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Power Tools Market Size, Share & COVID-19 Impact Analysis, By Mode of Operation (Electric, Pneumatic, Others), By Tool Type (Drilling & Fastening Tools, Material Removal Tools, Sawing and Cutting Tools, Demolition Tools, Others), By Application (DIY, Industrial), and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI101444



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The global power tools market size was USD 25.24 billion in 2020. The impact of COVID-19 has been unprecedented and staggering, with these tools witnessing a negative demand shock across all regions amid the pandemic. Based on our global market analysis, it will exhibit a huge decline of -0.9% in 2020. It is projected to grow from USD 25.52 billion in 2021 to USD 33.05 billion in 2028 at a CAGR of 3.8% in the 2021-2028 period. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

Power tools are primarily used to cut, wrench, saw, drill, and polish materials. Various industries such as automotive, construction, aerospace, oil and gas, petrochemical, and others, have transformed by using handy and energy-efficient tools. These tools are easy to use, thus providing comfort while operating, which allows for achieving elevated results.

Furthermore, the market is expected to grow significantly in the coming future, owing to the adoption of cordless equipment resulting in increased operating hours. However, factors such as high costs and maintenance of moving parts and fluctuations in prices of raw materials are hampering the growth of the market for power tools.

Companies sell their products in two divisions, i.e. professional and consumer products. Professional products include corded or cordless tools, such as pneumatic and fasteners (wrenches and drivers, drills, saws, guns, nails, concrete, masonry anchors, and others). On the other side, hedge trimmers, string trimmers, lawn mowers, and edgers are few gardening products that fall under the consumer product division.

Moreover, by following new power tools industry trends in the market, several companies are working continuously on product launches that require low maintenance and can provide multi-purpose operations with reduced prices. For instance, in March 2020, Robert Bosch Tool Corporation launched a product named “Chameleon,” a cordless power tool machine. It is a 5-in-1 drill/driver system integrated with a CORE18V battery.

COVID-19 to Impede Power Tools Market Growth Owing to Slowdown in Production Activities

Considering the starting point of the COVID 19 impact, Wuhan has been a traditional manufacturing base for various sectors. It is also the area of modern industrial change, which refers to optoelectronic technology, automotive manufacturing, iron manufacturing, and steel manufacturing.

Various industries that impact the tools market such as automotive, aerospace, shipbuilding, energy, and construction are drastically affected by the COVID-19 pandemic. The automotive sector is facing a downfall, which, in turn, could further impact the sales volume of metal bellows suppliers. For instance, according to the China Passenger Car Association (CPCA), car sales in China fell to 92% in the first half of February 2020.

Moreover, trade volumes are also expected to fall steeper in sectors with complex value chains, particularly electronics and automotive products. Till March 2020, 20% of the global trade in manufacturing intermediate products originated from China.

Factory activities were knotted down across most of Asia in March as the coronavirus has paralyzed the economic activity across the world. This is primarily due to the sharp fall in export in Japan and South Korea that overshadowed a modest improvement in China.


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Development of Multi-Purpose Products and their Accessories is Harnessing the Demand

Companies such as Atlas Copco AB, Danaher Corporation, Robert Bosch Tool Corporation, and Techtronic Industries Co. Ltd., are working to develop energy-efficient power tool products with innovative technologies. Industry leaders are also focusing on introducing multi-purpose machines that can be used precisely while conducting numerous operations. On the other side, consumers are expecting the emergence of cordless power tool products that are easy to operate on high-torque, light in weight, compact, and efficient. Therefore, the increasing demand for error-less products from consumers is allowing companies to achieve their height of disruptive innovations.

For instance, Milwaukee Tool recently launched a cordless nailer, named M18 FUEL. This product is designed to deliver greater productivity and comfort. It is also designed to fulfill the consumer’s household daily requirements. Hence, the development of new and innovative products is allowing the market to spur in the forecast period.


Expansion of Construction Industry and Manufacturing Sector in Emerging Economies to Boost Growth

Rapid expansion of the construction industry is a major factor that is influencing the growth of the market. Key industry players in this market are manufacturing both cord and cordless tools that would allow construction workers to use them wherever they want to. Among corded and cordless tools, cordless tools are mostly preferred in the construction industry.

Moreover, the increasing use of these tools in the manufacturing sector is also playing an important role in pushing the market in an upward direction. Many times, small and mid-sized manufacturing enterprises are bound to use these tools, owing to their flexibility and capability of delivering productive solutions to their customers.

