Global Cordless Power Tools Market 2024

Global Cordless Power Tools Market 2024

The global cordless power tools market is projected to exhibit robust growth, with an estimated Compound Annual Growth Rate (CAGR) exceeding 7.8% during the forecast period of 2024-2030. This growth trajectory is expected to result in an incremental market value of USD 10.8 billion. These battery-powered, portable tools serve a diverse range of applications across commercial, residential, and do-it-yourself (DIY) sectors. Characterized by their compact and wireless designs, these tools utilize either brushed or brushless motor technologies.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the product, motor type, battery type, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global cordless power tools market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for cordless power tools can be segmented by product: drilling and fastening tools, sawing and cutting tools, demolition tools, material removal tools, routing tools, others. In 2023, the drilling and fastening segment emerged as the largest in the cordless power tools market. These tools, including drills, impact wrenches, and screwdrivers, are commonly used together in various industries. The application of drills depends on the nature of the work, while impact drills and wrenches differ in effectiveness and productivity.

Cordless power tools market is further segmented by motor type: brushed motors, brushless motors. The brushed motors market is expected to grow at a CAGR of 7.1% from 2024 to 2030. These motors have a simple design and lower manufacturing costs. They are considered cost-effective and reliable compared to brushless motors. However, brushless motors generally offer greater power output.

Based on battery type, the cordless power tools market is segmented into: 12 V, 18V, 20V, 40V, Above 40V. The 12 V battery segment is the largest in the global cordless power tools market. Robert Bosch is one of the players producing lithium-ion batteries, such as the BAT414, a compact and lightweight 12 V Max lithium-ion 2.0 Ah battery optimized for battery life, power, and runtime.

On the basis of end user, the cordless power tools market also can be divided into: industrial, commercial, residential. The industrial end-user segment dominated the market, with hand tools extensively used in automotive, aerospace, electronics, energy, construction, and shipbuilding industries. The construction sector generates the highest revenue, followed by the automotive industry for high-precision assembly.

Cordless power tools market by region is categorized into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America, led by the United States, held the top position in the market and is expected to grow at a CAGR of 7.3%. The region is home to major industries, including automotive, construction, aerospace, electronics, and packaging. The presence of a significant number of electric cars in the automotive sector reflects the demand for eco-friendly products.

The market research report covers the analysis of key stake holders of the global cordless power tools market. Some of the leading players profiled in the report include Andreas Stihl AG & Co. KG, Apex Tool Group, LLC, Atlas Copco AB, Basso Industry Corporation, CHERVON (China) Trading Co., Ltd., Dynabrade, Inc., Einhell Germany AG (Thannhuber AG), Emerson Electric Co. (The Ridge Tool Company), Fairlink Limited, Ferm International B.V., Festool GmbH, Fortive Corporation, Greenworks (Jiangsu) Co., Ltd., HAZET-WERK - Hermann Zerver GmbH & Co. KG., Hilti Corporation, Husqvarna AB, Illinois Tool Works Inc., Ingersoll Rand Inc., Interskol ZAO, Koki Holdings Co., Ltd., Kyocera Corporation (Ryobi Limited), Makita Corporation, Metabowerke GmbH, Oregon Tool, Inc., Panasonic Holdings Corporation, Positec Tool Corporation, Rexon Industrial Corp. Ltd., Robert Bosch GmbH, Snap-on Incorporated, Stanley Black & Decker, Inc., Techtronic Industries Company Limited (TTI), URYU Seisaku Ltd., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Why Choose This Report

Gain a reliable outlook of the global cordless power tools market forecasts from 2024 to 2030 across scenarios.

Identify growth segments for investment.

Stay ahead of competitors through company profiles and market data.

The market estimate for ease of analysis across scenarios in Excel format.

Strategy consulting and research support for three months.

Print authentication provided for the single-user license.

Market Segments Covered in Global Cordless Power Tools Industry Analysis:

i.) Product

• Drilling and fastening tools
• Sawing and cutting tools
• Demolition tools
• Material removal tools
• Routing tools
• Others

ii.) Motor type

• Brushed motors
• Brushless motors

iii.) Battery type

• 12 V
• 18V
• 20V
• 40V
• Above 40V

iv.) End user

• Industrial
• Commercial
• Residential

v.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America