Skip navigation
Reports & Analysis Custom Research Research Subscriptions
Sign In / Create Account Cart
Sign In / Create Account Cart
  • Reports & Analysis
  • Custom Research
  • Research Subscriptions

Resources

  • Analyst Buzz
  • Press Releases
  • Blog
  • Resources & Downloads
  • Impact Tracker

The Freedonia Group

  • Contact
  • About
  • Our Staff
  • Help Center
  • Career Opportunities
Freedonia Market Research Freedonia Group Global Power Tools

Global Power Tools

Industry Reports, Global

Report Overview

Featuring 298 tables and 132 figures – available in Excel and Powerpoint! Learn More
This report includes data from 2011-2031 in 5 year intervals and tables featuring year-by-year data for 2018-2025.

 

This Freedonia industry study analyzes the $42.4 billion global power tools industry. Picture of a drillIt presents historical demand data (2012, 2017, and 2022) and forecasts (2027 and 2032) by product (electric tools, pneumatic tools, tools powered by other energy sources), market (construction, motor vehicle aftermarket, other professional markets, consumer), and region (North America, Central and South America, Western Europe, Eastern Europe, Asia/Pacific, Africa/Mideast). Demand for electric tools is further segmented by product (drills; saws; sanders, polishers, and grinders; other electric tools, parts and attachments for electric tools) and power source (plug-in, cordless). The study discusses the impact of the COVID-19 pandemic. The study also evaluates company market share and competitive analysis on industry competitors including Bosch, Hilti, Makita, Stanley Black & Decker, and Techtronic Industries.

Table of Contents

    • $310.50

    • $390.55

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

    • $676.73

      • $310.50

      • $310.50

      • $395.28

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $310.50

      • $310.50

    • $310.50

      • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $310.50

      • $310.50

      • $310.50

    • $1,858.88

      • $310.50

      • $310.50

      • $434.47

        • $310.50

        • $310.50

      • $1,154.28

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $310.50

      • $310.50

    • $900.13

      • $310.50

      • $310.50

      • $621.13

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $310.50

      • $310.50

    • $1,208.74

      • $310.50

      • $828.51

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $310.50

        • $310.50

        • $310.50

    • $1,901.73

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $572.26

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $409.33

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $423.48

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

    • $1,380.21

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $438.28

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $445.52

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

    • $4,266.13

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $491.95

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $456.09

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $462.51

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $430.40

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $422.58

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $397.22

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $408.12

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $700.63

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

    • $1,832.38

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $426.09

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $427.23

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $496.41

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

    • $3,836.80

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $532.34

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $440.55

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $446.25

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $411.86

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $428.12

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $414.62

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $669.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

    • $1,330.27

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $413.98

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

      • $440.97

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

    • $594.53

      • $310.50

      • $310.50

      • $310.50

      • $358.94

    • $2,764.55

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $310.50

      • $1,785.80

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $310.50

        • $479.75

 

Global demand for power tools is forecast to increase 2.5% per year to $48.0 billion in 2027, a deceleration from the previous period when a pandemic-influenced surge in sales in 2020 and 2021 drove growth. Gains will be supported by increased construction and durable goods manufacturing activity, particularly in lower-income nations. However, weak prospects for consumer sales will hamper the pace of growth in higher-income nations.

Consumer Markets to Remain Elevated Following Pandemic-Driven Peak

Global sales of power tools in the consumer market increased dramatically in both 2020 and 2021. Growth was driven by the social environment of the pandemic, as increased time spent at home sparked heightened interest in DIY home improvement projects and associated products. As social conditions began to normalize in 2022, interest in DIY activities waned and consumers redirected discretionary spending toward away-from-home activities. As a result, power tool sales in the consumer market declined in many countries. This trend is expected to continue in 2023, with the global consumer power tools market contracting further. However, sales will remain far above 2019 levels, with many new power tool purchasers retaining a longer-term interest in DIY activity.

