Latest News- Portable Power Tools Market: Cordless tools is expected to lead the Product segment during 2025-2029

The Portable Power Tools Market is being driven by Demand for DIY building products

The Portable Power Tools Market is expected to grow at a CAGR of 5.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 8402 million. In the evolving landscape of the portable power tools market, web and digital connectivity are becoming essential trends. This innovation enables enhanced inventory management and optimized tool performance. Leading brands such as Stanley Black & Decker's DEWALT, Techtronic, and Bosch are embracing smart technologies to cater to this demand. For instance, DEWALT's Bluetooth-enabled portable power tools and smartphones facilitate real-time tracking of tool status and location. DEWALT's Bluetooth-enabled batteries, connectable via a mobile application, offer notifications when the tool goes out of range and the ability to disable the battery to prevent unauthorized usage. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Cordless tools
  • Corded tools
• Application
  • Commercial
  • Consumer
• Distribution Channel
  • Offline
  • Online
• Price
  • Mid-range
  • Economy
  • Premium
• 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: 

• Demand for DIY building products
• Increasing demand for power tools
• Use of Li-ion batteries

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

• Low penetration of portable power tools in developing and emerging countries
• Limitation of performance
• Uncertainties in global economic growth

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Market Scope in Portable Power Tools Market Research Report

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Research Analysis Overview

The Portable Power Tools Market encompasses various aspects, including the sale of power tool sets, provision of tool storage solutions, maintenance and repair services, recycling programs, safety training, innovation, regulatory compliance, certifications, ergonomics, efficiency, and diverse applications.

Market Research Overview

In the context of the global industrial machinery and supplies and components market, the portable power tools segment, comprising cordless drills, impact drivers, reciprocating saws, circular saws, and power screwdrivers, contributes significantly to the industry's growth. This market, encompassing companies involved in manufacturing industrial machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications, is projected to expand due to the increasing industrial output in process and discrete industries. The global demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages is surging in developing countries, leading to capacity additions and subsequent market growth. According to Technavio, the global industrial machinery and supplies and components market size is determined by the combined revenue generated by manufacturers of machinery and components used in industrial environments.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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