The Cordless Power Tools Market Share was valued at USD 17.34 billion in 2022. It is projected to reach USD 36.99 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.93% during the forecast period from 2023 to 2030.
Cordless power tools have witnessed significant growth in recent years, driven by advancements in technology and increasing demand from various industries. The market's substantial value in 2022 reflects the widespread adoption of these tools across different sectors.
Looking ahead, the cordless power tools market is expected to experience robust growth, primarily due to the rising need for efficient and portable tools in construction, automotive, and manufacturing industries. The convenience offered by cordless power tools, eliminating the need for cumbersome cords and power outlets, has made them increasingly popular among professionals and DIY enthusiasts alike.
Furthermore, the market's projected CAGR of 9.93% indicates a steady and sustainable growth trajectory over the forecast period. This growth can be attributed to factors such as technological advancements, increasing investments in research and development, and the continuous introduction of innovative products by key market players.
Geographically, the market for cordless power tools is expected to witness significant growth across regions such as North America, Europe, Asia Pacific, and the rest of the world. These regions are witnessing rapid industrialization and infrastructure development, driving the demand for cordless power tools.
In conclusion, the cordless power tools market is poised for substantial growth in the coming years. With increasing adoption across industries and continuous technological advancements, the market is expected to reach a value of USD 36.99 billion by 2030, growing at a CAGR of 9.93% during the forecast period from 2023 to 2030.
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KEY MARKET SEGMENTATION
By Motor Type
- Brushed Motor
- Brushless Motor
By Material Removal Tools
- Sanders
- Grinders
By Tools
- Drills
- Saws
- Lawn Mower
- Impact Wrench
- Others
By End User
- Industrial
- Commercial
- Residential
Key Players
The major key players are Apex Tool Group, Atlas Copco AB, Hilti Corporation, Ingersoll-Rand PLC, Hitachi Ltd., Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black and Decker, Techtronic Industries, Koki, Holdings, Emerson, Panasonic, Fortie, CHEVRON, Positec. and Other Players.
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Table of Contents
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Cordless Power Tool Market Segmentation, by Motor Type
- Cordless Power Tool market, by Material Removal Tools
- Cordless Power Tool Market Segmentation, by Tools
- Cordless Power Tool Market Segmentation, by End-use
- Regional Analysis
- Company Profile
- Competitive Landscape
- Conclusion
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