Battery Power Tools Market to Reach $41.1 Bn, Globally, by 2030 at 6.9% CAGR: Allied Market Research


Surge in adoption of battery power tools in the automotive industry and rise in popularity of brushless battery power tools drive the growth of the global battery power tools market

PORTLAND, Ore., Jan. 21, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “Battery Power Tools Market by Motor Type (Brushed and Brushless), Tool (Drills, Saws, Lawn Motors, Impact Wrench and Others) and Application (Industrial and DIY): Global Opportunity Analysis and Industry Forecast, 2021–2030“. According to the report, the global battery power tools industry generated $20.7 billion in 2020, and is anticipated to generate $41.1 billion by 2030, witnessing a CAGR of 6.9% from 2021 to 2030.

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Prime determinants of growth

Surge in adoption of battery power tools in the automotive industry, rise in popularity of brushless battery power tools, and upsurge in demand for affordable & energy-efficient power tools drive the growth of the global battery power tools market. However, availability of low cost alternative and decline in rate of new construction in developed nations hinder the market growth. On the other hand, advancements of rechargeable batteries present new opportunities in the coming years.

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Covid-19 Scenario

  • The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global battery power tools market in the first & second quarter, owing to implementation of global lockdown.
  • However, the market recovered in the third & fourth quarter of the pandemic, due to recovery of sales majorly in North America and Europe.

The brushed motor segment to maintain its leadership status throughout the forecast period

Based on motor type, the brushed motor segment held the highest market share in 2020, accounting for nearly three-fourths of the global battery power tools market, and is estimated to maintain its leadership status throughout the forecast period, owing to its lower cost. Moreover, the brushless motor segment is projected to manifest the highest CAGR of 7.2% from 2021 to 2030, owing to its low maintenances.

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The industrial segment to maintain its lead position during the forecast period

Based on application, the industrial segment accounted for the largest share in 2020, contributing to nearly three-fifths of the global battery power tools market, and is projected to maintain its lead position during the forecast period. This is due to use of battery power tools on large scale in manufacturing and service industries. However, the DIY segment is expected to portray the largest CAGR of 7.1% from 2021 to 2030, owing to rise in DIY culture in North America and Europe region.

North America to maintain its dominance by 2030

Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global battery power tools market, owing to high expenditure on battery power tools. Moreover, the LAMEA region is expected to witness the fastest CAGR of 8.6% during the forecast period, owing to rapid industrialization in the region.

Leading Market Players

  • Apex Tool Group
  • Atlas Copco AB
  • Hilti Corporation
  • Ingersoll-Rand PLC
  • Hitachi Ltd.
  • Makita Corporation
  • Robert Bosch GmbH
  • Snap-On Incorporated
  • Stanley Black and Decker
  • Techtronic Industries

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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