain

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East

§  Saudi Arabia

§  South Africa

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global cordless power tools market.

Available Customizations:

With the given market data on the global cordless power tools market, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to ten).

The global cordless power tools market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1.        Markets Covered

1.2.2.        Years Considered for Study

1.2.3.        Key Market Segmentations

2.    Research Methodology

2.1. Baseline Methodology

2.2. Key Industry Partners

2.3. Major Association and Secondary Sources

2.4. Forecasting Methodology

2.5. Data Triangulation & Validation

2.6. Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customers

5.    Global Cordless Power Tools Market

5.1. Market Size & Forecast

5.1.1.        By Value

5.2. Market Share & Forecast

5.2.1.        By Tool Type (Drilling and Fastening Tools, Sawing and Cutting Tools, Demolition Tools, Material Removal Tools, and Routing Tools)

5.2.2.        By Motor Type (Brushed Motors, Brushless Motors)

5.2.3.        By Battery Voltage (12V, 18V, 20V, 40V, 40V and above)

5.2.4.        By End-User (Industrial, Commercial, and Residential)

5.2.5.        By Region

5.3. By Company (2022)

5.4. Market Map

6.    North America Cordless Power Tools Market Outlook

6.1. Market Size & Forecast

6.1.1.        By Value

6.2. Market Share & Forecast

6.2.1.        By Tool Type

6.2.2.        By Motor Type

6.2.3.        By Battery Voltage

6.2.4.        By End-User

6.2.5.        By Country

6.3. North America: Country Analysis

6.3.1.        United States Cordless Power Tools Market Outlook

6.3.1.1.           Market Size & Forecast

6.3.1.1.1.          By Value 

6.3.1.2.           Market Share & Forecast

6.3.1.2.1.          By Tool Type

6.3.1.2.2.          By Motor Type

6.3.1.2.3.          By Battery Voltage

6.3.1.2.4.          By End-User  

6.3.2.        Canada Cordless Power Tools Market Outlook

6.3.2.1.           Market Size & Forecast

6.3.2.1.1.          By Value 

6.3.2.2.           Market Share & Forecast

6.3.2.2.1.          By Tool Type

6.3.2.2.2.          By Motor Type

6.3.2.2.3.          By Battery Voltage

6.3.2.2.4.          By End-User 

6.3.3.        Mexico Cordless Power Tools Market Outlook

6.3.3.1.           Market Size & Forecast

6.3.3.1.1.          By Value 

6.3.3.2.           Market Share & Forecast

6.3.3.2.1.          By Tool Type

6.3.3.2.2.          By Motor Type

6.3.3.2.3.          By Battery Voltage

6.3.3.2.4.          By End-User 

7.    Asia-Pacific Cordless Power Tools Market Outlook

7.1. Market Size & Forecast

7.1.1.        By Value

7.2. Market Share & Forecast

7.2.1.        By Tool Type

7.2.2.        By Motor Type

7.2.3.        By Battery Voltage

7.2.4.        By End-User

7.2.5.        By Country

7.3. Asia-Pacific: Country Analysis

7.3.1.        China Cordless Power Tools Market Outlook

7.3.1.1.           Market Size & Forecast

7.3.1.1.1.          By Value 

7.3.1.2.           Market Share & Forecast

7.3.1.2.1.          By Tool Type

7.3.1.2.2.          By Motor Type

7.3.1.2.3.          By Battery Voltage

7.3.1.2.4.          By End-User 

7.3.2.        India Cordless Power Tools Market Outlook

7.3.2.1.           Market Size & Forecast

7.3.2.1.1.          By Value 

7.3.2.2.           Market Share & Forecast

7.3.2.2.1.          By Tool Type

7.3.2.2.2.          By Motor Type

7.3.2.2.3.          By Battery Voltage

7.3.2.2.4.          By End-User 

7.3.3.        Japan Cordless Power Tools Market Outlook

7.3.3.1.           Market Size & Forecast

7.3.3.1.1.          By Value 

7.3.3.2.           Market Share & Forecast

7.3.3.2.1.          By Tool Type  

7.3.3.2.2.          By Motor Type

7.3.3.2.3.          By Battery Voltage

7.3.3.2.4.          By End-User 

7.3.4.        South Korea Cordless Power Tools Market Outlook

7.3.4.1.           Market Size & Forecast

7.3.4.1.1.          By Value 

7.3.4.2.           Market Share & Forecast

7.3.4.2.1.          By Tool Type

7.3.4.2.2.          By Motor Type

