Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Power Tools Market size was over USD 31.71 billion in 2024 and is poised to reach USD 68.21 billion by the end of 2037, growing at around 6.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of power tools is assessed at USD 33.36 billion.
The reason behind the growth is impelled by the growing construction industry worldwide. Power tools are of great value and widely used at construction sites, as they provide workers with the additional strength and capability they need to finish difficult construction projects. The construction sector is one of the largest in the world economy, with about USD10 trillion spent on construction-related goods and services every year.
The huge demand for power tools in modern households are believed to fuel the market growth. With the surge in consumers becoming aware and technically equipped they prefer repairing the furniture or any electrical equipment manually. Even refurbishing existing fittings, or plumbing they prefer to do themselves to save costs of a paid technician. As such the demand for modern power tools to make tasks easier is much in demand. The essential power tools for home use include a power drill + driver, jigsaw, circular saw, miter saw, oscillating multi-tool, random orbital sander, cordless brad nail gun, and table saw.
Power Tools Sector: Growth Drivers and Challenges
Growth Drivers
- Use of Power Tools in the Automotive Industry – Power tools are significantly used by vehicle producers as well as the repair and maintenance service providers in the automotive industry, especially for electric vehicles. Power tools can make maintenance efficient and convenient by speeding up redundant tasks such as fastening nuts and bolts.
- Rising Urbanization Globally- It is estimated that the urban population will be more than double its current size by 2050, at which point nearly 7 of 10 people will live in cities. More urbanization leads to the development of more residential and other infrastructure, and it is predicted to surge the growth of the market. According to statistics, the degree of urbanization across the world as of 2022 is 57%.As per a report by the World Bank, 4.4 billion inhabitants – live in cities.
Challenges
- Disruptions in Supply-Chain Management Owing to Political Unrest across the World - The disruptions started with the commencement of the Pandemic and have continued since. Owing to the Russia-Ukraine war and China-US trade and tariff conflicts, the situation is challenging the market.
- Volatility in Prices of Raw Materials
- High Complexity as Compared to Hand Tools
Power Tools Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.6% |
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Base Year Market Size (2024) |
USD 31.71 billion |
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Forecast Year Market Size (2037) |
USD 68.21 billion |
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Regional Scope |
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Power Tools Segmentation
Mode of Operation (Electric, Liquid Fuel, Hydraulic, Pneumatic, Powder-Actuated)
The electric segment is estimated to account for 36% share of the global power tools market in the coming years owing to the growing popularity of cordless technology. The most common electric power tools are power saws, electric planes, electric milling cutters, electric mortising machines, and portable parquet finishers. They can be corded or cordless.
Corded electric tools require plug-and-play whereas cordless tools are handier to operate. Consumers increasingly prefer cordless tools that are lightweight, portable, flexible, and compact. Bosch Power Tools had launched more than 60 new cordless tools for professional users, in the last two years, more than 25 of which in 2021. By 2023, the range is supposed to cover a total of around 100 new cordless tools.
Type (Sawing and Cutting, Fastening, Demolition, Routing, Portable Nibblers, Air-Powered, Material Removal)
Power tools market from the material removal segment is set to garner a notable share shortly. These tools are used as end-effectors to remove material from a part to produce the desired shape. Material removal tasks such as deburring using, deflating, edge-breaking, surface finishing, etc., require beveling tools, chipping hammers, circular cutters, drilling solutions, grinders, pneumatic saws, riveting hammers, and others. They can be powered by electric or pneumatic sources.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Mode of Operation |
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Application |
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Material |
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End-User |
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Sales Channel |
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Customize this ReportPower Tools Industry - Regional Synopsis
APAC Market Forecast
Power tools market in Asia Pacific is predicted to account for the largest share of 34% by 2037 impelled by the growing population. China has a population of 1.4 billion and India with 1.3 billion inhabitants, remains the two most populous countries, comprising 19% and 18% of the total global population respectively. This would lead to development of more houses and commercial buildings in the region, which necessitate the use of power tools for various tasks such as drilling and fastening. Lately, India has more than 1.420.6270.660 people, a growth of over 0.79% from 2022.
North American Market Statistics
The North America power tools market is estimated to be the second largest, during the forecast timeframe led by increasing advancement in technology which has led to the development of more efficient power tools for several industrial and household purposes. This may significantly increase the demand for power tools in the region.
Companies Dominating the Power Tools Landscape
- Robert Bosch GmbH
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Developments
- Regional Presence
- SWOT Analysis
- Emerson Electric, Co.
- Hilti Corporation
- Ingersoll-Rand PLC
- Koki Holdings Co., Ltd.
- Stanley Black & Decker
- Techtronic Industries
- Snap-on Incorporated
- 3M Company
- Honeywell International Inc.
In the News
- Hilti Corporation a global leader providing innovative tools, technology, software, and services to the commercial construction industry, has entered into a partnership with Trimble to integrate with Hilti ON! Track asset management system to Trimble Viewpoint Vista, an ERP solution within the Trimble Construction One suite.
- Stanley Black & Decker has entered into a partnership with specialty materials provider Eastman to advance sustainability in the power tools industry. Black + Decker, a Stanley Black & Decker brand, will be introducing a new product line, revival, offering the brand's first sustainability-led power tools that utilize Eastman’s Tritan Renew copolyester.
Author Credits: Dhruv Bhatia
- Report ID: 4906
- Published Date: Oct 14, 2024
- Report Format: PDF, PPT
