CHICAGO, Dec. 13, 2022 /PRNewswire/ -- According to Arizton's latest research report, the cordless hammer drills market will grow at a CAGR of 11.22% from 2021-2027. Increasing demand from commercial spaces, the multiutility of cordless hammer drills, and the rise in do-it-yourself (DIY) are the key factors driving the market demand.
It has been observed that Americans, on average, spend $5,000 to $18,000 on house renovations. In 2019, over 25% of homeowners in the US spent $10,000 to $25,000 on house improvements and renovations. Close to 28% of property owners find remodeling cost-effective than purchasing a house that adequately accommodates their needs. Thus, it can be deduced that home renovation expenditure has increased in recent years, resulting in growth potential for the cordless hammer drills industry, which is essential for renovations and restructurings.
Moreover, developed countries, such as Europe, are witnessing aggressive renovations and upgrades in the region due to adopting energy-efficient ways to support net zero emission targets. This is expected to drive the demand for cordless hammer drills, thereby boosting the market and enabling players to leverage and earn revenues.
Cordless Hammer Drills Market Report Scope
Report Attributes |
Details |
Market Size (2027) |
USD 2.1 Billion |
Market Size (2021) |
USD 1.11 Billion |
CAGR (2021-2027) |
11.22 % |
Base Year |
2021 |
Forecast Year |
2022-2027 |
Market Segments |
Motor Type, Application, Voltage, Chuck Size, and Geography |
Geographic Analysis |
North America, Europe, APAC, Latin America, and Middle East & Africa |
Key Leading Companies |
China, India, South Korea, Japan, Australia, the US, Canada, the UK, |
Key Company Profiles |
Stanley Black & Decker, Robert Bosch, Techtronic Industries Company, |
Market Dynamics |
· Increasing Demand from Commercial Spaces · Multiutility of Cordless Hammer Drills · Rise in DIY Activities Across the Globe |
Page Number |
213 |
Customization Request |
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Most adults in developed economies, such as Europe and the US, indulge in innovative and purposeful leisure activities. Some consumers also indulge in home maintenance and improvement activities based on their interests. Consumers in countries like Italy, France, the UK, and Germany consider DIY activities as efficient work. Thus, this concept is gaining momentum in developing economies such as India, Brazil, and South Africa. The DIY home improvement market is expected to grow at a CAGR of 2.67% between 2019 and 2024. Most small household activities, such as woodwork and hardware works, can increase the demand for drillers and cordless hammer drills. Power tools are the most important components of DIY activities, which compelled most power tool vendors to design and offer compact and user-friendly power tools that are battery-powered and compete in the market.
Key Highlights
- The presence of hypermarkets, supermarkets, and other specialty stores, such as Home Depot, which offer DIY projects, is also driving the market for DIY tools, which raises the market for cordless hammer drills.
- The commercial sector generated the highest revenue, which accounted for $484.04 million in 2021 and is expected to reach $928.12 million by 2027.
- APAC is the fastest-growing market for cordless hammer drills and is expected to grow at a CAGR of 12.14% during the forecast period.
Development of Li-ion Batteries Impacting the Market Positively
While corded power tools have been predominant for years, the venture for cordless power tools has reshaped the face of the power tool industry. It has also contributed to the origin and extension of new product ranges in the battery-operated categories, which can further signify the accessories market for power tools. One of the most significant growth drivers in the cordless power tool industry over the last decade has been the introduction of Li-ion batteries. The growth in the need for long-lasting battery life led to several developments in batteries for high backup capacity. This has significantly increased the performance and efficiency of Li-ion batteries. Improved energy density, charging pace, cyclability, safety, and stability also increased the demand for lithium-ion batteries. Thereby propelling the adoption of Li-ion batteries in the cordless hammer drills market.
