Battery Power Tools Market Size, Share, and Trends 2024 to 2033

Battery Power Tools Market Size and Growth 2024 to 2033

The global battery power tools market size was valued at USD 25.43 billion in 2023 and is anticipated to reach around USD 49.70 billion by 2033, growing at a CAGR of 6.93% from 2024 to 2033.

Battery Power Tools Market Key Takeaways

• Asia Pacific held the largest share of the battery power tools market in 2023.
• By motor type, the brushed motor segment dominated the market in 2023.
• By motor type, the brushless motor segment is observed to be the fastest growing in the battery power tools market during the forecast period.
• By tools, the drills segment dominated the market in 2023.
• By tools, the lawn mower segment is observed to be the fastest growing market during the forecast period.
• By application, the industrial segment dominated the battery power tools market in 2023.
• By application, the DIY segment is observed to be the fastest growing in the battery power tools market during the forecast period.

Battery Power Tools Market Overview

The market for battery power tools is the area of the tools industry that manufactures tools that run on rechargeable batteries rather than conventional corded or gas-powered ones. These tools include various equipment used for DIY tasks, car maintenance, woodworking, gardening, and construction. Although the initial cost of battery-powered equipment may be more than that of their corded equivalents, they frequently result in cost savings over time. Users can avoid the cost of extension cords and the upkeep required for gas-powered instruments. Furthermore, cordless tools usually last longer because they have fewer moving parts and require less maintenance. Removing cords improves workplace safety by lowering the possibility of electrical mishaps and tripping hazards.

• In August 2023, With a $422 million initial investment, the Chinese-based worldwide maker of lithium batteries, EVE Energy, staged a groundbreaking ceremony for its new manufacturing site in Kedah, Malaysia. The latest manufacturing facility, which will be EVE's 53rd, will concentrate on producing cylindrical lithium-ion batteries to support the manufacturing of power tools and electric two-wheelers in the nation and throughout Southeast Asia, the company and the Malaysian Investment Development Authority (MIDA) announced in a joint statement.

Battery Power Tools Market Data and Statistics

• The Indian government is working on a billion-dollar subsidy package to help businesses make electricity grid batteries. According to the Financial Times, India's production-linked incentive subsidy plan is described in a draft proposal. Companies will get 216 billion rupees under this strategy between 2023 and 2030 to set up domestic battery cell manufacturing facilities.

Battery Power Tools Market Growth Factors

• Lithium-ion batteries have a higher capacity, a longer lifespan, and faster charging times than prior battery types. As a result, cordless power tools are now comparable to their corded counterparts in terms of power and versatility.
• Power tools are more in demand as building activity rises, and cordless models are more portable and user-friendly on construction sites.
• Tools that run on batteries are more environmentally friendly than corded models that depend on energy production.
• These products enhance productivity and user experience by providing functions like performance tracking, battery diagnostics, and mobile app integration.
• Cordless tools are more convenient to use and store for sporadic tasks around the house, which appeals to enthusiasts and homeowners.
• Brushless motors are a popular option for battery-powered equipment because they are more efficient, require less maintenance, and have a longer lifespan.

Battery Power Tools Market Scope

Battery Power Tools Market Dynamics

Drivers

Growing do-it-yourself culture

Power tools that run on batteries are now more widely available and reasonably priced than before. The growth of specialized shops, home improvement centers, and internet marketplaces has simplified customers' buying process. Furthermore, technological improvements have made battery-powered tools more affordable and effective, making them a desirable option for do-it-yourselfers. The growth of DIY-focused social media platforms, forums, and online groups has promoted a collaborative and knowledge-sharing culture. The growing culture of DIY solutions is observed to act as a driver for the battery power tools market.

With ease of access to videos, instructions, and troubleshooting hints, do-it-yourself enthusiasts are equipped to take on progressively more complex projects. Because of this sense of community, people are encouraged to invest in high-quality battery-powered instruments that allow them to accomplish professional-grade results without needing specific training or abilities.

