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Power Tool Accessories Market - Global Outlook & Forecast 2023-2028

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  • 345 Pages
  • March 2023
  • Region: Global
  • Arizton
  • ID: 5750183
UP TO OFF until Jun 30th 2024
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The global power tool accessories market size is expected to grow at a CAGR of 5.98% from 2022 to 2028.


The impact of COVID-19 was also seen in the power tools and the power tools accessories industry, as both markets saw major downfalls leading to plunging sales numbers. The sales went down as the demand for these tools and their accessories also plummeted. The supply chain for raw materials was highly disturbed.

The construction industry, one of the most important industries that make use of and demand power tools and their accessories, was more or less completely shut, which had an immediate negative effect on the power tools and power tool accessories market. However, the restrictions were lifted as the pandemic got under control and the situation got better; the infrastructural projects were resumed, which stirred the demand for power tools once again, meanwhile also driving the demand for the power tool accessories market. The automobile industry also saw the demand increase for automobiles, thus driving the demand for machines and equipment, including power tools and accessories.


Growth In The Construction Industry

The world is witnessing new developments and market trends in the construction industry. Technological transformation is a major factor influencing growth, and significant changes have been deployed throughout the industry, from design to installation. While building projects are becoming more complex, stringent policies governing employee safety, utilizing advanced precision tools, energy efficiency, and enhancing productivity are some of the major concerns. Growth can be more concentrated in the real estate and residential sectors, which are highly supported by low-interest rates and higher incomes. The growing population, rising demand for public construction activities, and rising investments in renewables and telecommunications are expected to fuel the growth in the construction industry during the forecast period, stimulating the demand of the global power tool accessories market.

Increasing Infrastructural Projects

Power tools and power tool accessories are used for all types of construction projects, namely low rises, high rises, mass townships, etc. In many countries, governments are taking initiatives to provide affordable housing. The rising number of residential building construction is expected to drive the demand for power tools leading to the demand for power tool accessories. The current labor shortage crisis is paving the way for growth in adopting sophisticated and advanced power tools. With the cheap labor in countries like India and China, the growing number of infrastructure projects is expected to drive the adoption of power tools and boost the global power tool accessories market. Further, in the growing economies of APAC and Latin America, urbanization, a growing middle-class population, and growth in domestic and regional economic conditions are indirectly paving the way for construction, thereby driving the adoption of more advanced tools and accessories.

Rising Applications of Fastening Tools

A fastener is a hardware component used globally for affixing joints with two or more objects in general. Fasteners are increasingly used in aerospace, building and construction, automotive, furniture, motors, and pumps. Some commonly used fasteners include nails, screws, bolts, clamps, tapping screws, set screws, and studs. With the rise in the usage of fasteners, the preference for fastening tools for assembly is expected to surge, which can further drive the market for accessories such as a screwdriver, routers, and drill bits.


Fluctuations In Raw Material Pricing

Raw material costs comprise approximately 50% to 60% of the overall cost of production in the power tools industry. The prices of primary raw materials used to manufacture power tools and their accessories, such as steel, plastic, rubber, fasteners, and batteries, have been volatile over the last few years. The volatility of raw material prices poses a severe threat to vendor margins. Other operating expenses, such as labor wages, also sharply increase. Chinese manufacturers add more worries to the company’s top line to comply with growing demands and industry standards. These factors burden vendors that strive to produce efficient power tools and accessories at affordable prices to cope with the competition in the power tool accessories market.



In 2022, the offline distribution channel dominated the power tool accessories market and accounted for a revenue share of 66.23%. This segment is expected to witness an incremental growth of USD 4.07 billion during the forecast period. Factors such as high customer preference to comprehend the functionalities and uses of the product before making the final purchase decision propel the segment growth. Moreover, since power tool accessories have very specific usage and purpose, the preference for the offline channel is high to minimize the risk of receiving incompatible products. Although the online channel holds a relatively low global power tool accessories market share, it is expected to grow at a higher CAGR of 6.48% during the forecast period.

Segmentation by Distribution Channel

  • Offline
  • Online


Based on the accessory type, the drill bits accounted for the most significant revenue, which generated USD 2.1 billion in 2022 and is expected to reach USD 3.0 billion by 2028, growing at a CAGR of 5.48% in the global power tool accessories market. The volume of work carried out by corded and battery-operated drills have also penetrated DIY enthusiast, which can demand more replacement with the intensity of the workload.

Segmentation by Accessory Type

  • Drill Bits
  • Circular Saw Blades
  • Batteries
  • Screwdriver Bits
  • Reciprocating Saw Blades
  • Jig Saw Blades
  • Band Saw Blades
  • Abrasive Wheels
  • Router Bits
  • Others


The industrial end-user segment, consisting of major contributors such as the automotive and construction industries, generated the maximum revenue in the global power tool accessories market in 2022. The scenario is expected to remain consistent throughout the forecast period owing to the rising demand for sophisticated tools and the growth in precision manufacturing. However, renovations, retrofits, and DIY activities are expected to drive the market for power tool accessories in the residential and commercial segments. The growth can also be more evident from APAC, Latin America, and the Middle East & Africa.

Segmentation by End User

  • Industrial
  • Energy
  • Construction
  • Aerospace
  • Automotive
  • Electronics
  • Shipbuilding
  • Others
  • Commercial
  • Residential


APAC accounted for the largest power tool accessories market, with a share of 29.57% in 2022. Large-scale industries, such as automobiles, construction, electronics, and aerospace, drive the region's Li-ion-operated power tools market. Further, the region being home to several industries, including manufacturing, services, automobiles, and electrical industries, has a constant need for power tools, especially fasteners and drillers. The region holds a strong manufacturing sector due to its easy labor availability. Further, huge expenses are incurred on innovation and new technology in countries like Japan. The trial and adoption of new products are also comparatively high due to knowledge and awareness of science. This facilitates people to try new tools and equipment, such as cordless power tools.

Segmentation by Geography

  • North America
  • US
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • APAC
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of APAC
  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • Saudi Africa
  • Saudi Arabia
  • UAE
  • Turkey
  • Rest of the Middle East & Africa


The global power tool accessories market is characterized by low market concentration, with high competition among the players. The present scenario drives vendors to alter and refine their unique value propositions to achieve a strong market presence. Currently, the power tool accessories market is highly fragmented and is dominated by vendors such as Stanley Black & Decker, Bosch, and TTI, alongside numerous domestic tool manufacturers. These major vendors have a global presence in three major regions - North America, APAC, and Europe.

Key Company Profiles

  • Stanley Black & Decker
  • Bosch
  • Techtronic Industries Company (TTI)
  • Makita
  • Hilti

Other Prominent Vendors

  • Apex Tool Group
  • Snap On
  • Koki Holdings
  • Fortive
  • Positec
  • Chervon
  • Fein
  • FERM
  • Festool
  • CS Unitec
  • Dynabrade
  • Husqvarna
  • Stihl
  • Blount
  • Panasonic
  • Atlas Copco
  • Ingersoll Rand
  • Emerson


1. How big is the global power tool accessories market?
2. What is the growth rate of the global power tool accessories market?
3. Who are the key players in the global power tool accessories market?
4. What are the key driving factors in the power tool accessories market?
5. Which region dominates the global power tool accessories market share?

Table of Contents

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.3.2 Market Segmentation by Distribution Channel
4.3.3 Market Segmentation by Accessory Type
4.3.4 Market Segmentation by End-user
4.3.5 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 Premium Insights
7.1 Report Overview
7.2 Impact of Covid-19 and Analysis
7.3 Opportunity & Challenge Analysis
7.4 Segment Analysis
7.5 Regional Analysis
7.6 Competitive Landscape

8 Introduction
8.1 Overview
8.2 Value Chain Analysis
8.2.1 Raw Materials & Component Suppliers
8.2.2 Manufacturers
8.2.3 Dealers/Distributors
8.2.4 Retailers
8.2.5 End-users
8.3 Unrest in Europe
8.4 Looming Global Recession
8.5 Emerging Market Scenario During Post-Covid-19 Era
8.6 Frequently Asked Questions
8.6.1 What Will Be the Growth Rate of the Global Power Tool Accessories Market During the Forecast Period?
8.6.2 What Are the Major Growth Barriers for the Global Power Tool Accessories Market?
8.6.3 What is the State of the Regional Power Tool Accessories Markets Worldwide?
8.6.4 is Purchasing a Power Tool Accessory More Cost-Effective Than Using a Power Tool?

9 Market Opportunities & Trends
9.1 Growing Prominence of Asian Manufacturing
9.2 Industry 4.0 & Smart Precision Manufacturing
9.3 Exponential Growth of Construction Industry
9.4 Surge in Demand for Prefabricated Buildings
9.5 Rise in Wind & Solar Energy Installations

10 Market Growth Enablers
10.1 Advances in Li-Ion Battery Technology
10.2 Rise in Home Improvement & Diy Projects
10.3 Surge in Applications of Fastening Tools
10.4 Rise in Number of Infrastructure Development Projects

11 Market Restraints
11.1 High Availability of Hand Tools and Low-Cost Labor
11.2 Fluctuations in Raw Material Pricing
11.3 End-User Variability

12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
12.3.1 Threat of New Entrants
12.3.2 Bargaining Power of Suppliers
12.3.3 Bargaining Power of Buyers
12.3.4 Threat of Substitutes
12.3.5 Competitive Rivalry

13 Accessory Type
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Drill Bits
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Market by Geography
13.4 Screwdriver Bits
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Market by Geography
13.5 Router Bits
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.5.3 Market by Geography
13.6 Circular Saw Blades
13.6.1 Market Overview
13.6.2 Market Size & Forecast
13.6.3 Market by Geography
13.7 Jigsaw Blades
13.7.1 Market Overview
13.7.2 Market Size & Forecast
13.7.3 Market by Geography
13.8 Band Saw Blades
13.8.1 Market Overview
13.8.2 Market Size & Forecast
13.8.3 Market by Geography
13.9 Abrasive Wheels
13.9.1 Market Overview
13.9.2 Market Size & Forecast
13.9.3 Market by Geography
13.10 Reciprocating Saw Blades
13.10.1 Market Overview
13.10.2 Market Size & Forecast
13.10.3 Market by Geography
13.11 Batteries
13.11.1 Market Overview
13.11.2 Market Size & Forecast
13.11.3 Market by Geography
13.12 Others
13.12.1 Market Overview
13.12.2 Market Size & Forecast
13.12.3 Market by Geography

14 End-user
14.1 Market Snapshot & Growth Engine
14.2 Market Overview

15 Industrial
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.2.1 Market Size & Forecast
15.2.2 Market by Geography
15.3 Construction
15.3.1 Market Overview
15.3.2 Emerging Market Scenario After Covid-19
15.3.3 Market Size & Forecast
15.3.4 Market by Geography
15.4 Automotive
15.4.1 Market Overview
15.4.2 Emerging Market Scenario After Covid-19
15.4.3 Market Size & Forecast
15.4.4 Market by Geography
15.5 Aerospace
15.5.1 Market Overview
15.5.2 Emerging Market Scenario After Covid-19
15.5.3 Market Size & Forecast
15.5.4 Market by Geography
15.6 Electronics
15.6.1 Market Overview
15.6.2 Emerging Market Scenario After Covid-19
15.6.3 Market Size & Forecast
15.6.4 Market by Geography
15.7 Energy
15.7.1 Market Overview
15.7.2 Emerging Market Scenario After Covid-19
15.7.3 Market Size & Forecast
15.7.4 Market by Geography
15.8 Shipbuilding
15.8.1 Market Overview
15.8.2 Emerging Market Scenario After Covid-19
15.8.3 Market Size & Forecast
15.8.4 Market by Geography
15.9 Other Industries
15.9.1 Market Overview
15.9.2 Market Size & Forecast
15.9.3 Market by Geography

16 Commercial
16.1 Market Overview
16.2 Emerging Market Scenario After Covid-19
16.3 Market Size and Forecast
16.4 Market by Geography

17 Residential
17.1 Market Overview
17.2 Emerging Market Scenario After Covid-19
17.3 Market Size and Forecast
17.4 Market by Geography

18 Distribution Channel
18.1 Market Snapshop & Growth Engine
18.2 Market Overview
18.3 Offline
18.3.1 Market Size & Forecast
18.3.2 Dealers and Distributors
18.3.3 Specialty Stores
18.3.4 Mass Market Players
18.3.5 Market by Geography
18.4 Online
18.4.1 Market by Geography

19 Geography
19.1 Market Snapshot & Growth Engine
19.2 Geographic Overview

20 Apac
20.1 Market Overview
20.2 Emerging Market Scenario After Covid-19
20.3 Market Size & Forecast
20.4 Accessory Type
20.4.1 Market Size & Forecast
20.5 End-user
20.5.1 Market Size & Forecast
20.6 Distribution Channel
20.6.1 Market Size & Forecast
20.7 Key Countries
20.7.1 China: Market Size & Forecast
20.7.2 India: Market Size & Forecast
20.7.3 Japan: Market Size & Forecast
20.7.4 South Korea: Market Size & Forecast
20.7.5 Australia: Market Size & Forecast
20.7.6 Rest of Apac: Market Size & Forecast

21 North America
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Emerging Market Scenario After Covid-19
21.4 Distribution Channel
21.4.1 Market Size & Forecast
21.5 Accessory Type
21.5.1 Market Size & Forecast
21.6 End-user
21.6.1 Market Size & Forecast
21.7 Key Countries
21.7.1 Us: Market Size & Forecast
21.7.2 Canada: Market Size & Forecast

22 Europe
22.1 Market Overview
22.2 Emerging Market Scenario After Covid-19
22.3 Market Size & Forecast
22.4 Accessory Type
22.4.1 Market Size & Forecast
22.5 End-user
22.5.1 Market Size & Forecast
22.6 Distribution Channel
22.6.1 Market Size & Forecast
22.7 Key Countries
22.7.1 Uk: Market Size & Forecast
22.7.2 Germany: Market Size & Forecast
22.7.3 France: Market Size & Forecast
22.7.4 Russia: Market Size & Forecast
22.7.5 Spain: Market Size & Forecast
22.7.6 Italy: Market Size & Forecast
22.7.7 Rest of Europe: Market Size & Forecast

23 Latin America
23.1 Market Overview
23.2 Emerging Market Scenario After Covid-19
23.3 Market Size & Forecast
23.4 Distribution Channel
23.4.1 Market Size & Forecast
23.5 Accessory Type
23.5.1 Market Size & Forecast
23.6 End-user
23.6.1 Market Size & Forecast
23.7 Key Countries
23.7.1 Brazil: Market Size & Forecast
23.7.2 Mexico: Market Size & Forecast
23.7.3 Rest of Latin America: Market Size & Forecast

24 Middle East & Africa
24.1 Market Overview
24.2 Emerging Market Scenario After Covid-19
24.3 Market Size & Forecast
24.4 Distribution Channel
24.4.1 Market Size & Forecast
24.5 Accessory Type
24.5.1 Market Size & Forecast
24.6 End-user
24.6.1 Market Size & Forecast
24.7 Key Countries
24.7.1 South Africa: Market Size & Forecast
24.7.2 Saudi Arabia: Market Size & Forecast
24.7.3 Uae: Market Size & Forecast
24.7.4 Turkey: Market Size & Forecast
24.7.5 Rest of Middle East & Africa: Market Size & Forecast

25 Competitive Landscape
25.1 Competition Overview

26 Key Company Profiles
26.1 Stanley Black & Decker
26.1.1 Business Overview
26.1.2 Product Offerings
26.1.3 Key Strengths
26.1.4 Key Strategies
26.1.5 Key Opportunities
26.2 Bosch
26.2.1 Business Overview
26.2.2 Product Offerings
26.2.3 Key Strengths
26.2.4 Key Strategies
26.2.5 Key Opportunities
26.3 Techtronic Industries (Tti)
26.3.1 Business Overview
26.3.2 Product Offerings
26.3.3 Key Strengths
26.3.4 Key Strategies
26.3.5 Key Opportunities
26.4 Makita
26.4.1 Business Overview
26.4.2 Product Offerings
26.4.3 Key Strengths
26.4.4 Key Strategies
26.4.5 Key Opportunities
26.5 Hilti
26.5.1 Business Overview
26.5.2 Product Offerings
26.5.3 Key Strengths
26.5.4 Key Strategies
26.5.5 Key Opportunities

