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

The US cordless power tools market size was valued at USD 5.84 billion in 2023 and is expected to reach USD 7.87 billion by 2029, growing at a CAGR of 5.11% during the forecast period.

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%

Snapshot img

Power Tools Market Size 2025-2029

The power tools market size is forecast to increase by USD 17.09 billion at a CAGR of 7.4% between 2024 and 2029.

The market is experiencing significant growth, driven by the increase in global construction and infrastructure development activities. This trend is particularly notable in the adoption of portable power tools, which offer increased efficiency and productivity on worksites. A key trend shaping the market is the integration of smart technologies into power tools, enabling advanced features such as remote monitoring, diagnostics, and energy management. However, the market faces challenges from the volatility in prices of raw materials used in power tool production, including steel, copper, and batteries.
This price instability can impact both manufacturers and consumers, necessitating strategic supply chain management and pricing strategies. Companies seeking to capitalize on market opportunities should focus on innovation, particularly in the areas of battery technology and smart tool integration, while also addressing the challenges of raw material price volatility through strategic sourcing and supply chain optimization. Air compressors and various power tool accessories further expand the market's scope, addressing the evolving needs of professionals and DIY enthusiasts alike.

What will be the Size of the Power Tools Market during the forecast period?

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The market exhibits dynamic trends, with noise reduction and ergonomic grip gaining significant attention from businesses. LED worklights enhance visibility during use, while spare parts availability ensures uninterrupted operations. Recyclable materials and tool-free adjustments contribute to sustainability and efficiency. Trigger lock and blade depth adjustment provide user convenience, and dust extraction systems minimize mess. Carrying cases offer portability, while kickback protection ensures safety. Air flow rate and repair services are crucial for maintaining tool performance. Product lifecycle management and maintenance intervals optimize tool usage.
Vibration dampening and variable speed control reduce operator fatigue. Clutch settings and energy efficiency enhance productivity. Router bit diameter, air pressure, and impact rate impact tool performance. Grinding wheel size and laser guidance facilitate precise work. Charger compatibility and blade guard ensure tool compatibility and safety. Cutting capacity and planer cutting depth enable larger projects.

How is this Power Tools Industry segmented?

The power tools industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Industrial
  Residential


Technology

  Electric
  Pneumatic
  Others


Product

  Drills
  Saws
  Grinders
  Others


Distribution Channel

  Offline
  Online


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By End-user Insights

The industrial segment is estimated to witness significant growth during the forecast period. Power tools, including cordless drills, nail guns, and table saws, play a crucial role in enhancing productivity and efficiency in various industries. The market caters to diverse end-users, with a significant portion being consumed in the industrial sector. Factors such as increasing manufacturing output, technological advancements, and the growing demand for precision and speed drive the market's expansion. Lightweight designs, longer run times, and safety features are essential considerations for industrial power tools. Brushless motors and lithium-ion batteries have revolutionized the cordless power tools segment, offering increased power output and longer run times. Smart tools, such as tool tracking systems and data analysis, are increasingly being adopted for improved productivity and cost savings.

In the industrial sector, power tools are essential for heavy-duty applications in automotive repair, residential building, and commercial construction. Tools like power wrenches, miter saws, circular saws, and reciprocating saws are indispensable for professional trades and DIY projects. Safety features, such as hearing protection and dust collection systems, are essential for ensuring a safe and healthy work environment. Brand reputation, price point, and tool kits are critical factors influencing the purchasing decisions of industrial buyers. Manufacturers continually innovate to meet evolving industry demands, offe

Snapshot img

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 t

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

Based on type, the drilling and fastening tools segment accounted for a major share in the type segment”. Drills, impact wrenches, impact drivers, screwdrivers, and nut runners are among the most widely used cordless power tools. 
In 2023, the electric mode of operation segment generated the most revenue, accounting for approximately XX%. 
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. The market's largest segment, industrial end-users, is expected to maintain its dominance over the course of 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 Power toolsmarket. 
With growing power tool demand in key nations like China and Japan, the Asia Pacific market is expected to develop at the fastest rate over the projected period

Current scenario of power tools market

Key drivers of the power tools market

Increase in DIY culture leading to increased adoption of Power tools sales

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(https://diysummit.org/future-digital-home-improvement/)

The growth of the construction industry leads to higher demand for Power tools favors 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. https://www.agc.org/sites/default/files/users/user21902/CT-US%20construction%20fact%20sheet_92023.pdf

Projects about the construction of roads, railroads, airports, electricity, utilities, and residential and commercial structures are all considered forms of infrastructure development. Construction sites use a variety of power tools, including cordless drills, reciprocation saws, circular saws, jigsaws, and demo...

