United States Power Tools Market Assessment, By Tool Type, By Application, By Portability, By End-user, By Sales Channel, By Region, Opportunities and Forecast, 2017-2031F

United States power tools market is projected to witness a CAGR of 4.62% during the forecast period 2024-2031, growing from USD 7.08 billion in 2023 to USD 10.15 billion in 2031. The evolving power tool technology in the United States is attributed to the integration of technologies, expansion of transformed automotive industry, do-it-yourself trend, and smart factories.

The United States power tools market is experiencing strong growth, driven by two key trends, increasing popularity of DIY home improvement projects and the adoption of smart manufacturing technologies in factories. As the middle-class population seeks to improve their living conditions, the demand for DIY power tools is on the rise. Most adults in the United States engage in home improvement and maintenance activities, with efficient and handy power tools making these tasks quicker, more efficient, and less labor-intensive. On the industrial side, the adoption of smart manufacturing practices and the Internet of Things (IoT) is driving innovation in power tools. As factories become increasingly interconnected, manufacturers are prioritizing the production of smart and connected tools. Leading brands such as Milwaukee Tool and Robert Bosch GmbH offer digital platforms and apps that allow users to customize settings, monitor projects, track equipment, and manage tasks. These advanced features boost productivity and efficiency on the production floor. The overall industrial expansion of the United States industries along with the extended research and development procedures are anticipated to propel market growth. Companies in the region are expanding their operations and innovating the product line offered.

For instance, in April 2022, Milwaukee Electric Tool Corporation announced its Milwaukee Tool in Chicago at the historic old post office. This location is going to focus on engineering design and innovation and has space to house over 250 employees. Milwaukee Tool intends to promote a disruptive innovation culture that will enable them to lead the construction sector in the development of multiple new power tool technologies.

Advanced Battery Platform and Technological Advancements to Fuel Market Growth

Connectivity features on tools provide for real-time performance monitoring, predictive maintenance, and an improved user experience through mobile applications. This connectivity offers better operational efficiency and raises concerns about safety and compliance at job sites. Recent breakthroughs in battery technology, including solid-state and graphene batteries further improve energy density and cut recharging times. These new innovations make cordless tool performance and efficiency far better, expanding their applications and enhancing further inroads into the market.

The invention of lithium-ion batteries significantly enhanced the performance of cordless power tools. These batteries have higher energy density that allows tools to run more powerfully without adding weight. It enables manufacturers to come up with higher-powered cordless tools that are at par with their corded cousins and thus suitable for heavy-duty applications in industries such as construction and automotive. The infusion of the Internet of Things and smart technologies into battery-powered tools open more opportunities for innovation.

For instance, in July 2023, Makita U.S.A., Inc., launched the 18V LXT Compact Brushless 1/2 inch Hammer Driver-Drill Kit (XPH16T, 5.0Ah battery and charger included with kit). Increased power is available for a variety of driving, hammer-drilling, and drilling applications with the Hammer Driver-Drill. The new XPH14 is offered as part of a kit (XPH16T) that includes a DC18RC rapid charger and two 5.0Ah batteries (BL1850B).

Cordless Technology and Infrastructural Development to Fuel Market

The cordless technology has a significant impact on the power tool market of the United States, pushing growth and innovation in all sectors. One of the major drivers for the growth of market is shifting preferences towards battery-backed tools, including cordless hammer drills, impact wrenches, and circular saws. It gives flexibility and mobility, enabling them to work freely without being hampered by cords. One of the reasons is growing market for cordless tools which is apt for many purposes, from Do-It-Yourself (DIY) tasks to professional construction. Another reason is the rising number of infrastructure projects in roads, bridges, and public buildings in the United States.

A higher construction activity means a higher demand for power tools, which are required and needed to finish such projects efficiently and effectively. Power tools are used massively in residential and commercial construction and hence form an integral part of the construction industry. Major investments by governments in infrastructure are likely to continue, thus boosting the construction sector. These projects are expected to boost demand for solid, hard-hitting power tools, such as drills, saws, and impact drivers, that are crucial for heavy construction and detailed finishing work.

For instance, in August 2024, The United States Department of Transportation's Federal Aviation Administration (FAA) announced more than USD 636 million investment in 46 states and American Samoa to improve our nation's airport infrastructure. These projects fuel the market growth in the country.

Rapid Urbanization and Easy to Use Equipment to Fuel the Portable Segment's Growth

Portable segment dominate the power tools market share in terms of volume in the United States. Cordless power tools have many advantages over corded ones as they are portable, lighter, and easier to handle in confined spaces, making them more convenient to use, especially in construction and renovation work, where access to mains electricity might be problematic. The growing culture of DIY in the United States is one of the chief drivers of the resonance that cordless power tools get in the country.

Renovation programs are being handled by house-owners, who desire lightweight, easy-to-use cordless tools because of their handiness and versatility. Lithium-ion batteries changed the scene for cordless power tools by increasing higher energy density, lighter weight, and longer runtime than older battery types such as nickel-cadmium and nickel-metal hydride. This changed cordless tools into more practical and efficient applications.

For instance, in January 2024, Robert Bosch GmbH debuted over 30 new cordless products in 2024 World of concrete conference in Las Vegas, NV. Many of Bosch's newest products, such as Impact Wrenches, Inspection Cameras, and Bulldog Tough SDS-plus Drill Bits, are designed to give customers more adaptability, longer battery life, and other advantages when handling concrete and other materials on the job site.

Future Market Scenario (2024 - 2031F)

Expansion of power tool brands in the country, along with the high-end research and development are expected to fuel market growth.

Companies experiment with cordless and portable tools such as wrenches, drilling machines and new battery technology, anticipated to propel market growth.

Government funding and awareness around efficient power tools are projected to add value to the market size.

Key Players Landscape and Outlook

Companies are increasingly incorporating smart features into power tools, such as Bluetooth connectivity for tracking and safety. This innovation enhances user experience and operational efficiency, appealing to professional and DIY markets. The shift towards lithium-ion batteries has improved performance and portability of cordless tools. Manufacturers are focusing on developing tools that offer longer battery life and faster charging times, which are critical for residential and industrial applications. Companies are expanding their product lines to include a wider range of tools that cater to various applications, such as drilling, cutting, and material removal.

For instance, in February 2024, Makita U.S.A. Inc. introduced the 5-inch Paddle Switch Angle Grinder with AC/DC Switch (9558HP) in February of 2024. Employees engaged in plumbing, mechanical, and electrical fields, and those who work in metal fabrication industries can opt for this product.