Study #: 4066 | Published: 01/2021 | Pages: 150 | Individual User License: US$ 3,900

Global demand for professional power tools is forecast to rise 3.7% per year to $27.7 billion in 2024. While sales declined 3.0% in 2020, mainly due to a reduction in construction and manufacturing activity caused by the COVID-19 pandemic, demand will begin to recover in 2021. Rebounds in these industries will be the largest drivers of sales gains through 2024, while ongoing expansion of the global motor vehicle fleet will also contribute to demand growth in the motor vehicle aftermarket.

Cordless Electric Products Continue to Lead Growth

Cordless electric tools significantly outperformed the market between 2009 and 2019 as battery technology improved. This trend is expected to continue through 2024, with cordless products accounting for 51% of professional power tool sales growth.

While products like cordless drills have been common for some time, the existence of many other types of professional-grade corded tools – particularly sanders, polishers, and grinders – is a relatively new phenomenon. As a result, significant potential for market share gains remains. Factors driving greater adoption of cordless electric tools include:

  • greater power
  • longer run times
  • faster and more convenient battery charging
  • the deployment of product lines built around a single battery architecture

Industrializing Nations to Post Above Average Gains

The COVID-19 pandemic significantly reduced growth outlooks for building construction and manufacturing in mature power tools markets. In the US and West European nations, growth in sales volumes will be limited, and demand gains will be largely attributable to pricing growth as users increasingly invest in advanced cordless products.

Stronger growth will occur in the Asia/Pacific region, with India and China representing the world’s two fastest growing national markets for professional power tools. In addition, industrializing Southeast Asian nations like Indonesia and Vietnam are expected to post rapid gains. Growth in these areas will be driven by relatively strong advances in building construction and manufacturing activity.

Construction Market Fuels Volatility

The construction market is the largest outlet for professional power tools by far; in 2019, it accounted for 61% of sales. As the construction industry tends to be highly volatile, aggregate power tool demand can fluctuate significantly from year to year. However, this is offset to an extent by the motor vehicle aftermarket, as the demand for power tools in automotive maintenance applications is relatively stable.


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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

Impact of Workplace Safety Issues

Leading Producers

4. Markets

Demand by Market

Construction

Motor Vehicle Aftermarket

Industrial & Other Professional Markets

5. North America

North America: Professional Power Tool Market Size

North America: Demand by Country & Product

United States

Canada

Mexico

6. Central & South America

Central & South America: Professional Power Tool Market Size

Central & South America: Demand by Country & Product

Brazil

Other Central & South America

7. Western Europe

Western Europe: Professional Power Tool Market Size

Western Europe: Demand by Country & Product

Germany

France

United Kingdom

Italy

Spain

Netherlands

Sweden

Other Western Europe

8. Eastern Europe

Eastern Europe: Professional Power Tool Market Size

Eastern Europe: Demand by Country & Product

Russia

Poland

Other Eastern Europe

9. Asia/Pacific

Asia/Pacific: Professional Power Tool Market Size

Asia/Pacific: Demand by Country & Product

China

Japan

South Korea

Australia

India

Other Asia/Pacific

10. Africa/Mideast

Africa/Mideast: Professional Power Tool Market Size

Africa/Mideast: Demand by Country & Product

Turkey

Other Africa/Mideast

11. 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 Professional Power Tool Demand by Market, 2019 - 2021 (million dollars)

3. Overview

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

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

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

4. Markets

Table 4-1 | Global Professional Power Tool Demand by Market, 2009 - 2024 (million dollars)

Table 4-2 | Global Professional Construction Power Tool Demand by Region, 2009 - 2024 (million dollars)

Table 4-3 | Global Professional Motor Vehicle Aftermarket Power Tool Demand by Region, 2009 - 2024 (million dollars)

Table 4-4 | Global Industrial & Other Professional Power Tool Demand by Region, 2009 - 2024 (million dollars)

5. North America

Table 5-1 | North America: Professional Power Tool Demand by Country & Product, 2009 - 2024 (million dollars)

Table 5-2 | United States: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 5-3 | Canada: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million US dollars)

Table 5-4 | Mexico: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

6. Central & South America

Table 6-1 | Central & South America: Professional Power Tool Demand by Country & Product, 2009 - 2024 (million dollars)

Table 6-2 | Brazil: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 6-3 | Other Central & South America: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

7. Western Europe

Table 7-1 | Western Europe: Professional Power Tool Demand by Country & Product, 2009 - 2024 (million dollars)

Table 7-2 | Germany: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

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

Table 7-4 | United Kingdom: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 7-5 | Italy: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 7-6 | Spain: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

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

Table 7-8 | Sweden: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 7-9 | Other Western Europe: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

8. Eastern Europe

Table 8-1 | Eastern Europe: Professional Power Tool Demand by Country & Product, 2009 - 2024 (million dollars)

Table 8-2 | Russia: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 8-3 | Poland: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 8-4 | Other Eastern Europe: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

9. Asia/Pacific

Table 9-1 | Asia/Pacific: Professional Power Tool Demand by Country & Product, 2009 - 2024 (million dollars)

Table 9-2 | China: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 9-3 | Japan: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 9-4 | South Korea: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 9-5 | Australia: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million US dollars)

