Global Battery power tools market is valued at approximately USD 29.5 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.6 % over the forecast period 2021-2027. The global battery power tools market has exploded due to increased adoption of battery power tools in the automotive, construction, and manufacturing industries. Furthermore, professional, and private users have increased their use of battery power tools as a result of training. Also, the availability of low-cost, energy-efficient battery power tools has increased consumer demand for power tools used in do-it-yourself (DIY) projects. DIY consumers can get training and user guidance from platforms such as YouTube and OEM websites, which also provides after-sales support. In addition, the development of brushless battery power tools that utilize magnets for their basic function reduces the equipments’ maintenance costs, resulting in an increase in sales of brushless battery power tools. These reasons are propelling the battery power tools market forward. To provide better products and services to clients in the battery power tools market, key businesses have implemented tactics such as business expansion, collaboration, acquisition, and product introduction. For instance,
- In April 2019: Bosch released the GBH18V-26D 18V EC Brushless 1 In. SDS-plus Bulldog Rotary Hammer with CORE18V battery. The GBH18V-26D rotary hammer weighs 5.8 lbs (tool only) and offers 1.9 ft-lbs of impact energy for improved impact-to-weight ratio and increased performance in concrete drilling and chipping.
- In March 2020: Makita released a new cordless string trimmer, the 18V X2 LXT (36V) (XRU18). The XRU18 is suitable for professional landscapers to use for aggressive tasks such as cutting bushes and tall weeds, as it has the power of a 30cc gas string trimmer.
However, fluctuations in raw material prices may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global Battery power tools market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). North America is the leading region across the world in terms of market share due to increase in construction activities and increase in demand of power tools in the region. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027 as countries such as China and India are witnessing rising demand for power tools.
Major market player included in this report are:
Samsung SDI Co Ltd
Stanley Black & Decker, Inc.
Apex Tool Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018,2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Battery power tools market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers