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2021
Battery Power Tools Market

Battery Power Tools Market

by Motor Type (Brushed and Brushless), Tool (Drills, Saws, Lawn Motors, Impact Wrench and Others) and Application (Industrial and DIY): Global Opportunity Analysis and Industry Forecast, 2021-2030
Update Available On-Demand

Report Code: A05808
Pages: 370
Aug 2021 | 15251 Views
Author(s) : Digvijay P , Onkar S
Tables: 207
Charts: 111
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The global battery power tools market size was valued at $20,772.3 million in 2020, and is projected to reach $41,196.3 million by 2030, growing at a CAGR of 6.9% from 2021 to 2030. Power tools that are cordless and operated with the help of battery for drilling, screw driving, chiseling, and sanding are known as battery power tools. These tools are used for various applications such as production, packaging, assembly, and maintenance operations. These tools include handheld machine drills, saws, nailers, grinders, impact wrench, and other types of battery power tools. 

The battery power tools market was hampered in first and second quarter owing to lockdown in several major countries, however the market recovered in the third and fourth quarter due to recovery of sales majorly in North America and Europe region.

Growth in adoption of battery power tools in automotive, construction and manufacturing sector has led to surge in the battery power tools market globally. Moreover, training for operating the battery power tools has led to increase in power tools by professional as well as individual users. In addition, affordable and energy efficient battery power tools has led to increase in demand for power tools in do-it-yourself (DIY) techniques among household consumers. Platforms such as YouTube and websites of OEM, also offer training and user guidance for the DIY consumers, thus, offering aftersales support to them as well. Further, introduction of brushless battery power tools uses magnet for its basic operation and thus, significantly reduces the maintenance cost of the tools and therefore, leads to increase in sales of the brushless battery power tools. These factors act as a driver to the battery power tools market.

Battery-Power-Tools-Market-2021-2030[3]

However, availability of low-cost alternative, such as manually operated hand tools and availability of more powerful tools such as corded power tools leads some customers to opt for these alternatives as per their budget and application, thus acting as a restraining factor to the battery power tools market. In addition, decrease in rate of new construction has led to decline in sales of the battery power tools. Furthermore, during the outbreak of COVID-19, construction, manufacturing, hotel, and tourism industries were majorly affected. Construction activities were also stopped or restricted to a huge extent. Manufacturing and transportation activities along with the supply chains of industrial equipment were hampered on a global level. This led to decline in construction activities, which directly hampers the battery power tools market. However, gradually all industries are resuming their regular manufacturing and services. This is further expected to lead to re-initiation of battery power tools companies at their full-scale capacities, which is expected to help the market to start to recover by end of 2021.

On the contrary, growing advancement of rechargeable batteries such has Li-ion batteries that are more powerful is anticipated to offer lucrative growth opportunities for the global market.

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 (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Battery Power Tools Market
By Tool

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Drills segment holds the largest share in Battery Power Tools market

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By motor type, in 2020, the brushed segment dominated the global battery power tools market, in terms of revenue and the brushless segment is expected to witness growth at the highest CAGR during the forecast period. On the basis of tool, the drills segment led the market in 2020, in terms of revenue and the lawn mower segment is anticipated to register the highest CAGR during the forecast period. By application, the industrial segment led the market in 2019, in terms of revenue and DIY is anticipated to register the highest CAGR during the forecast period.

Battery Power Tools Market
By Application

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Industrial segment holds dominant position in 2020

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Competition analysis

The major players profiled in the battery power tools market include Apex Tool Group, Atlas Copco AB, Hilti Corporation, Ingersoll-Rand PLC, Hitachi Ltd., Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black and Decker, and Techtronic Industries. These major companies in the market have adopted strategies such as business expansion, collaboration, acquisition, and product launch, to offer better products and services to customers in the battery power tools market.

Battery Power Tools Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

North America holds a dominant position in 2020 and LAMEA is expected to grow at a highest rate during the forecast period.

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Key Benefits For Stakeholders

  • The report provides an extensive analysis of the current and emerging battery power tools market trends and dynamics. 
  • In-depth battery power tools market analysis is conducted by estimations for the key segments between 2021 and 2030. 
  • Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
  • A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
  • The battery power tools market forecast analysis from 2021 to 2030 is included in the report.
  • The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the battery power tools industry.

Key Market Segments

By Motor Type

  • Brushed Motor
  • Brushless Motor

By Tools 

  • Drills
  • Saws
  • Lawn Mower
  • Impact Wrench
  • Others

By Application

  • Industrial
  • DIY

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Players

  • Apex Tool Group
  • Atlas Copco AB
  • Hilti Corporation
  • Ingersoll-Rand PLC
  • Hitachi Ltd.
  • Makita Corporation
  • Robert Bosch GmbH
  • Snap-On Incorporated
  • Stanley Black and Decker
  • Techtronic Industries
 

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The battery power tools market is mainly driven by rise in adoption of battery or portable power tools in automotive, construction and manufacturing sector. In addition, introduction of brushless battery power tools needs less maintenance and therefore, is used by a large number of professional as well as DIY customers. Moreover, affordable and energy-efficient battery power tools are being launched in market and thus drives the battery power tools market. The global battery power tools market was valued at $20,772.3 million in 2020, and is projected to reach $41,196.3 million by 2030, growing at a CAGR of 6.9% from 2021 to 2030.

However, availability of low-cost alternative such as manually operated hand tools and high powered corded power tools, acts as restraint to the battery power tools market. In addition, decline in rate of new construction in developed countries has hampered the sale of battery power tools. On the contrary, increase in advancements of rechargeable batteries is anticipated to drive the growth of the battery power tools market during the forecast period.

Major companies in the market have adopted strategies such as acquisition, collaboration, business expansion and product launch, to offer better services to customers in the battery power tools market.

 

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FREQUENTLY ASKED QUESTIONS?

A. The global battery power tools market size was valued at $20,772.3 million in 2020, and is projected to reach $37,401.9 million by 2028, growing at a CAGR of 7.5% from 2021 to 2028.

A. The forecast period considered for the global battery power tools market is 2021 to 2028, wherein, 2020 is the base year, 2021 is the estimated year, and 2028 is the forecast year.

A. To get latest version of global battery power tools market report can be obtained on demand from the website.

A. The base year considered in the global battery power tools market report is 2020.

A. The top companies holding the market share in the global battery power tools market report include Apex Tool Group, Atlas Copco AB, Hilti Corporation, Ingersoll-Rand PLC, Hitachi Ltd., Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black and Decker, and Techtronic Industries.

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning

A. By type, in 2020 the brushed motor segment dominated the global battery power tools market, in terms of revenue and is expected to maintain this trend during the forecast period.

A. By end user, the industrial segment is the highest share holder of global battery power tools market.

A. The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.

A. The market value of the global battery power tools market is $22,600.3 million in 2021.

A. The global battery power tools market was valued at $20,772.3 million in 2020, and is projected to reach $41,196.3 million by 2030, growing at a CAGR of 6.9% from 2021 to 2030.

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