The Portable Power Tools Market to grow at a CAGR of 5.02% from 2022 to 2027|Use of Li-ion batteries to boost market growth – Technavio

46 4 The Portable Power Tools Market to grow at a CAGR of 5.02% from 2022 to 2027|Use of Li-ion batteries to boost market growth - Technavio

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
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
    • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global portable power tools market 2017 – 2021 
    • Exhibit 18: Historic Market Size – Data Table on global portable power tools market 2017 – 2021 ($ million)
  • 4.2 Product Segment Analysis 2017 – 2021 
    • Exhibit 19: Historic Market Size – Product Segment 2017 – 2021 ($ million)
  • 4.3 Application Segment Analysis 2017 – 2021 
    • Exhibit 20: Historic Market Size – Application Segment 2017 – 2021 ($ million)
  • 4.4 Geography Segment Analysis 2017 – 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
  • 4.5 Country Segment Analysis 2017 – 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

  • 5.1 Five forces summary
    • Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition
    • Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

  • 6.1 Market segments
    • Exhibit 30: Chart on Product – Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Product – Market share 2022-2027 (%)
  • 6.2 Comparison by Product 
    • Exhibit 32: Chart on Comparison by Product
    • Exhibit 33: Data Table on Comparison by Product
  • 6.3 Cordless tools – Market size and forecast 2022-2027 
    • Exhibit 34: Chart on Cordless tools – Market size and forecast 2022-2027 ($ million)
    • Exhibit 35: Data Table on Cordless tools – Market size and forecast 2022-2027 ($ million)
    • Exhibit 36: Chart on Cordless tools – Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Cordless tools – Year-over-year growth 2022-2027 (%)
  • 6.4 Corded tools – Market size and forecast 2022-2027 
    • Exhibit 38: Chart on Corded tools – Market size and forecast 2022-2027 ($ million)
    • Exhibit 39: Data Table on Corded tools – Market size and forecast 2022-2027 ($ million)
    • Exhibit 40: Chart on Corded tools – Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Corded tools – Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Product 
    • Exhibit 42: Market opportunity by Product ($ million)
    • Exhibit 43: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Application