Table 9-6 | India: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 9-7 | Other Asia/Pacific: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

10. Africa/Mideast

Table 10-1 | Africa/Mideast: Professional Power Tool Demand by Country & Product, 2009 - 2024 (million dollars)

Table 10-2 | Turkey: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

Table 10-3 | Other Africa/Mideast: Professional Power Tool Demand by Product, Application, & Power Source, 2009 - 2024 (million dollars)

11. Appendix

Table 11-1 | Relevant NAICS & SIC Codes

Table 11-2 | Relevant HS Codes

Table 11-3 | Relevant NACE Codes

Table 11-4 | Countries in North America

Table 11-5 | Countries in Central & South America

Table 11-6 | Countries in Western Europe

Table 11-7 | Countries in Eastern Europe

Table 11-8 | Countries in the Asia/Pacific Region

Table 11-9 | Countries in the Africa/Mideast Region

Table 11-10 | Global Gross Domestic Product by Region & Country, 2009 - 2024 (billion 2018 dollars)

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

Table 11-12 | Global Building Construction Expenditures by Region & Country, 2009 - 2024 (million 2018 dollars)

Table 11-13 | Global Manufacturing Value Added by Region & Country, 2009 - 2024 (billion 2018 dollars)

Table 11-14 | Global Motor Vehicle Production by Region & Country, 2009 - 2024 (thousand units)


List of Figures

1. Executive Summary

Figure 1-1 | Professional Power Tool Global Market Outlook

2. About This Report

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

3. Overview

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

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

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

4. Markets

Figure 4-1 | Global Professional Power Tool Demand by Application, 2009 - 2024 (million dollars)

5. North America

Figure 5-1 | North America: Professional Power Tool Market Key Indicators, 2019

Figure 5-2 | North America: Professional Power Tool Demand, 2009 - 2019 (million dollars)

Figure 5-3 | North America: Professional Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 5-4 | United States: Professional Power Tool Market Key Indicators, 2019

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

Figure 5-6 | Mexico: Professional Power Tool Market Key Indicators, 2019

6. Central & South America

Figure 6-1 | Central & South America: Professional Power Tool Market Key Indicators, 2019

Figure 6-2 | Central & South America: Professional Power Tool Demand, 2009 - 2019 (million dollars)

Figure 6-3 | Central & South America: Professional Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 6-4 | Brazil: Professional Power Tool Market Key Indicators, 2019

Figure 6-5 | Other Central & South America: Professional Power Tool Market Key Indicators, 2019

7. Western Europe

Figure 7-1 | Western Europe: Professional Power Tool Market Key Indicators, 2019

Figure 7-2 | Western Europe: Professional Power Tool Demand, 2009 - 2019 (million dollars)

Figure 7-3 | Western Europe: Professional Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 7-4 | Germany: Professional Power Tool Market Key Indicators, 2019

Figure 7-5 | France: Professional Power Tool Market Key Indicators, 2019

Figure 7-6 | United Kingdom: Professional Power Tool Market Key Indicators, 2019

Figure 7-7 | Italy: Professional Power Tool Markets Key Indicators, 2019

Figure 7-8 | Spain: Professional Power Tool Market Key Indicators, 2019

Figure 7-9 | Netherlands: Professional Power Tool Market Key Indicators, 2019

Figure 7-10 | Sweden: Professional Power Tool Market Key Indicators, 2019

Figure 7-11 | Other Western Europe: Professional Power Tool Market Key Indicators, 2019

8. Eastern Europe

Figure 8-1 | Eastern Europe: Professional Power Tool Market Key Indicators, 2019

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

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

Figure 8-4 | Russia: Professional Power Tool Market Key Indicators, 2019

Figure 8-5 | Poland: Professional Power Tool Market Key Indicators, 2019

Figure 8-6 | Other Eastern Europe: Professional Power Tool Market Key Indicators, 2019

9. Asia/Pacific

Figure 9-1 | Asia/Pacific: Professional Power Tool Market Key Indicators, 2019

Figure 9-2 | Asia/Pacific: Professional Power Tool Demand, 2009 - 2019 (million dollars)

Figure 9-3 | Asia/Pacific: Professional Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 9-4 | China: Professional Power Tool Market Key Indicators, 2019

Figure 9-5 | Japan: Professional Power Tool Market Key Indicators, 2019

Figure 9-6 | South Korea: Professional Power Tool Market Key Indicators, 2019

Figure 9-7 | Australia: Professional Power Tool Market Key Indicators, 2019

Figure 9-8 | India: Professional Power Tool Market Key Indicators, 2019

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

10. Africa/Mideast

Figure 10-1 | Africa/Mideast: Professional Power Tool Market Key Indicators, 2019

Figure 10-2 | Africa/Mideast: Professional Power Tool Demand, 2009 - 2019 (million dollars)

Figure 10-3 | Africa/Mideast: Professional Power Tool Demand by Country, 2009 - 2024 (million dollars)

Figure 10-4 | Turkey: Professional Power Tool Market Key Indicators, 2019

Figure 10-5 | Other Africa/Mideast: Professional Power Tool Market Key Indicators, 2019

11. Appendix


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