Press release
Cordless Power Tools Market Growth Insights 2024 to 2033 | Growing at a CAGR of 8.7%
Prime determinants of growth
Technological advancements in battery technology, growing adoption in professional sectors, and rise of DIY culture and home improvement projects drive the market growth. However, the high initial costs of cordless power tools and their batteries can be a barrier to adoption, especially for budget-conscious consumers and small businesses. On the other hand, the rapid growth of construction and infrastructure projects in emerging markets presents a significant opportunity for the cordless power tools industry.
According to the report, the cordless power tools market was valued at $15.7 billion in 2023, and is estimated to reach $36.2 billion by 2033, growing at a CAGR of 8.7% from 2024 to 2033.
Request PDF Sample Copy: https://www.alliedmarketresearch.com/request-sample/A10840
Segmental Overview
By product type, the Drilling and Fastening Tools segment held the highest market share in the cordless power tools market in 2023. This category typically holds the highest market share in the cordless power tools segment. Drilling and fastening tools are essential across various industries, including construction, automotive, and manufacturing, contributing significantly to overall sales and usage. However, the garden tools segment is expected to grow at the highest CAGR during the forecast period. This category is expected to experience higher growth with a higher Compound Annual Growth Rate (CAGR) . As consumer interest in gardening and outdoor activities increases, there is a growing demand for cordless garden tools such as lawn mowers, hedge trimmers, and leaf blowers. Advances in battery technology, reducing noise levels, and improving environmental impact are key factors driving this growth.
By motor type, the brushless segment held the highest market share in terms of revenue in 2023. Brushless motors are preferred for their efficiency, longer lifespan, reduced maintenance needs, and higher power output compared to brushed motors. Many manufacturers have transitioned towards using brushless motors due to these advantages, especially in premium and professional-grade tools. On the other hand, the brushless segment is also expected to grow at the higher CAGR. This growth is driven by ongoing technological advancements, increasing demand for higher efficiency and longer battery life, and broader adoption across various tool categories including drills, impact drivers, saws, and more.
By end user, the construction segment held the highest market share in terms of revenue in 2023. Cordless tools are widely used in construction due to their portability, convenience, and ability to operate in diverse environments. Tools such as drills, impact drivers, saws, and rotary hammers are essential for various construction tasks, driving significant demand in this sector. On the other hand, the gardening segment is also expected to grow at the higher CAGR. There is a rising trend towards cordless garden tools such as lawn mowers, hedge trimmers, leaf blowers, and chainsaws due to increasing urbanization, environmental concerns, and consumer preference for quieter and emission-free equipment. Advances in battery technology, improving runtime, and affordability are further boosting the adoption of cordless tools in gardening.
Inquire Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/A10840
Asia-Pacific to maintain its dominance by 2033.
Asia-Pacific is expected to maintain its lead in the cordless power tools market by 2033, driven by rapid urbanization, infrastructure projects, growing industrialization, and increasing consumer interest in DIY activities. Technological advancements and supportive government policies further bolster this dominance, making the region a key hub for market growth and innovation in portable and efficient tool solutions.
Top Players:
The major players operating in the cordless power tools market include as DeWalt Industrial Tool Company, Makita Corporation, Robert Bosch GmbH, Milwaukee Electric Tool Corporation, Ryobi Limited, Black & Decker Corporation, Ridgid (Emerson Electric Co.) , Koki Holdings Co., Ltd. (Metabo HPT) , Festool GmbH, and Porter-Cable (Stanley Black & Decker, Inc.) .
Read More Related Reports:
Cordless Power Tools Market -
https://www.globenewswire.com/news-release/2024/08/19/2931961/0/en/Cordless-Power-Tools-Market-to-Reach-36-2-Billion-Globally-by-2033-at-8-7-CAGR-Allied-Market-Research.html
Striking Tools Market -
https://www.prnewswire.com/news-releases/striking-tools-market-to-reach-1-7-billion-globally-by-2032-at-2-8-cagr-allied-market-research-302222596.html
Tools market -
https://www.prnewswire.com/news-releases/tools-market-to-reach-153-2-billion-globally-by-2032-at-5-2-cagr-allied-market-research-301871156.html
Battery Power Tools Market - https://www.prnewswire.com/news-releases/battery-power-tools-market-to-reach-41-1-bn-globally-by-2030-at-6-9-cagr-allied-market-research-301465207.html
South Korea Battery Power Tools Market -
https://www.globenewswire.com/news-release/2022/02/08/2380760/0/en/South-Korea-Battery-Power-Tools-Market-Is-Expected-to-Reach-351-2-Million-by-2030-Says-AMR.html
power tools market -
https://www.alliedmarketresearch.com/power-tools-market
Hydraulic Tools Market -
https://www.prnewswire.com/news-releases/hydraulic-tools-market-to-garner-2-34-bn-globally-by-2026-at-5-9-cagr-says-allied-market-research-301035800.html
Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Technological advancements in battery technology, growing adoption in professional sectors, and rise of DIY culture and home improvement projects drive the market growth. However, the high initial costs of cordless power tools and their batteries can be a barrier to adoption, especially for budget-conscious consumers and small businesses. On the other hand, the rapid growth of construction and infrastructure projects in emerging markets presents a significant opportunity for the cordless power tools industry.
