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Cordless Power Tools Market - Global Outlook and Forecast 2020-2025

  • ID: 5011299
  • Report
  • April 2020
  • Region: Global
  • 290 pages
  • Arizton
1h Free Analyst Time

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COVID-19 is going to affect the global cordless power tools market. A detailed analysis is included in the report.

The global cordless power tools market is expected to grow at a CAGR of over 9% during the period 2019–2025.

The increasing industrialization across the globe and the growing application of cordless tools in household and commercial sectors are expected to drive the global cordless power tools market during the forecast period. Automobile, aerospace, construction, electronics, shipbuilding industries are the major application end-users of cordless equipment. With the development of new generation battery technology, vendors are trying to implement cordless batteries in heavy power tools. This is expected to lead to the further enhancement and product development in these instruments. With the marketing restriction for (NiCd) cells and the low penetration of Nickel-metal hydride battery (NiMH) cells, the growth in Li-ion battery technology is likely to increase the adoption of cordless power tools.

The growing popularity of “Do it Yourself” (DIY) projects, which involve amateurs and enthusiasts to modify, maintain, upgrade, and rebuild material possessions such as household appliances, is increasing the adoption of battery-powered devices. The use of these tools in the DIY process is highly popular in developed countries. However, the trend is rapidly growing in developing countries. With the growing disposable income, the young population is attracted to craftsmanship, thereby spending on tools and equipment for home improvement and DIY projects. Hence, the popularity of the DIY concept in developed, as well as developing economies is expected to generate demand for cordless power devices.

The following factors are likely to contribute to the growth of the cordless power tools market during the forecast period:
  • Rise in Demand for Industrial Heat Guns
  • Increased Prominence of Asian Manufacturing
  • Growth in DIY Activities
  • Industry 4.0 and Smart Precision Manufacturing
The study considers the present scenario of the cordless power tools market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Cordless Power Tools Market: Segmentation

This research report includes a detailed segmentation by tool types, end-user, and geography. With the global electric vehicles market growing at 60% annually, the expansion and development of production facilities can result in the demand for cordless power tools, especially fastening, routing and material removal devices. This could be more prominent in China, Japan, the US, and Western European countries, where the production of EV is more likely to accelerate during the forecast period. The increasing energy cost to power pneumatic power tools, coupled with the energy efficiency objectives set by the US Department of Energy, has enforced the tool industry to rely on battery-powered equipment. Advances in the European aerospace sector, which is one of the highly developed industries that manufacture high-class jets, helicopters, aero engines, civil aircraft, and unmanned aerial vehicles, is likely to influence the demand for cordless power tools. A similar growth trend can be seen in the consumer electronics industry, thereby driving the demand for fastening tools.

The drilling and fastening segment is expected to reach over $1 billion by 2025. The rise in new aircraft building with precision parts will increase the demand for power tools. The increase in oil and rig activities in North America will drive the demand, especially for demolition devices, cutting devices, and fastening tools during the forecast period. The rise in renovation activities that are expected to be carried out in residential homes is expected to lead the demand for demolition tools such as rotary hammers, hammer drills and material removal tools such as sanders and polishers. Similarly, the increasing cash flow to improve the communication sector is increasing the demand for drivers and drillers. With more than 150 large shipyards, the European region stimulates the demand for demolition and fastening tools in the shipbuilding industry. The strong pipeline of projects in Chile is driving the machinery and equipment market. The investment in the oil and gas sector and the growth in public infrastructure are driving the economy of Colombia. Expansion activities are more likely to improve the scope for impact drivers, wrenches, rotary hammers, demolition hammers, layout tools, and circular saws. Under the Budget 2020, Malaysia is likely to take the number of new infrastructure projects, including a new cable car system in the Penang Hill and housing for Felda settlers. These new projects will require an additional workforce laced with advanced Li-ion powered cordless tools, including drillers and drivers.

Market Segmentation by Tool Types
  • Drilling & Fastening Tools
  • Drills
  • Impact Drivers
  • Impact Wrenches
  • Screwdrivers & Nut Runners
  • Demolition Tools
  • Demolition Hammers
  • Rotary Hammers
  • Hammer Drills
  • Sawing and Cutting Tools
  • Jigsaws
  • Reciprocating Saws
  • Circular Saws
  • Band Saws
  • Shears and Nibblers
  • Material Removal Tools
  • Sanders
  • Grinders
  • Routing tools
  • Others
  • Layout Tools
  • Laser Tools
  • Dust Extractors
  • Heat and Glue Guns
Market Segmentation by End-users
  • Industrial
  • Automotive
  • Aerospace
  • Electronics
  • Energy
  • Construction
  • Shipbuilding
  • Others
  • Commercial
  • Residential
Insights by Geography

The presence of large-scale industries such as automobiles, construction, electronics, and aerospace is driving the market in North America. With the growth in green building regulations, the rise in manual labor expenditure, and an increase in immigration, the demand for cordless power tools is expected to witness a surge during the forecast period. Europe is home to world-class manufacturing facilities. The UK, Germany, Italy, Spain, and France are the major cordless power tools markets in the region. Finland and Poland are expected to be promising markets for power devices owing to the increased industrial growth. The growing popularity of DIY in Europe is also expected to drive the demand for jigsaws and drillers.

