Power tools are gaining traction around the world as both professionals and DIYers look to get more done in efficiently and conveniently. A majority of power tools available in the market are made in China. Availability of raw materials and cheap labour in China has meant that power tools are available at affordable prices.
The value of the global power tools market was worth US$ 27.58 Bn in 2015, and it is expected that the market will reach a valuation of US$ 46.47 Bn by 2025. Some of the key trends in the power tools market are,
Power Tools Outpacing Hand Tools
Power tools are fast outpacing hand tools, as more consumers are preferring to accomplish minor tasks on their own. Increasing popularity of cordless electric saws, grinders, sanders, and polishers is providing impetus to the global power tools market.
High Demand from Professionals
Demand for power tools has also witnessed a surge among professionals, owing to resurgence in the housing market. The global volume of construction is expected to grow by 70% and reach US$ 15 trillion by 2025. The U.S., China, and India are expected to witness robust construction activity, owing to which demand for power tools is expected to increase in the future.
China Dominates Power Tools Market
China dominates the global power tools market, accounting for roughly 80% of power tools produced globally. Chinese vendors have a price advantage as they offer highly efficient power tools at competitive prices.
Shift from Corded to Cordless
The power tools market is also witnessing a shift from corded tools to cordless tools. For example, Hitachi Koki registered incremental sales of 5% in its power tools sales, owing to the introduction of cordless tools. Cordless power tools are expected to gain traction in the future, owing to their ease of use and performance advantages.
DIY Trend Gaining Traction in Developing World
The DIY trend, which has traditionally remained limited to developed world, is now gaining a foothold in the developing market. Rising disposable income and rapid urbanisation have introduced consumers to DIY, owing to which demand for power tools has received a fillip.
Lithium-ion Batteries Replacing Ni-Cd
Another key trend in the power tools market is that Lithium-ion batteries are replacing Ni-Cd technology, owing to the advantages that the former offers. Lithium-ion batteries are lightweight, highly efficient, and offer enhanced run time as compared to Ni-Cd batteries. Owing to these benefits, Li-ion batteries have become the preferred choice among end-users in the power tools market.
Focus on Product Development
Key stakeholders in the power tools market are focusing on product development initiatives to launch innovative products in the market. Companies are investing heavily into research and development (R&D) to enhance tool strength and durability of their offerings. For example, Hitachi Koki Co. Ltd. has introduced the series 36V cordless gardening tools along with the highly-efficient brushless motors. Furthermore, Makita, a Japan based manufacturer of professional and consumer power tools, is focusing on developing safe products with reduced dust emissions featuring low noise and vibration capabilities to meet environmental regulations.
Resurgence of Construction Industry in Emerging Nations
A key macroeconomic factor propelling the power tools market is infrastructure investment in emerging economies. Owing to strong growth in emerging regions of the world, construction industry in expected to witness growth opportunities, which in turn are anticipated to boost the demand for power tools. China, India, and the U.S. to account for nearly 60% of global market growth.
North America, Western Europe, and Asia-Pacific together account for over 70% of share of global power tools market. Asia Pacific, which accounts for third largest share currently, is expected to gain more than 100 BPS to become the second most lucrative market by 2025.
Technological advancements have been empowering the power tools industry with the advent of innovative battery technologies. Battery-powered power tools are becoming ubiquitous, and the shift from wired tools to cordless power tools is expected to remain substantial. The prevalence of wireless power tools is increasing in the market, and manufacturers are jumping the bandwagon by introducing lithium ion batteries that are compact and have longer life spans.
Similarly, innovation is expected to be on the rise as manufacturers in the power tool market are aiming at launching products that reduce down times and increase productivity. Research & development efforts are constantly on the upward spiral in the power tools market as manufacturers are introducing technologies that offer unique advantages. Market players are taking one step ahead of simply launching cordless power tools by offering a range of new multi volt battery products.
Battery-related innovations are thriving as leading manufacturers are launching cordless power tools with batteries that can change their voltage with different applications. For instance, DeWalt Industrial Tool Company - an American company that manufactures power tools and hand tools for various industries including manufacturing, construction, and woodworking industries - announced in September 2020 that it has introduced 20V MAX* with FLEXVOLT ADVANTAGE™ Technology integrated in four different power tools. The technology introduces a feature in power tools that adjusts power output based on specific applications.
In addition to this, manufacturers in the power tools market are also turning to launching various other power tool accessories to consolidate their positions. In December 2020, Bosch Power Tools announced that it has launched new heated gear - GHJ12V heated jacket and GHH12V-20 heated hoodie - which are manufactured with lightweight fabric design for maximum convenience and comfort. The company also declared that the products are integrated with Bosch GAA12V-21 12V Max portable power adapter which consists of Bosch 12V Max Battery that enables charging of various devices.
Browse Full: "Power Tools Market: Global Industry Analysis and Opportunity Assessment 2015 - 2025" Market Research Report at http://www.futuremarketinsights.com/reports/power-tools-market
The Connector and Terminal Systems for Harsh Environment Wiring Market is segmented by Product Type (Sealed connectors, Circular connectors, Rectangular connectors, Feedthroughs, Terminal blocks), Terminal Type (Crimp terminals, Stamped terminals, Machined contacts, Socket contacts, Ring terminals), Material (Copper alloys, Aluminum alloys, Stainless steel, Engineering plastics, Elastomers), End Use (Automotive, Aerospace, Industrial, Energy, Marine), Protection Rating (IP67, IP68, IP69K, Hermetic, EMI-shielded), and Region. Forecast for 2026 to 2036.
The smart junction box and power distribution box systems is segmented by System Type (Smart junction boxes, Power distribution boxes, Fuse boxes, Battery junction boxes), Voltage Class (Low voltage, High voltage, 48V systems), Vehicle Type (Passenger cars, Light commercial, Heavy commercial, Off-highway), Function (Power switching, Circuit protection, Load control, Diagnostics), Sales Channel (OEM, Aftermarket), and Region. Forecast for 2026 to 2036.
The human robot collaborative picking optimization platforms market is segmented by Platform type (AMR orchestration, Goods-to-person orchestration, Hybrid orchestration, Robotic cell orchestration), Deployment model (Cloud, Hybrid, On-premise), Warehouse type (E-commerce fulfillment, 3PL, Retail DCs, Manufacturing DCs), Core function (Task orchestration, Path optimization, Labor balancing, Exception management, Slotting sync), Commercial model (RaaS subscription, Perpetual license, Usage-based, Hybrid contract), and Region. Forecast for 2026 to 2036.
The Robotics-Ready Fulfillment Center Design and Integration Services Market is segmented by Service Type (Design engineering, Controls integration, Simulation, Commissioning, Retrofit design), Facility Type (E-commerce DCs, Omnichannel DCs, 3PL hubs, Grocery FCs, Cold-chain FCs), Automation Scope (Goods-to-person, AMR fleets, ASRS systems, Sortation, Piece picking), End User (Retailers, 3PLs, Grocers, Manufacturers, Pharma), Delivery Model (Turnkey projects, Design-only, Retrofit, Phased rollout, Brownfield), and Region. Forecast for 2026 to 2036.
The valve manifold box market is segmented by Product Type (Manual Valve Manifold Boxes, Semi-automatic Valve Manifold Boxes, Fully Automatic Valve Manifold Boxes, Hazardous Gas Valve Manifold Boxes, Others), Gas Type (Inert and Ultra-high Purity Gases, Corrosive Gases, Toxic Gases, Flammable Gases, Others), End Use Industry (Semiconductor Manufacturing, Display and Photovoltaic Manufacturing, Pharmaceuticals and Life Sciences, Research Laboratories, Others), and Region. Forecast for 2026 to 2036.
