In 2020, the U.S. power tool market size was estimated at around 11.6 billion U.S. dollars. In that same year, the North American power tool market size was estimated at around 13.57 billion U.S. dollars.

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According to our research report, the Power Tools Market in the US will witness a CAGR of 3.33% which is expected to increase by USD 1.63 billion for the forecast period 2020 to 2025.

This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (electric, pneumatic, and others) and end-user (professional and consumer). The power tools market in the US report also offers information on several market vendors, including ANDREAS STIHL AG & Co. KG, Apex Tool Group LLC, Emerson Electric Co., Illinois Tool Works Inc., Ingersoll Rand Inc., Makita Corp., Robert Bosch GmbH, Snap-on Inc., Stanley Black & Decker Inc., and Techtronic Industries Co. Ltd. among others.

What will the Power Tools Market Size in US be During the Forecast Period?

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Parent Market Analysis

The power tools market in US is a part of the global electrical components and equipment market. The global electrical components and equipment market was valued at USD 1,941.23 billion in 2020. Our Technavio Research categorizes the global market belonging to the Electrical Equipment industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Power Tools Market in US: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The growing demand for power tools for DIY projects in the US is notably driving the power tools market growth in the US, although factors such as may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the power tools industry in US. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Power Tools Market Driver in US

One of the key factors driving growth in the market is the growing demand for power tools for DIY projects in US. DIY projects refer to activities in which individuals such as hobbyists, residents, amateurs, or enthusiasts engage themselves in modifying, upgrading, maintaining, and rebuilding their material possessions such as household appliances, automobiles, residences, and bicycles. DIY projects are performed using raw or semi-finished raw materials, suitable tools, and equipment with little or no assistance from professionals. Home improvement projects constitute the majority of DIY projects. Some home improvement projects include replacing a shower faucet or refinishing the basement and attic. Home improvement projects include activities such as woodworking; plumbing; landscaping; and heating, ventilation, and air-conditioning (HVAC) utility repair works. A home is usually a life-long asset, and the demand for DIY tools, including power tools, for home improvement projects is growing in the US, as the large and affluent middle class in the US increasingly demands a better home space to ensure an improved standard of living. Moreover, with the spread of social media channels, more people are getting engaged in DIY projects to demonstrate their creative skills. Also, before hiring a working professional or labour, brainstorming has become a part of life, calculating the cost of professional plumbers, electricians, and mechanics. Such factors will positively impact the growth of the power tools market.

Key Power Tools Market Challenge in US

The risk of rising interest rates will be a major challenge for the market during the forecast period. The interest rates in the US have been rising since 2015. The US Federal Reserve increased the benchmark rates by approximately eight times in September 2018. A rising interest rate discourages borrowing by businesses and individuals and encourages savings. As a result of the rising benchmark rates in the US, the 30-year fixed rate mortgage in the US has increased by 25% between October 2017 and October 2018. This may lead to a reduction in the number of new home loan applications in the US in the forecast timeframe. Apart from this, a lean inventory of existing residences and the rising cost of construction have increased the prices of the existing residences. This is leading to a decline in the sales of the existing residences. The sale of existing residences is an important demand driver for power tools in the US as new owners invest in the modification and beautification of the acquired residence. The benchmark rates in the US are expected to rise further in 2019 due to the stron

The USA power tool market is projected to witness steady growth over the next decade, driven by increasing demand from the construction, automotive, and manufacturing sectors. The market, valued at USD 4,867.3 million in 2025, is expected to reach USD 7,605.1 million by 2035, growing at a CAGR of 4.8%.

Metric	Value
Industry Size (2025E)	USD 4,867.3 million
Industry Value (2035F)	USD 7,605.1 million
CAGR (2025 to 2035)	4.8%

Pennsylvania Power Tools Market Outlook

Country	CAGR (2025 to 2035)
Pennsylvania	4.3%

Florida Power Tools Market Outlook

Country	CAGR (2025 to 2035)
Florida	5.1%

Illinois Power Tools Market Outlook

Country	CAGR (2025 to 2035)
Illionos	4.5%

Texas Power Tools Market Outlook

Country	CAGR (2025 to 2035)
Texas	5.4%

California Power Tools Market Outlook

Country	CAGR (2025 to 2035)
California	5.0%

Competitive Outlook

Company Name	Estimated Market Share (%)
Stanley Black & Decker	25-30%
Bosch	15-20%
Makita	12-16%
Milwaukee Tool (TTI)	10-15%
Hilti	5-9%
Other Companies (combined)	25-35%