According to the report, the cordless power tools market was valued at $15.7 billion in 2023, and is estimated to reach $36.2 billion by 2033, growing at a CAGR of 8.7% from 2024 to 2033.
Request PDF Sample Copy: https://www.alliedmarketresearch.com/request-sample/A10840
Segmental Overview
By product type, the Drilling and Fastening Tools segment held the highest market share in the cordless power tools market in 2023. This category typically holds the highest market share in the cordless power tools segment. Drilling and fastening tools are essential across various industries, including construction, automotive, and manufacturing, contributing significantly to overall sales and usage. However, the garden tools segment is expected to grow at the highest CAGR during the forecast period. This category is expected to experience higher growth with a higher Compound Annual Growth Rate (CAGR) . As consumer interest in gardening and outdoor activities increases, there is a growing demand for cordless garden tools such as lawn mowers, hedge trimmers, and leaf blowers. Advances in battery technology, reducing noise levels, and improving environmental impact are key factors driving this growth.
By motor type, the brushless segment held the highest market share in terms of revenue in 2023. Brushless motors are preferred for their efficiency, longer lifespan, reduced maintenance needs, and higher power output compared to brushed motors. Many manufacturers have transitioned towards using brushless motors due to these advantages, especially in premium and professional-grade tools. On the other hand, the brushless segment is also expected to grow at the higher CAGR. This growth is driven by ongoing technological advancements, increasing demand for higher efficiency and longer battery life, and broader adoption across various tool categories including drills, impact drivers, saws, and more.
By end user, the construction segment held the highest market share in terms of revenue in 2023. Cordless tools are widely used in construction due to their portability, convenience, and ability to operate in diverse environments. Tools such as drills, impact drivers, saws, and rotary hammers are essential for various construction tasks, driving significant demand in this sector. On the other hand, the gardening segment is also expected to grow at the higher CAGR. There is a rising trend towards cordless garden tools such as lawn mowers, hedge trimmers, leaf blowers, and chainsaws due to increasing urbanization, environmental concerns, and consumer preference for quieter and emission-free equipment. Advances in battery technology, improving runtime, and affordability are further boosting the adoption of cordless tools in gardening.
Inquire Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/A10840
Asia-Pacific to maintain its dominance by 2033.
Asia-Pacific is expected to maintain its lead in the cordless power tools market by 2033, driven by rapid urbanization, infrastructure projects, growing industrialization, and increasing consumer interest in DIY activities. Technological advancements and supportive government policies further bolster this dominance, making the region a key hub for market growth and innovation in portable and efficient tool solutions.
Top Players:
The major players operating in the cordless power tools market include as DeWalt Industrial Tool Company, Makita Corporation, Robert Bosch GmbH, Milwaukee Electric Tool Corporation, Ryobi Limited, Black & Decker Corporation, Ridgid (Emerson Electric Co.) , Koki Holdings Co., Ltd. (Metabo HPT) , Festool GmbH, and Porter-Cable (Stanley Black & Decker, Inc.) .
Read More Related Reports:
Cordless Power Tools Market -
https://www.globenewswire.com/news-release/2024/08/19/2931961/0/en/Cordless-Power-Tools-Market-to-Reach-36-2-Billion-Globally-by-2033-at-8-7-CAGR-Allied-Market-Research.html
Striking Tools Market -
https://www.prnewswire.com/news-releases/striking-tools-market-to-reach-1-7-billion-globally-by-2032-at-2-8-cagr-allied-market-research-302222596.html
Tools market -
https://www.prnewswire.com/news-releases/tools-market-to-reach-153-2-billion-globally-by-2032-at-5-2-cagr-allied-market-research-301871156.html
Battery Power Tools Market - https://www.prnewswire.com/news-releases/battery-power-tools-market-to-reach-41-1-bn-globally-by-2030-at-6-9-cagr-allied-market-research-301465207.html
South Korea Battery Power Tools Market -
https://www.globenewswire.com/news-release/2022/02/08/2380760/0/en/South-Korea-Battery-Power-Tools-Market-Is-Expected-to-Reach-351-2-Million-by-2030-Says-AMR.html
power tools market -
https://www.alliedmarketresearch.com/power-tools-market
Hydraulic Tools Market -
https://www.prnewswire.com/news-releases/hydraulic-tools-market-to-garner-2-34-bn-globally-by-2026-at-5-9-cagr-says-allied-market-research-301035800.html
Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
