Cordless Power Tools Market Size - By Tool Type (Drills, Saws, Lawn Mower, Impact Wrench, Sander, Grinder), By Motor Type (Brushed Motor, Brushless Motor), By End-User (Industrial, Residential, Commercial), Application, Voltage, Distribution Channel & Forecast, 2024 – 2032

Cordless Power Tools Market Size - By Tool Type (Drills, Saws, Lawn Mower, Impact Wrench, Sander, Grinder), By Motor Type (Brushed Motor, Brushless Motor), By End-User (Industrial, Residential, Commercial), Application, Voltage, Distribution Channel & Forecast, 2024 – 2032

Cordless Power Tools Market Size

Cordless Power Tools Market was valued at USD 11 billion in 2023 and is set to expand at 6.4% CAGR during 2024 to 2032, driven by advancements in battery technology and the increasing demand for portable and convenient solutions. With lithium-ion batteries becoming more efficient and affordable, cordless tools offer users the flexibility to work in various settings without the constraints of power cords. This market expansion spans a wide range of applications, including drills, saws, impact drivers, and more, catering to both professional contractors and DIY enthusiasts.

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The increasing popularity of DIY projects among homeowners has driven a surge in demand for cordless tools. This trend is attributed to the accessibility of information through online platforms, enabling individuals to take on various projects independently. Additionally, the burgeoning construction industry in rising economies contributes significantly to the market's momentum. According to the Oxford Economics Group the construction work done up will go up to USD 13.9 trillion in 2037 due to the developing countries experiencing rapid urbanization and infrastructure development.

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High initial costs stand out as a significant barrier for both consumers and businesses looking to invest in cordless tools. While these tools offer long-term cost savings in terms of convenience and efficiency, the upfront investment can be prohibitive for some buyers. Moreover, fluctuations in raw material prices pose challenges to manufacturers in maintaining stable pricing for cordless power tools. The market relies heavily on materials such as lithium-ion batteries, metals, and plastics, and variations in the costs of these raw materials can directly impact production expenses.

Cordless Power Tools Market Trends

Brushless motors are becoming increasingly common in cordless power tools. They offer higher efficiency, longer lifespan, and less maintenance compared to brushed motors. This translates to more powerful, reliable, and durable tools. For instance, in March 2023, DEWALT introduced the 20V MAX Brushless 1/2 in. Drill/Driver and 20V MAX Brushless 1/2 in. Hammer Drill. The brushless drills deliver up to 16% more power than compared to their previous products.

Cordless Power Tools Market Analysis

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Based on the tool type, the drills segment emerged as the dominant force within the market, commanding a substantial market share of over 30% in 2023. due to the wide array of applications for drills across construction, woodworking, metalworking, and home improvement projects, making them indispensable tools for professionals and DIY enthusiasts alike. Furthermore, the lawn mower segment is projected to exhibit 7.2% CAGR through 2032, owing to the increasing consumer preference for cordless lawn mowers due to their portability, ease of use, and environmental friendliness compared to traditional gas-powered alternatives.

Based on motor type, the brushed motor segment held approximately 60% of the market share in 2023. However, brushless motors segment will showcase 7.7% growth rate through 2032. This surge in the adoption of brushless motors can be credited to their inherent advantages, including higher efficiency, reduced maintenance requirements, and longer operational life. Brushless motors are devoid of the brushes and commutators found in their brushed counterparts, resulting in less friction, lower heat generation, and enhanced overall performance.

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Based on the voltage, the 20V segment emerged as the dominant force, capturing a market share exceeding 30% in 2023. The 20V tools strike a balance between power and portability, making them versatile and suitable for a wide range of applications. This voltage range is often preferred by both professionals and DIY enthusiasts as it offers sufficient power for various tasks without compromising on maneuverability.

The construction segment acquired approximately 35% share of the cordless power tools market in 2023. This leadership position can be attributed to the burgeoning construction industry worldwide, characterized by increased infrastructure development, residential and commercial construction projects, and a growing demand for efficient and portable tools among construction professionals. Cordless power tools offer unparalleled flexibility and mobility on job sites, eliminating the constraints associated with corded alternatives.

The offline channel segment accounted for over 60% of the revenue share in 2023, on account of the longstanding presence of traditional brick-and-mortar stores, which have historically served as primary outlets for power tools. Similarly, consumers often prefer offline channels for their ability to provide hands-on experiences with the products, allowing them to assess the tool's weight, ergonomics, and overall feel before making a purchase.

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North America cordless power tools market size surpassed USD 4 billion in 2023, driven by infrastructure development and a flourishing home improvement sector. The region's strong economic conditions, coupled with a high level of technological adoption and disposable income among consumers, fueled the demand for advanced cordless power tools. In addition, stringent regulations promoting workplace safety and environmental sustainability further incentivized the adoption of cordless tools, aligning with the region's commitment to cutting-edge and eco-friendly technologies.

Cordless Power Tools Market Share

In 2023, major market players, including TTI Group, Stanley Black & Decker, Robert Bosch GmbH, Makita Corporation, Apex Tool Group, and Atlas Copco AB collectively held around 45% market share. The cordless power tool market is moderately fragmented, with large established companies holding greater shares. These prominent players are proactively involved in strategic endeavors such as mergers & acquisitions, facility expansions, and collaborations to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position. These enterprises consistently allocate resources to R&D, aiming to enhance their designs and integrate cutting-edge technologies, ensuring they maintain a competitive edge.

Cordless Power Tools Market Companies

Major players operating in the cordless power tools industry include

• Apex Tool Group LLC
• Atlas Copco AB
• Dynabrade Power Tools
• Hilti AG
• Hitachi Ltd.
• Ingersoll Rand Inc.
• KEN Holding Co., Ltd.
• Makita Corporation
• Robert Bosch GmbH
• Snap-on Tools Company LLC
• Stanley Black & Decker Inc.
• TTI Group
• YAMABIKO Corporation

Cordless Power Tools Industry News

• In January 2024, Hitli launched its new cordless tools on the 22V Nuron battery platform. The SC 6WP-22 Plunge saw is designed for cutting in wood, fiber board, drywall and solid surfaces, including straight and bevel cuts and intricate cut-outs. The 6.5-in. saw has been engineered for cutting speed and dust collection.
   
• In October 2023, Stanley Black & Decker Philippines partnered with Wilcon Depot to introduce Dewalt Cordless Power Tools which features enhanced ergonomics with a balanced design and comfortable grip with brushless motors for elevated performance. These tools will be available in all Wilcon Depot outlets nationwide.

This cordless power tools market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Thousand Units) from 2018 to 2032, for the following segments

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Market, By Tool Type

• Drills
• Saws
• Lawn Mower
• Impact Wrench
• Sander
• Grinder
• Others

Market, By Motor Type

• Brushed motor
• Brushless motor

Market, By Voltage

• 12V
• 18V
• 20V
• 40V
• Above 40V

Market, By End-User

• Industrial
• Residential
• Commercial

Market, By Application

• Construction
• Automotive
• Aerospace
• Energy
• Electronics
• DIY
• Others

Market, By Distribution Channel

• Online channel
• Offline channel

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Indonesia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA