Latest News- Cordless Power Tools Market: Professional is expected to lead the End-user segment during 2025-2029

The Cordless Power Tools Market is being driven by Advances in battery technology

The Cordless Power Tools Market is expected to grow at a CAGR of 3.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 4014 million. The United States and China are leading markets for the next-generation vehicle technology revolution, with significant growth observed in the sales of plug-in hybrid electric vehicles (PHEVs). In the US, automotive manufacturers are introducing advanced EV models, spurred by financial incentives and research and development initiatives. In 2005, PHEV sales were 50.1 thousand units, increasing to 79 thousand units by November 2022. China's EV market exhibits immense potential, fueled by supportive government subsidies and advancements in battery technology. Both countries aim to reduce their reliance on petroleum products and establish themselves as global leaders in next-generation vehicle technologies. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Professional
  • Consumer
• Type
  • Brushed motors
  • Brushless motors
• Distribution Channel
  • Offline
  • Online
• Product Type
  • Drilling and fastening tools
  • Sawing and cutting tools
  • Material removal tools
  • Garden tools
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Advances in battery technology
• Growth in production of light vehicles
• DIY concept gaining momentum in developed countries

However, the market also witnesses some limitations, which are as follows:

• Decline in construction and automobile industries in China
• Uncertainties in global economic growth
• Safety concerns related to Li-ion batteries

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Market Scope in Cordless Power Tools Market Research Report

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Research Analysis Overview

The Cordless Power Tools Market encompasses battery-operated equipment for material removal, including power drills, saws, impact drivers, sanders, and screwdrivers. With the rise of DIY culture, demand for these tools has surged, led by brands like Silicon Labs and Home Depot. Brushless motors and lithium-ion batteries power high-performance tools, offering energy efficiency, improved torque control, and longer runtimes versus brushed motors and NiCd batteries. Commercial, residential, and DIY activities all benefit from these tools' cutting-edge technology, ergonomics, and increased energy efficiency. Cordless nailers, electric screwdrivers, and power tool accessories are also part of this market, with charging stations ensuring optimal tool performance. The integration of cordless power tools in commercial and residential activities, DIY projects, and even electric vehicles, signifies a shift from manual labor towards more efficient and powerful battery-operated equipment.

Market Research Overview

The cordless power tools market is a significant segment of the larger global electrical components and equipment market. This market encompasses companies specializing in the manufacturing and sales of cordless material removal tools. The electrical components and equipment market, as a whole, includes revenue from various sectors such as water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Furthermore, the market size is determined by the combined revenue generated from the manufacturing and rental or leasing of these electrical components and equipment to industrial, commercial, and residential end-users.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/