Ergonomic design and user-friendly features

Tools that run on batteries and have adjustable settings let customers customize performance to fit their requirements and tastes. Users can enhance performance and adaptability by customizing tools to suit various materials and applications, such as interchangeable accessories, torque settings that can be adjusted, and variable speed controls. Customization possibilities increase the appeal and accessibility of battery power tools for a broader range of sectors and skill levels while catering to a more comprehensive range of customers and applications. This propels the market for battery-powered power equipment to grow.

Restraint

Fluctuations in raw material prices

Changes in the price of raw materials can cause supply chain disruptions because firms may find it difficult to obtain resources at stable rates or face delays due to shortages and thereby can act as a restraint for the battery power tools market. This may cause delayed delivery of completed goods to clients, cause backorders, and upset manufacturing schedules. High and erratic raw material costs may divert resources intended for research and development to enhance product performance, features, or energy efficiency. Alternatively, producers could concentrate on cost-cutting initiatives or other methods of procuring materials to lessen the effects of price swings.

Opportunity

Continuous innovation in tool design and functionality

The demand for environmentally friendly products and solutions is rising across all industries as sustainability becomes an increasingly a priority globally. Developing battery-powered tools that are more energy-efficient and emit less emissions than their conventional gasoline-powered counterparts is made possible by ongoing innovation. For users of power tools, developments in battery recycling and renewable energy sources also contribute to a greener environment. Continuous innovation is a critical differentiator for manufacturers in a competitive industry, helping them to stand out from rivals and gain market share. Businesses investing money into R&D to develop cutting-edge features and technologies frequently get a competitive advantage and draw in clients who appreciate performance and innovation.

Motor Type Insights

The brushed motor segment dominated the battery power tools market in 2023. Since the beginning of power tools, brushed motors have been the standard option. Both makers and consumers widely know them and have a long history of dependable performance. Although the lack of brushes in brushless motors results in benefits like higher efficiency and longer lifespan, many users still view brushed motors as reliable and long-lasting. A brushed motor can function consistently for many years if properly maintained. This image of dependability further cements the market share of brushed motors in battery-operated power tools.

The brushless motor segment is observed to be the fastest growing in the battery power tools market during the forecast period.

The intrinsic efficiency of brushless motors surpasses that of brushed motors. Less friction and heat are produced during operation since brushes do not need to deliver electrical energy to the rotor. Higher performance levels and increased energy conversion efficiency are the outcomes for battery-powered tools. Brushless motors are highly sought-after because they give users more power output, extended run periods, and higher durability. The difference in cost between brushless and brushed motors is decreasing as improvements in motor design and manufacturing techniques persist in development.

Brushless technology's early usage was constrained by its higher cost. However, due to economies of scale and increases in production efficiency, brushless motors are now more cost competitive. This trend further fuels brushless technology's market growth, encouraging manufacturers and consumers to adopt it.

Tools Insights

The drills segment dominated the battery power tools market in 2023. The drills category includes a range of goods designed to meet the requirements and preferences of users. Producers provide a wide range of products to meet different market needs and client specifications, from professional applications requiring heavy-duty drills with high torque and power to smaller, lighter versions for light-duty work. Regarding portability and convenience, cordless drills are superior to their corded counterparts. Users can carry cordless drills to any job site or location without extension cords or power outlets. This makes them perfect for applications where mobility is crucial or access to electricity may be limited.

The lawn mower segment is observed to be the fastest growing in the battery power tools market during the forecast period. In contrast to their gas-powered equivalents, battery-operated lawnmowers generate less noise pollution during operation. Because it allows customers to mow their lawns whenever they choose without bothering their neighbors, this feature is particularly appealing to homeowners in residential areas with potential noise restrictions. Battery-powered lawn mowers may cost more up front than their gas-powered equivalents, but they save money over time. Mowers powered by batteries have fewer moving parts that can break down over time and require less maintenance because they don't require fuel or oil. Additionally, consumers are encouraged to convert to electric alternatives due to rising fuel expenses.

Application Insights

The industrial segment dominated the battery power tools market in 2023. To complete heavy-duty activities, industrial environments, including manufacturing plants, building sites, and maintenance facilities, need strong and capable instruments. Because battery-powered tools are more convenient to use, portable, and offer a more competitive power output than corded tools, they have become trendy in these settings.

The DIY segment is observed to be the fastest growing in the battery power tools market during the forecast period. Using battery-powered equipment is one example of sustainable practices becoming more popular as environmental consciousness grows. Rechargeable batteries lessen waste and its adverse environmental effects by reducing the need for throwaway batteries. Regarding their tasks, do-it-yourselfers who are conscious of their environmental impact are more likely to select battery-powered tools.

• In October 2022, the first phase of the reviva power tool line has been retailed, according to BLACK+DECKER, a Stanley Black & Decker brand that sets the bar for innovation and design of power tools, outdoor yard care equipment, and home items. The Reviva tool series was created to help do-it-yourselfers (DIYers) finish a variety of undertakings.

Regional Insights

Asia- Pacific had largest market share in 2023 in the battery power tools market. The DIY movement has become more popular in many of the region's nations. Due to their portability and ease, battery power tools are becoming increasingly popular among hobbyists, small contractors, and homeowners. The ability to operate in isolated locations without power outlets makes these gadgets very appealing to do-it-yourselfers.

Based in the area, many top producers of battery-powered power tools use the region's extensive supply chains, cheap production costs, and a large pool of trained labor. Due to this, several high-quality and reasonably priced battery-powered power tools are now available on the market, meeting the demands and tastes of a wide range of customers.

North America is observed to be the fastest growing in the battery power tools market during the forecast period. In North America, infrastructure projects, such as building and road construction, repair, and maintenance, are growing. Battery-powered tools are the favored choice for many applications because of their mobility, convenience, and safety features. The market is expected to rise further due to the growing reliance of contractors and other construction professionals on battery-powered equipment to increase productivity and efficiency on job sites.

Its power tool distribution networks are well-established, and a diverse array of retailers, e-commerce platforms, and specialty shops serve consumer and business demands. The market is expanding because of these distribution channels, which make it simple for customers to find and buy battery-powered products.

Battery Power Tools Market Recent Developments

• In February 2024, Alpha and Omega Semiconductor Limited (AOS) has released the AOZ32063MQV gate driver for BLDC motor applications. AOS is a designer, developer, and worldwide provider of a comprehensive range of discrete power devices, wide band gap power devices, power management ICs, and modules.
• In January 2024, Bosch Power Tools plans to introduce more than thirty new cordless items, therefore expanding its range of cordless tools and accessories. During the 2024 World of Concrete Conference in Las Vegas, NV, this new product range and time-honored favorites will be displayed. This will demonstrate the brand's dedication to maintaining tool quality and optimizing solutions for diligent workers on the construction site.
• In September 2023, Echo added 21 new goods to its lineup. The lineup includes a complete variety of handheld eFORCE 56-volt battery-powered tools, including nine new X Series 56V tools. A new battery and two new chargers provide longer run times and more charging choices for the professional landscaper.

Battery Power Tools Market Companies

• Apex Tool Group
• Atlas Copco AB
• Hilti Corporation
• Snap-On Incorporated
• Stanley Black and Decker
• Techtronic Industries
• Ingersoll-Rand PLC
• Hitachi Ltd.
• Makita Corporation
• Robert Bosch GmbH

Segments Covered in the Report

By Motor Type

• Brushed Motor
• Brushless Motor

By Tools

• Drills
• Saws
• Lawn Mower
• Impact Wrench
• Others

By Application

• Industrial
• DIY

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa