Cordless Power Tools Market

Cordless Power Tools Market Analysis by Product (Drilling and Fastening Tools, Sawing and Cutting Tools, Demolition Tools, Material Removal Tools, Garden Tools, Vacuum Cleaners, and Other Tools), by Motor Type (Brushed Motors and Brushless Motors), by Battery Voltage Type (12V and below, 18V/20V, 24V/36V, and 40V/60V and Above), by End Use (Residential and Industrial & Professional) and by Region - Global Market Insights 2023 to 2033

Analysis of Cordless Power Tools Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Cordless Power Tools Market Outlook (2023 to 2033)

Newly-released cordless power tools market analysis report by Fact.MR reveals that the global sales of cordless power tools in 2022 were held at US$ 15.3 Billion. With 9.1% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 39.2 Billion by the end of the forecast period.

Material removal tools in the market are expected to be the highest revenue-generating product type, projected to grow at a CAGR of 8.7% from 2023 to 2033.

Attributes Details
Cordless Power Tools Market Size (2022) US$ 15.3 Billion
Estimated Market Value (2023) US$ 16.4 Billion
Forecasted Market Value (2033) US$ 39.2 Billion
Global Market Growth Rate (2023-2033) 9.1%
U.S. Market Growth Rate (2023 – 2033) 6.1%
Residential Use Growth Rate (2023 – 2033) 9.8%
Brushless Motors Growth Rate (2023 – 2033) 10.1%
Leading Regional Market North America
China Market Growth Rate (2023 – 2033) 10.2%
Key Companies Covered
  • Techtronic Industries
  • Stanley Black & Decker Inc.
  • Makita Corporation
  • Hilti Group
  • Andreas Stihl AG & Co
  • Ingersoll Rand Inc.
  • Snap-on Incorporated
  • Atlas Copco
  • Husqvarna Group
  • Positec Tool Corporation
  • Emerson
  • Illinois Tool Works Inc. (ITW)
  • Koki Holdings Co
  • Robert Bosch GmbH
  • Chervon Group

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Revenue of Cordless Power Tools from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the research on the cordless power tools market by Fact.MR - a market research and competitive intelligence provider, historically, from 2018 to 2022, the value of cordless power tools increased at around 3.9% CAGR. With an absolute dollar opportunity of US$ 23.9 Billion, the market is projected to reach a valuation of US$ 39.2 Billion by 2033.

What Key Drivers Are Influencing the Cordless Power Tools Market Expansion?

Cordless power tools, also known as battery-operated power tools, have gained significant traction due to advancements in battery technology, offering users the freedom to operate tools without being tethered to a power source.

In the past decade, the DIY culture has gained significant popularity worldwide. People are increasingly taking on home improvement projects, ranging from simple repairs to complex renovations. This shift can be attributed to factors such as easy access to online tutorials, a desire for personalization, cost savings, and the satisfaction of creating something with one's own hands.

Covid-19 also had a significant impact on the DIY home improvement market with sales surpassing US$ 667.9 Billion in 2019. North America and Europe combined represented over 86% of the market in the year indicating market attractiveness for cordless power tools to help home décor projects.

The global DIY E-commerce revenues also reached US$ 413 Billion in the same year. As the trend of DIY culture continues to rise, the demand for cordless power tools is expected to grow steadily, reshaping the landscape of the power tool industry for years to come.

The market has seen significant advancements in recent years, with innovations aimed at improving performance, efficiency, and user experience. One such transformative opportunity lies in the integration of Internet of Things (IoT) technology with cordless power tools. IoT enables seamless connectivity, data exchange, and smart functionalities, empowering users with enhanced control and insights. For instance, Silicon Labs provides IoT solutions to cordless power tool manufacturing companies to provide smart integrations to enhance the connectivity of their tools. As IoT continues to evolve, the future of cordless power tools appears more promising and compelling than ever before.

In the dynamic and competitive cordless power tools market, industry collaborations and acquisitions have emerged as a significant trend. As technology continues to advance and consumer demand evolves, companies are recognizing the value of strategic partnerships and acquisitions to drive innovation, expand their product portfolios, and gain a competitive edge. For instance, in March 2023, cordless power tools manufacturer STIHL acquired a 75% stake in German garden technology specialist Mogatec to expand the power tools to gardening.

Collaborations and acquisitions in the cordless power tools market can significantly impact market presence and brand recognition. Joint ventures between well-known power tool manufacturers and reputable industrial players allow for cross-promotion and market penetration. In another instance, In January 2023 Bosch announced its plan to acquire a 12% share in Swedish company Husqvarna AB to strengthen the battery alliance between the two companies.

As the market continues to evolve, collaborations and acquisitions will remain key drivers of growth and innovation, shaping the industry's future and meeting the evolving needs of professionals and DIY enthusiasts worldwide.

