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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
What factors are influencing demand for cordless power tools across North America?
North America cordless power tools market size crossed USD 4 billion in 2023 and is expected to register a commendable CAGR from 2024 to 2032, due to the presence of robust construction sector driven by infrastructure development and a flourishing home improvement sector.
Why is the cordless power tools market growing from brushed motors?
The brushed motors segment held over 60% share of the cordless power tools industry in 2023 and is expected to register an appreciable CAGR through 2032, due to their inherent advantages, including higher efficiency, reduced maintenance requirements, and longer operational life.
How big is the cordless power tools market?
The market size of cordless power tools was reached USD 11 billion in 2023 and is expected to register over 6.4% CAGR from 2024 to 2032, owing to the rapid advancements in battery technology and the increasing demand for portable and convenient solutions worldwide.
Who are the key cordless power tools industry players?
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, and Stanley Black & Decker Inc. are some of the major cordless power tools companies worldwide.