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

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

The Power Tools Market is Segmented by Mode of Operation (Electric, and Others), by Product (Drilling & Fastening Tools, and Others), by End-User (Construction & Infrastructure, and Others), by Sales Channel (Offline and Online), and by Region (North America, South America, Europe, Asia-Pacific, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

Snapshot img

Portable Power Tools Market Size 2025-2029

The portable power tools market size is forecast to increase by USD 8.4 billion, at a CAGR of 5.1% between 2024 and 2029.

The market is driven by the growing demand for DIY building projects and the integration of smart technologies into these tools. The increasing popularity of home renovation and improvement projects, particularly in developed regions, is fueling the demand for portable power tools that offer convenience, efficiency, and advanced features. These tools enable users to complete projects independently, reducing reliance on professional services and saving costs. However, the market faces challenges in expanding its reach in developing and emerging countries due to the low penetration of portable power tools. Despite the potential for significant growth in these markets, the high upfront costs and limited awareness of the benefits of portable power tools remain significant barriers to entry.
Additionally, the increasing competition from corded power tools and other hand tools, which are often more affordable, further complicates market expansion efforts. Companies seeking to capitalize on market opportunities must focus on developing innovative, cost-effective solutions that cater to the unique needs of these markets while navigating the challenges posed by competition and affordability concerns.

What will be the Size of the Portable Power Tools Market during the forecast period?

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The market continues to evolve, driven by advancements in technology and shifting consumer preferences. Applications span various sectors, including home improvement and construction. Tools, such as welding machines, offer tool-free adjustments for increased efficiency. Run time and power output are crucial factors for cordless drills and power compressors, while lithium-ion batteries ensure longer usage. Variable speed grinding machines and power shears offer precision and versatility, while staple guns and nail guns streamline fastening processes. Smart features, such as app integration and Bluetooth connectivity, enhance user experience. Circular saws and table saws deliver accurate cuts with digital readouts and cutting guides.

Power hammers and power wrenches provide increased torque and control. Safety features, including hearing protection and safety glasses, ensure user safety. Brushless motors offer improved efficiency and longer motor life. Power tool accessories, tool carts, and tool belts cater to the evolving needs of professionals. Power generators and power cutters extend the reach of portable power tools, enabling work in remote locations. Dust collection systems ensure a cleaner work environment. Sanding sheets and LED lights offer added convenience. The ongoing market dynamics continue to unfold, with continuous innovation shaping the future of portable power tools.

How is this Portable Power Tools Industry segmented?

The portable power tools industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Cordless tools
  Corded tools


Application

  Commercial
  Consumer


Distribution Channel

  Offline
  Online


Price

  Mid-range
  Economy
  Premium


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Product Insights

The cordless tools segment is estimated to witness significant growth during the forecast period. In the realm of power tools, cordless models have gained significant traction due to their mobility and versatility. These tools cater to various applications, such as drilling, grinding, polishing, sanding, and screw driving, which were once the exclusive domain of corded tools. Professionals, including electricians, plumbers, auto mechanics, and service engineers, increasingly prefer cordless tools for their convenience, as they eliminate the need for a constant power source. The evolution of cordless power tools has been marked by the widespread adoption of lithium-ion (Li-ion) batteries. These batteries offer extended runtimes and greater charge storage capacity compared to the traditional nickel-cadmium (NiCd) batteries.

Moreover, Li-ion batteries are more environmentally friendly, as they do not contain toxic heavy metals. Tool-free adjustments and quick-change systems have streamlined the use of cordless power tools, making them even more appealing to professionals. Impact drivers, power compressors, and circular saws are among the popular cordless tools that benefit from these features. Furthermore, advancements in technology have led to the integration of smart features, such as app conn

United States Power Tools market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition, Forecast & Opportunities.

Snapshot img

Cordless Power Tools Market Size 2025-2029

The cordless power tools market size is forecast to increase by USD 4.01 billion, at a CAGR of 3.9% between 2024 and 2029.