Market Segmentation by Geography

  • Germany
  • Italy
  • UK
  • France
  • Spain
North America
  • US
  • Canada
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • South Africa
  • UAE
  • Saudi Arabia
  • Turkey
Latin America
  • Brazil
  • Mexico
Insights by Vendors

The global cordless power tools market is characterized by low market concentration, with high competition among players. The present scenario is driving vendors to alter and refine their unique value proposition to achieve a strong market presence. Currently, the market is moderately fragmented and is dominated by vendors such as Stanley Black & Decker, Bosch, and TTI. All these major vendors have a global presence in three major geographical regions - North America, APAC, and Europe. Several vendors are providing products at low prices. This is likely to intensify the price war among vendors during the forecast period. The market confronts the threat of infiltration with low-quality products from Chinese vendors. Major vendors continually compete among themselves for the leading position in the market, with occasional spurts of competition coming from other local vendors. The market is characterized by the presence of diversified global and regional vendors.

Key Vendors
  • Stanley Black & Decker
  • Robert Bosch
  • Techtronic Industries Company (TTI)
  • Makita
  • Hilti
Other Prominent Vendors
  • Atlas Copco
  • Apex Tool Group
  • Ingersoll Rand
  • Snap-on
  • Koki Holdings
  • Emerson
  • Panasonic
  • Fortive
  • Positec
  • Chervon
  • Fein
  • FERM
  • Uryu Seisaku
  • Interskol
  • Festool
  • CS Unitec
  • Dynabrade
  • Husqvarna
  • Blount
Key Market Insights
The analysis of the cordless power tools market provides sizing and growth opportunities for the period 2019–2025.
  • Offers sizing and growth prospects of the market for the forecast period 2020–2025.
  • Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
  • Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
  • Delivers a complete overview of segments and the regional outlook of the market.
  • Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.
Note: Product cover images may vary from those shown
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1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope Of The Study
4.4 Market Segments
4.4.1 Market Segmentation by Tool Type
4.4.2 Market Segmentation by End-User
4.4.3 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview

8 Market Opportunities & Trends
8.1 Rising Demand for Industrial Heat Guns
8.2 Increased Prominence of Asian Manufacturing
8.3 Industry 4.0 And Smart Precision Manufacturing

9 Market Growth Enablers
9.1 Advances in Li-Ion Batteries
9.2 Growth in DIY Activities
9.3 Growth in Use of Fasteners

10 Market Restraints
10.1 Low-Cost Labor In Developing Economies
10.2 Fluctuation In Raw Materials Prices
10.3 High End-User Variability

11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Impact of Covid-19 on The Market
11.4 Five Forces Analysis
11.4.1 Threat of New Entrants
11.4.2 Bargaining Power of Suppliers
11.4.3 Bargaining Power of Buyers
11.4.4 Threat of Substitutes
11.4.5 Competitive Rivalry

12 Tool Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview

13 Drilling and Fastening Tools
13.1 Market Snapshot & Growth Engine
13.2 Market Size & Forecast
13.3 Drills
13.3.1 Market Size & Forecast
13.3.2 Drills Market by Geography
13.4 Impact Drivers
13.4.1 Market Size & Forecast
13.4.2 Impact Drivers Market by Geography
13.5 Impact Wrenches
13.5.1 Market Size & Forecast
13.5.2 Impact Wrenches Market by Geography
13.6 Screwdrivers & Nut Runners
13.6.1 Market Size & Forecast
13.6.2 Screwdrivers & Nut Runners Market by Geography

14 Sawing And Cutting Tools
14.1 Market Snapshot & Growth Engine
14.2 Market Size & Forecast
14.3 Jigsaws
14.3.1 Market Size & Forecast
14.3.2 Jigsaw Market by Geography
14.4 Reciprocating Saws
14.4.1 Market Size & Forecast
14.4.2 Reciprocating Saws Market by Geography
14.5 Circular Saws
14.5.1 Market Size & Forecast
14.5.2 Circular Saws Market by Geography
14.6 Band Saw
14.6.1 Market Size & Forecast
14.6.2 Band Saws Market by Geography
14.7 Shears And Nibblers
14.7.1 Market Size & Forecast
14.7.2 Shears and Nibblers Market by Geography

