The Portable Power Tools Market to grow at a CAGR of 5.02% from 2022 to 2027

NEW YORK, July 31, 2023 /PRNewswire/ -- The portable power tools market is forecast to increase by USD 7,608.62 million from 2022 to 2027, at a CAGR of 5.02%, according to the recent market study by Technavio. The growth of the market will be driven by the Demand for DIY building products, Increasing demand for power tools, and the Use of Li-ion batteries. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Portable Power Tools Market – Vendor Scope

Technavio has extensively analyzed 15 major vendors, including 3M Co., ANDREAS STIHL AG and Co. KG, Atlas Copco AB, C. and E. Fein GmbH, Draper Tools Ltd., Emerson Electric Co., Festool GmbH, Hilti AG, Husqvarna AB, Ingersoll Rand Inc., J C Bamford Excavators Ltd., Koki Holdings Co. Ltd., Makita Corp., Panasonic Holdings Corp., PATTA International Ltd. Taiwan, Robert Bosch GmbH, Snap On Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., and YAMABIKO CORP.

Key Benefits for Industry Players & Stakeholders –

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.

The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Portable Power Tools Market - Segmentation Assessment

The market is segmented by product (cordless tools and corded tools), application (commercial and consumer), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

The cordless tools segment will account for a major share of the market's growth during the forecast period. Cordless portable power tools are preferred in situations where the mobility of power tools is important. They can handle various tasks like corded tools, such as drilling, grinding, polishing, sanding, and screw driving. Professionals like electricians, plumbers, auto mechanics, and service engineers are increasingly using cordless tools as they offer ease of use without relying on an electrical power source. This freedom of movement makes them highly advantageous in various applications. Thus, these factors are expected to drive segment growth during the forecast period.

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Portable Power Tools Market – Market Dynamics

Key Drivers

The use of Li-ion batteries is the key factor driving the market growth. Portable power tools find applications for both personal and commercial purposes due to their lightweight nature, providing users with freedom of movement. Li-ion batteries have largely replaced Ni-MH or NiCd batteries in cordless power tools. This is because Li-ion batteries offer higher power density and can store more energy within a given size compared to NiCd batteries. Additionally, Li-ion batteries have the advantage of lower self-discharge rates and utilize fewer toxic materials. As a result, power tools powered by Li-ion batteries can accomplish more work on a single charge. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

Increasing use of brushless DC motors in portable power tools is a major trend in the market. The primary requirements for portable power tools are reliability, low maintenance, long life, and compactness. BLDC motors meet these requirements effectively due to their brushless design, eliminating wear and friction loss caused by brushes in conventional motors with mechanical commutation. Furthermore, the reduced friction and wear in BLDC motors result in minimal heat generation, making them more energy-efficient compared to brushed DC motors. This improved efficiency extends the lifespan of portable power tools and improves their performance on a single charge. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

The limitation of performance is a significant challenge restricting market growth. Portable power tools offer numerous advantages, such as their lightweight, portability, and cordless operation in the case of cordless tools. However, their widespread adoption is hindered by their high cost, preventing them from fully replacing traditional power tools like stationary or handheld tools. In addition, battery limitations and the lack of high power are other factors influencing their usage. Unlike traditional power tools, portable power tools do not feature large or extremely powerful motors, as they strike a balance between power and size. Thus, these factors are expected to restrict market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Portable Power Tools Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the portable power tools market between 2023 and 2027

Precise estimation of the size of the portable power tools market and its contribution to the market with a focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the portable power tools market across North America, Europe, APAC, South America, and the Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of the portable power tools market vendors.

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Portable Power Tools Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.02%

Market growth 2023-2027

USD 7,608.62 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.45

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 33%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

3M Co., ANDREAS STIHL AG and Co. KG, Atlas Copco AB, C. and E. Fein GmbH, Draper Tools Ltd., Emerson Electric Co., Festool GmbH, Hilti AG, Husqvarna AB, Ingersoll Rand Inc., J C Bamford Excavators Ltd., Koki Holdings Co. Ltd., Makita Corp., Panasonic Holdings Corp., PATTA International Ltd. Taiwan, Robert Bosch GmbH, Snap On Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., and YAMABIKO CORP.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market Overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global portable power tools market 2017 - 2021

4.2 Product Segment Analysis 2017 - 2021

4.3 Application Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Product

6.1 Market segments

6.2 Comparison by Product

6.3 Cordless tools - Market size and forecast 2022-2027

6.4 Corded tools - Market size and forecast 2022-2027

6.5 Market opportunity by Product

7 Market Segmentation by Application

7.1 Market segments

7.2 Comparison by Application

7.3 Commercial - Market size and forecast 2022-2027

7.4 Consumer - Market size and forecast 2022-2027

7.5 Market opportunity by Application

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 North America - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 APAC - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 UK - Market size and forecast 2022-2027

9.12 Japan - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 3M Co.

12.4 ANDREAS STIHL AG and Co. KG

12.5 Atlas Copco AB

12.6 C. and E. Fein GmbH

12.7 Draper Tools Ltd.

12.8 Emerson Electric Co.

12.9 Festool GmbH

12.10 Hilti AG

12.11 Husqvarna AB

12.12 Koki Holdings Co. Ltd.

12.13 Makita Corp.

12.14 Robert Bosch GmbH

12.15 Stanley Black and Decker Inc.

12.16 Techtronic Industries Co. Ltd.

12.17 YAMABIKO CORP.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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