The market is experiencing significant growth, driven by advancements in battery technology. These innovations have led to increased efficiency, longer runtimes, and improved performance, making cordless tools increasingly popular among consumers and professionals. Another key trend influencing the market is the rise in Electric Vehicle sales, as the same batteries used in EVs are also applicable to cordless power tools, creating synergies and economies of scale for manufacturers. However, the market faces challenges as well. The decline in construction and automobile industries in China, a major market for cordless power tools, poses a significant threat due to the interconnected nature of these industries. Companies must adapt to these market shifts by exploring new applications for cordless tools and expanding their customer base beyond traditional industries. To capitalize on opportunities and navigate challenges effectively, market players should focus on product innovation, strategic partnerships, and market expansion.

What will be the Size of the Cordless Power Tools Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, driven by advancements in technology and shifting consumer preferences. Torque settings and repair services are becoming increasingly important as professionals and DIY enthusiasts demand more precise and durable tools. In the realm of home improvement, cordless drills with variable speed control and longer battery runtimes are gaining traction. The automotive repair sector is also embracing cordless impact wrenches for their superior power and convenience. Safety features, such as hearing protection and safety glasses, are a priority for both professionals and DIY enthusiasts. Power tool accessories, like saw blades and carrying cases, are essential for maximizing the functionality and longevity of these tools. Brushless motors and lithium-ion batteries offer improved efficiency and performance, while overload protection ensures safe operation. The distribution channels for cordless power tools are expanding, with retail sales and online platforms providing greater accessibility. Supply chain management plays a crucial role in ensuring the timely delivery of these tools to meet the growing demand. The market dynamics of this sector are constantly unfolding, with new applications and innovations emerging in various industries.

How is this Cordless Power Tools Industry segmented?

The cordless power tools industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userProfessionalConsumerTypeBrushed motorsBrushless motorsDistribution ChannelOfflineOnlineProduct TypeDrilling and fastening toolsSawing and cutting toolsMaterial removal toolsGarden toolsOthersGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth AmericaBrazilRest of World (ROW)

By End-user Insights

The professional segment is estimated to witness significant growth during the forecast period.The market is driven by the professional segment due to the size and demands of industries such as construction, manufacturing, and automotive. Professionals prioritize quality and durability, leading them to invest in premium cordless power tools. While consumers focus on affordability and convenience, professionals are willing to use pneumatic and hydraulic power tools, despite their high maintenance and ancillary equipment requirements. The trend now leans towards multifunctional tools, integrating features like LED work lights, dust collection, impact force, and variable speed control. Home improvement projects and DIY enthusiasts also contribute to the market, with retail sales and online platforms playing significant roles in distribution. Power tool accessories, including drill bits, saw blades, and safety glasses, are essential components of the market. The supply chain management of raw materials, such as lithium-ion batteries and brushless motors, is crucial for maintaining production and meeting demand. Professional contractors and repair services further fuel the market, with safety features, overload protection, and torque settings being essential considerations. Hearing and eye protection, cut depth, and automotive repair applications also expand the market's scope.

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The Professional segment was valued at USD 13.21 billion in 2019 and showed a gradual increase during the forecast period.

R

Power tool manufacturers have faced a rollercoaster of economic conditions in recent years. The initial boost from low interest rates in 2020 and 2021 spurred residential construction and a surge in DIY projects. This environment offered a lifeline when other construction markets lagged. However, the tide turned in 2022 and 2023 when interest rate hikes chilled the market, hitting consumer confidence and slowing sales. Despite signs of recovery as of late 2024, persistent challenges like high input costs and increasing tariffs have continued to weigh heavily, creating an uncertain landscape as manufacturers navigate volatile market conditions. Despite volatility in residential construction, infrastructure and industrial construction activity have boosted power tool sales, offering some reprieve. Industry revenue has been decreasing at a CAGR of 0.4% over the past five years to total an estimated $4.2 billion in 2025, including an estimated increase of 1.8% in 2025. Manufacturers have continued to endure stiff competition from imports, particularly from China and Vietnam. Tariffs will potentially offer domestic manufacturers some relief as tariffs on these countries are higher than the broad 10.0% tariffs as of July 2nd, 2025. Supply chain woes have hindered profit growth for manufacturers as the price of key inputs has climbed. These supply chain woes have led some companies, like Stanley Black & Decker, to streamline operations to benefit profit, with the company closing various manufacturing and distribution facilities over the past five years, with new closure announcements as recently as 2025. Looking ahead, power tool manufacturers will likely enjoy growth. With sluggish new residential construction early as rates remain high, private spending on home improvements may boost sales to both consumers and professionals working on projects. Tariffs will likely continue to lead to volatility in the prices of steel and aluminum. Manufacturers will likely raise prices to maintain profitability, potentially leading to price-based gains but also potentially disincentivizing downstream demand. Still, higher tariffs on Chinese and Vietnamese goods may take pressure off import penetration. Tariffs may also lead companies to reshore or nearshore operations to Mexico to align with USMCA agreements. Furthermore, a shift toward digital and connected tools presents a chance for manufacturers to capitalize on emerging technological trends. Industry revenue is forecast to climb at a CAGR of 1.9% to total an estimated $4.7 billion through the end of 2030.

