What Has Been the Growth of the Power Tools Market So Far?
The power tools market has seen considerable growth due to a variety of factors.
• In recent times, there has been a substantial growth in the size of the power tools market. A rise from $41.51 billion in 2024 to $44.36 billion in 2025 is anticipated, corresponding to a compound annual growth rate (CAGR) of 6.9%.
The expansion during the historical period is linked to factors including the booming construction and DIY sectors, the enlargement of manufacturing and fabrication, the increasing demand for efficient and cordless tools, a surge in home improvement initiatives, and the enactment of regulatory standards promoting tool safety.
What Are the Future Growth Projections for the Power Tools Market?
The power tools market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated robust expansion is on the cards for the power tools market in the coming years, with projected growth leading to an estimated value of $59.97 billion by 2029, representing a compound annual growth rate (CAGR) of 7.8%.
This potential growth during the predicted period is influenced by factors such as the popularity of bespoke power tools for specialised professions, the emergence of environmentally friendly tool designs, the expansion of electric and cordless tool options, innovative advances in intelligent and interconnected power tools, plus increased usage of precision tools and microtools. Key trends for the forecast period comprise intelligent, IoT-connected power tools, compliance with safety regulations for power tools, ergonomic tool designs that prioritise user comfort, tailored tool kits for professionals, and transparency in both tool performance and maintenance.
Which Factors Are Boosting Growth In The Power Tools Market?
The power tools market has seen significant growth thanks to the industrial sector's expansion. The industrial sector, characterized by a broad spectrum of economic activities such as large-scale production, manufacturing, and the processing of goods and services, fuels the demand for power tools in production and upkeep. Key sectors like automotive, aerospace and manufacturing are driving this need. For example, Eurostat, a UK government statistical agency, reported a 0.2% increased in industrial output across Europe in July 2023. Additionally, between May and April 2023, there was a 0.1% surge in the European Union. Thus, global industrial sector expansion is anticipated to continue propelling the power tools market.
What Key Areas Define The Segmentation Of The Global Power Tools Market?
The power tools market covered in this report is segmented –
1) By Tool Type: Drilling and Fastening Tools, Demolition Tools, Routing Tools, Sawing and Cutting Tools, Material Removal Tools, Other Tool Types
2) By Mode Of Operation: Electric, Pneumatic, Other Mode of Operations
3) By Distribution Channel: Online, Offline
4) By Application: Construction, Automotive, Aerospace, Energy, Electronics, Other Applications
Subsegments:
1) By Drilling and Fastening Tools: Cordless Drills, Impact Drivers, Screwdrivers, Hammer Drills, Nailers
2) By Demolition Tools: Rotary Hammers, Demolition Hammers, Jackhammers
3) By Routing Tools: Wood Routers, Laminated Trimmers
4) By Sawing and Cutting Tools: Circular Saws, Jigsaws, Reciprocating Saws, Band Saws
5) By Material Removal Tools: Grinders, Sanders, Planers
6) By Other Tool Types: Heat Guns, Paint Sprayers, Oscillating Multi-Tools
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How Are Emerging Trends Reshaping The Dynamics Of The Power Tools Market?
The primary trend gaining traction in the power tools market is the emergence of new product innovations. To maintain their market presence, top players in the power tools industry are focusing on creating novel product advancements. For instance, in January 2023, Bosch Power Tools, a company based in India that produces power tools for industries such as construction, woodworking, and metalworking, introduced the GWS 800 Professional. This addition to their wide array of angle grinders is a "Make-in-India" product, specifically tailored to fit the size of an average Indian user's palm. Weighing a mere 1.6 kg, it ensures reduced arm fatigue even during overhead applications. The GWS 800 Professional also boasts a metal flange and top-grade carbon brushes, which make maintenance significantly straightforward.
Who Are the Key Players in the Power Tools Market?
Major companies operating in the power tools market include:
• Stanley Black & Decker Inc.
• Robert Bosch GmbH
• Techtronic Industries Co. Ltd.
• Makita Corporation
• Hilti Corporation
• Atlas Corp.
• Ingersoll Rand Inc.
• Snap-on Incorporated
• Apex Tool Group Corp.
• Hitachi Koki Ltd.
• Emerson Electric Co.
• Enerpac Tool Group Corp.
• Carborundum Universal Limited
• Electrex India Limited
• Husqvarna AB
• Panasonic Corporation
• Kyocera Corporation
• Ridgid Tools Company
• Andreas Stihl AG & CO. KG
• YAMABIKO Corporation
• KEN Holding Co. Ltd.
• Dynabrade Power Tools Pvt. Ltd.
• Delta Machinery Corp.
• Chervon Corp.
• Diamond Products Ltd.
• Einhell Germany AG
• Elliott Tool Technologies Ltd.
• Festool Group GmbH & Co. KG
• Ideal Industries Inc.
• Illinois Tool Works Inc.
• Metabo Power Tools SA Ltd.
• OLFA Corp.
• Positec Technology Co. Ltd.
• Sandvik AB
What Is The Most Dominant Region In The Power Tools Market?
Asia-Pacific was the largest region in the power tools market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the power tools market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