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Cordless Power Tools Market Size 2024-2028

The cordless power tools market size is forecast to increase by USD 3.77 billion at a CAGR of 3.78% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. Advancements in battery technology, particularly the increasing adoption of lithium-ion batteries, are driving market expansion. The rise in sales of electric vehicles (EVs) is also contributing to the growth of the market, as the batteries used In these tools can be repurposed for use in EVs. However, the decline In the construction and automobile industries in China, a major market for cordless power tools, may pose a challenge. The integration of microcontrollers and wireless connectivity in cordless power tools is another trend, enabling users to monitor tool performance and battery levels in real-time.
The use of nickel-cadmium and nickel-metal hydride batteries is gradually being replaced by lithium-ion batteries due to their longer battery life, higher energy density, and faster charging times. The travel-friendly and wireless nature of cordless power tools makes them increasingly popular in various industries, including construction and real estate.

What will be the Size of the Cordless Power Tools Market During the Forecast Period?

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The market encompasses a range of material removal tools, including drills, saws, and grinders, that operate without the use of cords, enabling greater mobility and flexibility for both commercial and residential applications. This market has experienced significant growth due to the DIY culture's rise in popularity and the increasing availability of affordable, high-performance battery-operated equipment. The market's size is driven by the demand for power tools in various industries, from construction to manufacturing, as well as in DIY projects. Two primary motor types dominate the market: brushed and brushless. Brushless motors offer advantages such as longer battery life and increased efficiency, making them increasingly popular.
The electrical system of these tools relies on rechargeable batteries, with lithium-ion and nickel-cadmium (NiCd) being common choices. The adoption of cordless power tools is also influenced by trends in other industries, such as the increasing popularity of electric vehicles (EVs), which share similar battery technology. Retailers cater to this demand, offering a wide range of cordless power tools and other portable power tools to meet various budgets and project requirements. Overall, the market is expected to continue growing, driven by advancements in battery technology and the increasing preference for labor-saving equipment.

How is this Cordless Power Tools Industry segmented and which is the largest segment?

The cordless power tools industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Professional
  Consumer


Type

  Brushed motors
  Brushless motors


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By End-user Insights

The professional segment is estimated to witness significant growth during the forecast period.

Cordless power tools have gained significant traction in both commercial and residential activities due to their convenience and versatility. The professional segment, which includes industrial end users, accounts for a larger market share than the DIY consumer segment. Professionals prioritize durability, functionality, and efficiency In their tool selection, often opting for more expensive, high-performance cordless power tools. Brushless motors and lithium-ion batteries are popular choices for their extended runtimes and power output. The trend towards multifunctional tools continues, with professionals seeking tools and power tool accessories that can perform multiple tasks, such as drills, impact wrenches, and nut runners. Industrial applications, including demolition and precision parts manufacturing, require heat guns and drillers, respectively.

The adoption of cordless power tools is also seen In the automotive industry for vehicle maintenance and repair. The electrical system of electric vehicles (EVs) and e-communication devices also utilize cordless power tools for manufacturing and assembly processes.

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The Professional segment was valued at USD 12.85 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 31% to the growth of the global market during the forecast period.

T

The Power Tools Market is segmented By Mode of Operation (Electric (Cordless, Corded), Pneumatic, Other Modes of Operations), By Product (Wrenches, Grinders, Drills, Saws, Other Products), By Application (Industrial, Residential), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The report offers market size and forecasts for the Power Tools Market in value (USD billion) for all the above segments.

In 2020, the commercial power tools market size was estimated at 23.4 billion U.S. dollars worldwide. In that same year, the global power tool market was valued at over 36.4 billion U.S. dollars. Power tools like drills, grinders, and saws are devices activated by a power source.

In 2019, power tools sales amounted to 16.1 billion U.S. dollars worldwide. By 2024, the global power tool market is forecasted to exceed 20 billion U.S. dollars in sales. Power tools like drills, grinders, and saws are devices activated by a power source.