Key Company Profiles
- Stanley Black & Decker
- Robert Bosch
- Techtronic Industries Company
- Makita
- Hilti
- Atlas Copco
- Apex Tool Group
- Ingersoll Rand
- Snap-On
- Koki Holdings
- Emerson
- Panasonic
- Fortive
- Positec
- CHEVRON
- FEIN
- FERM
- AIMCO
- Uryu Seisaku
- INTRSKOL
- Festool
- Kyocera
- CS Unitec
- Dynabrade
- Husqvarna
- STIHL
- Oregon Tool, Inc.
Market Segmentation
Motor Type
- Brushless
- Brushed
Application
- Commercial
- Residential
- Industrial
Voltage
- 12V
- 18V
- 20V & Above
Chuck Size
- 1/2"
- 3/8" & Above
Geography
- APAC
- China
- India
- South Korea
- Japan
- Australia
- North America
- The US
- Canada
- Europe
- The UK
- France
- Italy
- Germany
- Spain
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
- The UAE
- South Africa
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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
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY MOTOR TYPE
4.3.2 MARKET SEGMENTATION BY APPLICATION
4.3.3 MARKET SEGMENTATION BY VOLTAGE
4.3.4 MARKET SEGMENTATION BY CHUCK SIZE
4.3.5 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 MARKET AT A GLANCE
7 PREMIUM INSIGHTS
7.1 REPORT REVIEW
7.2 OPPORTUNITY & CHALLENGE ANALYSIS
7.3 SEGMENT ANALYSIS
7.4 REGIONAL ANALYSIS
7.5 COMPETITIVE LANDSCAPE
8 INTRODUCTION
8.1 OVERVIEW
8.2 VALUE CHAIN ANALYSIS
8.2.1 RAW MATERIALS
8.2.2 MANUFACTURERS
8.2.3 RETAILERS
8.2.4 USERS
8.3 FREQUENTLY ASKED QUESTIONS
8.3.1 AT WHAT RATE WILL THE GLOBAL CORDLESS HAMMER DRILLS MARKET GROW POST-2022?
8.3.2 WHAT ARE THE MAJOR FACTORS AFFECTING THE CORDLESS HAMMER DRILLS MARKET?
8.3.3 WHAT IS THE DIFFERENCE BETWEEN HAMMER DRILLS AND IMPACT DRIVERS?
8.3.4 WHAT IS THE STATE OF THE CORDLESS HAMMER DRILLS MARKET IN DIFFERENT REGIONS ACROSS THE GLOBE?
8.3.5 WHY ARE CORDLESS HAMMER DRILL TOOLS EXPENSIVE, AND WILL THEIR PRICES CONTINUE TO RISE?
9 MARKET OPPORTUNITIES & TRENDS
9.1 RISE IN RENOVATIONS
9.2 DEVELOPMENT OF LI-ION BATTERIES
10 MARKET GROWTH ENABLERS
10.1 INCREASE IN DEMAND FROM COMMERCIAL SPACES
10.2 MULTIUTILITY OF CORDLESS HAMMER DRILLS
10.3 RISE IN DIY ACTIVITIES ACROSS THE GLOBE
11 MARKET RESTRAINTS
11.1 AVAILABILITY OF AFFORDABLE ALTERNATIVES
11.2 LACK OF SKILLED LABOR IN EMERGING ECONOMIES
11.3 US-CHINA TRADE WAR
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13 MOTOR TYPE
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 BRUSHLESS