7.3.4.2.3.          By Battery Voltage

7.3.4.2.4.          By End-User 

7.3.5.        Australia Cordless Power Tools Market Outlook

7.3.5.1.           Market Size & Forecast

7.3.5.1.1.          By Value 

7.3.5.2.           Market Share & Forecast

7.3.5.2.1.          By Tool Type

7.3.5.2.2.          By Motor Type

7.3.5.2.3.          By Battery Voltage

7.3.5.2.4.          By End-User 

8.    Europe Cordless Power Tools Market Outlook

8.1. Market Size & Forecast

8.1.1.        By Value

8.2. Market Share & Forecast

8.2.1.        By Tool Type  

8.2.2.        By Motor Type

8.2.3.        By Battery Voltage

8.2.4.        By End-User

8.2.5.        By Country

8.3. Europe: Country Analysis

8.3.1.        Germany Cordless Power Tools Market Outlook

8.3.1.1.           Market Size & Forecast

8.3.1.1.1.          By Value 

8.3.1.2.           Market Share & Forecast

8.3.1.2.1.          By Tool Type

8.3.1.2.2.          By Motor Type

8.3.1.2.3.          By Battery Voltage

8.3.1.2.4.          By End-User 

8.3.2.        United Kingdom Cordless Power Tools Market Outlook

8.3.2.1.           Market Size & Forecast

8.3.2.1.1.          By Value 

8.3.2.2.           Market Share & Forecast

8.3.2.2.1.          By Tool Type

8.3.2.2.2.          By Motor Type

8.3.2.2.3.          By Battery Voltage

8.3.2.2.4.          By End-User 

8.3.3.        France Cordless Power Tools Market Outlook

8.3.3.1.           Market Size & Forecast

8.3.3.1.1.          By Value 

8.3.3.2.           Market Share & Forecast

8.3.3.2.1.          By Tool Type

8.3.3.2.2.          By Motor Type

8.3.3.2.3.          By Battery Voltage

8.3.3.2.4.          By End-User 

8.3.4.        Spain Cordless Power Tools Market Outlook

8.3.4.1.           Market Size & Forecast

8.3.4.1.1.          By Value 

8.3.4.2.           Market Share & Forecast

8.3.4.2.1.          By Tool Type  

8.3.4.2.2.          By Motor Type

8.3.4.2.3.          By Battery Voltage

8.3.4.2.4.          By End-User 

8.3.5.        Italy Cordless Power Tools Market Outlook

8.3.5.1.           Market Size & Forecast

8.3.5.1.1.          By Value 

8.3.5.2.           Market Share & Forecast

8.3.5.2.1.          By Tool Type

8.3.5.2.2.          By Motor Type

8.3.5.2.3.          By Battery Voltage

8.3.5.2.4.          By End-User 

9.    South America Cordless Power Tools Market Outlook

9.1. Market Size & Forecast

9.1.1.        By Value

9.2. Market Share & Forecast

9.2.1.        By Tool Type  

9.2.2.        By Motor Type

9.2.3.        By Battery Voltage

9.2.4.        By End-User

9.2.5.        By Country

9.3. South America: Country Analysis

9.3.1.        Brazil Cordless Power Tools Market Outlook

9.3.1.1.           Market Size & Forecast

9.3.1.1.1.          By Value 

9.3.1.2.           Market Share & Forecast

9.3.1.2.1.          By Tool Type

9.3.1.2.2.          By Motor Type

9.3.1.2.3.          By Battery Voltage

9.3.1.2.4.          By End-User 

9.3.2.        Argentina Cordless Power Tools Market Outlook

9.3.2.1.           Market Size & Forecast

9.3.2.1.1.          By Value 

9.3.2.2.           Market Share & Forecast

9.3.2.2.1.          By Tool Type

9.3.2.2.2.          By Motor Type

9.3.2.2.3.          By Battery Voltage

9.3.2.2.4.          By End-User 

9.3.3.        Colombia Cordless Power Tools Market Outlook

9.3.3.1.           Market Size & Forecast

9.3.3.1.1.          By Value 

9.3.3.2.           Market Share & Forecast

9.3.3.2.1.          By Tool Type

9.3.3.2.2.          By Motor Type

9.3.3.2.3.          By Battery Voltage

9.3.3.2.4.          By End-User 

10. Middle East & Africa Cordless Power Tools Market Outlook

10.1.              Market Size & Forecast

10.1.1.       By Value

10.2.              Market Share & Forecast

10.2.1.       By Tool Type

10.2.2.       By Motor Type

10.2.3.       By Battery Voltage

10.2.4.       By End-User

1.1.1.          By Country

1.2. Middle East & Africa: Country Analysis

10.3.1.  Saudi Arabia Cordless Power Tools Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.              By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.              By Tool Type

