Cordless Power Tools Market Size to grow by USD 3767.5 million between 2024-2028
According to a research report “ Cordless Power Tools Market” by End-user (Professional, Consumer) Type (Brushed motors, Brushless motors) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3767.5 million, at a CAGR of 3.78% during the forecast period. In the realm of power tools, cordless models equipped with rechargeable batteries have gained significant traction, finding applications in various industries such as construction, manufacturing, and material handling. The global cordless power tools market is anticipated to experience robust growth during the forecast period, primarily driven by the increasing adoption of batteries as a power source. Among the various battery types utilized in cordless power tools, lithium-ion (Li-ion) batteries have emerged as the preferred choice due to their distinct advantages. Li-ion batteries offer several benefits over other battery types, including lighter weight, higher energy density, and superior resistance to temperature damage. Furthermore, Li-ion batteries do not exhibit memory and self-discharge effects, which are common in nickel-metal hydride (NiMH) and nickel-cadmium (NiCd) batteries. Additionally, Li-ion batteries boast the longest rechargeable and charge life, making them an economically viable option for power tool users. The flexibility of Li-ion batteries, which are not confined to any specific design or shape, is another significant advantage. These factors, combined with the disadvantages associated with other battery types, have led to the increasing preference for Li-ion batteries in power tools. As a result, the demand for Li-ion battery-powered cordless power tools is expected to surge, fueling the growth of the global cordless power tools market..
Browse market data tables, figures, and in-depth TOC on “Cordless Power Tools Market” by End-user (Professional, Consumer) Type (Brushed motors, Brushless motors) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By End-user, the Professional segment is projected to dominate the market size in 2024
The cordless power tools market is experiencing significant growth due to the increasing demand for portable and efficient power tools. These tools offer the benefits of freedom from cords, increased mobility, and reduced maintenance costs. Key players in the market include Bosch, DeWalt, Makita, and Milwaukee Electric Tool, who are investing heavily in research and development to launch innovative products. The market is expected to continue its robust growth trajectory, driven by advancements in battery technology and the expanding construction and manufacturing industries.
By Type, Brushed motors segment is expected to hold the largest market size for the year 2024
The cordless power tools market is experiencing significant growth due to the increasing demand for portable and efficient tools. Key players in this industry are investing heavily in research and development to launch innovative products that offer superior performance and longer battery life. The shift towards cordless solutions is gaining momentum, particularly in applications where mobility and convenience are paramount. Market size is projected to expand at a robust CAGR, driven by rising construction activities, increasing DIY projects, and growing preference for cordless tools over their wired counterparts.
North America is forecasted to hold the largest market size by region in 2024
The cordless power tools market is experiencing significant growth due to the increasing demand for portable and efficient tools. These tools offer the convenience of cordless operation, enabling users to work in remote locations without the restriction of power cords. Key players in this market are investing in advanced battery technologies to enhance tool performance and longevity. The market is expected to continue its upward trajectory, driven by the construction, manufacturing, and DIY sectors.
The Cordless Power Tools Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
Cordless power tools have revolutionized the way we approach DIY projects, residential, and commercial activities. Motor type and tool type are essential considerations when choosing cordless power tools. Brushless motors offer more efficiency and longer battery life, while brushed motors are more affordable and suitable for manual labor tasks. The cordless power tools market is expanding, driven by the DIY culture and the increasing popularity of electric vehicles (EVs) and battery-operated equipment. Home Depot and other retailers offer a wide range of cordless power tools, from NiCd batteries to the more advanced Lithium-ion batteries. The electrical system of cordless power tools is another critical factor. Brushless motors are increasingly common in cordless power tools due to their efficiency and long battery life. DIY projects, material removal tools, and other residential and commercial activities benefit from the convenience and portability of cordless power tools. Silicon Labs, a leading provider of microcontrollers and wireless technology, is also making strides in the cordless power tools market. The company's wireless charging solutions and energy harvesting technology are game-changers for the industry. In summary, cordless power tools offer a more efficient and convenient alternative to traditional power tools. Motor type, tool type, battery technology, and electrical system are essential considerations when choosing cordless power tools for DIY projects, residential activities, or commercial activities.
Market Research Overview
The cordless power tools market is experiencing significant growth due to the increasing popularity of renovation activities and DIY projects among homeowners. This market includes a wide range of tools such as wrenches, drillers, nut runners, screwdrivers, impact wrenches, drills, routing tools, and demolition tools. Precision parts, heat guns, and other specialized tools are also part of this market. Industrial end users, particularly in manufacturing and construction industries, are also major consumers of cordless power tools. The choice between tool types, such as brushless motors or brushed motors, and motor types, such as NiCd batteries or lithium-ion batteries, depends on the specific application and budget. The rise of DIY culture, home improvement shows, and e-communication devices have made it easier than ever for individuals to take on renovation projects. Home Depot and other retailers offer a wide selection of cordless power tools, making them accessible to both residential and commercial activities. Manual labor is being replaced by cordless power tools in various applications, from material removal tools to drilling and screwdriving. The electrical system of cordless power tools is becoming more advanced, with the integration of brushless motors and lithium-ion batteries. Silicon Labs and other technology companies are innovating in this space, providing more efficient and powerful solutions for the cordless power tools market. Cordless power tools are also finding applications in new areas, such as electric vehicles (EVs), where they are used for manufacturing and maintenance. The future of cordless power tools looks bright, with continued innovation and advancements in technology driving growth in this market.
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