The global power tools market size was US$ 36.1 billion in 2021. The global power tools market is forecast to grow to US$ 49.6 billion by 2030 by growing at a compound annual growth rate (CAGR) of 4.1% during the forecast period from 2022 to 2030.

Power tools, such as hydraulic presses, handheld machine drills, and gas tools, work on different power sources, like batteries, compressed air, or electricity. They are deployed for the assembly, production, and maintenance operations.

Factors Influencing the Market

Growing industrialization and urbanization will primarily drive the global power tools market forward. In urban areas, spending on houses is increasing on a regular basis. Furthermore, the trending do-it-yourself (DIY) techniques are forecast to upsurge the demand for power tools during the forecast period.

The increasing demand for battery-operated power tools will propel the overall power tools market forward. Furthermore, growing changes in consumer lifestyles and rising disposable income will surge the growth of the market in the coming years.

The rising demand for pneumatic power tools due to reliability and cost-efficient advantages will boost the growth of the global power tools market. In addition, the increasing demand for automation technologies will escalate the overall power tools market growth. Robert Bosch GmbH provides BOSCH Toolbox App for its power tools. Thus, the growing demand for automation will contribute to market growth.

COVID-19 Impact Analysis

The demand for power tools decreased drastically because of the declining demand for power tools from the end-use industries. Delay in manufacturing activities and import-export restrictions further hampered the market growth. The activities related to industrialization and urbanization declined drastically due to the pandemic. Governments of various countries imposed lockdown restrictions which hampered the manufacturing activities. The highest contributor in the global power tools market is China. Moreover, the country witnessed significant economic loss due to the pandemic. All of this has significantly impacted the global power tools market.

Regional Analysis

Asia-Pacific power tools market is forecast to emerge as the largest growing power tools market. China holds the major share of the power tools market, owing to the growing manufacturing activities in the country. Further, the prominent industry players are seeking to develop manufacturing units, which will benefit the overall power tools market. Furthermore, the growing lifestyle changes and rising per capita incomes will benefit the regional market.

Competitors in the Market

Apex Group
Atlas Copco
Hilti Corporation
Robert Bosch GmbH
Koki Holding, Co., Ltd.
Makita Corporation
Ingersoll Rand Inc.
Stanley Black & Decker, Inc.
Techtronic Industries CO., Ltd.
Other Prominent Players
Market Segmentation

The global power tools market segmentation focuses on Operation, Tool, Application, and Region.

The Global Power Tools Market, by Mode of Operation

Electric
Pneumatic
Others
The Global Power Tools Market, by Tool Type

Drills
Material Removal Tool
Saws
Wrenches
Others
The Global Power Tools Market, by Application

Industrial
DIY
The Global Power Tools Market, by Application

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America