Cordless Power Tools Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 120
  • SKU: IRTNTR43009

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 Cordless Power Tools Market - 2021-2025

The cordless power tools market size is expected to reach a value of USD 3.64 billion, at a CAGR of 4.08%, during 2021-2025. This research study helps in a deep understanding of the underlying forces driving the market growth and current and potential target customers across segmentations. According to our comprehensive survey, factors such as the growth in production of light vehicles are projected to significantly support market growth during the forecast period. View our sample report for insights on the latest trends and challenges that will have a far-reaching effect on the market growth.

Cordless Power Tools Market Size

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Cordless Power Tools Market Segments

Get actionable insights on the cordless power tools market segments to generate successful ROIs and focus your business strategy efforts where they are most likely to be effective. Navigate through market segmentation by end-user (professional and consumer) and geography (North America, Europe, APAC, South America, and MEA) in this cordless power tools market report to pursue growth opportunities. 

Furthermore, given the current pandemic situation and its significant effect on industries, it is essential to understand the vulnerable market segments and recovery scope. Our market research experts have evaluated the impact of COVID-19 across market segments for our clients to understand the long-term business implications and foresee opportunities to strengthen the market foothold. Want a thorough qualitative and quantitative analysis on the post-pandemic cordless power tools market predictions on-demand changes for 2021-2025? You can buy the report now with one easy click.

Cordless Power Tools Market Vendors and Competitive Analysis

The cordless power tools market size report discusses the current market structure in-depth and how it will shape up during the forecast period based on the entry and exit of market players. At present, the cordless power tools market is fragmented and the vendors are deploying growth strategies such as new product launches, contracts, partnerships, and business expansions to gain a competitive advantage. Take a look at our sample report to get an idea of the well-thought-out business planning approaches of key players.

The cordless power tools market share report highlights the repercussions of the effects of the pandemic across regions and segments, and the entire value chain. To make the most of the emerging opportunities and recover from adverse COVID-19 shock, the market vendors should focus more on leveraging change in consumer behavior and growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Click here to get COVID-19 impact update.

For detailed insights on complete key vendor profiles buy the full cordless power tools market forecast report. The profiles include particulars on the production, sustainability, prospects of the leading companies, and other crucial vendor landscape analysis.

Cordless Power Tools Market Vendors

Cordless Power Tools Market - Region Opportunities 2021-2025

North America will contribute 32% of the overall cordless power tools market growth during the forecast period. The US is a key market for cordless power tools in North America. To unlock exclusive information on potential business markets, economic trends and risks in geographies, and emerging prospective customers buy the report now!

Cordless Power Tools Market Share by Geography

North America has been exhibiting a significant growth rate for cordless power tools market vendors. Factors such as the growth in the construction sector are accelerating the cordless power tools market growth in North America. To view our in-depth analytical review on the micro and macroeconomic factors impacting businesses in the regions click here.

However, the cordless power tools market share growth in North America will be slower than the growth of the market in other regions. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

Cordless Power Tools Market Insights by End-user

Cordless Power Tools Market Share by End-user

To gain further insights on the market contribution of various segments Request for a FREE Sample!

The cordless power tools market share growth by the professional segment will be significant during the forecast period. The growth of the professional market will be driven by the expansion in the construction, manufacturing, and automotive industries. Growth in these sectors is expected to propel the demand for cordless power tools by the professional segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the cordless power tools market size.

From the cordless power tools market segmentation insights, players can achieve maximum market response by understanding the target consumers. The analytical data on the segmentation will allow vendors to position their services and products among the right audiences and gain significant exposure and growth. Also, get updated actionable market insights on post COVID-19 impact on each segment.

Cordless Power Tools Market Drivers & Trends

While it is crucial to have a solid understanding of the drivers and trends, it is also imperative that the market challenges are recognized to improvize business planning and sustain market competition. One of the key factors impeding cordless power tools market growth is the high maintenance cost. Purchase our express report to get exhaustive insights on other industry trends, drivers, and challenges, which will help companies evaluate and develop growth strategies.

The rapid growth in the production of light vehicles is one of the major factors driving the market growth. The demand for light vehicles is expected to rise in the majority of countries across the globe. The growth rate of the light vehicle will be higher in countries that are manufacturing hubs for these vehicles. Consequently, growth in the production of light vehicles will create demand for new cordless power tools as well as lead to the replacement of corded power tools with more advanced cordless power tools. This, in turn, will augment the growth of the cordless power tools market in the coming years.

One of the latest trends gaining traction in this market is the significant rise in the sales of electric vehicles (EVs). Growing pollution levels and declining fossil fuel reserves have brought government attention to the use of EVs and plug-in hybrid electric vehicles (PHEVs). Due to the rise in carbon emissions, global warming is increasing at an alarming rate, thus forcing countries such as the US to take steps to curb carbon emissions. As a result, governments are providing incentives and subsidies to promote the adoption of these vehicles. The increase in the adoption rate will propel the growth of the cordless power tools market during the forecast period. 

This cordless power tools market analysis report provides detailed information on key trends, drivers, and challenges that is the essence of business planning and strengthening marketing strategies across regions and segmentations.

 

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Cordless Power Tools Market Report Outlook

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive cordless power tools market growth during the next five years
  • Precise estimation of the cordless power tools market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the cordless power tools market across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of cordless power tools market vendors

Buy the Cordless Power Tools Market report now to reimage your business strategies!

 

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The cordless power tools market growth will increase by $6.17 billion during 2019-2024.
The cordless power tools market is expected to grow at a CAGR of 6.45% during 2019-2024.
Technavio has segmented the cordless power tools market by end user (Professional and Consumer) ,distribution channel by volume (Hypermarkets and supermarkets, Specialty stores, Online retail, and Others) , and geographic (North America, Europe, APAC, and South America).
Atlas Copco AB, Robert Bosch GmbH, Hilti Corp., Hitachi Ltd., Makita Corp., MTD Products Inc., Panasonic Corp., Snap-on Inc., Stanley Black & Decker Inc., Techtronic Industries Co. Ltd. are a few of the key vendors in the cordless power tools market.
North America will register the highest growth rate of 34.83% among the other regions. Therefore, the cordless power tools market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the cordless power tools market growth are:
  • Advances in battery technology
  • Rise in EV sales
The cordless power tools market vendors should focus on grabbing business opportunities from the professional segment as it accounted for the largest market share in the base year.
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