In US Power Tools Market, Popular power tool made by one of the top manufacturers of power tools, DeWalt, is the DWE6423K Random Orbit Sander.

• The industry in Asia Pacific was valued at US$ 4.7 Bn in 2023
• It is estimated to grow at a CAGR of 5.2% from 2024 to 2034 and reach US$ 8.3 Bn by the end of 2034

Market Introduction

Attribute	Detail
Drivers	Surge in Adoption in End-use Industries and Product Innovations Rise in Awareness of Worker Safety and Convenience Technological Advancements

Country Outlook of Asia Pacific Cordless Power Tools Industry

Attribute	Detail
Leading Country	China

Asia Pacific Cordless Power Tools Market Snapshot

Attribute	Detail
Market Size in 2023 (Base Year)	US$ 4.7 Bn
Market Forecast Value in 2034	US$ 8.3 Bn
Growth Rate (CAGR)	5.2%
Forecast Period	2024-2034
Historical data Available for	2020-2022
Quantitative Units	US$ Bn for Value and Thousand Units for Volume
Market Analysis	Global qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, SWOT analysis, etc. Furthermore, at the regional level, qualitative analysis includes key trends, price trends, and key supplier analysis.
Competition Landscape	Market Player - Competition Dashboard and Revenue Share Analysis 2023 Company Profiles (Details - Company Overview, Sales Area/Geographical Presence, Revenue, COVID-19 Response, Strategy & Business Overview)
Countries Covered	China India South Korea Taiwan ASEAN Malaysia Singapore Indonesia Philippines Vietnam Thailand Rest of ASEAN Rest of Asia Pacific
Market Segmentation	Product Type Drills Impact Drivers Impact Wrenches Screwdrivers Jigsaws Reciprocating Saws Circular Saws Multi-cutters Shears Angle Grinders Routing Tools Palm Routers Planers Dust Extractors Others Battery Type Nickel Cadmium (NiCd) Nickel Metal Hydride (NiMH) Lithium-Ion (Li-Ion) Motor Type Brushless Motors Brush Motors Motor Speed Upto 1000 rpm 1000-2000 rpm 2000-4000 rpm 4000-6500 rpm 6500-8000 rpm Above 8000 rpm Torque Upto 15 nm 15-35 nm 35-55 nm Above 55 nm Battery Voltage 3.6-10V 11-18V 19-25V 26-36V Battery Capacity 1-1.5 Ah 1.6 Ah - 2 Ah 2 Ah - 5 Ah Above 5 Ah Price Range Low Medium High Application Drilling & Fastening Sawing & Cutting Material Removal Demolition Routing Others End-use Residential Commercial Industrial Automotive & Transportation Aerospace & Defense Construction Others (Electronics, etc.) Distribution Channel Online Offline Direct Sales Indirect Sales
Companies Profiled	Atlas Copco CUMI Deere and Company Eastman Cast and Forge Ltd. Electrex Power Tools Emerson Electric Co. Hitachi Husqvarna iBell Tools JF Tools India KOKI Holdings LSL Tools Private Limited (Xtra) Makita Corporation Planet Power Tools Robert Bosch GmbH Seher Tools & Trade Pvt Ltd.(Yuri) Stanley Black & Decker Techtronic Industries
Customization Scope	Available upon Request
Pricing	Available upon Request

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

Snapshot img

Power Drill Market Size 2024-2028

The power drill market size is forecast to increase by USD 405.9 million, at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth, driven by increased innovations in power drill technology. Advanced features such as brushless motors, cordless functionality, and improved ergonomics are becoming increasingly popular among consumers. The advent of cordless power drills, offering greater mobility and convenience, has led to a shift away from traditional corded models. However, high maintenance costs associated with cordless drills, particularly in terms of battery replacement, pose a challenge to market growth. Overall, the market is expected to continue expanding, fueled by consumer demand for efficient, powerful, and versatile tools.

