Cordless Drills Market Size

Cordless Drills Market size is projected to grow at substantial growth rate during the forecast period i.e., between 2024-2036. Cordless drills are battery powered drilling machines, which are characterized by the absence of an electric cord or wire. The growth of the market can be attributed to the rising adoption of battery-powered power tools across the various end-use industries. Drilling machines find extensive application in the construction sector for conveniently drilling holes through rigid materials, and for inserting screws. Other than this, drills are also commonly used in residences and hardware workshops for general repair activities. Moreover, cordless drills are handy, compact, and do not require an electricity connection, which means they can be used outdoors as well. This is another major factor, which is estimated to boost the market growth. Furthermore, cordless drills are majorly used in prefabricated construction, or modular construction, where the construction of basic structure takes place off-site. The demand for modular construction, the market of which reached USD 10 billion in 2018, and is estimated to cross ISD 170 billion in 2025, is constantly increasing, and is therefore anticipated to contribute to the growth of the global cordless drill market during the forecast period.