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Impact Of Growing Construction And Renovation Activities On The Power Tool Accessories Market: A Key Factor Shaping the Future of the Power Tool Accessories Market in 2025
Power Tool Accessories Market Share
Growth in the power tool accessories market is anticipated to be fueled by the surge in construction and renovation operations. This increase in construction and renovation is spurred by factors including rapid urbanization, population growth, and a high demand for infrastructure expansion, all backed by government policies, investments in smart city initiatives, and advancements in construction technology. Power tool accessories are vital for construction tasks like cutting, grinding, drilling, and fastening, contributing to the effectiveness and accuracy of various construction and renovation plans. As an example, the Office for National Statistics reported in February 2023 that the UK experienced a 5.6% annual growth in construction output in 2022, following a considerable 12.8% rise in 2021. Hence, the surge in construction and renovation operations propels the power tool accessories market.
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What is the projected compound annual growth rate (CAGR) of the power tool accessories market from 2025 to 2034, and what factors influence it?
In recent times, the power tool accessories market has experienced substantial growth. The market, which was valued at $2.07 billion in 2024 is expected to rise to $2.2 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. Factors contributing to this growth during the historic period include a surge in construction and remodeling activities, an increase in the popularity of DIY trends, expansion of the automotive sector, the need for precision tools, enhancements in material durability, and burgeoning industrial automation.
The power tool accessories industry is projected to witness substantial growth in the coming years, expanding to $2.81 billion by 2029 with a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this predicted growth during the forecast period include burgeoning construction and do-it-yourself (DIY) projects, increased demand for high-efficiency and long-lasting tools, the rise of industrial automation, e-commerce sector expansion, a move towards cordless tools, and higher investment in infrastructure development. Anticipated trends for the forecast period include advancements in wireless technology, smart connectivity, improved durability, precision production, use of environmentally friendly materials, ergonomic designs, and integration with automated systems.
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How are the latest trends influencing the growth of the power tool accessories market?
Major corporations active in the power tools accessories market are focusing on the production of more reliable and effective accessories such as brushless motors, in order to enhance overall functionality, responding to increased demand for high-performance instruments. Brushless motors, which do not require brush replacements, enable longer operational times and heightened durability, leading to more effective power usage and extended tool lifespan. For example, in June 2022, the German engineering firm Robert Bosch GmbH released the GWS12V-30 12V Max Brushless 3-inch Angle Grinder, a powerful tool designed for heavy-duty cutting, which comes equipped with a brushless motor, optimised gears and rapid braking to bolster safety and battery efficiency. The Angle Grinder boasts a rapid speed of 19,500 RPM, facilitating easy cuts through tough materials, while offering a quaint, convenient design to ensure comfort and control for professionals during prolonged periods of use. Its advanced spindle-lock design expeditiates wheel changes, and its quick braking system stops the wheel in less than a second after shut off. This blend of power, speed, and convenient features makes it a must-have for any professional's toolkit.
What are the major segments of the power tool accessories market and their role in driving growth?
The power tool accessories market covered in this report is segmented -
1) By Type: Drill Bits; Circular Saw Blades; Screwdriver Bits; Router Bits; Other Types
2) By Operation Type: Cutting; Drilling; Fastening; Routing And Planning; Other Operation Types
3) By Distribution Channel: Offline; Online
4) By End-User: Industrial; Commercial; Residential
Subsegments:
1) By Drill Bits: Twist Drill Bits; Hammer Drill Bits; Masonry Drill Bits; Spade Drill Bits; Auger Drill Bits; Step Drill Bits; Core Drill Bits; Countersink Drill Bits
2) By Circular Saw Blades: Wood Cutting Blades; Metal Cutting Blades; Diamond Circular Saw Blades; Carbide-Tipped Circular Saw Blades; General Purpose Circular Saw Blades; Abrasive Circular Saw Blades; Specialty Circular Saw Blades
3) By Screwdriver Bits: Phillips Bits; Slotted Bits; Torx Bits; Square Drive (Robertson) Bits; Hex Bits; Pozidriv Bits; Security Bits; Impact Driver Bits
4) By Router Bits: Straight Router Bits; Spiral Router Bits; Edge-Forming Router Bits; Flush Trim Router Bits; Dovetail Router Bits; Chamfer Router Bits; Round-Over Router Bits; Rabbeting Router Bits
5) By Other Types: Sanding Discs And Belts; Jigsaw Blades; Oscillating Multi-Tool Blades; Polishing Pads; Angle Grinder Discs; Taps and Dies; Drill Chucks And Clamps
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Which regions are key players in the growth of the power tool accessories market?
Asia-Pacific was the largest region in the power tool accessories market in 2024. The regions covered in the power tool accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the power tool accessories market?
Major companies operating in the power tool accessories market are Robert Bosch GmbH, Hitachi Ltd, Stanley Black & Decker Inc., Kyocera Corporation, Atlas Copco AB, Emerson Electric Co., Techtronic Industries Company Limited, Hilti Corporation, Ingersoll-Rand Plc, Makita Corporation, Husqvarna Group, Snap-On Incorporated, Chervon Limited (Skil), Festool Group GmbH & Co. KG, Metabowerke GmbH, Klein Tools Inc., L. S. Starrett Company, Bain Capital LP (Apex Tool Group), Silverline Tools, Evolution Power Tools, Craftsman, Dremel, Baier GmbH, EAB Tool Company Inc
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What Is Covered In The Power Tool Accessories Global Market Report?
•Market Size Forecast: Examine the power tool accessories market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the power tool accessories market for a structured understanding.
•Key Players Overview: Analyze major players in the power tool accessories market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the power tool accessories market.
•Segment Contributions: Evaluate how different segments drive overall growth in the power tool accessories market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the power tool accessories market.
•Industry Challenges: Identify potential risks and obstacles affecting the power tool accessories market.
•Competitive Landscape: Review strategic developments in the power tool accessories market, including expansions, agreements, and new product launches.
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