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MarketersMEDIA / Newsroom / Battery Power Tools Market is Projected to Reach $37.4 billion by 2028

Battery Power Tools Market is Projected to Reach $37.4 billion by 2028

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The automotive industry, and surge in demand for affordable and energy-efficient power tools fuel the growth of the global battery power tools market.

— According to a recent report published by Allied Market Research, titled, “Battery Power Tools Market by Motor Type, Tool, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the global battery power tools market was valued at $20.8 billion in 2020, and is projected to reach $37.4 billion by 2028, growing at a CAGR of 7.5% from 2021 to 2028.

In 2020, the drills segment dominated the battery power tools market, followed by the others segment. The market includes revenue generated by sales of battery power tools used for drilling, screw driving, chiseling, sanding and other such applications for production, packaging, assembly, and maintenance operations. These tools includes battery operated cordless handheld machine drills, saws, nailers, grinders, impact wrench, and other types of battery power tools.

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Leading Players:

The major players profiled in the market include Apex Tool Group, Atlas Copco AB, Hilti Corporation, Ingersoll-Rand PLC, Hitachi Ltd., Makita Corporation, Robert Bosch GmbH, Snap-On Incorporated, Stanley Black and Decker, and Techtronic Industries. These major companies in the market have adopted strategies such as business expansion, collaboration, acquisition, and product launch, to offer better products and services to customers in the battery power tools market.

Growing adoption of battery power tools in automotive industry is a major factor that drives the battery power tools market. In addition, introduction of large number of brushless power tools and adoption of affordable and energy-efficient power tools are the factors that are driving the battery power tools market.

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Segmentation:

The global battery power tools market is segmented into motor type, tool, application, and region. Depending on motor type, the market is divided into brushed motor and brushless motor. By tool, it is classified into drills, saws, lawn mower, impact wrench, and others. The others segment includes hammers, grinders, nibbler, polishers, planers, staplers, nailers, and others. The applications covered in the study are industrial and DIY. The global battery power tools market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Key Findings Of The Study

By motor type, the brushed motor segment was the highest revenue contributor in 2020.
By tool, the drill segment generated the highest revenue in 2020.
By end user, the Industrial segment generated the highest revenue in 2020.

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Read More @ https://www.globenewswire.com/fr/news-release/2021/05/25/2235761/0/en/Global-Battery-Power-Tools-Market-to-Generate-37-40-billion-by-2028-Allied-Market-Research.html#:~:text=Portland%2C%20OR%2C%20May%2025%2C,7.5%25%20from%202021%20to%202028.

Contact Info:
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Address: 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States
Phone: 18007925285
Website: https://www.alliedmarketresearch.com

Source URL: https://marketersmedia.com/battery-power-tools-market-is-projected-to-reach-374-billion-by-2028/89034303

Source: MarketersMedia

Release ID: 89034303

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