15 Demolition Tools
15.1 Market Snapshot & Growth Engine
15.2 Market Size & Forecast
15.2.1 Demolition Tools Market by Geography
15.3 Demolition Hammer
15.3.1 Market Size & Forecast
15.3.2 Demolition Hammer Market by Geography
15.4 Rotary Hammer
15.4.1 Market Size & Forecast
15.4.2 Rotary Hammer Market by Geography
15.5 Hammer Drills
15.5.1 Market Size & Forecast
15.5.2 Hammer Drills Market by Geography

16 Material Removal Tools
16.1 Market Snapshot & Growth Engine
16.2 Market Size & Forecast
16.2.1 Material Removal Tools Market by Geography
16.3 Sanders
16.3.1 Market Size & Forecast
16.3.2 Sanders Market by Geography
16.4 Grinders
16.4.1 Market Size & Forecast
16.4.2 Grinders Market by Geography

17 Routing Tools
17.1 Market Size & Forecast
17.1.1 Routing Tools Market by Geography

18 Other Tools
18.1 Market Snapshot & Growth Engine
18.2 Market Size & Forecast
18.2.1 Market by Geography
18.3 Layout and Laser Tools
18.3.1 Market Size & Forecast
18.3.2 Layout & Laser Tools Market by Geography
18.4 Dust Extractors
18.4.1 Market Size & Forecast
18.4.2 Dust Extractors Market by Geography
18.5 Heat and Glue Guns
18.5.1 Market Size & Forecast
18.5.2 Heat & Glue Guns Market by Geography

19 End-User
19.1 Market Snapshot & Growth Engine
19.2 Market Overview

20 Industrial
20.1 Market Snapshot & Growth Engine
20.2 Market Size & Forecast
20.2.1 Industrial Power Tools Market by Geography
20.3 Automotive
20.3.1 Market Size & Forecast
20.3.2 By Geography
20.4 Aerospace
20.4.1 Market Size & Forecast
20.4.2 By Geography
20.5 Electronics
20.5.1 Market Size & Forecast
20.5.2 By Geography
20.6 Energy
20.6.1 Market Size & Forecast
20.6.2 By Geography
20.7 Construction
20.7.1 Market Size & Forecast
20.7.2 By Geography
20.8 Shipbuilding
20.8.1 Market Size & Forecast
20.8.2 By Geography
20.9 Other Industry
20.9.1 Market Size & Forecast
20.9.2 By Geography

21 Commercial
21.1 Market Overview
21.1.1 Commercial Power Tools Market by Geography

22 Residential
22.1 Market Overview
22.1.1 Residential Power Tools Market by Geography (Revenue)

23 Geography
23.1 Geography Snapshot & Growth Engine
23.2 Geography Overview

24 North America
24.1 Market Overview
24.2 Market Size & Forecast
24.3 Segmentation by Tool Type
24.3.1 North America Market by Tool Type
24.4 Segmentation by End-User
24.4.1 North America Market by End-User
24.5 Key Countries Snapshot
24.5.1 US: Market Size & Forecast
24.5.2 Canada: Market Size & Forecast

25 Europe
25.1 Market Overview
25.2 Market Size & Forecast
25.3 Segmentation by Tool
25.3.1 Europe Market by Tool
25.4 Segmentation by End-User
25.4.1 Europe Market by End User
25.5 Key Countries Snapshot
25.5.1 UK: Market Size & Forecast
25.5.2 Germany: Market Size & Forecast
25.5.3 France: Market Size & Forecast
25.5.4 Spain: Market Size & Forecast
25.5.5 Italy: Market Size & Forecast

26.1 Market Overview
26.2 Market Size & Forecast
26.3 Segmentation by Tool Type
26.3.1 APAC Market by Tool Type
26.4 Segmentation By End-User Type
26.4.1 APAC Market by End User Type
26.5 Key Countries Snapshot
26.5.1 China: Market Size & Forecast
26.5.2 Japan: Market Size & Forecast
26.5.3 South Korea: Market Size & Forecast
26.5.4 Australia: Market Size & Forecast
26.5.5 India: Market Size & Forecast

27 Latin America
27.1 Market Overview
27.2 Market Size & Forecast
27.3 Segmentation by Tool Type
27.3.1 Latin America Market by Tool Type
27.4 Segmentation by End-User
27.4.1 Latin America Market by End-User
27.5 Key Countries Snapshot
27.5.1 Brazil: Market Size & Forecast
27.5.2 Mexico: Market Size & Forecast

28 Middle East & Africa
28.1 Market Overview
28.2 Market Size & Forecast
28.3 Segmentation by Tool Type
28.3.1 Middle East & Africa Market by Tool Type
28.4 Segmentation by End-User
28.4.1 Middle East & Africa Market by End User
28.5 Key Countries Snapshot
28.5.1 South Africa: Market Size & Forecast
28.5.2 Saudi Arabia: Market Size & Forecast
28.5.3 UAE: Market Size & Forecast
28.5.4 Turkey: Market Size & Forecast

