Cordless Power Tools Market Scope
Cordless Power Tools are light weight, high power tools which enhance mobility. The mobility and light weight factor of the tools makes it perfect for use compact places and for longer duration. The use of modern light weight lithium ion batteries has also aided in extending the power of such tools. With rapid urbanization, and industrialisation as well automation, this tools will be in high demand over the coming years.
The Cordless Power Tools market study is segmented by Type (Drilling Tools, Cutting Tools, Screw drivers, Caulking Gun, Oscillating Tools and Others), by Application (Residential Application, Construction Field, Industry Field and Gardening Field) and major geographies with country level break-up.
The industry of Cordless Power Tools is fragmented and has high competition among the players. Although the dominant most players in this industry are Stanley Black & Decker, Inc., Robert Bosch GmbH and TTI, Inc. With low cost, low quality cordless powerless tools manufacturers from China, being the main threat to the growth of existing players in the market. Overall with the growth of automotive industry, increase in construction activities and increase in automation will drive the industry of cordless power tools to a promising successful future.
Stainley Black and Decker (United States), Robert Bosch GmbH (Germany), Makita Corapotaion (Japan), Hitachi Ltd. (Japan), Hilti Corporation (Liechtenstein), Metabo HPT (United States), Techtronic Industries (Honk Kong), Apex Tool Group (United States), Koki Holdings (Japan), Husqvarna (Sweden) and Ingersoll rand (Ireland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Atlas Copco (Sweden) and Snap-on Incorporated (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Cordless Power Tools market by Type, Application and Region.
On the basis of geography, the market of Cordless Power Tools has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In 2019, Makita Corporation, one of the market leaders in power tools segment announced acquisition of Amadera Pneumatics Co., Ltd., specialist in manufacturing of air compressors. Makita looks to expand its offerings and its portfolio in pneumatic tools with the completion of this acquisition.
- Augmented Automation and Use of Robotics in Various Industry has Increased the Investment in Cordless Tools
- Industry is Adopting Lithium Ion Batteries in Place of Nickel Cd Batteries Because of Small Size and Higher Energy Density
- Rapid Industrialization has increased the Investment in Mobile Tools
- Increasing Construction Activities has Also Increased the Demand for Such Tools
- Raised Income of Middle Income Households, has Improved their Living Standards and thus Increased Demand for Furniture
- Growth of Automotive Industry Also Led to Rise of Cordless Power Tools
- Increased Income Expenditure Has Created Demand for Residential Activities Preference for Buying Small Power Tools For Personal Tools in Urban Areas Has Created Opportunity for the Market
- High Costs of Cordless Tools
- Requirement of Maintenance for Wear and Tear of Mechanically Working Parts of Cordless Power Tools on Continue Basis
Key Target AudienceCordless Power Tools Manufacturers, Suppliers and Distributors, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms and End-Use Industries
Frequently asked questions:1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Cordless Power Tools Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2025.