PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1643603
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1643603
The global cordless power tools market is projected to grow from $27.2 billion in 2024 to $52.7 billion by 2032, reflecting a compound annual growth rate (CAGR) of 11.8%. This growth is driven by the expanding acceptance of cordless power tools, rising demand for fastening tools in the industrial sector, and a booming construction industry in developing nations. Technological advancements have led to the development of various tools and machines, with battery-powered tools increasingly replacing handheld and wired electric variants due to their efficiency. Additionally, the construction industry faces pressure to utilize equipment that reduces the need for manual labor, further propelling market growth.
Key Insights
Drilling and fastening tools are essential in construction and manufacturing for tasks like assembling components and installing fixtures. Sawing and cutting tools are vital in carpentry, plumbing, and electrical work, while demolition tools are crucial for renovation and construction projects. Material removal tools aid in surface preparation by removing excess material, and routing tools are commonly utilized in woodworking and cabinetry for hollowing out hard materials.
Industrial sectors such as automotive, aerospace, and manufacturing extensively use cordless power tools for assembly, maintenance, and repair operations. In the commercial sector, these tools are employed for building and infrastructure maintenance. The residential segment includes homeowners and DIY enthusiasts who use cordless tools for home improvement and repair projects.
Brushed motors are traditional, cost-effective options but require more maintenance due to brush wear. Brushless motors, which offer higher efficiency, longer life, and less maintenance, are becoming increasingly popular in cordless power tools.
Battery voltage categories include 12V models for light-duty tasks, 18V and 20V variants for medium to heavy-duty applications, and 40V and higher models designed for heavy-duty industrial tasks requiring high power output.
North America currently holds the largest market share due to early adoption of advanced technologies and a robust construction industry. Asia-Pacific is expected to witness the fastest growth, driven by rapid industrialization, urbanization, and increasing infrastructure development projects.
Lithium-ion batteries, with longer life, higher energy density, and safer disposal, are widely adopted in cordless power tools. Brushless motors provide higher power, lower maintenance, and reduced noise, making them ideal for sensitive environments and enhancing the appeal of cordless tools.
Rising labor costs have increased the demand for efficient, user-friendly cordless power tools to enhance productivity. The growth of DIY activities has boosted demand among homeowners and hobbyists. Additionally, the surge in infrastructure projects, especially in developing countries, is driving the use of cordless power tools in construction and related industries.
The market is fragmented, with key players focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their position.