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Battery Power Tools Market, Statistical Analysis with Top players Ingersoll-Rand Plc, Apex Tool Group, LLC, Atlas Copco, Koki Holdings

04-13-2020 05:15 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Analytics LLP

Battery power tools

Battery power tools

Battery Power Tools Market was pegged at $22.44 billion in 2018 and is projected to reach $44.06 billion by 2026, registering a CAGR of 8.5% from 2019 to 2026.

Rise in adoption of battery power tools in the automotive industry, surge in popularity of brushless battery power tools, and growing demand for affordable and energy-efficient power tools have boosted the growth of the global battery power tools market. However, the availability of low-cost alternatives and decline in growth of the construction industry hamper the market. On the contrary, advancements of rechargeable batteries are expected to create lucrative opportunities in the near future.

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Brushed segment to dominate the market-
The brushed segment held the largest share in 2018, accounting for nearly three-fourths of the global battery power tools market, owing to their cost-effectiveness and prolonged service life. However, the brushless segment is projected to register the fastest CAGR of 9.1% during the forecast period, owing to its advantages including less maintenance, long battery life, less heat dissipation, and noiseless operation.

The DIY segment is expected to manifest the fastest CAGR of 8.9% during the study period, due to high labor costs. However, the industrial segment dominated the global battery power tools market in 2018, contributing nearly two-thirds of the market. This is due to significant investments in construction and infrastructural development activities by government.

The drills segment held the highest share in 2018, accounting for nearly one-third of the global battery power tools market, owing to rise in popularity of cordless drills. On the other hand, the lawn mower segment is expected to manifest the fastest CAGR of 9.9% during the study period, owing to increase in consumer interest in gardening activities, increased usage of lawn mowers equipment to maintain public facilities, and increase in adoption of cordless lawn mowers.

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The global battery power tools market across North America held the largest share in 2018, contributing nearly two-fifths of the market, owing to rise in need for home improvement and increase in popularity of DIY trend. However, the market across the LAMEA region is anticipated to register the fastest CAGR of 10.3% during the forecast period, owing to rise in industrialization and growing adoption of industrial and manufacturing applications.

Major market players
o Ingersoll-Rand Plc
o Apex Tool Group, LLC
o Atlas Copco, Hilti Corporation
o Koki Holdings
o Makita Corporation
o Stanley Black and Decker
o Techtronic Industries
o Snap-On Incorporated
o Robert Bosch GmbH

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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. 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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