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Power Tools Market Size, Share & COVID-19 Impact Analysis, By Mode of Operation (Electric, Pneumatic, and Others), By Tool Type (Drilling & Fastening Tools, Material Removal Tools, Sawing & Cutting Tools, Demolition Tools, and Others), By Application (DIY and Industrial), and Regional Forecast, 2022-2029

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



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The global power tools market size was valued at USD 25.87 billion in 2021 and is projected to grow from USD 26.61 billion in 2022 to USD 35.13 billion by 2029, exhibiting a CAGR of 4.0% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of -0.6% in 2020 as compared to 2019.

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 using handy and energy-efficient tools. These tools provide comfort while operating that allows for achieving elevated results.

The global market is expected to grow significantly in the forecast period, 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 market's growth.

Companies sell their products in two divisions, including 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, lawnmowers, and edgers are a few gardening products that fall under the consumer product division.


Slowdown in Production Activities to Hamper Market Growth

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, the China Passenger Car Association (CPCA) stated that car sales in China fell by 92% in the first half of February 2020.

Additionally, trade volumes are also expected to fall steeper in sectors with complex value chains, particularly automotive and electronics products. Factory activities were knotted down across most of Asia in March 2020 as the coronavirus 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 to Lay Foundation for Future Growth

Companies such as Atlas Copco AB, Robert Bosch Tool Corporation, Techtronic Industries Co. Ltd., and others are developing 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 hand, consumers are banking on cordless power tool products that are easy to operate on high-torque, light in weight, compact, and efficient. Therefore, consumers' increasing demand for error-less products allows companies to achieve their height of disruptive innovations. For instance, in January 2020, Hilti Corporation introduced a suite of almost 40 new tools, accessories, and systems. The newly introduced tools include a battery-powered cordless fastening tool denoted as ‘BX 3-BT’ and other tools and accessories.

As a result, the development of innovative products is projected to bolster the demand in the future ahead.


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

The rapid expansion of the construction industry is a major factor influencing the growth of the global market. Key players are manufacturing both cord and cordless tools that are allowing construction workers to use them across the applications. Among corded and cordless tools, cordless tools are primarily preferred in the construction industry. Small and mid-sized manufacturing enterprises are bound to use these tools due to their flexibility and capability to deliver productive solutions to their customers.

Additionally, to provide better products to end-users, leading manufacturers across the globe are collaborating with each other. It allows them 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 to develop a tracking solution device, allowing construction firms to track the equipment & tool location and monitor real-time worker, asset utilization, and safety data.


Price Fluctuations of Raw Materials to Hinder Power Tools Market Growth

Power tools are expected to generate huge demand from industrialized countries such as the U.S., the U.K., Japan, China, India, and others. However, price fluctuation of raw materials is an important factor 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 primarily hampering the growth of the market.


By Mode of Operation Analysis

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Electric Segment to Depict Highest Growth Rate with Rising Demand from Construction Sector

On the basis of mode of operation, the market is categorized into electric, pneumatic, and others, including, 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. Additionally, it is being observed that the global market has revolutionized the work culture of construction, automotive industry, and others, as it saves time and efforts required for conducting various operations.

The demand for pneumatic tools is estimated to slow down as electric tools are expected to be replaced. Pneumatic tools work on compressed air and are conventional 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.

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

By Tool Type Analysis

Material Removal Tools across Industrial Applications to Witness High Growth during Forecast Period

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

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, also exhibit considerable penetration across various residential and industrial projects.

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

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

By Application Analysis

Increased Spending Capability and Rising Households to Help Do-it-Yourself (DIY) Tools Depict Highest CAGR

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.

Additionally, 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.

The industrial segment is expected to witness moderate growth in the forecast period. The dominance of this sector in terms of market share is attributable to the high demand for tools across the aerospace, automotive, energy and power, construction, and other sectors.


Asia Pacific Power Tools Market Size, 2021 (USD billion)

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

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 growing 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.

India to Propel Due to Heavy Development of Manufacturing Sector in Asia Pacific

India is projected to develop at the most promising pace in the market, outpacing the rest of emerging markets across the globe. Favorable government policies to boost the manufacturing sector capabilities across the country can be identified as one of the prime reasons behind the development of the market in the country. Furthermore, increasing investments by the Indian tool manufacturers in the research and development activities to develop novel products are augmenting market developments in the region. Governments in multiple states are offering attractive subsidies to set up manufacturing R&D facilities in their respective jurisdiction to increase tool manufacturing and subsequent sales in the region. Additionally, increasing automotive manufacturing clusters and heavy development of the construction sector are estimated to develop at a decent pace in the regional market.