29 Competitive Landscape
29.1 Competitive Scenario

30 Key Vendors
30.1 Stanley Black & Decker
30.1.1 Overview
30.1.2 Products Offerings
30.1.3 Key Strengths
30.1.4 Key Strategies
30.1.5 Key Opportunities
30.2 Robert Bosch
30.2.1 Overview
30.2.2 Products Offerings
30.2.3 Key Strengths
30.2.4 Key Strategies
30.2.5 Key Opportunities
30.3 Techtronic Industries Company
30.3.1 Overview
30.3.2 Products Offerings
30.3.3 Key Strengths
30.3.4 Key Strategies
30.3.5 Key Opportunities
30.4 Makita
30.4.1 Overview
30.4.2 Products Offerings
30.4.3 Key Strengths
30.4.4 Key Strategies
30.4.5 Key Opportunities
30.5 Hilti
30.5.1 Overview
30.5.2 Products Offerings
30.5.3 Key Strengths
30.5.4 Key Strategies
30.5.5 Key Opportunities

31 Other Prominent Vendors
31.1 Atlas Copco
31.1.1 Overview
31.1.2 Products Offerings
31.2 Apex Tool Group
31.2.1 Overview
31.2.2 Products Offerings
31.3 Ingersoll Rand
31.3.1 Overview
31.3.2 Products Offerings
31.4 Snap On
31.4.1 Overview
31.4.2 Products Offerings
31.5 Koki Holdings
31.5.1 Overview
31.5.2 Products Offerings
31.6 Emerson
31.6.1 Overview
31.6.2 Products Offerings
31.7 Panasonic
31.7.1 Overview
31.7.2 Products Offerings
31.8 Fortive
31.8.1 Overview
31.8.2 Products Offerings
31.9 Positec
31.9.1 Overview
31.9.2 Products Offerings
31.10 Chervon
31.10.1 Overview
31.10.2 Products Offerings
31.11 FEIN
31.11.1 Overview
31.11.2 Products Offerings
31.12 FERM
31.12.1 Overview
31.12.2 Products Offerings
31.13 AIMCO
31.13.1 Overview
31.13.2 Products Offerings
31.14 Uryu Seisaku
31.14.1 Overview
31.14.2 Products Offerings
31.15 Interskol
31.15.1 Overview
31.15.2 Products Offerings
31.16 Festool
31.16.1 Overview
31.16.2 Products Offerings
31.17 Kyocera
31.17.1 Overview
31.17.2 Products Offerings
31.18 CS Unitec
31.18.1 Overview
31.18.2 Products Offerings
31.19 Dynabrade
31.19.1 Overview
31.19.2 Products Offerings
31.20 Husqvarna
31.20.1 Overview
31.20.2 Products Offerings
31.21 STIHL
31.21.1 Overview
31.21.2 Products Offerings
31.22 Blount
31.22.1 Overview
31.22.2 Products Offerings

32 Report Summary
32.1 Key Takeaways
32.2 Strategic Recommendations

33 Quantitative Summary
33.1 Tool Type
33.1.1 Drilling and Fastening Tools Market
33.1.2 Sawing and Cutting Tools Market
33.1.3 Demolition Tools Market
33.1.4 Material Removal Tools Market
33.1.5 Routing Tools Market
33.1.6 Other Tools Market
33.2 End-User
33.2.1 Industrial Power Tools Market
33.2.2 Commercial Power Tools Market
33.2.3 Residential Power Tools Market
33.3 Geography
33.4 North America
33.4.1 North America Market by Tool Type
33.4.2 North America Market by End-User
33.5 Europe
33.5.1 Europe Market by Tool Type
33.5.2 Europe Market by End-User
33.6 APAC
33.6.1 APAC Market by Tool Type
33.6.2 APAC Market by End-User
33.7 Latin America
33.7.1 Latin America Market by Tool Type
33.7.2 Latin America Market by End-User
33.8 Middle East & Africa
33.8.1 Middle East & Africa Market by Tool Type
33.8.2 Middle East & Africa Market by End-User

34 Appendix
34.1 Abbreviations
Note: Product cover images may vary from those shown
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  • Stanley Black & Decker
  • Robert Bosch
  • Techtronic Industries Company (TTI)
  • Makita
  • Hilti
  • Atlas Copco
  • Apex Tool Group
  • Ingersoll Rand
  • Snap-on
  • Koki Holdings
  • Emerson
  • Panasonic
  • Fortive
  • Positec
  • Chervon
  • Fein
  • FERM
  • Uryu Seisaku
  • Interskol
  • Festool
  • CS Unitec
  • Dynabrade
  • Husqvarna
  • Blount
Note: Product cover images may vary from those shown
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Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.