| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 8.00 % |
| Fastest Growing Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Power Tools Market Analysis
The Power Tools Market is expected to register a CAGR of greater than 8% during the forecast period.
- Power tools are easily available in the market via both online and offline modes of distribution. These are easy to operate, are available in a wide array of shapes, and offer greater precision in operations. A rising number of small and medium-scale end users increasingly understand the importance of power tools.
- The drills segment accounted for the largest revenue share in 2022. Ease of operations and cost-effectiveness are some of the key factors, owing to which demand for the drill is increasing in both residential and industrial applications, thereby driving revenue growth of the segment.
- The Asian-Pacific market accounted for the largest revenue share in the market due to rapid industrialization, urbanization, and industrial developments, which are some of the primary factors significantly driving revenue growth of the market in this region.
- Taparia Tools Ltd, which is a 53-year-old manufacturer and exporter of precision quality hand tools, is increasing manufacturing facilities for the production of hand tools and is a part of the IndoMach Industrial and Machinery Expo 2022 at Hyderabad(India) with a focus on collaborating with new distributors for growing business while displaying existing with improved products.
Power Tools Market Trends
Rise in Global Construction and Infrastructure Development Activities
The global construction industry is expected to grow from USD 15.17 trillion in 2022 to USD 18.96 trillion in 2024. The APAC region accounts for around 40% of the market, followed by Europe and North America. Countries such as the United States and India aim to invest considerably in infrastructure development.
Significant technical breakthroughs in infrastructure development, as well as rising demand for low-carbon, ecologically friendly structures, are additional major drivers driving the global construction industry forward. Another factor projected to boost construction industry growth is better economic circumstances in emerging nations, which leads to more consumer disposable income and increasing government investment in public infrastructure.
One of the primary reasons driving market expansion is the rising need for public infrastructure in emerging markets like Brazil, Russia, India, China, South Africa, and the nations of the Cooperation Council for the Arab States of the Gulf. The two most populous countries, China and India, also have the fastest-growing economies. Governments have been forced to invest more in infrastructure development due to rising populations and urbanization.
Australasia has made the most significant recovery from the pandemic. The region's score on GlobalData's Construction Project Momentum index has when it comes to infrastructure projects, going from an average of 0.47 at the height of the pandemic (March-December 2020) to 1.25 in January 2022. North-East Asia has seen the greatest improvement, with its score on the index rising from 0.33 in December 2021 to 0.64 in January 2022.
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Increasing Demand of Power Tools in The Automotive and Manufacturing Industries
Manufacturers in high demand during the pandemic must devise unique solutions to meet customer satisfaction while protecting employees. Paper providers have experienced a 20% spike in orders during the epidemic, with anxious people stockpiling toilet paper for fear of being trapped indoors without it.
The majority, 65%, are looking to new technology, such as data analytics, to help them adjust to surges in demand and guarantee their manufacturing is more efficient and adaptable. Over 40% of those attempting to use technology to achieve capacity gains cited gaps in their technology and a lack of competent labor as hurdles.
EV demand to increase at its current rate, the industry would require 200 new giga-factories by 2030, in addition to the 130 giga-factories that now exist, totaling more than USD 400 billion in deployed capital. Several of the new factories would very certainly be located near Manufacturers to cut lead times and inventory needs. Furthermore, because battery cells can cost more than USD 7,000 per car, the pipeline inventory value for globally supplied batteries would be quite significant.
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Power Tools Industry Overview
The power tool industry is extremely competitive, with the top five competitors holding close to 75.1% of the market. The market is divided into two sections: the bottom of the pyramid, which includes local and small-scale manufacturers, and the top of the pyramid, which includes key players such as Robert Bosch GmbH, Stanley Black & Decker Inc., Hilti Corporation, Techtronic Industries Co. Ltd, Makita, and others.
Stanley Black & Decker is a market leader in the power tool industry, accounting for more than 28% of total revenue. The firm has a strong brand image and a diversified product line, which includes various power tools for various purposes. The primary focus of Stanley Black & Decker is on innovation and product development, which has helped the firm maintain a competitive advantage in the industry.
Power Tools Market Leaders
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Stanley Black & Decker, Inc.
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Robert Bosch GmbH
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Techtronic Industries Co. Ltd.
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Makita Corporation
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Hilti Corporation
- *Disclaimer: Major Players sorted in no particular order
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Power Tools Market News
- March 2023: DEWALT, a Stanley Black & Decker brand, announced the expansion of its TOUGHSYSTEM® 2.0 storage portfolio with the introduction of three new products - an Adaptor, Deep Compact Toolbox, and 3-Drawer Toolbox - providing users with greater connectivity to other storage modules and convenient access to tools. The new TOUGHSYSTEM® 2.0 Adaptor (DWST08017) allows users to build a versatile and customized storage solution through expanded compatibility.
- March 2023: Hilti announces a strategic partnership with Canvas, a construction robotics company that has developed a robotic drywalling solution aiming to empower people to build in bold new ways. This collaboration brings together leaders in intelligent jobsite robotics who share a common vision: that robotic tools will unlock untapped potential and drive a new era of productivity and safety for skilled trade workers.
- June 2022: Bosch Power Tools launched the GWS12V-30 12v Max brushless 3-inch angle grinder, another addition to grinding technology. GWS12V-30 grinder offers user endurance for handling heavy-duty cutting applications on various jobs and provides optimized gear structure, brushless motor, and fast breaking time to maximize battery runtime.
Power Tools Industry Segmentation
Power tools are semiconductor tools employed in various industrial applications when activated by an external power source. Power tools include circular saws, sanders, grinders, routers, jigsaws, drills, hammer drills, and many others. A power tool is propelled by a mechanism and a power source different from the physical labor employed with hand tools. Internal combustion engines, electric motors, and compressed air are the three most popular forms of power tools.
A comprehensive background analysis of the Power Tools Market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the industry's competitive landscape. The impact of COVID-19 has also been incorporated and considered during the study.
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.
| 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 |
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Frequently Asked Questions
What is the current undefined size?
The undefined is projected to register a CAGR of greater than 8% during the forecast period (2025-2030)
Who are the key players in undefined?
Stanley Black & Decker, Inc., Robert Bosch GmbH, Techtronic Industries Co. Ltd., Makita Corporation and Hilti Corporation are the major companies operating in the undefined.
Which is the fastest growing region in undefined?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
What years does this undefined cover?
The report covers the undefined historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the undefined size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Power Tools Industry Report
Statistics for the 2025 Power Tools market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Power Tools analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