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

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Market Dynamic and Customer Landscape

The market has experienced significant growth in recent years, particularly in the DIY segment and the commercial automotive sector. Lockdowns due to the global pandemic have led to an increase in home improvement projects, driving demand for cordless Power Drills. Key players in the market include Bosch, Dewalt, Stanley Black & Decker, and others. Their Flexvolt battery and Li-ion batteries have been influential in the market's growth. Technological features such as Extreme protection technology and mobility have been emphasized in new product launches. The market is diverse, catering to various applications on Walls, Surfaces, and for Nails and Screws. PEST analysis reveals that the Demand side is driven by DIY trends and the Supply side is influenced by advancements in battery technology. Cordless Power Drills have gained popularity due to their convenience and rechargeable batteries. Brands like Bosch, Dewalt, and Stanley Black & Decker offer a range of Cordless Power Drills with advanced technological features. The markets continue to evolve, offering consumers efficient and reliable solutions for their home improvement and commercial projects.

Key Market Driver

Increased innovations in power drills through advanced technologies is notably driving market growth. The market has witnessed significant advancements in response to the evolving needs of consumers in various sectors, including the automotive industry and DIY applications. Lockdowns and mobility restrictions have led to an increase in demand for cordless power tools and electric fastening devices for construction and manufacturing projects. Market competitors, such as Hilti, Panasonic, Stanley Black and Decker, Robert Bosch, and Techtronic Industries, have responded by introducing technologically advanced power drills with features like variable speed, LED spotlights, and Li-ion rechargeable batteries.

For instance, Makita's power drills incorporate extreme protection technology (XPT) for enhanced resistance to dust and water in harsh job site conditions. PEST analysis reveals that regulations and industry landscape are key factors shaping the market. Organic growth strategies, such as product innovation and improved technological features, and inorganic growth strategies, like mergers and acquisitions, are driving market competition. Traditional power drills, including impact and corded models, continue to coexist with their cordless counterparts, with the latter gaining popularity due to their mobility and lower maintenance costs. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

The advent of cordless power drills is the key trend in the market. The market has experienced significant growth in recent years, particularly in the cordless power drill segment. This trend is driven by the increasing demand for mobility and convenience in various sectors, including the automotive industry for passenger and commercial cars, and the DIY market. Manufacturers such as Bosch, Dewalt, Stanley Black & Decker, and others are shifting their focus towards cordless power drills, which utilize advanced technological features and extreme protection technology, along with rechargeable lithium-ion batteries. The corded power drills market is witnessing a decline due to the numerous advantages of cordless power drills, including portability, no requirement for a power supply, and lower maintenance costs. The market landscape is undergoing significant changes, with regulations playing a crucial role in shaping the industry. PEST analysis reveals that the demand side is being driven by the construction sector's developing needs, while the supply side is being influenced by manufacturing advancements and technology.

Organic growth strategies, such as product innovation and improved customer service, are being adopted by key players to sustain their market position. Inorganic gro

The industry has shown steady growth over the past five years. Companies across the industry benefited from consistent demand in construction, manufacturing and home improvement, which supported revenue expansion. Shifts in consumer preferences toward cordless and battery-powered tools influenced product lines and encouraged innovation. Expansion in the housing and commercial construction markets boosted downstream demand for power tools and related machinery. Growing infrastructure initiatives also contributed to stable orders for machinery manufacturers. International demand remained healthy, particularly from emerging markets importing US-made equipment. Low interest rates early in the period provided a foundation for equipment purchases in construction and industrial markets. Labor shortages in manual trades prompted a shift toward more automated and advanced machinery among contractors and businesses. Fluctuations in raw material prices affected profit for many companies, but continued investment in manufacturing technology helped manage costs. Over the past five years, larger companies have invested in robotics and automation, expanding product offerings to appeal to professionals and consumers seeking higher efficiency and safety. Fluctuating steel and electronic component prices created challenges for cost management, but companies improved operational efficiencies with leaner manufacturing practices and digital supply chain management, boosting profit. The industry continued to benefit from favorable trade conditions with Canada and Mexico under the United States-Mexico-Canada Agreement signed in 2020, supporting machinery exports. Competitive pricing pressures influenced market share among established brands and smaller manufacturers as both segments responded with expanded warranty options and customer support. Companies that diversified their product lines and regions of operation tended to secure more stable revenue streams, mitigating the risk associated with reliance on single markets. Power Tools and Other General Purpose Machinery Manufacturing industry revenue has been expanding at a CAGR of 2.0% over the past five years and is expected to total $62.5 billion in 2025, when revenue will jump by an estimated 1.5%. Over the next five years, industry performance will align closely with broader US construction and manufacturing trends. Federal and state infrastructure investment expansion will spur demand for general-purpose and specialized machinery. Ongoing urbanization and population growth in key regions will translate to a greater need for new housing and commercial buildings. Digital integration in machinery will become more widespread, with sensor-based monitoring and remote diagnostics moving to the forefront of new product releases. Although uncertainties in international trade policy may lead to changes in export demand, favorable currency movements could help maintain competitiveness abroad. Persistent labor shortages in construction and skilled trades will push end-users toward automated and labor-saving machinery options. Growth in e-commerce channels will expand market reach, allowing manufacturers to connect directly with contractors and consumers. Larger companies will strengthen their positions by leveraging new manufacturing processes, improving distribution networks and capitalizing on advanced features in machinery design to increase market share. Power Tools and Other General Purpose Machinery Manufacturing industry revenue is expected to expand at a CAGR of 2.0% to $69.0 billion over the five years to 2030.