Furthermore, to provide better products to end-users, leading manufacturers across the globe are collaborating with each other. This is allowing manufacturers to develop efficient products, especially for employees working in the construction industry and manufacturing sector. For instance, in May 2018, Robert Bosch Tool Corporation and Triax Technologies, Inc. partnered up to develop a tracking solution device, which will allow construction firms to track the equipment and tool location, monitor real-time worker, asset utilization, and safety data.


Price Fluctuations of Raw Materials to Hinder Growth of Power Tools

These tools are expected to generate huge demand from industrialized countries, such as the US, U.K., Japan, China, India, and many more. However, price fluctuation of raw materials is an important factor that is affecting the growth of the market. Generally, these tools are made up of materials such as steel, metal, and aluminum. These materials are usually imported from other countries and the price fluctuations majorly depend on the exchange rates and increasing volatility of markets. Hence, regular price fluctuation in raw materials is the primary factor that is hampering the growth of the market.


By Mode of Operation Analysis

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Electric Segment is Expected to Dominate the Market

On the basis of the mode of operation, the market is categorized into electric, pneumatic, and others which include hydraulic tools. Among these, the electric tools segment includes cordless and corded tools. It would remain dominant and is also anticipated to witness notable growth. Moreover, it is being observed that the electric power tools market has revolutionized the work culture of industries such as automotive, construction, and others, as it saves time and efforts required for conducting various operations. According to the European Power Tool Association, the rechargeable battery industry beholds a heavy investment in research & development activities. As a result, cordless tools are expected to witness a huge demand during the forecast period.

Furthermore, the demand for pneumatic tools is estimated to slow down as these are expected to be replaced by electric tools. Pneumatic tools work on compressed air and are conventional in nature but are resulting in the overuse of energy. According to the U.S. Department of Energy, tools that are powered with compressed air are less efficient for any manufacturing plant. Also, such tools are frequently used inaccurately. Therefore, the demand for these tools is anticipated to deteriorate over the forecast period.

Other tools such as hydraulic tools are anticipated to showcase moderate growth over the forecast period.

By Tool Type Analysis

Drilling and Fastening Tools Segment Will Witness Huge Growth in the Forecast Period

Based on the tool type, the market is divided into drilling & fastening tools, material removal tools, sawing and cutting tools, demolition tools, and others, which include routing tools.

The drilling and fastening tools segment is estimated to hold the highest market share in 2020 This is attributed to advancements inculcated in the drilling technology by manufacturers. These advancements have enhanced the characteristics such as resistance to unbalanced temperature, high resistance to shocks and vibrations, and increased durability.

The material removal tools segment is anticipated to witness the highest growth, owing to their demand across car factories, metal processing workshops, and other industrial sites. Material removal tools such as grinders, sanders, and others are also exhibiting considerable penetration across various residential and industrial projects.

Sawing and demolition tools are projected to grow moderately as they have not much hold compared to the drilling tools and material removal tools.

By Application Analysis

Do-it-Yourself (DIY) Tools Application Segment is Expected to Hold the Highest Market Share During the Forecast Period

The do-it-yourself (DIY) segment is projected to have a remarkable impact on the market owing to the growth and trend witnessed by DIY enthusiasts. This is mainly due to the increasing spending capability and rising households across developed and developing countries. Furthermore, there is a broad spectrum of creative DIY enthusiasts who are focusing on getting equipped with the necessary power tools. This, in turn, has attracted market players to focus on manufacturing tools that can be used across the DIY application.

On a perpetual basis, it has been noticed that major manufacturers such as Robert Bosch GmbH and Stanley and Decker are focusing on manufacturing these tools that can be user-friendly. For instance, Robert Bosch is introducing sensor technology for these tools that can make them more intelligent and reduce the risk of injury. Owing to these initiatives and a positive response received from users, the DIY application segment is expected to propel the market revenue.

The industrial segment is anticipated to dominate the market but is expected to witness moderate growth over the forecast period. The dominance of this sector is attributable to the high demand for tools across the aerospace, automotive, energy and power, construction, and other sectors. Despite its dominance, the depreciation in the growth rate is due to the increasing competitive pressure and the reluctance to convince industrialists to switch from manual to power tools.


Asia Pacific Power Tools Market Size, 2020 (USD Billion)

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By region, the global market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

Among these, Asia Pacific has proven to be the dominant and exponentially growing region. The demand for these tools is directly proportional to the increasing industrialization, infrastructure development, and urbanization. Coupled with this, the increasing number of Chinese players that are gaining control over the market and providing tools at competitive pricing would aid growth. Moreover, India is expected to witness significant growth in the market.

Following Asia Pacific, the Middle East and Africa is also projected to have a positive impact on the market. This is mainly attributable to the growing industrialization across the construction, power and energy, and oil & gas sectors. Furthermore, several major players are also finding these regions to be potential zones to expand their business portfolios.

Europe and North America are expected to grow at a steady rate during the forecast period. These regions are considered to be relatively mature and therefore are not able to witness substantial construction expenditures. Likewise, Latin America is also expected to grow at a very moderate rate, owing to the steady growth of the industrial sector.


Major Companies are Focusing on Acquiring Small and Mid-sized Organizations Robert Bosch GmbH, Makita Corporation, Stanley, Black & Decker, Inc., and Hilti Corporation are the major companies in this market. These companies are likely to hold approximately 50% - 55% of the market share. Moreover, they have a strong presence in Asia Pacific, North America, and Europe. Hence, these companies are focusing on acquiring small and mid-sized companies that have strong local presence in the market. This strategy is allowing them to expand their businesses and customer bases in other regions/countries.


  • Robert Bosch GmbH (Germany)

  • Stanley, Black & Decker, Inc. (United States)

  • Hilti Corporation (Liechtenstein)

  • Atlas Copco Ltd. (Sweden)

  • Makita Corporation (Japan)

  • Emerson Electric Co. (United States)

  • Hitachi Koki Ltd. (Japan)

  • Ingersoll Rand. (United States)

  • Techtronic Industries Co. Ltd. (Hong Kong)

  • Enerpac Tool Group (United States)

  • CHERVON (China) Trading Co., Ltd. (China)

  • ANDREAS STIHL AG & Co. KG (Germany)


  • February, 2020 – Makita Corporation launched an innovative nailer named 18 Gauge 2” Brad Nailer (AF506). It is a cordless power tool and features better ergonomics. It can be used on hard and soft wooden surfaces.

  • July, 2017 – Atlas Copco changed the name of its Construction Technique business area into Power Technique. It will target multiple consumers and industrial segments, such as construction, oil and gas, petrochemicals, and many more.


An Infographic Representation of Power Tools Market

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The power tools market report focuses on leading regions across the globe to offer a better understanding to end-users. Moreover, it offers insight of the industry dynamics and analyzes technologies that are utilized at a rapid pace across the world. It also displays some of the key factors and restraints to help readers to gain in-depth knowledge about the market.




Study Period

  2017 – 2028

Base Year


Forecast Period

  2021 – 2028

Historical Period

  2017 – 2019


  Value (USD billion)


By Mode of Operation

  • Electric

  • Pneumatic

  • Others (Hydraulic, etc.)

By Tool Type

  • Drilling & Fastening Tools

  • Material Removal Tools

  • Sawing and Cutting tools

  • Demolition Tools

  • Others (Routing Tools etc.)

By Application

  • DIY

  • Industrial

By Region

  • North America (U.S. and Canada)

  • Europe (Germany, U.K., France and Rest of Europe)

  • Asia Pacific (China, India, Japan, Southeast Asia and Rest of Asia Pacific)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

Frequently Asked Questions

Fortune Business Insights says that the market stood at USD 25.24 billion in 2020.

Fortune Business Insights says that the market is expected to reach USD 33.05 billion in 2028.

A growth of 3.8% CAGR will be observed in the market during the forecast period (2021-2028).

By the mode of operation, the electric segment is expected to lead the market during the forecast period

The growth in the construction industry and manufacturing sector in emerging economies is the key market driver

Robert Bosch GmbH, Makita Corporation, Stanley, Black & Decker, Inc., and Hilti Corporation are the top companies in the market.

The material removal tool segment in terms of tool type is expected to grow significantly at the highest CAGR

The revenue of the market in Asia Pacific in 2020 was USD 8.78 billion.

The development of multi-purpose products and their accessories is the key market trend.

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Power Tools Market Size, Share and Global Industry Trend Forecast till 2026
  • Feb, 2021
  • 2020
  • 2017-2019
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