  • 7.1 Market segments
    • Exhibit 44: Chart on Application – Market share 2022-2027 (%)
    • Exhibit 45: Data Table on Application – Market share 2022-2027 (%)
  • 7.2 Comparison by Application 
    • Exhibit 46: Chart on Comparison by Application
    • Exhibit 47: Data Table on Comparison by Application
  • 7.3 Commercial – Market size and forecast 2022-2027 
    • Exhibit 48: Chart on Commercial – Market size and forecast 2022-2027 ($ million)
    • Exhibit 49: Data Table on Commercial – Market size and forecast 2022-2027 ($ million)
    • Exhibit 50: Chart on Commercial – Year-over-year growth 2022-2027 (%)
    • Exhibit 51: Data Table on Commercial – Year-over-year growth 2022-2027 (%)
  • 7.4 Consumer – Market size and forecast 2022-2027 
    • Exhibit 52: Chart on Consumer – Market size and forecast 2022-2027 ($ million)
    • Exhibit 53: Data Table on Consumer – Market size and forecast 2022-2027 ($ million)
    • Exhibit 54: Chart on Consumer – Year-over-year growth 2022-2027 (%)
    • Exhibit 55: Data Table on Consumer – Year-over-year growth 2022-2027 (%)
  • 7.5 Market opportunity by Application 
    • Exhibit 56: Market opportunity by Application ($ million)
    • Exhibit 57: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 59: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 60: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 61: Chart on Geographic comparison
    • Exhibit 62: Data Table on Geographic comparison
  • 9.3 North America – Market size and forecast 2022-2027 
    • Exhibit 63: Chart on North America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 64: Data Table on North America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 65: Chart on North America – Year-over-year growth 2022-2027 (%)
    • Exhibit 66: Data Table on North America – Year-over-year growth 2022-2027 (%)
  • 9.4 Europe – Market size and forecast 2022-2027 
    • Exhibit 67: Chart on Europe – Market size and forecast 2022-2027 ($ million)
    • Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
    • Exhibit 69: Chart on Europe – Year-over-year growth 2022-2027 (%)
    • Exhibit 70: Data Table on Europe – Year-over-year growth 2022-2027 (%)
  • 9.5 APAC – Market size and forecast 2022-2027 
    • Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)
    • Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
    • Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)
    • Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)
  • 9.6 South America – Market size and forecast 2022-2027 
    • Exhibit 75: Chart on South America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 76: Data Table on South America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 77: Chart on South America – Year-over-year growth 2022-2027 (%)
    • Exhibit 78: Data Table on South America – Year-over-year growth 2022-2027 (%)
  • 9.7 Middle East and Africa – Market size and forecast 2022-2027 
    • Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
    • Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
    • Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
    • Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
  • 9.8 US – Market size and forecast 2022-2027 
    • Exhibit 83: Chart on US – Market size and forecast 2022-2027 ($ million)
    • Exhibit 84: Data Table on US – Market size and forecast 2022-2027 ($ million)
    • Exhibit 85: Chart on US – Year-over-year growth 2022-2027 (%)
    • Exhibit 86: Data Table on US – Year-over-year growth 2022-2027 (%)
  • 9.9 China – Market size and forecast 2022-2027 
    • Exhibit 87: Chart on China – Market size and forecast 2022-2027 ($ million)
    • Exhibit 88: Data Table on China – Market size and forecast 2022-2027 ($ million)
    • Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)
    • Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)
  • 9.10 Germany – Market size and forecast 2022-2027 
    • Exhibit 91: Chart on Germany – Market size and forecast 2022-2027 ($ million)
    • Exhibit 92: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
    • Exhibit 93: Chart on Germany – Year-over-year growth 2022-2027 (%)
    • Exhibit 94: Data Table on Germany – Year-over-year growth 2022-2027 (%)
  • 9.11 UK – Market size and forecast 2022-2027 
    • Exhibit 95: Chart on UK – Market size and forecast 2022-2027 ($ million)
    • Exhibit 96: Data Table on UK – Market size and forecast 2022-2027 ($ million)
    • Exhibit 97: Chart on UK – Year-over-year growth 2022-2027 (%)
    • Exhibit 98: Data Table on UK – Year-over-year growth 2022-2027 (%)
  • 9.12 Japan – Market size and forecast 2022-2027 
    • Exhibit 99: Chart on Japan – Market size and forecast 2022-2027 ($ million)
    • Exhibit 100: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
    • Exhibit 101: Chart on Japan – Year-over-year growth 2022-2027 (%)
