According to Goldstein Research, “Advancement in cordless technology and growing shift towards light weight power tools driving the growth of global cordless power tools market." Cordless tools are the fastest growing segment of power tools industry. Innovation in battery technology reduced the size of tools and offers high power density and longer running duration. Some of the leading market players are providing most accurate, technologically advanced and economical tools in the market. The global cordless power tools market segmentation has been carried out on the basis of product, power output and end users. End users are further bifurcated into professional and consumer. The demand by the professionals accounts for more than two third of the total market. The three major professional industries are construction, automotive and manufacturing industries which are the major factors for the growth of this segment. Global cordless power tools market is expected to gain traction over the forecast period due to ease of use and performance advantages. Further, the market is projected to expand at a CAGR of 4.8 % over the forecast period i.e. 2016-2024. Asia-Pacific is the fastest growing region for cordless power tools market in 2016 and is expected to surpass Europe over the forecast period of 2016-2024. Asia-Pacific cordless power tools market valued USD 3.2 billion in 2016 and is estimated to reach USD 10.7 billion by 2024. Growing automotive industry and construction sector in the region is expected to drive the growth of cordless power tools market in Asia-Pacific.
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Market Segmentation
• By Product Type
o Drills
o Impact Drivers
o Impact Wrenches
o Reciprocating Saws
o Polisher/Sander
o Other (Adhesive Dispensers etc.)
• By Power Output
o 7v-15v
o 12v-18v
o 18v-36v
• By End Users
o Professional
o Consumer
• By Geography
o North America (US, Canada)
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific)
o Rest of the World
“Global Cordless Power Tools Market Outlook 2024” contains detailed overview of the global cordless power tools market in terms of market segmentation by product type, by power output type and by end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Cordless Power Tools Market Report also provides competitive outlook of some of the major players which includes profiling of companies such Makita, Robert Bosch, Stanley Black & Decker, Atlas Copco, Hilti, Hitachi Koki, Husqvarna, Snap-on, Milwaukee Tools etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents cordless power tools market trends that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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