The Global Cordless Power Tools Market to Reach Revenues of Around $23 Billion During the Period 2020−2025 - Market Research by Arizton

News provided by

Apr 08, 2020, 11:00 ET

CHICAGO, April 8, 2020 /PRNewswire/ -- According to Arizton's recent research report, Cordless Power Tools Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of over 9% during the period 2019−2025. Leverage Arizton's data-driven and deep market insights on the impact of COVID-19 across geographies, segments, and vendor landscape to take real-time strategic business decisions and enhance your product/service portfolios.

Key Highlights Offered in the Report:

The global cordless power tools market is expected to pose an absolute growth of over 70% due to the development of Li-ion batteries, brushless motors, DIY activities, and precision manufacturing.
The drilling and fastening tools dominated the market which is expected to grow at a CAGR of over 8% during the forecast period.
The industrial segment was the largest end user segment that accounted for around 75% of the revenue in 2019 and is expected to generate an incremental revenue of over $6 billion during 2020-2025.
The residential segment is expected to grow at the fastest CAGR of around 13% owing to the rise in adoption of hammer drills, glue guns, jig saws, layout tools, and screwdrivers for household activities
The highly advanced construction industry and the growing automotive industry is driving the market in European region which is expected to post an absolute growth of approximately 70% during 2020-2025.
APAC is the fastest growing market with a CAGR of around 11% owing to the growth in electronics, energy, and construction activities especially in India, Japan, Indonesia, and South Korea.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by tool types, end-user, and geography
Competitive Landscape – Profile of 5 key vendors and 22 other vendors

Get your sample today! https://www.arizton.com/market-reports/cordless-power-tools-market

Cordless Power Tools Market – Segmentation

The growth in renovation, retrofit, and DIY activities is expected to drive the market in the residential and commercial segments. Dust removal equipment such as dust extractors are used in households without professionals, making them one of the largest contributors to the residential segment.
Expansion activities are more likely to improve the scope for impact drivers, wrenches, rotary hammers, demolition hammers, layout tools, and circular saws. Under the Budget 2020, Malaysia is likely to take the number of new infrastructure projects, including a new cable car system in the Penang Hill and housing for Felda settlers.
Advances in the European aerospace sector, which is one of the highly developed industries that manufacture high-class jets, helicopters, aero engines, civil aircraft, and unmanned aerial vehicles, is likely to influence the demand for cordless power tools. A similar growth trend can be seen in the consumer electronics industry, thereby driving the demand for fastening tools.

Market Segmentation by Tool Types

Drilling & Fastening Tools

Drills
Impact Drivers
Impact Wrenches
Screwdrivers & Nut Runners

Demolition Tools

Demolition Hammers
Rotary Hammers
Hammer Drills

Sawing and Cutting Tools

Jigsaws
Reciprocating Saws
Circular Saws
Band Saws
Shears and Nibblers

Material Removal Tools

Sanders
Grinders

Routing Tools
Others

Layout Tools
Laser Tools
Dust Extractors
Heat and Glue Guns

Market Segmentation by End-users

Industrial

Automotive
Aerospace
Electronics
Energy
Construction
Shipbuilding
Others

Commercial
Residential

Cordless Power Tools Market – Dynamics

Over the past few decades, emerging economies in APAC that are witnessing high economic growth, markets with potentially high consumption, and those with increasing industrial and manufacturing competitiveness have started to challenge their developed counterparts in global manufacturing. These economies are making strong progress across all types of manufacturing, constituting as much as 65% of the output through low and medium technology-enabled industries that can demand high precision tools. High-tech manufacturing, including precision manufacturing, which traditionally was dominated by countries such as the US, Germany, Italy, Switzerland, and France, has shifted toward economies such as China, Singapore, and India. The prominence of Asian manufacturing activities wil boost revenues in the cordless power tools market.

Key Drivers and Trends fueling Market Growth:

Rise in Demand for Industrial Heat Guns
Industry 4.0 and Smart Precision Manufacturing
Advances in Li-ion Batteries
Growth in DIY Activities

Cordless Power Tools Market – Geography

North America was the largest market for cordless power tools in 2019. The region is expected to maintain its position during the forecast period, with revenue mostly being generated from the US, the largest economy of the region. North America is home to several large industries, including the automobile, construction, aerospace, electronics, and packaging. Advances in Li-ion battery technology, which is expected to grow at a CAGR of over 9% between 2019 and 2024, the cordless power tools industry in North America is expected to exhibit high growth. A forerunner in the automobile industry manufactures in the North American automotive sector the highest number of electric cars in the world due to rising demand for eco-friendly products. Some of the largest automobile manufacturers, such as Ford, General Motors, and FCA, are based in the US.

Get your sample today! https://www.arizton.com/market-reports/cordless-power-tools-market

Market Segmentation by Geography

Europe

Germany
Italy
UK
France
Spain

North America

US
Canada

APAC

China
Japan
India
South Korea
Australia

MEA

South Africa
UAE
Saudi Arabia
Turkey

Latin America

Brazil
Mexico

Major Vendors

Stanley Black & Decker
Robert Bosch
Techtronic Industries Company (TTI)
Makita
Hilti

Other vendors include - Atlas Copco, Apex Tool Group, Ingersoll Rand, Snap-on, Koki Holdings, Emerson, Panasonic, Fortive, Positec, Chervon, Fein, FERM, AIMCO, Uryu Seisaku, Interskol, Festool, KYOCERA, CS Unitec, Dynabrade, Husqvarna, STIHL, and Blount.

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

Read some of the top-selling reports:

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.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

CONTACT:

Mail: [email protected]
Call: +1-312-235-2040
+1-302-469-0707

SOURCE Arizton Advisory & Intelligence