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Portable Power Tools Market Size 2024-2028

The portable power tools market size is forecast to increase by USD 7.74 billion at a CAGR of 4.9% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. The increasing demand for DIY building projects and home improvement initiatives is driving the market's expansion. Moreover, the integration of smart technologies in portable power tools is making them more efficient and user-friendly, further boosting their popularity. Additionally, the low penetration of portable power tools in developing and emerging countries presents a vast opportunity for market growth. These countries have a large untapped consumer base, and as their economies develop, the demand for portable power tools is expected to increase. The market is expected to witness steady growth In the coming years, with these trends shaping its future trajectory.

What will be the Size of the Portable Power Tools Market during the Forecast Period?

Request Free SampleThe market experiences a surge in demand due to the DIY trend and the convenience of doorstep delivery through e-commerce platforms. The market's size is significant, with the residential segment being a major contributor. Emerging economies also contribute to the market's growth, driven by increasing disposable income and urbanization. Battery-powered power tools, particularly those using lithium-ion batteries, are gaining popularity due to their cost-effectiveness and environmental friendliness. The automotive sector and wind energy industry are key end-users, with applications ranging from manufacturing automotive components to constructing wind turbines. The market is characterized by continuous innovation, with trends including how-to content on video streaming sites and the development of power switches, drill bits, and other accessories.The use of raw materials such as steel, plastic, and rubber in portable power tools is a significant factor In their production costs. Noise pollution reduction and longer battery life are key focus areas for manufacturers.

How is this Portable Power Tools Industry segmented and which is the largest segment?

The portable power tools industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ProductCordless toolsCorded toolsApplicationCommercialConsumerGeographyNorth AmericaUSEuropeGermanyUKAPACChinaJapanSouth AmericaMiddle East and Africa

By Product Insights

The cordless tools segment is estimated to witness significant growth during the forecast period. Portable cordless power tools have gained significant traction in various industries due to their mobility and versatility. These tools, which include drill machines, circular saws, and hand tools such as screwdrivers, axes, and spanners, can perform tasks equivalent to their corded counterparts. The DIY trend and doorstep delivery have driven the demand for cordless power tools among hobbyists and first-timers. Professionals, including electricians, plumbers, auto mechanics, and service engineers, also prefer cordless tools for their convenience. The power tool market is witnessing innovation with the adoption of lithium-ion batteries, which offer longer runtime and higher charge storage capacity than nickel-cadmium batteries.Industrialized nations and emerging economies In the metal fabrication industry, automotive sector, wind energy industry, and construction sectors are major consumers of cordless power tools. Automation and industrial processes have led to the fragmentation of the power tool market, with e-commerce platforms offering a wide range of cordless equipment at competitive prices and discounts. Occupational safety and personal protective equipment are essential considerations for users, while cost-cutting measures and operational models are crucial factors for manufacturers. The power tool market's USPs include energy efficiency, cost savings, and reduced noise pollution. Lithium-ion batteries, power switches, and IoT devices are key components of cordless power tools.The market's growth is driven by the increasing demand for cordless equipment in industrial and professional applications.

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The Cordless tools segment was valued at USD 17.14 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in

The U.S. power tool market was finally on the rise to reach $8.1B in 2024, after two years of decline. In general, the total consumption indicated a perceptible expansion from 2012 to 2024: its value increased at an average annual rate of +2.4% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -13.9% against 2021 indices.

In 2020, the power tools market size was estimated at approximately 36.5 billion U.S. dollars worldwide. By 2027, this market is forecasted to exceed 50.9 billion U.S. dollars in size. The region with the highest production of power tools is Asia-Pacific.

This industry manufactures power-driven (e.g. battery, corded, pneumatic) hand tools including drills, circular saws, chain saws and nail guns. Operators that manufacture such tools may also sell spare or replacement parts. This industry excludes operators that exclusively sell parts, power-driven heavy construction hand tools (e.g. tampers, jackhammers), powered pumps and vacuums, outdoor powered equipment (e.g. lawnmowers, power washers) and machine tools for woodcutting.

In 2020, the Mexican power tools market size was estimated at 745.6 million U.S. dollars. By 2027, the power tools market in this country is forecasted to exceed 1.1 billion U.S. dollars.

The global power tool gears market is estimated to reach US$ 5.63 Billion in 2022. Increasing usage of power tools for woodworking and metal fabrication operations across the building and construction sector is favoring the growth in the market.

Attribute	Details
Power Tool Gears Market Estimated Size in 2022	US$ 5.63 Billion
Power Tool Gears Market Projected Size in 2030	US$ 8.38 Billion
Power Tool Gears Market Historical CAGR (2015 to 2021)	3.0%
Power Tool Gears Market Value-based CAGR (2022 to 2030)	5.1%

How The Market Progressed Till June 2022?

