Battery Power Tools Market to Reach $41.1 Bn, Globally, by 2030 at 6.9% CAGR: Allied Market Research

Surge in adoption of battery power tools in the automotive industry and rise in popularity of brushless battery power tools drive the growth of the global battery power tools market

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Allied Market Research

Jan 20, 2022, 19:40 ET

PORTLAND, Ore., Jan. 21, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Battery Power Tools Market by Motor Type (Brushed and Brushless), Tool (Drills, Saws, Lawn Motors, Impact Wrench and Others) and Application (Industrial and DIY): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global battery power tools industry generated $20.7 billion in 2020, and is anticipated to generate $41.1 billion by 2030, witnessing a CAGR of 6.9% from 2021 to 2030.

Prime determinants of growth

Surge in adoption of battery power tools in the automotive industry, rise in popularity of brushless battery power tools, and upsurge in demand for affordable & energy-efficient power tools drive the growth of the global battery power tools market. However, availability of low cost alternative and decline in rate of new construction in developed nations hinder the market growth. On the other hand, advancements of rechargeable batteries present new opportunities in the coming years.

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Covid-19 Scenario

The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global battery power tools market in the first & second quarter, owing to implementation of global lockdown.
However, the market recovered in the third & fourth quarter of the pandemic, due to recovery of sales majorly in North America and Europe.

The brushed motor segment to maintain its leadership status throughout the forecast period

Based on motor type, the brushed motor segment held the highest market share in 2020, accounting for nearly three-fourths of the global battery power tools market, and is estimated to maintain its leadership status throughout the forecast period, owing to its lower cost. Moreover, the brushless motor segment is projected to manifest the highest CAGR of 7.2% from 2021 to 2030, owing to its low maintenances.

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The industrial segment to maintain its lead position during the forecast period

Based on application, the industrial segment accounted for the largest share in 2020, contributing to nearly three-fifths of the global battery power tools market, and is projected to maintain its lead position during the forecast period. This is due to use of battery power tools on large scale in manufacturing and service industries. However, the DIY segment is expected to portray the largest CAGR of 7.1% from 2021 to 2030, owing to rise in DIY culture in North America and Europe region.

North America to maintain its dominance by 2030

Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global battery power tools market, owing to high expenditure on battery power tools. Moreover, the LAMEA region is expected to witness the fastest CAGR of 8.6% during the forecast period, owing to rapid industrialization in the region.

Leading Market Players

Apex Tool Group
Atlas Copco AB
Hilti Corporation
Ingersoll-Rand PLC
Hitachi Ltd.
Makita Corporation
Robert Bosch GmbH
Snap-On Incorporated
Stanley Black and Decker
Techtronic Industries

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