Cordless Power Tools Power Size by Revenue to Reach USD 26.29 Billion by 2026 - Arizton

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Dec 09, 2021, 16:00 ET

CHICAGO, Dec. 9, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this cordless power tools market report.

The cordless power tools market is expected to grow at a CAGR of over 10% during the period 2020−2026.

Key Insights:

The presence of hypermarkets, supermarkets, and other specialty stores such as Home Depot, which offer more DIY projects, are also driving the market for DIY tools, which eventually raises the market for cordless power tools.
The rise in the application of precision parts and surge in global consumer traffic is expected to drive the demand for cordless power tools in the aerospace industry. Accordingly, the segment is expected to generate USD 2,002.10 million by 2026.
Futuristic inventions in the mainstream robotic technology and complementary technologies would boost investors' confidence in the market, and the market will witness an increase in VC funding in the market. New startups would come with robotic lawn mowers with advanced features while existing vendors will continue developing their product portfolio with upgrades.
The global demolition hammers market is likely to USD 1,880 million by 2026 as they accomplish cutting and demolishing hard materials.
Many international players are expected to expand their reach worldwide during the forecast period in APAC and Latin America to gain more market share.

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by tool type, end-user, and geography
Competitive Landscape – 5 key vendors, and 22 other vendors are profiled in the report

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Cordless Power Tools Power Market – Opportunities Assessment

Vendors must develop new technologies and need to remain abreast with upcoming innovations to have a competitive advantage. Many international players are expected to expand their reach worldwide during the forecast period, especially in the fast-developing countries in APAC and Latin America, to gain more market share. The Zamo laser measure by Bosch was a gamechanger in the cordless measurement tool segment. The market competition is expected to intensify further with an increase in product extensions, growth in technological innovations, and an increase in mergers and acquisitions. Vendors are manufacturing cordless power tools with innovative product specifications to capture more consumer interest and improve user convenience, thereby, fueling the growth of the market. For instance, TTI launches more than 300 new upgraded products each year and it takes six months to develop a new product. Accordingly, Bosch power tools in India wanted end-users in the country to get a hands-on experience of the Bosch cordless power tools that were achieved through demonstration vans. The mobile campaign was planned in Chennai, Mumbai, Kolkata, Delhi, Cochin, Hyderabad, and Pune that can probably increase the adoption of cordless power tools.

Cordless Power Tools Market 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
Others

Layout & Laser Tools
Dust Extractors
Heat and Glue Guns

Cordless Power Tools Market by End-user

Industrial

Automotive
Aerospace
Electronics
Energy
Construction
Shipbuilding
Other Industry

Commercial
Residential

Cordless Power Tools Market by Geography

North America

US
Canada

Europe

UK
Germany
France
Italy
Spain

APAC

China
India
Japan
South Korea
Australia

Latin America

Mexico
Brazil

Middle East & Africa

Saudi Arabia
Turkey
South Africa
UAE

Key Drivers and Trends fueling Market Growth:

The rise in Demand for Industrial Heat Guns
Increased Prominence of Asian Manufacturing
Industry 4.0 and Smart Precision Manufacturing
Advances in Li-ion Batteries

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Prominent Vendors

Stanley Black & Decker
Robert Bosch
Techtronic Industries Company
Makita
Hilti

Other Prominent Vendors

Atlas Copco
Apex Tool Group
Ingersoll Rand
Snap-on
Koki Holdings
Emerson
Panasonic
Fortive
CHEVRON
Positec
FEIN
FERM
AIMCO
Uryu Seisaku
INTERSKOL
Festool
Kyocera
CS Unitec
Dynabrade
Husqvarna
STIHL
Blount International

Explore our industrial machinery profile to know more about the industry.

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence