The global power tools market size is expected to grow from USD 42.8 billion in 2022 to USD 65.5 billion by 2027, at a CAGR of 8.9%. The growth of the market can be attributed to the growing construction industry in emerging economies, the high demand for power tools in the automotive industry, the rising adoption of battery-powered power tools globally, and the surging demand for electric fastening tools in industrial environments.
The key players operating in the power tools market include the major players which operate in different stages in the entire value chain of power tools; these players are Stanley Black & Decker, Inc. (US), Robert Bosch GmbH (Germany), Techtronic Industries Co., Ltd. (Hongkong), Makita Corporation (Japan), Atlas Copco AB (Sweden), and Ingersoll Rand (US). To stay competitive and increase their footprint in the global market, these players have adopted various strategies, including increasing investments in R&D (research & development), product launches, increasing the number of acquisitions, mergers, partnerships, and strategic alliances, and planned geographic expansions.
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Stanley Black & Decker, Inc. is a global provider of power tools, hand tools, and associated accessories, engineered fastening systems and products, services, and equipment for commercial electronic security and monitoring systems, oil & gas and infrastructure applications, automatic doors, and healthcare solutions. In March 2010, Stanley Works merged with Black & Decker to form Stanley Black & Decker, Inc. The company operates through three business segments: Tools & Storage, Industrial, and Security. Through the Tools & Storage segment, the company offers hand tools, accessories, and storage (HTAS) equipment and power tools and equipment (PTE). Power tools and equipment (PTE) include consumer and professional products. Professional products include professional-grade cordless and corded electric power tools and equipment, which include impact wrenches and drivers, drills, saws, grinders, sanders and routers, as well as fasteners and pneumatic tools, which include nails, nail guns, concrete and masonry anchors, and staplers and staples. Consumer products include cordless and corded electric power tools; home products consist of paint tools, handheld vacuums, and cleaning appliances; and lawn and garden products include hedge trimmers, edgers, lawnmowers, string trimmers, and related accessories.
Makita Corporation is one of the leading manufacturers of electric power tools, pneumatic tools, gardening equipments, and household equipment. The company operated through three business segments- power tools, garden equipments, household and others. Under power tools segment company offers a wide range of tools such as impact wrenches, drilling & fastening tools, impact drilling/demolition tools, grinding /sanding tools, sawing , among others. The company offers corded and cordless power tools. It offers lightweight, compact, and efficient power tools to professionals and homeowners.
Hilti Corporation is engaged in the designing and manufacturing of products for various industries such as construction, energy, metals and railways. The company operates in two business segments- Electric tools & accessories and fastening & Protection systems. The company product portfolio includes power tools, cordless tools, direct fastening systems, fastners, dust management and vacuum cleaner, tool inserts, measuring tools and scanners, among others. The company focuses on the construction industry to offer these power tools, however, the company offers its products to several other industries, such as metals, construction, and power & energy.
Power Tools Market by Product (Drilling and Fastening Tools, Demolition Tools, Sawing and Cutting Tools, Material Removal Tools, Routing Tools), Mode of Operation (Electric, Pneumatic), Application and Region – Global Forecast to 2027
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