Aug 3, 2021 SOURCE: BusinessWire

Global Cordless Power Tools Market (2021 to 2026) - Featuring Robert Bosch, Techtronic Industries and Makita Among Others - ResearchAndMarkets.com

The "Cordless Power Tools Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global cordless power tools market by revenue is expected to grow at a CAGR of over 10.54% during the period 2020-2026.

APAC is the fastest-growing market for cordless power tools and is expected to grow at the highest CAGR during the forecast period. Rapid industrialization and increasing applications in household and commercial sectors are primarily driving the cordless power tools market growth. These tools are used mainly in automobile, aerospace, construction, electronics, and shipbuilding industries. They also have several household applications such as removing paint, soldering wire, and thawing pipes. The increased demand for Lithium-ion batteries and the rise in infrastructural developments surge the demand for these tools. The extensive use of battery-driven tools has increased the use of cordless power tools. The ban of NiCd batteries in power tools has increased the application of lithium-ion batteries in these tools. Furthermore, the proportion of cordless tools has increased in smaller power tools categories such as angle grinders, circular saws, and reciprocating saws.

The following factors are likely to contribute to the growth of the cordless power tools market during the forecast period:

The rise in Demand for Industrial Heat Guns
Increased Prominence of Asian Manufacturing
Industry 4.0 and Smart Precision Manufacturing
Advances in Li-ion Batteries

The study considers the global cordless power tools market's present scenario and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Insights by Vendors

The global market is characterized by low market concentration, with high competition among players. Currently. These vendors have a global presence in three major regions - North America, APAC, and Europe. The present scenario drives vendors to alter and refine their unique value propositions to achieve a strong market presence. The competition is expected to intensify further with increased product extensions, growth in technological innovations, and an increase in merger and acquisition activities.

Key Questions Answered:

1. What would be the value of the global cordless power tools market by 2026?

2. Which are the major industries that use cordless power tool equipment?

3. Which region holds the maximum market share of the global cordless power tools market?

4. Who are the leading players in the power tools market?

5. What are the key factors and trends enabling market growth?

Market Dynamics

Opportunities & Trends