    • Exhibit 102: Data Table on Japan – Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 103: Market opportunity by geography ($ million)
    • Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 105: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape
    • Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption
    • Exhibit 107: Overview on factors of disruption
  • 11.4 Industry risks
    • Exhibit 108: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered
    • Exhibit 109: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 110: Matrix on vendor position and classification
  • 12.3 3M Co.
    • Exhibit 111: 3M Co. – Overview
    • Exhibit 112: 3M Co. – Business segments
    • Exhibit 113: 3M Co. – Key news
    • Exhibit 114: 3M Co. – Key offerings
    • Exhibit 115: 3M Co. – Segment focus
  • 12.4 ANDREAS STIHL AG and Co. KG 
    • Exhibit 116: ANDREAS STIHL AG and Co. KG – Overview
    • Exhibit 117: ANDREAS STIHL AG and Co. KG – Product / Service
    • Exhibit 118: ANDREAS STIHL AG and Co. KG – Key news
    • Exhibit 119: ANDREAS STIHL AG and Co. KG – Key offerings
  • 12.5 Atlas Copco AB
    • Exhibit 120: Atlas Copco AB – Overview
    • Exhibit 121: Atlas Copco AB – Business segments
    • Exhibit 122: Atlas Copco AB – Key news
    • Exhibit 123: Atlas Copco AB – Key offerings
    • Exhibit 124: Atlas Copco AB – Segment focus
  • 12.6 C. and E. Fein GmbH
    • Exhibit 125: C. and E. Fein GmbH – Overview
    • Exhibit 126: C. and E. Fein GmbH – Product / Service
    • Exhibit 127: C. and E. Fein GmbH – Key offerings
  • 12.7 Draper Tools Ltd.
    • Exhibit 128: Draper Tools Ltd. – Overview
    • Exhibit 129: Draper Tools Ltd. – Product / Service
    • Exhibit 130: Draper Tools Ltd. – Key offerings
  • 12.8 Emerson Electric Co.
    • Exhibit 131: Emerson Electric Co. – Overview
    • Exhibit 132: Emerson Electric Co. – Business segments
    • Exhibit 133: Emerson Electric Co. – Key news
    • Exhibit 134: Emerson Electric Co. – Key offerings
    • Exhibit 135: Emerson Electric Co. – Segment focus
  • 12.9 Festool GmbH
    • Exhibit 136: Festool GmbH – Overview
    • Exhibit 137: Festool GmbH – Product / Service
    • Exhibit 138: Festool GmbH – Key offerings
  • 12.10 Hilti AG
    • Exhibit 139: Hilti AG – Overview
    • Exhibit 140: Hilti AG – Product / Service
    • Exhibit 141: Hilti AG – Key offerings
  • 12.11 Husqvarna AB
    • Exhibit 142: Husqvarna AB – Overview
    • Exhibit 143: Husqvarna AB – Business segments
    • Exhibit 144: Husqvarna AB – Key news
    • Exhibit 145: Husqvarna AB – Key offerings
    • Exhibit 146: Husqvarna AB – Segment focus
  • 12.12 Koki Holdings Co. Ltd. 
    • Exhibit 147: Koki Holdings Co. Ltd. – Overview
    • Exhibit 148: Koki Holdings Co. Ltd. – Product / Service
    • Exhibit 149: Koki Holdings Co. Ltd. – Key offerings
  • 12.13 Makita Corp.
    • Exhibit 150: Makita Corp. – Overview
    • Exhibit 151: Makita Corp. – Business segments
    • Exhibit 152: Makita Corp. – Key offerings
    • Exhibit 153: Makita Corp. – Segment focus
  • 12.14 Robert Bosch GmbH
    • Exhibit 154: Robert Bosch GmbH – Overview
    • Exhibit 155: Robert Bosch GmbH – Business segments
    • Exhibit 156: Robert Bosch GmbH – Key news
    • Exhibit 157: Robert Bosch GmbH – Key offerings
    • Exhibit 158: Robert Bosch GmbH – Segment focus
  • 12.15 Stanley Black and Decker Inc. 
    • Exhibit 159: Stanley Black and Decker Inc. – Overview
    • Exhibit 160: Stanley Black and Decker Inc. – Business segments
    • Exhibit 161: Stanley Black and Decker Inc. – Key news
    • Exhibit 162: Stanley Black and Decker Inc. – Key offerings
    • Exhibit 163: Stanley Black and Decker Inc. – Segment focus
  • 12.16 Techtronic Industries Co. Ltd. 
    • Exhibit 164: Techtronic Industries Co. Ltd. – Overview
    • Exhibit 165: Techtronic Industries Co. Ltd. – Business segments
    • Exhibit 166: Techtronic Industries Co. Ltd. – Key offerings
    • Exhibit 167: Techtronic Industries Co. Ltd. – Segment focus
  • 12.17 YAMABIKO CORP.
    • Exhibit 168: YAMABIKO CORP. – Overview
    • Exhibit 169: YAMABIKO CORP. – Business segments
    • Exhibit 170: YAMABIKO CORP. – Key offerings
    • Exhibit 171: YAMABIKO CORP. – Segment focus

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 172: Inclusions checklist
    • Exhibit 173: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 174: Currency conversion rates for US$
  • 13.4 Research methodology
    • Exhibit 175: Research methodology
    • Exhibit 176: Validation techniques employed for market sizing
    • Exhibit 177: Information sources
  • 13.5 List of abbreviations
    • Exhibit 178: List of abbreviations

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Technavio 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.

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