10.3.1.2.2.              By Motor Type

10.3.1.2.3.              By Battery Voltage

10.3.1.2.4.             By End-User 

10.3.2.       South Africa Cordless Power Tools Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.              By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.              By Tool Type  

10.3.2.2.2.              By Motor Type

10.3.2.2.3.              By Battery Voltage

10.3.2.2.4.             By End-User 

10.3.3.       UAE Cordless Power Tools Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.              By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.              By Tool Type

10.3.3.2.2.              By Motor Type

10.3.3.2.3.              By Battery Voltage

10.3.3.2.4.             By End-User 

11. Market Dynamics

11.1.   Drivers

11.2.   Challenges

12. Market Trends & Developments

13. Company Profiles

13.1.   Stanley Black & Decker, Inc.

13.1.1.      Business Overview

13.1.2.      Key Revenue and Financials  

13.1.3.      Recent Developments

13.1.4.      Key Personnel

13.1.5.      Key Product/Services Offered

13.2.   Robert Bosch GmbH

13.2.1.      Business Overview

13.2.2.      Key Revenue and Financials  

13.2.3.      Recent Developments

13.2.4.      Key Personnel

13.2.5.      Key Product/Services Offered

13.3.   Techtronic Industries Company Limited

13.3.1.      Business Overview

13.3.2.      Key Revenue and Financials  

13.3.3.      Recent Developments

13.3.4.      Key Personnel

13.3.5.      Key Product/Services Offered

13.4.   Makita Corporation

13.4.1.      Business Overview

13.4.2.      Key Revenue and Financials  

13.4.3.      Recent Developments

13.4.4.      Key Personnel

13.4.5.      Key Product/Services Offered

13.5.   Hilti Corporation

13.5.1.      Business Overview

13.5.2.      Key Revenue and Financials  

13.5.3.      Recent Developments

13.5.4.      Key Personnel

13.5.5.      Key Product/Services Offered

13.6.   Atlas Copco AB

13.6.1.      Business Overview

13.6.2.      Key Revenue and Financials  

13.6.3.      Recent Developments

13.6.4.      Key Personnel

13.6.5.      Key Product/Services Offered

13.7.   Apex Tool Group, LLC.

13.7.1.      Business Overview

13.7.2.      Key Revenue and Financials  

13.7.3.      Recent Developments

13.7.4.      Key Personnel

13.7.5.      Key Product/Services Offered

13.8.   Ingersoll Rand Inc.

13.8.1.       Business Overview

13.8.2.      Key Revenue and Financials  

13.8.3.      Recent Developments

13.8.4.      Key Personnel

13.8.5.      Key Product/Services Offered

13.9.   Snap-on Incorporated

13.9.1.      Business Overview

13.9.2.      Key Revenue and Financials  

13.9.3.      Recent Developments

13.9.4.      Key Personnel

13.9.5.      Key Product/Services Offered

13.10. Koki Holdings Co., Ltd.

13.10.1.   Business Overview

13.10.2.   Key Revenue and Financials  

13.10.3.   Recent Developments

13.10.4.   Key Personnel

13.10.5.   Key Product/Services Offered

14. Strategic Recommendations

15. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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Battery-powered portable tools called cordless power tools are used for a variety of DIY projects around the home and in the workplace. Both brushed and brushless motors can be fitted to operate these small, wireless power tools.

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Low-cost labor in developing economies, fluctuations in raw material pricing, and high end user variability are the challenges in the global cordless power tools market.

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Major players in this market are Stanley Black & Decker, Inc., Robert Bosch GmbH, Techtronic Industries Company Limited, Makita Corporation, Hilti Corporation, Atlas Copco AB, Apex Tool Group, LLC., Ingersoll Rand Inc., Snap-on Incorporated, and Koki Holdings Co., Ltd.

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North America is expected to be the dominating region during the forecast period, owing to the presence of numerous significant industries, including the automotive, building, aerospace, electronics, and packaging sectors. With the growing demand for environmentally friendly products, the automotive industry in North America produces the greatest number of electric vehicles globally.

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Parvati Sharma

Account Manager BD
Press Release

Global Cordless Power Tools Market to Gain From Emerging DIY Trend

Aug, 2023

The global cordless power tools market is expected to derive growth from the rise in home improvement activities and do-it-yourself (DIY) culture over the forecast period.