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 MARKET BY GEOGRAPHY
13.4 BRUSHED
13.4.1 MARKET OVERVIEW
13.4.2 MARKET SIZE & FORECAST
13.4.3 MARKET BY GEOGRAPHY
14 APPLICATION
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 COMMERCIAL
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.3.3 MARKET BY GEOGRAPHY
14.4 RESIDENTIAL
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.4.3 MARKET BY GEOGRAPHY
14.5 INDUSTRIAL
14.5.1 MARKET OVERVIEW
14.5.2 MARKET SIZE & FORECAST
14.5.3 MARKET BY GEOGRAPHY
15 VOLTAGE
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 12V
15.3.1 MARKET OVERVIEW
15.3.2 MARKET SIZE & FORECAST
15.3.3 MARKET BY GEOGRAPHY
15.4 18V
15.4.1 MARKET OVERVIEW
15.4.2 MARKET SIZE & FORECAST
15.4.3 MARKET BY GEOGRAPHY
15.5 20V & ABOVE
15.5.1 MARKET OVERVIEW
15.5.2 MARKET SIZE & FORECAST
15.5.3 MARKET BY GEOGRAPHY
16 CHUCK SIZE
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 MARKET OVERVIEW
16.3 1/2"
16.3.1 MARKET OVERVIEW
16.3.2 MARKET SIZE & FORECAST
16.3.3 MARKET BY GEOGRAPHY
16.4 3/8" & ABOVE
16.4.1 MARKET OVERVIEW
16.4.2 MARKET SIZE & FORECAST
16.4.3 MARKET BY GEOGRAPHY
17 GEOGRAPHY
17.1 MARKET SNAPSHOT & GROWTH ENGINE
17.2 GEOGRAPHIC OVERVIEW
18 NORTH AMERICA
18.1 MARKET OVERVIEW
18.2 MARKET SIZE & FORECAST
18.3 MOTOR TYPE
18.3.1 MARKET SIZE & FORECAST
18.4 APPLICATION
18.4.1 MARKET SIZE & FORECAST
18.5 VOLTAGE
18.5.1 MARKET SIZE & FORECAST
18.6 CHUCK SIZE
18.6.1 MARKET SIZE & FORECAST
18.7 KEY COUNTRIES
18.7.1 US: MARKET SIZE & FORECAST
18.7.2 CANADA: MARKET SIZE & FORECAST
19 EUROPE
19.1 MARKET OVERVIEW
19.2 MARKET SIZE & FORECAST
19.3 MOTOR TYPE
19.3.1 MARKET SIZE & FORECAST
19.4 APPLICATION
19.4.1 MARKET SIZE & FORECAST
19.5 VOLTAGE
19.5.1 MARKET SIZE & FORECAST
19.6 CHUCK SIZE
19.6.1 MARKET SIZE & FORECAST
19.7 KEY COUNTRIES
19.7.1 UK: MARKET SIZE & FORECAST
19.7.2 GERMANY: MARKET SIZE & FORECAST
19.7.3 FRANCE: MARKET SIZE & FORECAST
19.7.4 SPAIN: MARKET SIZE & FORECAST
19.7.5 ITALY: MARKET SIZE & FORECAST
20 APAC
20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.3 MOTOR TYPE
20.3.1 MARKET SIZE & FORECAST
20.4 APPLICATION
20.4.1 MARKET SIZE & FORECAST
20.5 VOLTAGE
20.5.1 MARKET SIZE & FORECAST
20.6 CHUCK SIZE
20.6.1 MARKET SIZE & FORECAST
20.7 KEY COUNTRIES
20.7.1 CHINA: MARKET SIZE & FORECAST
20.7.2 JAPAN: MARKET SIZE & FORECAST
20.7.3 SOUTH KOREA: MARKET SIZE & FORECAST
20.7.4 AUSTRALIA: MARKET SIZE & FORECAST
20.7.5 INDIA: MARKET SIZE & FORECAST
