Cordless Power Tools

Cordless Power Tools

Global Cordless Power Tools Market to Reach US$41.9 Billion by 2030

The global market for Cordless Power Tools estimated at US$22.9 Billion in the year 2023, is expected to reach US$41.9 Billion by 2030, growing at a CAGR of 9.0% over the analysis period 2023-2030. Professional End-Use, one of the segments analyzed in the report, is expected to record a 9.8% CAGR and reach US$29.9 Billion by the end of the analysis period. Growth in the Consumer End-Use segment is estimated at 7.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$6.0 Billion While China is Forecast to Grow at 12.3% CAGR

The Cordless Power Tools market in the U.S. is estimated at US$6.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.7 Billion by the year 2030 trailing a CAGR of 12.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.9% and 7.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.8% CAGR.

Global Cordless Power Tools Market - Key Trends & Drivers

The global market for cordless power tools is experiencing robust growth, primarily fueled by advancements in battery technology and an increasing shift toward mobile, flexible solutions in industries ranging from construction to household DIY projects. Modern cordless power tools leverage lithium-ion batteries for longer life and better performance, which allows for more intensive use without the constant need for recharging. This shift is aligned with the growing demand for efficiency and faster completion of projects in both professional and personal settings. Furthermore, the rise of the DIY culture, especially in developed economies, has significantly boosted the sales of cordless drills, saws, and garden tools, as consumers undertake more home improvement projects influenced by digital how-to guides and home renovation shows.

In addition to technological advancements, the market expansion is also supported by the integration of smart technologies into power tools. These tools are now often equipped with Bluetooth connectivity and digital interfaces for better device management and enhanced operational efficiency. IoT-enabled cordless tools can communicate with smartphones and other devices, enabling features such as tool tracking, inventory management, and user manuals that can be easily accessed via apps. Such innovations not only attract tech-savvy consumers but also enhance the appeal of cordless power tools in professional settings, where equipment management and operational efficiency are paramount. Regulatory factors also play a crucial role, as increased emphasis on worker safety drives the adoption of cordless systems that are inherently safer to use, with fewer tripping hazards in comparison to their corded counterparts.

The growth in the cordless power tools market is driven by several factors, including the rapid urbanization across the globe, which necessitates portable and efficient tools for construction and infrastructure development. The expanding professional landscaping and maintenance services have further increased the demand for cordless equipment, as these tools offer the freedom to work without direct power sources, which is crucial in outdoor or remote settings. Another significant driver is the ongoing innovation in charging technologies, which reduces downtime for tools, thereby boosting productivity. As battery technology continues to evolve, making cordless tools lighter and more efficient, their adoption is expected to continue rising, bolstered by the growing trend towards automation and efficient energy use in industrial applications.

Select Competitors (Total 43 Featured) -

• Collomix North America
• Festool GmbH
• Friedrich Duss Maschinenfabrik GmbH & Co. KG
• Hilti North America
• Hitachi Koki Co., Ltd.
• Husqvarna AB
• Interskol
• Makita U.S.A., Inc.
• Metabo Corporation
• Milwaukee Electric Tool
• OTTO BAIER GmbH
• Robert Bosch GmbH
• Snap-on Inc.
• Stanley Black & Decker, Inc.

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