Battery Power Tools Market by Motor Type (Brushed Motor and Brushless Motor), Tools (Drills, Saws, Lawn Mower, Impact Wrench, and Others), and Application (Industrial and DIY): Global Opportunity Analysis and Industry Forecast, 2019-2026
The global battery power tools market was valued at $22,440.0 million in 2018, and is projected to reach $44,062.0 million by 2026, growing at a CAGR of 8.5% from 2019 to 2026. Battery power tools are mechanical devices, which operate on a battery. These tools include handheld machine drills, saws, nailers, grinders, impact wrench, and others, which are used for varied applications such as production, packaging, assembly, and maintenance operations, including drilling, screw driving, chiseling, and sanding.
The growth of the global power tools market is driven by rapid industrialization in developed & developing countries, rise in urbanization, and surge in adoption of battery power tools in the automotive industry. Moreover, the demand for power tools increased in do-it-yourself (DIY) techniques among household consumers. Thus, the increased adoption of DIY techniques has in turn fueled the market growth, due to rise in demand for battery-driven cordless tools, changes in lifestyle, and surge in per capita income. However, decline in growth of the construction industry hinders the market growth. On the contrary, advancements in rechargeable batteries is anticipated to offer lucrative growth opportunities for the global market.
Key market players have developed a diverse range of power tools due to increase in their demand in construction and manufacturing industries. Product launch is a prominent strategy adopted by key market players. For instance, in May 2019, Makita Corporation launched 18V X2 LXT brushless 12” dual-bevel sliding compound miter saw with laser and 12” dual-bevel sliding compound miter saw with laser. These devices offer unmatched cutting capacity, space saving design, and innovative technology. These devices are designed for the industrial applications to facilitate automatic cutting operation.
The global battery power tools market is segmented into motor type, tool, application, and region. Depending on motor type, the market is divided into brushed motor and brushless motor. By tool, it is classified into drills, saws, lawn mower, impact wrench, and others. The others segment includes hammers, grinders, nibbler, polishers, planers, staplers, nailers, and others. The applications covered in the study are industrial and DIY. The global battery power tools market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the market throughout the forecast period.
The key market players profiled in the report of Battery power tools market include Apex Tool Group, LLC, Atlas Copco, Hilti Corporation, Ingersoll-Rand plc, Koki Holdings, Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black and Decker, and Techtronic Industries.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging battery power tools market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2018 and 2026.
Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global battery power tools market forecast analysis from 2018 to 2026 is included in the report.
Key market players within battery power tools market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the battery power tools industry.
GLOBAL BATTERY POWER TOOLS MARKETSEGMENTS
BY MOTOR TYPE
Rest of Europe
Rest of Asia-Pacific
Apex tool group, LLC
Robert Bosch GmbH
Stanley Black and Decker
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