Power Tools Market Size By Mode (Electric Corded, Electric Cordless, Pneumatic), By Tool Type (Drilling & Fastening, Sawing & Cutting Tools, Demolition, Material Removal, Wrenches, Others), Application (Construction, Automotive, Aerospace, Energy, Electronics, DIY, Others), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Sep 2021  |  Report ID: GMI5006  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 250   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Power Tools Market size exceeded USD 49 billion in 2020 and is estimated to grow at over 6.4% CAGR from 2021 to 2027. Ease & efficiency of operations, easy portability, and reduced labor & time requirements are some of the major factors that have raised the product demand.
 

Power Tools Market

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Rising usage of these tools in construction and automotive industries will boost market growth. Power tools increase efficiency and reduce the completion time of the tasks. In automotive production, assembly lines require fastening of nuts and bolts for various components and systems. Due to this factor, the tools are used by automotive OEMs and maintenance service providers in the automobile industry. Furthermore, the increasing use of sanders, wrenches and drills in construction sector is escalating the demand for power tools.
 

Rising DIY activities has increased tools demand from household users. Power tools are achieving acceptance in household applications owing to their easy mobility and easy operability. For instance, Bosch offers power tools with special protection features such as restart protection in angle grinders and rotation control in rotary drills. These features enhance the power tools adoption in applications like household and reduce injury risks associated with the products. To cater to the requirements of the users that are not trained professionals, companies are offering products with enhanced safety features.
 

Increasing adoption of electric cordless power tools to augment the revenue generation

The electric corded power tools market is expected to generate around USD 30 billion by 2027. Technological innovation in battery and the usage of electric power tools among industrial & residential applications are anticipated to fuel the demand for electric corded power tools.
 

Growing demand for DIY techniques for residential use is propelling the segment demand. The increasing demand for flexible, mobile, and compact tools is driving the market revenue.
 

Rising demand for drilling & fastening tools will complement the industry statistics

Based on the tool type, the drilling and fastening tools segment is forecast to register growth rate of nearly 6.3% during 2021 to 2027. Electric-based drilling & fastening tools are majorly used by professionals and DIY consumers. Pneumatic drilling & fastening tools are used in manufacturing plants and industrial applications such as automotive & aerospace.
 

The consumption of power tools by the construction sector will enhance the market size

Power Tools  Market Size By Application

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The construction application is set to account for about USD 25 billion by 2027. Increasing construction activities across Asia Pacific and Europe are anticipated to drive the power tools market demand.
 

Rising Do-It-Yourself (DIY) activities and increasing use of DIY tools in the developed countries of North America and Europe are fostering the demand. Moreover, consumer preference for DIY tools for DIY activities, such as plumbing, interior home renovation, and gardening, is fueling power tools industry growth.
 

Asia Pacific to witness significant growth

Power Tools Market Share By Region

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In 2020, Asia Pacific held more than 40% of the power tools market share. The growing automotive industry in countries including China, Japan, and India is projected to spur the regional market expansion. Growing infrastructure and construction development activities are some of the factors positively influencing the industry outlook.
 

Europe is predicted to observe a considerable CAGR of above 6.2% through 2027 and the regional market is led by Germany and UK. The presence of several automotive and electronic manufacturing plants across several European countries is augmenting the market demand.
 

Technology innovation is one of the major strategic outlooks of the overall industry

The power tools market is fragmented with the presence of several companies. Industry participants are engaging in strategic partnerships and mergers & acquisitions to provide competitive differentiation and strengthen their product portfolio.
 

A high degree of competition is present in the global market. The key players are involved in technology innovation and advancement to enhance the product’s features and easy handling. Some of the major manufacturers include Robert Bosch GmbH, Techtronic Industries, Hilti Corporation, Stanley Black & Decker, Makita Corporation, Apex Tool Group, Atlas Copco, Hitachi Koki Ltd., Emerson Electric Co., and Enerpac Tool Group.
 

This market research report on power tools includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2027 for the following segments:

Market, By Mode

  • Electric Corded
  • Electric Cordless
  • Pneumatic

Market, By Tool Type

  • Drilling & Fastening
  • Sawing & Cutting Tools
  • Demolition
  • Material Removal
  • Wrenches
  • Others

Market, By Application

  • Construction
  • Automotive
  • Aerospace
  • Energy
  • Electronics
  • DIY
  • Others

Market, By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • Russia
    • France
    • Italy
  • Asia Pacific
    • China
    • India
    • South Korea
    • Japan
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Frequently Asked Questions (FAQ) :

The power tools market size surpassed USD 49 billion during 2020 and will expand at a significant rate through 2027, says this GMI report.
The share of electric corded power tools is expected to reach around USD 30 billion by 2027 globally, due to consistent technological innovations, demand from industrial as well as residential users along with growing DIY trend.
It is projected that construction applications will hold nearly USD 25 billion share of global power tools market by 2027 with increasing infrastructure spending across Asia Pacific and European countries.
Asia Pacific region accounted for over 40% of global power tools industry share during 2020 with robust automotive sector in China, India and Japan, as well as a fast-growing construction sector.
Companies making power tools for the global market include Techtronic Industries, Techtronic Industries, Atlas Copco, Robert Bosch GmbH, Hitachi Koki Ltd., Emerson Electric Co. and Enerpac Tool Group, among others.

Premium Report Details

  • Published Date: Sep 2021
  • Pages: 250
  • Tables: 140
  • Charts / Figures: 10
  • Companies covered: 15
  • Countries covered: 21

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