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

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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. Similarly, Latin America is also expected to grow at a very moderate rate, owing to the stable growth of the industrial sector.


Major Players to Focus on Acquiring Small and Mid-Sized Organizations

Prominent market participants have a strong presence in Asia Pacific, North America, and Europe. Hence, these companies are focusing on acquiring small and mid-sized companies with a strong local presence in the market. It allows them to expand their businesses and customer bases in other regions/countries. Textron manufactures electrical and utility tools, test and measurement instruments, and diagnostics for tool & home product segments. This strategic acquisition enhances the product portfolio of Emerson.

Stanley Black & Decker, Inc. to Introduce Industry-leading Tools for Multiple Outdoor Applications

Dewalt, a subsidiary of Stanley Black & Decker, Inc., emphasizes on maximizing the business by strategically introducing newer products for outdoor applications. For instance, in February 2021, Dewalt added outdoor power tools to its lineup in preparation for lawn & home maintenance season and spring landscaping. The newly introduced tools include Electric Cold Water Pressure Washer of 2400 PSI (DWPW2400), corded 18-In. Chainsaw (DWCS600) and String Trimmer Kit (DCST972B).


  • Robert Bosch GmbH (Germany)

  • Stanley, Black & Decker, Inc. (U.S.)

  • Hilti Corporation (Liechtenstein)

  • Atlas Copco AB (Sweden)

  • Makita Corporation (Japan)

  • Emerson Electric Co. (U.S.)

  • Hitachi Koki Ltd. (Japan)

  • Ingersoll Rand (U.S.)

  • Techtronic Industries Co. Ltd. (Hong Kong)

  • Enerpac Tool Group (U.S.)


  • December 2020 - Hilti Corporation announced the expansion of its rotary hammer tools and combination portfolio by introducing ‘TE 70-ATC/AVR’, the influential SDS-Max-Combination Hammer. The newly introduced tool delivers ~40% faster concrete drilling.

  • 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.


An Infographic Representation of Power Tools Market

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The global power tools market report provides detailed information regarding various insights into the industry. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the market trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2022 to 2029 to provide financial competency. The information gathered in the report has been taken from several primary and secondary sources.

Report Scope and Segmentation



Study Period

2018 – 2029

Base Year


Forecast Period

2022 – 2029

Historical Period

2018 – 2020


Value (USD billion)


By Mode of Operation, Tool Type, Application, and Region

By Mode of Operation

  • Electric

  • Pneumatic

  • Others (Hydraulic)

By Tool Type

  • Drilling & Fastening Tools

  • Material Removal Tools

  • Sawing and Cutting tools

  • Demolition Tools

  • Others (Routing Tools)

By Application

  • DIY

  • Industrial

By Region

  • North America (By Mode of Operation, Tool Type, Application, and Country)

    • U.S. (By Mode of Operation)

    • Canada (By Mode of Operation)

  • Europe (By Mode of Operation, Tool Type, Application, and Country)

    • Germany (By Mode of Operation)

    • U.K. (By Mode of Operation)

    • France (By Mode of Operation)

    • Rest of Europe

  • Asia Pacific (By Mode of Operation, Tool Type, Application, and Country)

    • China (By Mode of Operation)

    • India (By Mode of Operation)

    • Japan (By Mode of Operation)

    • Southeast Asia (By Mode of Operation)

    • Rest of Asia Pacific

  • Middle East & Africa (By Mode of Operation, Tool Type, Application, and Country)

    • South Africa (By Mode of Operation)

    • GCC (By Mode of Operation)

    • Rest of the Middle East & Africa

  • Latin America (By Mode of Operation, Tool Type, Application, and Country)

    • Brazil (By Mode of Operation)

    • Mexico (By Mode of Operation)

    • Rest of Latin America

Frequently Asked Questions

Fortune Business Insights says that the market stood at USD 25.87 billion in 2021.

Fortune Business Insights says that the market will reach USD 35.13 billion in 2029.

Registering a CAGR of 4.0%, the market will exhibit steady growth during the forecast period.

The growth in the construction and manufacturing sectors in emerging economies is expected to drive the market

The electric segment is expected to capture the highest CAGR in the market.

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

The material removal tools segment type is expected to capture the highest CAGR in the market.

Asia Pacific is expected to capture the highest CAGR in the market.

Improvement across multi-purpose products and their accessories is the key market trend.

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