Study #: 4065 | Published: 01/2021 | Pages: 170 | Individual User License: US$ 3,900

Global demand for electric power tools is forecast to rise 3.4% per year to $28.1 billion in 2024. Sales declined 3.0% in 2020, mainly due to the reduction in construction and manufacturing activity caused by the COVID-19 pandemic. However, demand will begin to recover in 2021 as these industries return to growth. The ongoing shift to cordless electric tools will enable particularly strong gains for these products.

Cordless Electric Products Increasingly Penetrating Professional Markets

In 2019, cordless products accounted for only 38% of electric tool demand in professional markets, compared to 55% in consumer markets. Professional users typically have more demanding performance requirements in terms of power and run times, which has slowed their adoption of cordless tools.

However, technological advances – particularly in battery capabilities – are quickly eroding the performance gap between plug-in and cordless tools, and professional users are expected to rapidly shift to cordless products as performance improves. Between 2019 and 2024, cordless products are expected to account for 81% of professional electric tool sales growth, as they rise to account for 45% of demand in this market.

Cordless Technology Reaching New Product Types

In addition to market-based variation, the prevalence of cordless electric technology varies widely by product type. Historically, drills have been by far the most likely to be purchased in a cordless version. In high-income countries, cordless products already accounted for as much as 90% of electric drill demand in 2019, leaving limited room for further growth. Cordless saws are also fairly common, although plug-in variants remain more purchased.

Penetration of cordless technology has been particularly low for sanders, polishers, and grinders. These products tend to be used in ways that require long run times, and cordless products typically run out of battery charge too quickly. However, that has begun to change, and cordless versions of these products are expected to rise to a 22% share of sales in 2024 after being below 1% as recently as 2009.

Consumer Market to Underperform

Sales to consumers are expected to expand more slowly than those to professionals, reflecting the concentration of consumer demand in mature markets. In 2024, the US and Western Europe are expected to account for 60% of consumer electric power tool sales, compared to 47% of professional markets. Historically, electric power tool demand in these countries has been driven by high income levels and cultural proclivities for DIY activity.

In many less developed nations – including China and India – cultural preferences significantly limit interest in DIY. Middle- and upper-class consumers prefer to hire laborers because personally engaging in manual labor is viewed as low status. As a result, consumer markets will not benefit from development-driven growth as strongly as professional markets are expected to. However, successful cultivation of DIY culture in industrializing countries could provide a massive boost to demand in the long run.


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Table of Contents

1. Executive Summary

2. About This Report

Report Details

Study Scope & Product Description

Impact of COVID-19 Pandemic

3. Overview

Historical Market Trends

Demand by Region

Demand by Power Source

Plug-in (Corded) Electric Power Tools

Cordless (Battery-Powered) Power Tools

Demand by End User

Professional

Consumer

Pricing Trends

Competitive Products

Leading Producing Countries

International Trade

Market Share & Leading Producers

4. Technology & Innovation

Battery Innovation

Wireless Charging Stations

Smart Power Tools

5. Products

Demand by Product

Electric Drills

Electric Saws

Power Sanders, Polishers, Grinders

Other Electric Tools

Scope & Product Description

Demand by Type & Region

Batteries, Parts, & Attachments

6. North America

North America: Electric Power Tool Market Size

North America: Demand by Country

United States

Canada

Mexico

7. Central & South America

Central & South America: Electric Power Tool Market Size

Central & South America: Demand by Country

Brazil

Other Central & South America

8. Western Europe

Western Europe: Electric Power Tool Market Size

Western Europe: Demand by Country

Germany

France

United Kingdom

Italy

Spain

Netherlands

Sweden

Other Western Europe

9. Eastern Europe

Eastern Europe: Electric Power Tool Market Size

Eastern Europe: Demand by Country

Russia

Poland

Other Eastern Europe

10. Asia/Pacific

Asia/Pacific: Electric Power Tool Market Size

Asia/Pacific: Demand by Country

China

Japan

South Korea

Australia

India

Other Asia/Pacific

11. Africa/Mideast

Africa/Mideast: Electric Power Tool Market Size

Africa/Mideast: Demand by Country

Turkey

Other Africa/Mideast

12. Appendix

Scope

Definitions

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Country Lists by Region

Macroeconomic Assumptions

Global Economic Outlook

Global Population

Global Building Construction Outlook

Global Manufacturing Outlook

Global Motor Vehicle Production Outlook


List of Tables

2. About This Report

Table 2-1 | Annual Global Electric Power Tool Demand by Product, 2019 - 2021 (million dollars)

3. Overview

Table 3-1 | Global Electric Power Tool Demand, 2009 - 2019 (million dollars)

Table 3-2 | Global Electric Power Tool Demand by Region, 2009 - 2024 (million dollars)

Table 3-3 | Global Electric Power Tool Demand by Power Source, 2009 - 2024 (million dollars)

Table 3-4 | Global Plug-In (Corded) Electric Power Tool Demand by Region, 2009 - 2024 (million dollars)

Table 3-5 | Global Cordless (Battery-Powered) Electric Power Tool Demand by Region, 2009 - 2024 (million dollars)

Table 3-6 | Global Electric Power Tool Demand by End User, 2009 - 2024 (million dollars)

Table 3-7 | Global Professional Electric Power Tool Demand by Product & Power Source, 2009 - 2024 (million dollars)

Table 3-8 | Global Consumer Electric Power Tool Demand by Product & Power Source, 2009 - 2024 (million dollars)

5. Products

Table 5-1 | Global Electric Power Tool Demand by Product & Power Source, 2009 - 2024 (million dollars)

Table 5-2 | Global Electric Drill Demand by Power Source & Region, 2009 - 2024 (million dollars)

Table 5-3 | Global Electric Saw Demand by Power Source, Type, & Region, 2009 - 2024 (million dollars)

Table 5-4 | Global Electric Power Sander, Polisher, & Grinder Demand by Power Source & Region, 2009 - 2024 (million dollars)

Table 5-5 | Global Demand for Other Electric Power Tools by Power Source & Region, 2009 - 2024 (million dollars)

Table 5-6 | Global Electric Power Tool Battery, Part, & Attachment Demand by Region, 2009 - 2024 (million dollars)

6. North America

Table 6-1 | North America: Electric Power Tool Demand by Country & Market, 2009 - 2024 (million dollars)

Table 6-2 | United States: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 6-3 | Canada: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million US dollars)

Table 6-4 | Mexico: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

7. Central & South America

Table 7-1 | Central & South America: Electric Power Tool Demand by Country & Market, 2009 - 2024 (million dollars)

Table 7-2 | Brazil: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 7-3 | Other Central & South America: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

8. Western Europe

Table 8-1 | Western Europe: Electric Power Tool Demand by Country & Market, 2009 - 2024 (million dollars)

Table 8-2 | Germany: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 8-3 | France: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 8-4 | United Kingdom: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 8-5 | Italy: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 8-6 | Spain: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 8-7 | Netherlands: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 8-8 | Sweden: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 8-9 | Other Western Europe: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

9. Eastern Europe

Table 9-1 | Eastern Europe: Electric Power Tool Demand by Country & Market, 2009 - 2024 (million dollars)

Table 9-2 | Russia: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 9-3 | Poland: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 9-4 | Other Eastern Europe: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

10. Asia/Pacific

Table 10-1 | Asia/Pacific: Electric Power Tool Demand by Country & Market, 2009 - 2024 (million dollars)

Table 10-2 | China: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 10-3 | Japan: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 10-4 | South Korea: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 10-5 | Australia: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million US dollars)

Table 10-6 | India: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 10-7 | Other Asia/Pacific: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

11. Africa/Mideast

Table 11-1 | Africa/Mideast: Electric Power Tool Demand by Country & Market, 2009 - 2024 (million dollars)

Table 11-2 | Turkey: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

Table 11-3 | Other Africa/Mideast: Electric Power Tool Demand by Product, Market, & Power Source, 2009 - 2024 (million dollars)

12. Appendix

Table 12-1 | Relevant NAICS & SIC Codes

Table 12-2 | Relevant HS Codes

Table 12-3 | Relevant NACE Codes

Table 12-4 | Countries in North America

Table 12-5 | Countries in Central & South America

Table 12-6 | Countries in Western Europe

Table 12-7 | Countries in Eastern Europe

Table 12-8 | Countries in the Asia/Pacific Region

Table 12-9 | Countries in the Africa/Mideast Region

Table 12-10 | Global Gross Domestic Product by Region & Country, 2009 - 2024 (billion 2018 dollars)

Table 12-11 | Global Population by Region & Country, 2009 - 2024 (million persons)

Table 12-12 | Global Building Construction Expenditures by Region & Country, 2009 - 2024 (million 2018 dollars)

Table 12-13 | Global Manufacturing Value Added by Region & Country, 2009 - 2024 (billion 2018 dollars)

Table 12-14 | Global Motor Vehicle Production by Region & Country, 2009 - 2024 (thousand units)


List of Figures

1. Executive Summary

Figure 1-1 | Electric Power Tools Global Market Outlook

2. About This Report

Figure 2-1 | Global Electric Power Tool Demand, 2009 - 2024 (million dollars)

3. Overview

Figure 3-1 | Global Electric Power Tool Demand, 2005 - 2019 (million dollars)

Figure 3-2 | Global Electric Power Tool Demand by Region, 2009 - 2024 (million dollars)

Figure 3-3 | Comparative Growth Rates for Power Tool Categories, 2019 - 2024 (million dollars)

Figure 3-4 | Global Electric Power Tools: Leading Producing Countries' Growth, 2019 - 2024 (million dollars)

Figure 3-5 | Global Electric Power Tools: Leading Net Exporters & Importers, 2019 (million dollars)

Figure 3-6 | Global Electric Power Tool Market Share by Company, 2019 (billion dollars)

6. North America

Figure 6-1 | North America: Electric Power Tool Market Key Indicators, 2019

Figure 6-2 | North America: Electric Power Tool Demand, 2009 - 2019 (million dollars)

Figure 6-3 | North America: Electric Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 6-4 | United States: Electric Power Tool Market Key Indicators, 2019

Figure 6-5 | Canada: Electric Power Tool Market Key Indicators, 2019

Figure 6-6 | Mexico: Electric Power Tool Market Key Indicators, 2019

7. Central & South America

Figure 7-1 | Central & South America: Electric Power Tool Market Key Indicators, 2019

Figure 7-2 | Central & South America: Electric Power Tool Demand, 2009 - 2019 (million dollars)

Figure 7-3 | Central & South America: Electric Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 7-4 | Brazil: Electric Power Tool Market Key Indicators, 2019

Figure 7-5 | Other Central & South America: Electric Power Tool Market Key Indicators, 2019

8. Western Europe

Figure 8-1 | Western Europe: Electric Power Tool Market Key Indicators, 2019

Figure 8-2 | Western Europe: Electric Power Tool Demand, 2009 - 2019 (million dollars)

Figure 8-3 | Western Europe: Electric Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 8-4 | Germany: Electric Power Tool Market Key Indicators, 2019

Figure 8-5 | France: Electric Power Tool Market Key Indicators, 2019

Figure 8-6 | United Kingdom: Electric Power Tool Market Key Indicators, 2019

Figure 8-7 | Italy: Electric Power Tool Market Key Indicators, 2019

Figure 8-8 | Spain: Electric Power Tool Market Key Indicators, 2019

Figure 8-9 | Netherlands: Electric Power Tool Market Key Indicators, 2019

Figure 8-10 | Sweden: Electric Power Tool Market Key Indicators, 2019

Figure 8-11 | Other Western Europe: Electric Power Tool Market Key Indicators, 2019

9. Eastern Europe

Figure 9-1 | Eastern Europe: Electric Power Tool Market Key Indicators, 2019

Figure 9-2 | Eastern Europe: Electric Power Tool Demand, 2009 - 2019 (million dollars)

Figure 9-3 | Eastern Europe: Electric Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 9-4 | Russia: Electric Power Tool Market Key Indicators, 2019

Figure 9-5 | Poland: Electric Power Tool Market Key Indicators, 2019

Figure 9-6 | Other Eastern Europe: Electric Power Tool Market Key Indicators, 2019

10. Asia/Pacific

Figure 10-1 | Asia/Pacific: Electric Power Tool Market Key Indicators, 2019

Figure 10-2 | Asia/Pacific: Electric Power Tool Demand, 2009 - 2019 (million dollars)

Figure 10-3 | Asia/Pacific: Electric Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 10-4 | China: Electric Power Tool Market Key Indicators, 2019

Figure 10-5 | Japan: Electric Power Tool Market Key Indicators, 2019

Figure 10-6 | South Korea: Electric Power Tool Market Key Indicators, 2019

Figure 10-7 | Australia: Electric Power Tool Market Key Indicators, 2019

Figure 10-8 | India: Electric Power Tool Market Key Indicators, 2019

Figure 10-9 | Other Asia/Pacific: Electric Power Tool Market Key Indicators, 2019

11. Africa/Mideast

Figure 11-1 | Africa/Mideast: Electric Power Tool Market Key Indicators, 2019

Figure 11-2 | Africa/Mideast: Electric Power Tool Demand, 2009 - 2019 (million dollars)

Figure 11-3 | Africa/Mideast: Electric Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 11-4 | Turkey: Electric Power Tool Market Key Indicators, 2019

Figure 11-5 | Other Africa/Mideast: Electric Power Tool Market Key Indicators, 2019

12. Appendix


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