Global Cordless Power Tools Market 2023

Description
The global cordless power tools market is expected to reach $29.8 billion by 2029, growing at a CAGR of 7.8% from $17.6 billion in 2022. These portable tools, powered by batteries, are used for commercial, residential, and DIY activities. They come in compact, wireless designs with brushed or brushless motors. Li-ion batteries drive demand, but high costs hinder market growth. Advancements in technology and rising labor costs contribute to the demand for efficient tools. Open industrial automation systems support cordless power tool growth. Asia-Pacific is becoming a manufacturing hub. Raw material price volatility and increasing operating expenses pose challenges.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global cordless power tools market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors' approaches.

Market Segmentation
The market is segmented based on various factors, including tool type, motor type, battery type, end-user, and geography.

Segmentation by Tool Type
Drilling and Fastening Tools - Drills, Impact Drivers, Impact Wrenches, Screwdrivers & Nut Runners
Sawing and Cutting Tools - Jigsaws, Reciprocating Saws, Circular Saws, Band Saws, Shears and Nibblers
Demolition Tools - Demolition Hammers, Rotary Hammers, Hammer drills
Material Removal Tools - Sanders, Grinders
Routing Tools
Other Tools - Dust Extractors, Heat and Glue Guns, Layout Tools, Laser Tools

Segmentation by Motor Type
Brushed Motors
Brushless Motors

Segmentation by Battery Type
12 V
18V
20V
40V
Above 40V

Segmentation by End User
Industrial
- Automotive
- Aerospace
- Electronics
- Energy
- Construction
- Shipbuilding
- Others
Commercial
Residential

Segmentation by Geography
North America - US, Canada
Europe - Germany, France, UK, Italy, Spain
APAC - China, Japan, India, South Korea, Australia
Latin America - Brazil, Mexico
Middle East & Africa - South Africa, Saudi Arabia, Turkey, UAE

In 2022, the drilling and fastening segment is expected to be the largest in the cordless power tools market. These tools, including drills, impact wrenches, and screwdrivers, are commonly used together in various industries. The application of drills depends on the nature of the work, while impact drills and wrenches differ in effectiveness and productivity.

The brushed motors market is expected to grow at a CAGR of 7.3% from 2023 to 2029. These motors have a simple design and lower manufacturing costs. They are considered cost-effective and reliable compared to brushless motors. However, brushless motors generally offer greater power output.

The 12 V battery segment is the largest in the global cordless power tools market. Robert Bosch is one of the players producing lithium-ion batteries, such as the BAT414, a compact and lightweight 12 V Max lithium-ion 2.0 Ah battery optimized for battery life, power, and runtime.

The industrial end-user segment dominates the market, with hand tools extensively used in automotive, aerospace, electronics, energy, construction, and shipbuilding industries. The construction sector generates the highest revenue, followed by the automotive industry for high-precision assembly.

North America, led by the United States, holds the top position in the market and is expected to grow at a CAGR of 7.4%. The region is home to major industries, including automotive, construction, aerospace, electronics, and packaging. The presence of a significant number of electric cars in the automotive sector reflects the demand for eco-friendly products.

Competitive Landscape
The global cordless power tools market is highly competitive, with a low level of market concentration. Vendors must refine their value propositions to establish a strong presence. The market is moderately fragmented, with dominant global and regional vendors. Regional vendors may face challenges as international players expand. Competition is based on durability, technology, services, price, and customization. The market has been analyzed for the forecast period from 2023 to 2029, segmented by tool type, motor type, Li-ion battery type, end-user, and geography. The report profiles key companies like Andreas Stihl AG & Co. KG, Apex Tool Group, LLC, Atlas Copco AB, CHERVON (China) Trading Co., Ltd., Dynabrade, Inc., Emerson Electric Co., Fairlink Limited, Ferm International B.V., Festool GmbH, Fortive Corporation, Hilti Corporation, Husqvarna AB, Ingersoll Rand Inc., Interskol ZAO, Koki Holdings Co., Ltd., Kyocera Corporation, Makita Corporation, Oregon Tool, Inc., Panasonic Holdings Corporation, Positec Tool Corporation, Robert Bosch GmbH, Snap-on Incorporated, Stanley Black & Decker, Inc., Techtronic Industries Company Limited, URYU Seisaku Ltd., among others. It provides a comprehensive view of the market dynamics for effective analysis.

Scope of the Report
To analyze and forecast the market size of the global cordless power tools market.
To classify and forecast the global cordless power tools market based on motor type, battery type, end user, region.
To identify drivers and challenges for the global cordless power tools market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global cordless power tools market.
To identify and analyze the profile of leading players operating in the global cordless power tools market.

Why Choose This Report
Gain a reliable outlook of the global cordless power tools market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
Print authentication provided for the single-user license.