21 LATIN AMERICA
21.1 MARKET OVERVIEW
21.2 MARKET SIZE & FORECAST
21.3 MOTOR TYPE
21.3.1 MARKET SIZE & FORECAST
21.4 APPLICATION
21.4.1 MARKET SIZE & FORECAST
21.5 VOLTAGE
21.5.1 MARKET SIZE & FORECAST
21.6 CHUCK SIZE
21.6.1 MARKET SIZE & FORECAST
21.7 KEY COUNTRIES
21.7.1 BRAZIL: MARKET SIZE & FORECAST
21.7.2 MEXICO: MARKET SIZE & FORECAST
22 MIDDLE EAST AND AFRICA
22.1 MARKET OVERVIEW
22.2 MARKET SIZE & FORECAST
22.3 MOTOR TYPE
22.3.1 MARKET SIZE & FORECAST
22.4 APPLICATION
22.4.1 MARKET SIZE & FORECAST
22.5 VOLTAGE
22.5.1 MARKET SIZE & FORECAST
22.6 CHUCK SIZE
22.6.1 MARKET SIZE & FORECAST
22.7 KEY COUNTRIES
22.7.1 SOUTH AFRICA: MARKET SIZE & FORECAST
22.7.2 SAUDI ARABIA: MARKET SIZE & FORECAST
22.7.3 UAE: MARKET SIZE & FORECAST
22.7.4 TURKEY: MARKET SIZE & FORECAST
23 COMPETITIVE LANDSCAPE
23.1 COMPETITION OVERVIEW
24 KEY COMPANY PROFILES
24.1 STANLEY BLACK & DECKER
24.1.1 BUSINESS OVERVIEW
24.1.2 PRODUCT OFFERINGS
24.1.3 KEY STRATEGIES
24.1.4 KEY STRENGTHS
24.1.5 KEY OPPORTUNITIES
24.2 ROBERT BOSCH
24.3 TECHTRONIC INDUSTRIES COMPANY
24.4 MAKITA
24.5 HILTI
25 OTHER PROMINENT VENDORS
25.1 ATLAS COPCO
25.1.1 BUSINESS OVERVIEW
25.1.2 PRODUCT OFFERINGS
25.2 APEX TOOL GROUP
25.3 INGERSOLL RAND
25.4 SNAP-ON
25.5 KOKI HOLDINGS
25.6 EMERSON
25.7 PANASONIC ELECTRIC WORKS EUROPE AG
25.8 FORTIVE
25.9 POSITEC
25.10 CHEVRON
25.11 FEIN
25.12 FERM
25.13 AIMCO
25.14 URYU SEISAKU
25.15 INTERSKOL
25.16 FESTOOL
25.17 KYOCERA
25.18 CS UNITEC
25.19 DYNABRADE
25.20 HUSQVARNA
25.21 STIHL
25.22 OREGON TOOL
26 REPORT SUMMARY
26.1 KEY TAKEAWAYS
26.2 STRATEGIC RECOMMENDATIONS
27 QUANTITATIVE SUMMARY
27.1 MARKET BY GEOGRAPHY
27.2 MARKET BY MOTOR TYPE
27.2.1 BRUSHLESS
27.2.2 BRUSHED
27.3 MARKET BY APPLICATION
27.3.1 COMMERCIAL
27.3.2 RESIDENTIAL
27.3.3 INDUSTRIAL
27.4 MARKET BY VOLTAGE
27.4.1 18V
27.4.2 12V
27.4.3 20V & ABOVE
27.5 MARKET BY CHUCK SIZE
27.5.1 1/2"
27.5.2 3/8"
27.6 NORTH AMERICA
27.6.1 MOTOR TYPE
27.6.2 APPLICATION
27.6.3 VOLTAGE
27.6.4 CHUCK SIZE
27.7 EUROPE
27.7.1 MOTOR TYPE
27.7.2 APPLICATION
27.7.3 VOLTAGE
27.7.4 CHUCK SIZE
27.8 APAC
27.8.1 MOTOR TYPE
27.8.2 APPLICATION
27.8.3 VOLTAGE
27.8.4 CHUCK SIZE
27.9 LATIN AMERICA
27.9.1 MOTOR TYPE
27.9.2 APPLICATION
27.9.3 VOLTAGE
27.9.4 CHUCK SIZE
27.10 MIDDLE EAST & AFRICA
27.10.1 MOTOR TYPE
27.10.2 APPLICATION
27.10.3 VOLTAGE
27.10.4 CHUCK SIZE
28 APPENDIX
28.1 ABBREVIATIONS
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