Global Electric Power Tools Facts

Global Electric Power Tools Facts

It is forecasted that the global electric power tools market will experience a compound annual growth rate (CAGR) of 5.0% in value terms over the forecast period, resulting in an estimated value of USD 41,779 million by the year 2029.

The global electric power tools market is segmented by power technology into cordless, corded, parts, and accessories for the respective time periods. In 2023, the cordless segment emerged as the dominant force in the market. The valuation of the cordless segment is projected to reach USD 18,704 million by 2029. Additionally, the cordless segment is anticipated to demonstrate the highest CAGR of 7.7% during the forecast period from 2024 to 2029.

In terms of revenue, the global electric power tools market is further categorized by online and offline segments from 2020 to 2029. The revenue of the online segment has witnessed robust growth from USD 2,802 million in 2020 to USD 3,801 million in 2023, showcasing a CAGR of 10.7%. It is expected that the total revenue of the online segment will reach USD 6,913 million in 2029, with a CAGR of 10.5% from 2024 to 2029.

The electric power tools market can be segmented into residential and industrial & professional categories. The residential segment is projected to reach USD 11,727 million by 2029, representing a CAGR of 4.3% over the forecast period from 2024 to 2029. Furthermore, the revenue of the industrial & professional segment is anticipated to grow at a CAGR of 5.2% to USD 30,052 million in 2029.

Geographically, North America has emerged as the leading player in the electric power tools market as of 2023, closely followed by Europe and Asia-Pacific.

Key players in the global electric power tools market include Techtronic Industries Company Limited, Robert Bosch GmbH, Stanley Black & Decker, Inc., Makita Corporation, Hilti Corporation, Koki Holdings Co., Ltd., Chervon Holdings Limited, Jiangsu Dongcheng Power Tools Co., Ltd., Atlas Copco Group, Snap-on Incorporated, Andreas Stihl AG & Co., Metabowerke GmbH, among others. As of 2023, the top 5 players collectively accounted for 70% of the market share.

This study aims to analyze the global market for various segments of electric power tools, including:

Power Technology: Cordless, Corded, and Parts & Accessories.

Distribution Channel: Online and Offline.

End-User: Residential and Industrial & Professional.

Region: North America, Europe, Asia-Pacific, and Rest of World (RoW).