Cordless Power Tools Market Analysis

Cordless Power Tools Market Analysis

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Based on the tool type, the drills segment emerged as the dominant force within the market, commanding a substantial market share of over 30% in 2023. due to the wide array of applications for drills across construction, woodworking, metalworking, and home improvement projects, making them indispensable tools for professionals and DIY enthusiasts alike. Furthermore, the lawn mower segment is projected to exhibit 7.2% CAGR through 2032, owing to the increasing consumer preference for cordless lawn mowers due to their portability, ease of use, and environmental friendliness compared to traditional gas-powered alternatives.
 

Based on motor type, the brushed motor segment held approximately 60% of the market share in 2023. However, brushless motors segment will showcase 7.7% growth rate through 2032. This surge in the adoption of brushless motors can be credited to their inherent advantages, including higher efficiency, reduced maintenance requirements, and longer operational life. Brushless motors are devoid of the brushes and commutators found in their brushed counterparts, resulting in less friction, lower heat generation, and enhanced overall performance.
 

Based on the voltage, the 20V segment emerged as the dominant force, capturing a market share exceeding 30% in 2023. The 20V tools strike a balance between power and portability, making them versatile and suitable for a wide range of applications. This voltage range is often preferred by both professionals and DIY enthusiasts as it offers sufficient power for various tasks without compromising on maneuverability.
 

The construction segment acquired approximately 35% share of the cordless power tools market in 2023. This leadership position can be attributed to the burgeoning construction industry worldwide, characterized by increased infrastructure development, residential and commercial construction projects, and a growing demand for efficient and portable tools among construction professionals. Cordless power tools offer unparalleled flexibility and mobility on job sites, eliminating the constraints associated with corded alternatives.
 

The offline channel segment accounted for over 60% of the revenue share in 2023, on account of the longstanding presence of traditional brick-and-mortar stores, which have historically served as primary outlets for power tools. Similarly, consumers often prefer offline channels for their ability to provide hands-on experiences with the products, allowing them to assess the tool's weight, ergonomics, and overall feel before making a purchase.
 

North America cordless power tools market size surpassed USD 4 billion in 2023, driven by infrastructure development and a flourishing home improvement sector. The region's strong economic conditions, coupled with a high level of technological adoption and disposable income among consumers, fueled the demand for advanced cordless power tools. In addition, stringent regulations promoting workplace safety and environmental sustainability further incentivized the adoption of cordless tools, aligning with the region's commitment to cutting-edge and eco-friendly technologies.