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Global Cordless Power Tools Market, by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026 

Power tools that are cordless and operated with the help of battery for drilling, screw driving, chiseling, and sanding are known as cordless power tools or batter power tools. They are widely used in a variety of applications such as construction, production, assembly, packaging, and maintenance operations. Power tools include handheld machine drills, nailers, saws, grinders, impact wrench, and other types of power tools. In the past few years, cordless power tools have witnessed significant design and technological improvements. Modern or next-gen tools are extremely compact, sleek, and are built to enhance the mobility of the tool for any sorts of job.

Major players operating in the global cordless power tools market are: Snap-on, Hitachi, Hilti, Husqvarna, Atlas Copco, Robert Bosch, Makita, Emerson Electric Co., Techtronic Industries, and Stanley Black & Decker, among others.

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Growing construction industry in the emerging economies is expected to propel growth of the cordless power tools market during the forecast period. For instance, according to India Brand Equity Foundation (IBEF), India, China, and the United States are expected to account for over 60% of all global growth in the sector by 2025. While, around 52% of all construction activity is already taking place in the emerging markets, which is set to reach 63% by 2025.

Moreover, high demand for cordless power tools in automotive industry and rapid growth of the automotive industry is expected to augment the growth of the cordless power tools market. For instance, according to IBEF, Indian automotive industry is expected to reach US$ 251.4-282.8 billion (Rs. 16.16-18.18 trillion) by 2026.

Geographically, the report examines production, consumption, revenue, market share, growth rate, and forecasts for the following regions:

North America  (United States, Canada)

Asia Pacific  ( China, Japan, India, South Korea, Australia, Indonesia, Others)

Europe  (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

Latin America  (Brazil, Mexico, Others)

The Middle East and Africa  (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)

The outbreak of COVID-19 (pandemic) has adversely affected the growth of industrial and/or professional applications. Moreover, the pandemic has severely impacted the global economy and all the industries across the world. Thus, a sharp decline had been witnessed in the adoption of cordless power tools from various industries, especially in 2020 due to the disruptions in the supply chain. This in turn is expected to have a negative impact on the growth of the market.

Some of the important questions answered in this report include:

What are the top five Cordless Power Tools Market players?

What will the Cordless Power Tools Market look like in the following years?

Which product and application will dominate the Cordless Power Tools Market?

What are the Cordless Power Tools Market’s drivers and restraints?

Which regional market will represent the highest growth?

What will be the CAGR and market size of the Cordless Power Tools Market over the forecast period?

What is the present market size, what will it be in 2029, and what will be the growth rate?

What are the constraints to market growth?

What market opportunities and risks do the key companies face?

Who are the main competitors, and what is their strategic approach?

What are the market’s entry challenges for new players?

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The cordless power tools market is the rising adoption of cordless power tools and surging demand for electric fastening tools around the world. For instance, in February 2020, Bosch Power Tools India announced the launch of smart cordless measuring tools for on-the-go professionals, such as cordless GLM 150 C Professional, cordless GLL 30 G Professional and, cordless GTC 400 C Professional, to offer superior customer experience.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the cordless power tools market owing to the increasing demand or adoption of cordless power tools, rising demand for fastening tools, introduction of novel products, and growing automotive and construction industries in these regions. For instance, in January 2022, VTOMAN announced the launch of its all-in-one cordless power tool kit. Every tool in the toolkit shares a common power supply, eliminating the need for a different power source for each power tool.

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Coherent Market Insights is a global market intelligence   and consulting organization, focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 32 countries worldwide. We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and start-ups looking to establish a foothold in the market. We meticulously study emerging trends across various industries at both the global and regional levels to identify new opportunities for our clientele.

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The post The Cordless Power Tools Market to Grow With Growing Automotive and Construction Industry, Top Players – Husqvarna, Atlas Copco, Robert Bosch appeared first on Gatorledger.

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