Power Tools Market to Increase Gradually by Reaching a Valuation of USD 36.82 Billion with a CAGR of 4.3% by 2030; Development of Multi-Purpose Products and Additional Accessories is Expected to Create Lucrative Opportunities to Drive Market Pathway

The global power tools market size was valued at USD 28.56 billion in 2024. The market is projected to grow from USD 29.69 billion in 2025 to USD 40.95 billion by 2032, exhibiting a CAGR of 4.7% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Power Tools Market Size, Share & Industry Analysis, By Mode of Operation (Electric, Pneumatic, and Others (Hydraulic)), By Tool Type (Drilling & Fastening Tools, Material Removal Tools, Sawing and Cutting tools, Demolition Tools, and Others (Routing Tools)), By Application (Do-It-Yourself (DIY) and Industrial), and Regional Forecast, 2025 – 2032”.

Rising investments in residential and commercial construction, along with increasing global homes sales, are boosting the need for power tools. Companies are working to develop prducts which require low maintenenace costs and can offer multi-purpose operations at lower prices.

The COVID-19 pandemic posed risks for manufacturers, including reduced productivity due to remote work and increased cybersecurity threats. Industries critical to the market, such as automotive, aerospace, and construction faced severe disruptions, slowing market growth and impacting supplier sales. Techtronic Industries Co. Ltd. responded by enforcing strict safety protocols across its operations. The company swiftly resumed full-scale production in Q2, ramping up output and expanding global sales coverage.

Milwaukee Tool Introduced a new M18 Fuel Short Hedge Trimmer to Enhance Productivity and Control

Milwaukee Tool launched the M18 FUEL Short Hedge Trimmer, designed for enhanced productivity and control. Featuring a brushless POWERSTATE motor and XC8.0 battery, it delivers powerful performance, superior maneuverability, and a lightweight design for efficient trimming.

Embracing of Cordless Power Tools in Residential and Commercial Space to Drive Market Growth

The shift toward cordless power tools is accelerating due to longer battery life, portability, and ease of use. Innovation such as IoT integration, smart connectivity, and sensors are revolutionizing the tools industry. As automation and smart manufacturing gain traction in key sectors, demand for the product is rising. These tools enhance productivity by enabling seamless, real-time operations. With industries prioritizing efficiency and digital transformation, the market is poised for sustained expansion. 

However, supply-demand imbalances, trade policy changes, and geopolitical risks impact material pricing, limiting power tools market growth.

Industry Participants Focus on Product Differentiation to Remain Competitive

Power tool manufacturers are emphasizing product differentiation and technology-driven innovation to remain competitive. Major focus is on enhancing cordless product lines with enhanced efficiency for industrial and DIY applications. Additionally, R&D investments are rising to meet evolving consumer needs. For instance, in August 2023, Hilti Corporation launched the FX-3A cordless stud fusion system, offering automated welding for drilling and fastening in manufacturing and metalworking.   

List of Key Players

• Atlas Copco AB (Sweden)


• Emerson Electric Co. (U.S.)


• Enerpac Tool Group (U.S.)


• Hilti Corporation (Liechtenstein)


• Ingersoll Rand (U.S.)


• Koki Holdings Co. Ltd. (Japan)


• Makita Corporation (Japan)


• Robert Bosch GmBH (Germany)


• Stanley Black & Decker Inc. (U.S.)


• Tectronic Industries Co. Ltd. (China)


• DeWalt (U.S.)


• Hitachi Power Tools (Japan)


• Metabo (Germany)


• Festool (Germany)


• Chervon (China)


• Ryobi (Japan)


• Würth (Germany)


• Fein (Germany)


• Festool (Germany)

Key Industry Development

• June 2024: Milwaukee Tool launched the M18 Overhead Rotary Hammer with an integrated dust extraction system, designed for efficient ceiling drilling. Its lightweight design minimizes fatigue, enhancing comfort and productivity during repetitive overhead tasks.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/power-tools-market-101444

Further Report Findings

• Asia Pacific holds the dominant power tools market share, driven by rapid industrialization, urbanization, and infrastructure expansion. The region’s increasing construction and manufacturing activities are fueling demand. 


• North America ranks second in the market, driven by infrastructure projects and demands from automotive and industrial sectors. Growth is fueled by product innovations from key players focusing on versatile and compact tools.


• Europe’s sector is expanding due to construction and automotive growth, along with innovations in power monitoring and switching technologies. The rising DIY culture also contributes to increasing market demand.

Table of Segmentation