Press Release

The global power tools market revenue surpassed US$ 36.92 billion in 2024 and is predicted to attain around US$ 58.26 billion by 2033, growing at a CAGR of 25.2% during the forecast period from 2025 to 2033.

The global demand for power tools is on the rise, fueled by the increasing popularity of DIY culture, rapid urbanization, and the growing need for efficiency in industrial operations. As governments worldwide embark on various infrastructure development projects, the demand for power tools in construction activities is expected to expand significantly in the coming years.

For example, the Delta State Government has approved several major infrastructure development projects aimed at urban renewal in Asaba, the capital territory, and Warri, the state's commercial hub. These initiatives are poised to foster substantial investments in non-residential construction projects. As a result, this surge in infrastructure development is likely to further drive the demand for power tools throughout the forecast period, reflecting a broader trend in the market.

Power Tools Market Key Takeaways

• The power tools market is projected to reach a valuation of US$ 58.26 billion by 2033, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period from 2025 to 2033.
• Among the various tool types, drilling and fastening tools emerge as the most dominant category, commanding over 29.50% of the market share. This significant share underscores their essential role across multiple industries, including automotive, aerospace, and construction.
• In terms of application, the industrial segment is the leading force in the power tools market, representing more than 77.60% of the total market share. This dominance highlights the demand for durability and innovation within industrial settings, driving continuous advancements and developments in power tool technology.
• When considering the mode of operation, electric tools hold a substantial lead with over 68.70% market share, primarily due to the advancements in cordless technology.

Asia Pacific to Hold About 30% of Power Tools Market Revenue Share

Asia-Pacific is solidifying its status as the most influential region in the power tools market by 2024, driven by robust construction and manufacturing activities. In 2020, the region held the second-largest market share at over 28.30%, which has since expanded to 30%, surpassing the dominant North American market. 

Currently, there are over 2,300 high-rise projects in various stages of development across major Asian cities, many of which incorporate intelligent drilling systems that facilitate rapid and accurate installations. The infrastructure projects throughout Asia further emphasize the versatility and necessity of drilling and fastening solutions. With the development of new rail corridors, bridges, and commercial complexes, the demand for durable power tools remains strong. 

In 2024 alone, at least 1,800 large-scale development plans have specified drilling and fastening solutions designed for high-endurance tasks, such as rebar installation in earthquake-prone regions. The industries within the region are increasingly adopting sensor-driven designs to ensure real-time monitoring, which enhances both operational efficiency and worker safety.

Market Overview

Power tools are readily accessible through various online and offline distribution channels. Their ease of operation, coupled with a diverse range of shapes and designs, allows users to achieve greater precision in their tasks. As more small and medium-scale end users recognize the value that power tools bring to their projects, the demand for these tools has surged.

In recent years, the popularity of power tools has seen significant growth, largely driven by manufacturers introducing new models equipped with enhanced features and functionalities. This innovation has captivated consumers, many of whom are increasingly engaging in DIY projects, home renovations, and woodworking activities. As a result, the power tools market continues to expand, fueled by this rising interest and the ongoing development of advanced tools that cater to the evolving needs of users.

Market Growth Factors

Driver

Growing DIY Culture and Home Improvement Projects: DIY culture and home improvement projects are major factors driving the market for cordless power tools among homeowners. Many homeowners are choosing to tackle repairs and renovations themselves to save money on labor costs. With the right tools, projects such as painting, landscaping, or even small renovations can be completed efficiently and economically.

Rising Demand for Cordless Power Tools: The construction and automotive sectors are experiencing a significant surge in the demand for cordless power tools. The development of high-capacity lithium-ion batteries has greatly improved the performance and runtime of cordless tools. These advancements allow for longer use between charges, making them more appealing to contractors and mechanics alike.

Restraint

Supply Chain Disruptions: The power tools market has been significantly affected by supply chain disruptions, which have emerged as a critical challenge for manufacturers, retailers, and consumers. The power tools industry relies on various raw materials, including metals, plastics, and electronic components. Disruptions in the supply of these materials—caused by mining restrictions, geopolitical tensions, and increased demand in other sectors—have resulted in increased lead times and production delays.

High Maintenance Costs: High maintenance costs are another significant factor affecting the power tools market, influencing manufacturers and consumers. Frequent use of power tools can lead to wear and tear on critical components such as motors, batteries, and blades. The need for replacement parts can create a financial burden for users, particularly if these components are expensive or not readily available due to supply chain issues.

Top Trends

Integration of IoT and Smart Technology in Power Tools: The integration of the Internet of Things (IoT) and smart technology into power tools is revolutionizing the industry, and enhancing user experience, efficiency, and safety. This technological advancement offers a range of features that not only improve performance but also provide valuable insights for users. 

Advancements in Battery Technology: Recent advancements in battery technology have significantly transformed the landscape of power tools, particularly in terms of performance and portability. These innovations are driving the popularity of cordless tools across various industries, enhancing user experience and expanding the range of applications. 

Recent Developments

• In February 2025, GPH Builders Merchants, a prominent supplier of trade and DIY products in Northeast Scotland, proudly announced its new status as an authorized distributor of Milwaukee power tools. With branches located in Inverurie, Westhill, Stonehaven, and Ellon, GPH is expanding its extensive product offerings to include Milwaukee’s industry-leading range of power tools and accessories, featuring the innovative M18 cordless battery technology.
• In January 2025, Bosch Power Tools is set to launch over 15 new products in the first quarter, primarily within its 18V category. Moreover, the company plans to introduce more than 30 cordless tools, batteries, and chargers for the third consecutive year.
• In January 2025, Hilti North America, a manufacturer of tools, technology, software, and services for the commercial construction industry, expanded its all-in-one Nuron battery platform. This expansion includes technology designed to meet contractors' needs, featuring the launch of the DD 150-U-22 Cordless Diamond Core Rig, two DSH 600/700 Cut-off Saws, and PR 4/40/40G-22 Rotating Lasers.
• In January 2025, Bosch Power Tools will unveil new cordless products at the World of Concrete 2025, providing attendees with hands-on experiences and opportunities to test their concrete-busting capabilities.

Global Power Tools Market Players:

• 3M
• ANDREAS STIHL AG & Co. KG
• APEX Tool Group, LLC
• Atlas Copco AB
• C. & E. FEIN GmbH
• Delta Power Equipment Corporation
• Emerson Electric Co.
• Ferm International B.V.
• Festool GmbH
• Hilti Corporation
• Husqvarna AB
• Ingersoll-Rand
• Interskol
• KOKI Holdings Co. Ltd.
• Kyocera Corporation
• Makita Corporation
• Panasonic Corporation
• Robert Bosch GmbH
• Snap-On
• Stanley, Black & Decker, Inc.
• Techtronic Industries (TTI)
• Positec Tool Group
• Uryu Seisaku, Ltd.
• CS Unitec
• Fortive Corporation
• Other Prominent Players

Market Segmentation:

By Tool Type:

• Drilling and Fastening Tools 
  • Drills
  • Screwdrivers and Nut-Runners
  • Wrenches
  • Drivers
• Demolition Tools 
  • Demolition Hammer
  • Hammer Drill
  • Breaker
  • Rotary Hammer
  • Others
• Sawing and Cutting Tools
  • Circular Saws
  • Jigsaws
  • Multi-Cutter Saws
  • Chop Saws
  • Band Saws
  • Reciprocating Saws
  • Shears and Nibblers
• Material Removal Tools 
  • Grinders
  • Die and Straight Grinder
  • Angle Grinder
  • Rotary Files
  • Bench Grinder
  • Pencil Grinders
  • Sanders
  • Polishers/ Buffers
• Routing Tools 
  • Routers/Planer
  • Joiners
• Air-Powered Tools
  • Air Hoses
  • Air Hammers
  • Air Scalers
  • Others
• Others

By Mode of Operation:

• Electric
• Corded
• Cordless
• Pneumatic
• Hydraulic

By Application:

• Industrial
• Construction
• Automotive
• Aerospace
• Energy
• Shipbuilding
• Metal & Fabrication
• Other Industries
• Residential

By Geography

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)