Power Tools Market

The Power Tools Market is predicted to rise to USD 40,400 million by 2027, witnessing 4.6% CAGR during 2020-2027

Introduction of the Global Power Tools Market Report

Power tools are the tools that are activated by using an additional source of power and mechanism. The most common types of power tools that are present in the market utilize electric motors. These tools are majorly used for construction and various DIY jobs, which includes assembling, production, maintenance, and packaging. The power tools are generally divided into two categories: stationary and portable. The stationary power tools are the large machines that are tightly fastened, which enables them to function properly. The portable power tools are the tools that can be carried easily owing to their lightweight.

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Increasing adoption of power tools across various end-use applications including repair, production, assembling, maintenance and repair jobs, owing to the portability, operability, and reduced labour need stands to be a major factor fueling the power tools market growth. In addition, the growing demand for battery-driven tools, expansion of construction industry, and the increasing technological innovations, which include the advent of smart technology and the transformation in battery technology, are other factors projected to expand the power tools market size.

In addition, the rising emphasis on developing energy efficient power tools by leading players such as Robert Bosch Tools Corporation and Atlas Copco AB, have augmented the Power Tools Market share. Increasing demand for power tools in production, assembling operations, repair and maintenance, owing to their remarkable benefits including reduced labor and time requirements and ease of portability is expected to augment the market growth. Growing adoption of power tools in the construction, automotive and household applications, because of the increased accuracy, efficiency, and safety of the workforce will strengthen the market share. However, the high maintenance cost and fluctuation in the prices of raw materials might impede the market growth over the upcoming years.

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Based on the tool type, the drilling & fastening tools segment is expected to grow at a higher CAGR during the forecast period owing to the increase in the adoption of electric drilling & fastening tools by DIY consumers and professionals. In addition, growing advancements in the drilling technologies is leading to improvement in the characteristics of the power tool such as enhanced durability and high resistance to shock and vibrations which is also a key factor that is propelling the growth of the market in this segment.

Based on the mode of operation, the electric segment is projected to increase at a higher CAGR over the forecast period due to the growth in the demand for electric power tools in the automotive industry owing to its ability to enhance operational efficiency as it saves effort and time needed to perform several operations. Moreover, the rising advancements in battery technology and increasing penetration of cordless tools across residential and industrial users are some other major factors that are fuelling the growth of the market in this segment.

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Based on the region, the Asia-Pacific region is expected to increase at a higher CAGR during the forecast period due to the rising adoption of power tools in this region as a result of rapid expansion in the industrial activities and growing development of infrastructure across several countries like China and India. In addition, rising inclination towards the DIY trend are some other factors fuelling the growth of the market in this region.

Various notable players operating in the market include Robert Bosch Tool Corporation, Stanley Black & Decker, Inc., Hilti Corporation, Makita Corporation, Apex Tool Group, LLC., Atlas Copco, Snap-on Incorporated., Ingersoll-Rand plc, Koki Holdings Co., Ltd., and Emerson Electric Co., among others. 

Key Developments: 

• • In 2021, DEWALT introduced DEWALT POWERSTACK 20V MAX Compact Battery, a new era of performance for DEWALT cordless power tools.
  • In 2021, Robert Bosch Power Tools GmbH elaunched 12V and 18V cordless sanders i.e., GEX12V-5 Brushless 5 to extend its woodworking and wood cutting solutions.
  • In 2020, Makita Corporation introduced 8V X2 LXT® (36V) Cordless String Trimmer (XRU18). This string trimmer has a power comparable to a 30cc gas string trimmer and offers more productivity with the help of a 17″ cutting swath.
  • In 2020, Makita Corporation launched 8V X2 LXT® (36V) Cordless String Trimmer (XRU18). This string trimmer has a power comparable to a 30cc gas string trimmer and offers increased productivity with the help of a 17″ cutting swath.
  • In 2020, Hilti Corporation launched a suite of 40 new tools, systems, and accessories. This line comprises the most powerful cordless cutting tools in the market, a battery-powered cordless fastening tool, BX-3BT, to assist the customers in completing high-quality installations on time and safely.

The global power tools market segmentation is categorized on the basis of tool type, mode of operation, application, and regions. Based on tool type, the market is segmented into demolition tools, drilling & fastening tools, material removal tools, sawing & cutting tools, routing tools, and others. Based on the mode of operation, the market is segmented into pneumatic, electric, and other tools. Based on application, the market is segmented into industrial/professional and residential/DIY. 

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Market Segmentation

Global Power Tools Market by Tool Type

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

Global Power Tools Market by Mode of Operation

• • Pneumatic
  • Electric
  • Other Tools

Global Power Tools Market by Application

• • Industrial/Professional
  • Residential/DIY

Global Power Tools Market by Region

• • North America Power Tools Market (Option 1: As a part of the free 25% customization)
    • By Tool Type
    • By Mode of Operation
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Power Tools Market (Option 2: As a part of the free 25% customization)
    • By Tool Type
    • By Mode of Operation
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Power Tools Market (Option 3: As a part of the free 25% customization)
    • By Tool Type
    • By Mode of Operation
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Power Tool Market (Option 4: As a part of the free 25% customization)
    • By Tool Type
    • By Mode of Operation
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Power Tools Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Robert Bosch Tool Corporation
  • Stanley Black & Decker, Inc.
  • Hilti Corporation
  • Makita Corporation
  • Apex Tool Group, LLC.
  • Atlas Copco
  • Snap-on Incorporated.
  • Ingersoll-Rand plc
  • Koki Holdings Co., Ltd.
  • Emerson Electric Co.