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

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Power Tool Accessories Market Size 2024-2028

The power tool accessories market size is forecast to increase by USD 577.7 million at a CAGR of 3.84% between 2023 and 2028. The market is experiencing significant growth due to various driving factors. One of the primary factors is the increase in sales of passenger cars, leading to a rise in DIY automotive repairs and home improvement projects. Another trend influencing the market is the increased integration of the Internet of Things (IoT) in manufacturing processes, enabling the production of smart power tools and accessories. However, the market faces challenges, including the decline in construction and automobile sales in China, a major consumer market, which may impact the demand for power tools and their accessories. Despite these challenges, the market is expected to grow steadily, driven by technological advancements and the increasing popularity of cordless power tools.

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The market is a significant segment of the power tools industry, encompassing a wide range of products used for cutting, drilling, sanding, and polishing on various surfaces, including wood and metal. Key accessories include drill bits, screwdrivers, router bits, abrasive wheels, saw blades, chippers, threading products, and fabricated metals or stamped metal products. Fasteners are another essential accessory category. Accessories for cutting and drilling tools include drill machine bits such as drill bits, circular saw blades, jig saw blades, band saw blades, reciprocating saw blades, and milter saw blades. Springs are used in various power tools for their mechanical advantage.

Moreover, cordless power tools, driven by lithium-ion (Li-ion) batteries, have gained popularity in both professional and consumer markets. Sanding and polishing accessories include sandpaper, abrasive pads, and buffing pads made of rubber. Accessories for professional use often cater to heavy-duty applications in mass townships and public construction projects.

Market Segmentation

The market 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.

End-user

  Professional
  Consumer


Type

  Drill bits
  Screwdriver bits
  Router bits
  Others


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By End-user Insights

The professional segment is estimated to witness significant growth during the forecast period. The global market encompasses a wide range of products, including Drills, Screwdrivers, Router bits, abrasive wheels, Saw blades, Chippers, Threading products, and various types of bits and blades for Fabricated metals and Stamped metal products. These accessories cater to the demands of both the professional and consumer segments. In the professional sector, the construction, manufacturing, aerospace, and logistics industries drive the market due to their extensive use of power tools and accessories. Professionals prioritize quality and durability over cost, leading to a higher demand for accessories for Cordless power tools, Lithium-ion batteries, Hammer drills, Impact wrenches, Circular saws, and other power tools.

Moreover, the professional segment also shows a preference for pneumatic and hydraulic power tools, necessitating a significant demand for their corresponding accessories. Additionally, the adoption of smart technologies, energy-efficient power tools, and urbanization trends further boosts the market growth. The market for Sanding and Polishing, Cutting, and Drilling accessories is expected to witness substantial growth due to the increasing demand for these power tools in various industries.

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The professional segment was valued at USD 938.60 million in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 38% 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 is witnessing significant growth due to the increasing demand for renovation and construction activities in both residential and commercial sectors. The market is witnessing demand from various end-user industries such as housing, public construction projects, renewable energy, telecommunications, and mass townships. Metal surfaces, particularly in high-rise buildings and infrastructure projects, are major consumers of power tool accessories, driving the market's growth. Router machi