Cordless Drill Market by Product Type (Drill Drivers, Hammer Drills, Impact Drivers), Power Capacity (High-Range Torque, Low-Range Torque, Mid-Range Torque), Sales Channel, Application - Global Forecast 2024-2030

Cordless Drill Market by Product Type (Drill Drivers, Hammer Drills, Impact Drivers), Power Capacity (High-Range Torque, Low-Range Torque, Mid-Range Torque), Sales Channel, Application - Global Forecast 2024-2030

The Cordless Drill Market size was estimated at USD 3.67 billion in 2023 and expected to reach USD 3.87 billion in 2024, at a CAGR 5.88% to reach USD 5.47 billion by 2030.

A cordless drill is a power tool equipped with a cutting tool and driving tool attachment, commonly used to drill holes in materials or for driving fasteners. Unlike traditional drills that require a continuous power connection through a cord, cordless drills are portable and operate on rechargeable batteries, which enhance their mobility and ease of use. Cordless drills are valued for convenience, allowing users to work in areas without access to electrical outlets and reducing the hazards associated with cords. The increasing number of residential and commercial construction projects globally significantly boosts the demand for cordless drills. However, the cordless drill market faces a significant challenge due to the high price point of these tools compared to their corded counterparts. Moreover, advancements in battery technology, such as lithium-ion batteries, which offer longer life and faster charging times, have made cordless drills more attractive. This technological enhancement meets the need for more durable and efficient tools, driving the demand for newer, better-performing models.

Regional Insights

In the Americas, particularly the United States and Canada, the demand for cordless drills is primarily driven by the robust DIY culture and professional construction and renovation sectors. Consumers in the region prioritize convenience, power, and battery life. Recent shifts towards more sustainable and energy-efficient tools have been observed, with companies investing in longer-lasting lithium-ion batteries and brushless motors to enhance performance and durability. The EMEA market is diverse, with regulations often driving the market characteristics. Due to stringent EU regulations, EU countries focus heavily on eco-friendly and energy-efficient products. The increasing popularity of home renovations and the rise in women DIY enthusiasts have also shaped the market, with compact, lightweight, and easy-to-use models becoming more popular. Moreover, the market for cordless drills in the Asia Pacific region shows significant growth due to increasing demand in the construction and home improvement sectors. The popularity of cordless drills is fueled by their convenience and advancements in battery technology, making them more efficient and user-friendly. In China and India, rapid urbanization and increased investment in infrastructure projects have led to greater demand for power tools such as cordless drills. Meanwhile, the focus on technologically advanced and lightweight tools in Japan contributes to market growth.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cordless Drill Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing number of furniture redevelopment activities
Inclination towards the DIY trend for household chores
Increasing online availability of cordless drill

Market Restraints

High cost and limited standardization in cordless drills

Market Opportunities

Significant advancements in battery technology
Growing investment and expansion of construction sector

Market Challenges

Availability of alternative technologies

Market Segmentation Analysis

Product Type: Growing preference for drill drivers in material drilling due to their ease of control, speed and efficiency
Sales Channel: Extensive availability of cordless drills through e-commerce and company owned websites

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cordless Drill Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cordless Drill Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Atlas Copco Introduces Innovative Cordless Drill Targeting Aerospace Industry

Atlas Copco introduced a new cordless drill specifically designed to meet the unique needs of aerospace manufacturing. The tool is engineered to provide optimal performance in the fabrication and assembly of aerospace components. This development aims to address the requirements of accuracy and reliability demanded by the aerospace industry and signifies Atlas Copco's commitment to innovative solutions in manufacturing technology.

Nabors Industries Partners with Corva to Spearhead Digital Advancements in Global Drilling Operations

Nabors Industries, a major entity in the global drilling sector, announced a strategic partnership with Corva, a data analytics firm, to enhance digital operations across Nabors' global platforms. This alliance leverages Corva's cutting-edge data-driven technologies to augment efficiency, safety, and decision-making processes in drilling operations. This collaboration marks a significant step towards the digital transformation in the drilling sector.

Hilti Advances Jobsite Operations with Expanded Nuron Cordless Tool Line-Up and Integrated Fleet Management

Hilti India Pvt. Ltd. recently enhanced its Nuron line of cordless tools, aiming to boost productivity and streamline operations on construction sites. This expansion introduces new tools with advanced technology to offer more power, efficiency, and longer run times suited for a wide range of job site applications. Nuron's advanced cordless tools and streamlined fleet management solution are engineered to deliver superior performance and convenience, solidifying Hilti's commitment to enhancing construction technology and operational efficiency.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cordless Drill Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Cordless Drill Market, highlighting leading vendors and their innovative profiles. These include ANDREAS STIHL AG & Co. KG,, Atlas Copco AB, Chervon Holdings Limited, Emerson Electric Co., FEIN POWER TOOLS INDIA PVT LTD., genesis power tools by Richpower Industries, Inc., Hilti India Pvt. Ltd., INGCO Inc., Ingersoll Rand Inc, Koki Holdings Co., Ltd., MAFELL AG, Makita Power Tools India Pvt. Ltd., MENARD, INC., Metabowerke GmbH, Panasonic Industry Europe GmbH, Robert Bosch GmbH, RYOBI by TTI Consumer Power Tools, Inc., Snap-on Tools Pty Ltd, Stanley Black & Decker, Inc., Techtronic Industries Co., Ltd., TOLSEN TOOLS, Trotec GmbH,, and WORX by Positec Tool Corporation.

Market Segmentation & Coverage

This research report categorizes the Cordless Drill Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product Type
Drill Drivers
Hammer Drills
Impact Drivers
Screw Guns
Power Capacity
High-Range Torque
Low-Range Torque
Mid-Range Torque
Sales Channel
Offline
Online
Application
Construction
Industrials
Residential
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year