Market Statistics	Details
H1,2021 (A)	4.5%
H1,2022 Projected (P)	4.8%
H1,2022 Outlook (O)	4.7%
BPS Change : H1,2022 (O) - H1,2022 (P)	(-) 9 ↓
BPS Change : H1,2022 (O) - H1,2021 (A)	(+) 24 ↑

Scope of the Report

Attribute	Details
Forecast Period	2022 to 2030
Historical Data Available for	2015 to 2021
Market Analysis	US$ Billion for Value
Key Regions Covered	North America, Latin America, Europe, South Asia and Pacific, East Asia, Middle East & Africa
Key Countries Covered	USA, Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa
Key Segments Covered	Gear Type, Application, End User, and Region
Key Companies Profiled	Porite Group hGears Zhejiang Oliver manufacturing Gear Co. Ltd P&F Industries Zhejiang Fore Intelligent Technology Co., Ltd.
Report Coverage	Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing	Available upon Request

In 2020, the UK power tool market size was estimated at approximately 1.9 billion U.S. dollars. By 2027, the power tool market in this country is projected to reach just over 2.5 billion U.S. dollars.

According to Cognitive Market Research -"Global Cordless Power Tools market size 2023 was XX Million. The cordless Power Tools Industry compound annual growth rate (CAGR) will be XX% from 2024 till 2031."

Based on type the Cordless Power Tools market is divided into five segments: Drilling and Fastening Tools, Sawing and Cutting Tools, Demolition Tools, Material Removal Tools, Routing Tools, Other tools.The market leader in the world, drilling and fastening tools, is expected to grow at a compound annual growth rate (CAGR) of XX% during the course of the forecast period.
The inexpensive, battery-operated, single-speed-only brushed motor category held a dominant position in the global cordless power tool market in 2032. Their popularity is further aided by their straightforward design and capacity to function without an electronic motor circuit or needless speed regulation
12V, 18V, 20V, 40V, and 40V & above are the several battery segments that make up the global market for cordless power tools. The 12V cordless power tool market held the biggest share in 2022.
Based on end-users, the global cordless power tools market is divided into industrial, commercial, and residential end-users. The market's largest contributor, the industrial segment, is anticipated to grow at a compound annual growth rate (CAGR) of XX% during the projected period.
With a predicted CAGR of XX% throughout the course of the forecast period, North America is expected to hold the largest share of the worldwide cordless power tools market.

Market Dynamics

Key Drivers of Cordless Power Tools Market

Increase in DIY culture leading to increased adoption of cordless power tools

The majority of adults engage in creative and intentional leisure activities in certain developed economies in the US and Europe. Some customers may spend money on home maintenance and repairs, depending on their hobbies. DIY projects are popular hobbies among consumers in France, Germany, Italy, and the UK. South Africa, Brazil, and India are among the developing economies where the idea is gaining traction. Furthermore, homeowners frequently engage in skill-building and improvement projects that are both economical and beneficial. Additionally, DIY projects are offered by hypermarkets, supermarkets, and other specialist retailers like Home Depot, which propels the DIY tool market and ultimately increases demand for cordless power tools. As per the 2023 Global Do-It-Yourself Summit, the way people shop has drastically changed throughout the past two years. E-commerce has grown significantly in the last several years, particularly as millennials and Gen Z enter their prime spending years. Additionally, the COVID-19 pandemic sped up the growth of this retail channel, and although foot traffic to physical stores is increasing, the e-commerce channel has taken on new significance. The DIY and home renovation industries are also being digitalized. Though they have been less affected than other industries, like the fashion industry, do-it-yourself and home improvement also face a digital future

The growth of the construction industry leads to higher demand of power tools favouring the market growth

The construction sector grows as a result of increased construction activity worldwide. The demand for advanced infrastructure development is being driven by several factors, including the growing population in both established and emerging nations, fast urbanization, and an increase in the number of residential and commercial construction projects. In the construction business, hand and power tools are essential for job performance, according to LibreText Workforce.org. Workers who use power and hand tools must be trained in the safe use of each tool they are required to use because they are exposed to hazards. They also need to be instructed on how to take the appropriate safety measures and to recognize the risks that are involved. For instance, according to the Associated General Contractors (AGC) of America, Inc., construction is a major contributor to the U.S. economy. There were more than 919,000 construction establishments in the U.S. in the first quarter of 2023. In addition, as per the Invest India report, the construction industry in India is expected to reach $1.4 Trillion by 2025. Projects about the construction of roads, railroads, airports, electricity, utilities, and residential and commer...

