Cordless Power Tools Market Size Covers Global Industry Analysis, Size, Share, CAGR, Trends, Forecast and Business Opportunity.
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Global Cordless Power Tools Market valued approximately USD 15.33 billion in 2017 is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2018-2025. The Cordless Power Tools Market is continuously growing in the global scenario at significant pace. Cordless power tools refers to the tools that is actuated by an additional mechanism and better as power source, rather than depending on the manual labor and conventional hand instruments to accomplish the required tasks. These conventional equipment used to sport fat Ni-Cd batteries that were difficult to handle for wielders, which over the years have witnessed significant technological and design improvements. Cordless Power Tools is a battery-powered hole maker and a fastener driver for screws, nuts and small bolts. It’s equipped with a clutch that disengages the drill’s drivetrain when the tool reaches a specified amount of torque (turning force). Increasing demand from commercial and residential buildings and growthy in production of light vehicles are the substantial driving factors of the market during the forecast period. Moreover, rising focus on product innovation is the major factors that likely to create numerous opportunity in the near future. Furthermore, cordless power tools have less cords which also means more safety and allowing the user to user to move freely & unhindered are another factors that aiding the growth in the market of cordless power tools during the forecast period. However, more weight than traditional power tools and unstable economic condition are the restraining factors of the market across the world.
The regional analysis of Global Cordless Power Tools Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share due to rising automotive & construction sector and ongoing technological advancements in power tools across the region. Europe is estimated to grow at stable growth rate in the global Cordless Power Tools market over the upcoming years. Further, North America anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 owing to growing infrastructural development & its activities in the region.
The major market player included in this report are:
Stanley Black & Decker
Milwaukee Electric Tool (TTI)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Woodworking & Other Tools
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year “ 2015, 2016
Base year “ 2017
Forecast period “ 2018 to 2025
Target Audience of the Global Cordless Power Tools Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Key factors influencing market growth:
- New application developments and product designs.
- Falling prices of the Cordless Power Tools.
- Strict government norms along with the administrative support and R&D subsidization.
- Geographic expansion by major market players as well as new entrants.
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Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
To summarize, the Cordless Power Tools market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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