Which Region is Projected to Offer the Largest Cordless Power Tools?

North America is a prominent shareholder of Cordless Power Tools with a market size of US$ 4.7 Billion in 2022 and US$ 4.9 Billion in 2023. It is projected that North America will have a market of Cordless Power Tools worth US$ 9.2 Billion in 2033.

In 2022, North America has the highest consumption volume of power tools globally with 144.3 million units sold in the country. This is significantly due to the presence of leading manufacturers globally such as Snap-on Incorporated, Ingersoll Rand Inc., and Emerson.

As these brands are shifting towards manufacturing cordless power tools from traditional corded power tools, the region is expected to gain more sales volume of cordless power tools. For instance, Rockwell Tools headquartered in the US and distributed by Chinese Positec has moved to offer 80% cordless power tools and 20% corded power tools under the brand WORX.

Milwaukee Tools has also decided to fully move to cordless power tools if they outperform their corded versions. These brands are significantly fueling the adoption of cordless power tools in the region. North American cordless power tools market can be expected to dominate the power tools sales during the forecast period.

Country-Wise Analysis

Market CAGR (2023 to 2033)
United States 6.1%
China 10.2%

United States Cordless Power Tools Market Analysis:

The market in the United States is expected to grow to be worth US$ 8.1 Billion with an absolute dollar growth of US$ 3.8 Billion. The market in the United States has grown at a CAGR of 1.5% from 2018 to 2022 and is expected to grow at a CAGR of 6.1% from 2023 to 2033.

Over the past few decades, the DIY (Do-It-Yourself) and home improvement culture in the United States has experienced significant growth. Fueled by a combination of factors, this trend has transformed how people approach their living spaces and engage with home-related projects.

For instance, DIY and home improvement sales soared to US$ 457 Billion in 2020 and are projected to grow with a GAGR of 6.3% and reach a valuation of US$ 621 Billion by 2025. This trend significantly contributes to a high sales volume of cordless power tools in the country. As DIY homeowners take on home improvement projects, the convenience, portability, and ease of use can fuel the growth of cordless power tools in the country.

China Cordless Power Tools Market Analysis:

The market in China is expected to grow to be worth US$ 2.4 Billion with an absolute dollar growth of US$ 4.4 Billion. The market in China has grown at a CAGR of 3.1% from 2018 to 2022 and is expected to grow at a CAGR of 10.2% from 2023 to 2033.

The construction industry globally heavily relies on electric power tools for tasks such as drilling, cutting, fastening, and more. In the Industrial and professional end use of cordless power tools, the construction industry contributed to 32.4% of the market value in 2023. China’s construction industry is one of the most dynamic industries globally, with large construction projects attributed to urbanization and infrastructure expansion of the country.

As cities grow and new infrastructure projects are undertaken, there is a growing need for efficient and versatile tools that can handle various tasks on construction sites. The country also has manufacturing companies such as Positec which owns cordless power tool brands such as Kress, Worx which can significantly contribute to the adoption of cordless power tools in the construction industry of the country.

Germany Cordless Power Tools Market Analysis:

The market in Germany is expected to grow to be worth US$ 1.5 Billion with an absolute dollar growth of US$ 717.9 Million. The market in Germany has grown at a CAGR of 1.9% from 2018 to 2022 and is expected to grow at a CAGR of 6.4% from the year 2023 to 2033.

Gardening is a cherished pastime in Germany. With a significant portion of the population residing in suburban or rural areas, many households have gardens or outdoor spaces that they tend to. This has created a consistent demand for gardening tools, including lawnmowers, pruning shears, trimmers, and watering equipment.

The DIY and gardening culture in Germany, similar to other parts of the world, has also contributed to the growth of cordless tools. As household tools and gardening equipment consumption in the country jumped from US$ 10.7 Billion in 2019 to US$ 11.9 Billion in 2021.

This creates significant opportunities for cordless lawnmowers, trimmers as well as drilling and fastening tools in the country as more people prioritize the convenience of cordless garden tools for ease of use outdoors without having to deal with the hassle of electric supply.

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Category-Wise Insights

Segment CAGR (2023 to 2033)
Brushless Motors 10.1%
Residential Use 9.8%

Which Motor Type of Cordless Power Tools Is Projected to Witness Significant Growth?

The adoption of cordless power tools with brushless motors is projected to witness significant growth with a CAGR of 4.6% from 2018 to 2022 and is expected to grow at a CAGR of 10.1% from 2023 to 2033.

Brushless motors have a longer lifespan compared to traditional brushed motors. The absence of brushes eliminates wear and tear, minimizing maintenance requirements and contributing to the tools' overall durability. As a result, tools equipped with brushless motors offer longevity and robustness, making them a reliable investment for users.

