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Cordless power tools refers to the tools that is actuated by an additional mechanism and better as power source, rather than depending on the manual labor and conventional hand instruments to accomplish the required tasks. These conventional equipment used to sport fat Ni-Cd batteries that were difficult to handle for wielders, which over the years have witnessed significant technological and design improvements. Next generation equipment are extremely compact, sleek and are built with the aim to enhance the mobility of the instruments for any sorts of job.

Ability of these ubiquitous equipment to reduce the manual labor and enhance productivity is expected to remain the primary growth driver

Cordless power tools market has witnessed significant traction over the last few years owing to its extensive portfolio that is broadly classified under drills, saws, sanders, grinders, nail guns, bare tools, carpentry tools, and other related accessories. These find significant applications in mending and developing household projects in conjunction with exhaustive list off applications in industries that include automotive, electronics, and industrial assembly among many others. Moreover, owing to decreasing charging times, increased voltage capacity and storage have in turn led to increased usability in the heavier work load applications. These factors reduce the manual effort, time consumption and costs associated with the tasks, which will propel the overall cordless power tools market growth over the forecast period.

Cordless Power Tools Market Taxonomy

On the basis of product type, the global cordless power tools market is classified into:

  • Drills
  • Saws
  • Sanders
  • Grinders
  • Nail Guns
  • Bare Tools
  • Woodworking & other tools
  • Power tool accessories

On the basis of battery type, the global cordless power tools market is classified into:

  • NiCad
  • NiMH
  • Li-ion

On the basis of end use, the global cordless power tools market is classified into:

  • Professional
    • Automotive & transportation
    • Aerospace & defense
    • Electronics
    • Energy
    • Industrial Assembly
    • Others
  • Household

Increasing demands for automotive production are expected to provide significant boost to the demand growth

According to Organisation Internationale des Constructeurs d’Automobiles (OICA), international production of vehicles witnessed an increase of around 4.5% over the year, accounting for an increase of around 94 million units in 2016. Requirement of power tools to enable human workforce to support the production tasks along with the high-tech machinery is expected to drive the demands for power tools. Moreover, Substantial benefits of cordless equipment over the corded alternatives is expected to generate the demand for replacement of the conventional instruments. Chief global trends such as demand growth for electronic vehicles and do-it-yourself (DIY) are expected to augment major growth prospects to the industry.

Lithium-ion (Li-ion) batteries segment is expected to register highest growth over the forecast period

Nickel Cadmium batteries are the conventional form of batteries that have acquired significant consumer base in the cordless power tools market. Moreover, low-cost availability and large scale adoption of equipment powered by these NiCad batteries are expected to witness significant demands. Li-ion batteries have witnessed significant growth momentum owing to significant featured benefits over the Ni-Cad batteries, such as low charging times, long power backups, and high charge density. However, owing to considerable difference in the overall equipment costs, and occasional requirement in household and few other application segments, NiCad is expected to witness consistent demand.

Professional end use segment is expected to continue its dominance the cordless power tools market share

Major requirements in the professional application segments such as construction, manufacturing, automotive and high affordability of the segment industry participants is expected to provide strong foothold to the business growth. The household segment is expected to gain major traction, owing to increasing   of manual labor and lack of human resource for small household projects.

Increased affordability and increasing activities for transformative automotive technologies such as V2V communication and connected automotive will drive the demands for cordless power tools in the region. Improving economic conditions in Asia Pacific, and large base of manufacturing activities in the countries such as China, India, Japan, Indonesia and South Korea, are expected to present potential growth landscape over the next few years.

Industry is characterized by the consolidated presence of chief players in the region sharing major cordless power tools market share. These players include Emerson Electric Co., Makita, Robert Bosch, Stanley Black & Decker and Techtronic Industries. Other key players include Atlas Copco, Hilti, Husqvarna, Hitachi, and Snap-on.

Key Developments:

  1. In June 2019, Bosch Power Tools introduced its range of cordless power tools including wireless screwdriver powered by lithium-ion batteries. The company claimed that the use of these power tools is likely to boost the convenience to the workers 4 times compared to the available screwdrivers. The range of products launched by the company also include high power impact wrenches, cordless power drill drive, high speed impact drills, hammer drills, ABR enabled impact drivers, and flexible drill drives among others.
  2. In June 2019, Bosch Power Tools India introduced consumer experience zones across selective channel partner outlets in India. The program was launched under the company’s campaign “Bosch Matlab Cordless” which is aimed to enable its users/tradesmen to get more experience with cordless power tools across construction, metalworking, and the woodworking industry.
  3. In September 2019, Makita U.S.A. introduced its new product in cordless power tool category. The company launched new 12V max CXT Cordless 3/8-inch/ 1/4-inch Sq. Drive Ratchet (RW01), which is considered a viable solution for automotive professionals. The product allows its users to attach or remove nuts at a much faster rate. The product has variable operative speed between 0-800 RPM for a large number of applications. The company claims the speed of the product is 3 times faster than any of its leading competitors, with maintaining same torque.
  4. In July 2019, Snap-On Incorporated launched its 14.4 volt Cordless In-Line Drill which offers 65 inch-pounds of torque for various applications in aviation, manufacturing, and industrial environment. The product features free-speed, powerful range of upto 1,350 RPM and is available with a 9-position grasp to get the required torque. The drill can be rapidly charged within 55-minutes and weighs about 2.6 pounds.
  5. On June 2019, Metabo HPT (formerly Hitachi Power Tools) launched its 10-inch MultiVolt Table Saw- model C3610DRJQ4. It’s a hybrid with the size larger table size and extended rip capacity.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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