In 2019, North America was the largest market in terms of power tools sales amounting to 7.6 billion U.S. dollars. By 2024, sales in this market are forecasted to exceed 10 billion U.S. dollars.

India Power Tools Market size is expected to reach valued at US$ 1.3 billion in 2030. Market by Indications, by Distribution Channels and Region

In 2020, the global drills market was valued at more than 9.8 billion U.S. dollars. The total global power tools market was valued at approximately 36.47 billion U.S. dollars in that year.

The Power Equipment Market is Segmented by Equipment Type (Generator, Transformer, Switchgear, Circuit Breakers, Power Cable, and Others), Power Generation Source (Fossil Fuels, Solar, Wind, Nuclear, and Hydro), End User (Residential, Industrial, Commercial, and Utility), Application (Power Generation and Transmission and Distribution), and Geography (North America, Asia-Pacific, Europe, South America, the Middle East, and Africa). The report offers market size and forecasts for the power equipment market in revenue (USD ) for all the above segments.

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Compact Power Equipment Rental Market Size 2024-2028

The compact power equipment rental market size is forecast to increase by USD 2.09 billion at a CAGR of 6.3% between 2023 and 2028.

The market in North America is witnessing significant growth due to the expansion of the construction industry. The integration of advanced technologies such as telematics, fuel cells, batteries, and transformers in compact power equipment like pumps, generators, compressors, bulldozers, and power tools is driving the market growth. These technologies enhance equipment efficiency, reduce operational costs, and improve safety. However, operational challenges associated with compact power equipment rentals, including maintenance, transportation, and fuel management, continue to pose challenges for market growth. Influencers like HVAC, lighting, and HVACR industries are also adopting compact power equipment to meet their energy needs. The market is expected to witness further growth with the increasing demand for eco-friendly and cost-effective power solutions.

What will be the Size of the Market During the Forecast Period?

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The market encompasses a diverse range of machinery and tools, including engine-driven and electric power tools such as drills, polishers, woodwork routers, and screw drivers. This market plays a vital role in infrastructure development and maintenance by providing lightweight, efficient solutions for construction projects and various industries. The market's size is significant, with continuous growth driven by the increasing demand for specialized equipment that offers improved performance, lower emissions, and enhanced functionality. Rental services for generators, compressors, and other power equipment are increasingly popular due to their cost-effectiveness and convenience. Equipment tracking systems and online platforms, along with mobile applications, facilitate seamless rental processes and efficient inventory management.
The transition towards electric equipment, such as those powered by batteries, electricity, and fuel cells, is gaining momentum due to their environmental benefits and the advancements in electric motors, transformers, and battery technology. Overall, the market is a dynamic and evolving landscape that caters to the ever-changing needs of various industries and construction projects.

How is this Compact Power Equipment Rental Industry segmented and which is the largest segment?

The compact power equipment rental industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Electric power tools rental
  Engine-driven power tools rental
  Pneumatic power tools


Type

  Period rental
  Rent to own
  On-demand rental


Geography

  North America

    US


  Europe

    Germany
    France


  APAC

    China
    Japan


  Middle East and Africa



  South America

By Product Insights

The electric power tools rental segment is estimated to witness significant growth during the forecast period.

The market has experienced significant growth due to the increasing focus on environmental sustainability and the reduction of carbon emissions. Electric power tools, a key segment of this market, offer lower emissions and reduced noise levels compared to engine-driven alternatives. This makes them an attractive option for urban and noise-sensitive environments, driving demand, particularly in residential and commercial settings. Electric power tools are also lighter, easier to handle, and require less maintenance, making them suitable for a wide range of users, including DIY enthusiasts, contractors, and professionals. Rental services provide an accessible solution for end-users to utilize eco-friendly equipment without the long-term commitment of ownership.

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The electric power tools rental segment was valued at USD 2.24 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 31% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

The North American market is driven by the growth In the construction industry, particularly In the US. Despite federal spending cuts, the industry is projected to expand due to low housing loan interest rates and a pipeline of infrastructure projects. In Canada and Mexico, similar positive trends are anticipated. Infrastructure development is a