The release of lines of tools with brushless motors is a significant market trend in the cordless power tools industry. With a focus on innovation and technological advancement, the market will continue to witness the expansion of brushless motor-equipped tool lines, catering to the evolving needs of users worldwide.

Which End Use of Cordless Power Tools Is Projected to Witness Significant Growth?

Residential use of Cordless Power Tools is projected to witness significant growth with a CAGR of 5.1% from 2018 to 2022 and is expected to grow at a CAGR of 9.8% from 2023 to 2033.

The growing trend of homeowners taking on do-it-yourself projects, coupled with the rise in home renovation activities, further fuels the demand for cordless power tools. As more individuals recognize the benefits of cordless power tools in terms of ease of use and enhanced maneuverability, their adoption in residential settings is expected to witness a significant and sustained upward trajectory.

Competitive Analysis

Cordless power tools manufacturing companies worldwide are increasing their capacities to produce cordless power tools and expanding product portfolios with new launches. Some of them are collaborating for research and development in the field to create advanced cordless power tools.

Key players in the market are Techtronic Industries, Stanley Black & Decker Inc., Robert Bosch GmbH, Makita Corporation, Hilti Group, Andreas Stihl AG & Co, Ingersoll Rand Inc., Snap-on Incorporated, Atlas Copco, Husqvarna Group and Positec Tool Corporation.

Some of the recent developments in the market are :

  • In February 2022, TTI brand Ryobi launched a new line of 2 AH rechargeable lithium-ion batteries that will power handheld tools. The battery is available with a USB-C port which will save the cost of the custom battery charger. The brand is planning tools such as cordless screwdrivers, power cutters, power cravers, and rotary tools for this USB lithium line.
  • In January 2022, Makita added 9 new tools and equipment under XGT CORDLESS tools. This launch included outdoor power equipment, lighting, concrete, and more. Under OPE company released cordless chainsaws with brushless motors, for concrete a brushless concrete vibrator, and a cordless impact driver for fastening.
  • In July 2020, Bosch and Husqvarna Group's Gardena division joined forces to create an alliance. Together with other renowned brands, they introduced the Power for All Alliance, a multi-vendor battery system that will power various home products. This alliance was built upon Bosch's battery technology, forming a solid foundation for collaboration.
  • In December 2021, Stanley Black & Decker Inc. completed the acquisition of outdoor power equipment companies Excel Industries and MTD Holdings. This acquisition strengthened the company's position in the cordless electric outdoor power equipment industry with brands such as CRAFTSMAN, BLACK+DECKER, and DEWALT.

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Segmentation of the market

  • By Product Type:

    • Drilling and Fastening Tools
      • Drills
      • Impact Wrenches
      • Screwdrivers & Nut Runners
    • Sawing and Cutting Tools
      • Band Saws
      • Reciprocating Saws
      • Circular Saws
    • Demolition Tools
      • Rotary Hammers
      • Hammer Drills
    • Material Removal Tools
      • Sanders
      • Grinders
      • Routing Tools
    • Garden Tools
      • Trimmers & Blowers
      • Lawn Mowers
      • Ride on Lawn Mowers
    • Vacuum Cleaners
      • Handheld Vacuums
      • Stick Vacuums
    • Garden Tools
      • Dust Extractors
      • Heat and Glue Guns
      • Laser Tools
      • Others
  • By Motor Type :

    • Brushed Motors
    • Brushless Motors
  • By Battery Voltage Type :

    • 12V & Below
    • 18V/20V
    • 24V/36V
    • 40V/60V and Above
  • By End Use :

    • Residential
    • Industrial & Professional
    • Construction Industry
    • Woodworking and Carpentry
    • Automotive Industry
    • Electronics and Appliance Repair
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & ASEAN
    • Middle East & Africa
    • Oceania

- FAQs -

The global market size is estimated to be valued at US$ 16.4 Billion in 2023.

The market is expected to reach a valuation of US$ 39.2 Billion in 2033.

The market registered a CAGR of 3.9% over the last 4 years.

The market is projected to witness a CAGR of 9.1% from 2023 to 2033.

The material removal tools type of cordless power tools are projected to witness significant demand with an projected CAGR of 8.7%.

Brushless motors in Cordless Power Tools are projected to witness the highest demand till 2033 and are expected to grow at a CAGR of 10.1%.

The United States is projected to witness a market size of US$ 8.1 Billion and is expected to grow at a 6.1% CAGR till 2033.

Key players in the market are Techtronic Industries, Stanley Black & Decker Inc., Robert Bosch GmbH, Makita Corporation, Hilti Group, Andreas Stihl AG & Co, Ingersoll Rand Inc., Snap-on Incorporated, Atlas Copco, Husqvarna Group and Positec Tool Corporati

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Cordless Power Tools Market

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