27 Other Prominent Vendors
27.1 Apex Tool Group
27.1.1 Business Overview
27.1.2 Product Offerings
27.2 Snap On
27.2.1 Business Overview
27.2.2 Product Offerings
27.3 Koki Holdings
27.3.1 Business Overview
27.3.2 Product Offerings
27.4 Fortive
27.4.1 Business Overview
27.4.2 Product Offerings
27.5 Positec
27.5.1 Business Overview
27.5.2 Product Offerings
27.6 Chervon
27.6.1 Business Overview
27.6.2 Product Offerings
27.7 Fein
27.7.1 Business Overview
27.7.2 Product Offerings
27.8 Ferm
27.8.1 Business Overview
27.8.2 Product Offerings
27.9 Aimco
27.9.1 Business Overview
27.9.2 Product Offerings
27.10 Festool
27.10.1 Business Overview
27.10.2 Product Offerings
27.11 Cs Unitec
27.11.1 Business Overview
27.11.2 Product Offerings
27.12 Dynabrade
27.12.1 Business Overview
27.12.2 Product Offerings
27.13 Husqvarna
27.13.1 Business Overview
27.13.2 Product Offerings
27.14 Stihl
27.14.1 Business Overview
27.14.2 Product Offerings
27.15 Blount
27.15.1 Business Overview
27.15.2 Product Offerings
27.16 Kyocera
27.16.1 Business Overview
27.16.2 Product Offerings
27.17 Interskol
27.17.1 Business Overview
27.17.2 Product Offerings
27.18 Panasonic
27.18.1 Business Overview
27.18.2 Product Offerings
27.19 Uryu Seisaku
27.19.1 Business Overview
27.19.2 Product Offerings
27.20 Atlas Copco
27.20.1 Business Overview
27.20.2 Product Offerings
27.21 Ingersoll Rand
27.21.1 Business Overview
27.21.2 Product Offerings
27.22 Emerson
27.22.1 Business Overview
27.22.2 Product Offerings

28 Report Summary
28.1 Key Takeaways
28.2 Strategic Recommendations

29 Quantitative Summary
29.1 Market by Geography
29.2 Distribution Channel
29.2.1 Market Size & Forecast
29.2.2 Offline Channel
29.2.3 Online Channel
29.3 Accessory Type
29.3.1 Market Size & Forecast
29.3.2 Drill Bits
29.3.3 Screwdriver Bits
29.3.4 Router Bits
29.3.5 Circular Saw Blades
29.3.6 Jigsaw Blades
29.3.7 Band Saw Blades
29.3.8 Abrasive Wheels
29.3.9 Reciprocating Saw Blades
29.3.10 Batteries
29.3.11 Other Accessory Types
29.4 End-user
29.4.1 Market Size & Forecast
29.4.2 Industrial
29.4.3 Construction
29.4.4 Automotive
29.4.5 Aerospace
29.4.6 Electronics
29.4.7 Energy
29.4.8 Shipbuilding
29.4.9 Other End-users
29.4.10 Commercial
29.4.11 Residential
29.5 Apac
29.5.1 Distribution Channel: Market Size & Forecast
29.5.2 Accessory Type: Market Size & Forecast
29.5.3 End-user: Market Size & Forecast
29.6 North America
29.6.1 Distribution Channel: Market Size & Forecast
29.6.2 Accessory Type: Market Size & Forecast
29.6.3 End-user: Market Size & Forecast
29.7 Europe
29.7.1 Distribution Channel: Market Size & Forecast
29.7.2 Accessory Type: Market Size & Forecast
29.7.3 End-user: Market Size & Forecast
29.8 Latin America
29.8.1 Distribution Channel: Market Size & Forecast
29.8.2 Accessory Type: Market Size & Forecast
29.8.3 End-user: Market Size & Forecast
29.9 Middle East & Africa
29.9.1 Distribution Channel: Market Size & Forecast
29.9.2 Accessory Type: Market Size & Forecast
29.9.3 End-user: Market Size & Forecast

30 Appendix
30.1 Abbreviations

Companies Mentioned

  • Stanley Black & Decker
  • Bosch
  • Techtronic Industries Company (TTI)
  • Makita
  • Hilti
  • Apex Tool Group
  • Snap On
  • Koki Holdings
  • Fortive
  • Positec
  • Chervon
  • Fein
  • FERM
  • Festool
  • CS Unitec
  • Dynabrade
  • Husqvarna
  • Stihl
  • Blount
  • Panasonic
  • Atlas Copco
  • Ingersoll Rand
  • Emerson


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.



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