Power Tool Prices Expected to Stabilize but Remain Elevated

Global average power tool prices increased faster than historically typical rates in 2021 and 2022, with particularly large price hikes in the latter year. Price growth was attributable to supply chain issues associated with the COVID-19 pandemic, which created an inflationary environment in a wide variety of global markets. Prices of metals and other raw materials spiked, as did the cost of transporting goods. By the early part of 2023, prices of most raw materials had normalized to an extent, typically falling well below peak levels seen in the preceding two years. As a result, recent elevated rates of price growth are not expected to continue. However, the inflationary environment associated with the pandemic also contributed to increased labor costs, and the stickiness of wages will pose an obstacle to any price reductions. Thus, power tool prices are not expected to fall despite lower material costs.

Cordless Electric Tools Continuing to Gain Ground in Professional Markets

Rising market share for cordless electric tools – and corresponding losses for plug-in electric tools – has been a critical trend in the global power tools industry for some time. By 2022, cordless electric tools had already taken a dominant share of consumer markets in higher-income nations, leaving limited opportunities for further market share gains in these segments. However, these products are rapidly gaining share in professional markets, a trend that is expected to continue for some time.

Increased penetration of professional markets by cordless electric tools is mainly attributable to improving battery technology. Battery-powered tools are increasingly able to output sufficient power to meet the needs of professional users, with increased run times further contributing to greater usability. Continued growth for cordless electric tools will be supported by the development of unified battery platforms, which will allow professional operators to maintain a diverse inventory of tools without having to invest in individual batteries for every tool.

Historical Market Trends

Factors impacting power tool demand include:
  • building construction activity
  • manufacturing activity
  • consumer spending levels
In addition, changes in exchange rates and price levels impact power tool demand as measured in US dollar terms.

Due to the volatility of these indicators – in particular building construction – sales can fluctuate significantly from year to year. However, market volatility at the global level is mitigated to an extent by economic development in industrializing countries, which has provided a steady source of growth throughout recent history.

Figure showing Global Power Tool DemandReginal Trends

Production by Region

Most of the world’s largest power tool manufacturers are headquartered in high-income nations, reflecting the historical concentration of demand in these established markets. However, China is by far the largest supplier of these products worldwide, accounting for 44% of global output in 2022.

To a large extent, growth in Chinese production has been driven by offshoring efforts by multinational firms seeking to take advantage of the country’s lower labor costs:
  • A large share of the power tools produced in China are made by foreign firms, and many domestic manufacturers do not have their own brands, instead acting as OEMs or original design manufacturers (ODMs) serving outside suppliers.
  • In spite of the country’s rapidly growing domestic market, there are few Chinese power tool manufacturers that are large by global standards.
Through 2027, global production of power tools is forecast to increase 2.5% per year to $48.0 billion. The Asia/Pacific region will account for the largest share of gains, fueled by continued expansion of the Chinese market and rapid market development in industrializing nations. China will also continue to take a significant share of sales growth in export markets outside the region. While China’s advantage as a producer with low production costs has become less significant as the economy has developed and income levels have risen, its existing power tool industry and supporting infrastructure mean that it will continue to be a leading global exporter.

The US, Germany, and Japan all remain important centers of power tool production, but output in these countries was still collectively less than that in China in 2022. Going forward, gains in domestic output in these countries will be restrained by a slower growth outlook in local markets and continued competition from suppliers in nations with lower production costs.

Figure showing Global Power Tool Production by Region

Power Source Trends

Global power tool sales are forecast to rise 2.5% per year to $48.0 billion in 2027. Electric tools will continue to comprise the largest share of the global power tools market, accounting for 67% of sales gains between 2022 and 2027:
  • Sales of these products will be sustained by their suitability for both professional and consumer applications.
  • Cordless electric tools will post particularly strong gains as performance advances make these increasingly competitive in professional markets.
The outlook for pneumatic tools will be restrained to an extent by increased competition from cordless electric tools. However, pneumatic tools will remain widely used in environments where a cord is not a major constraint, such as in motor vehicle repair shops. Improvements in battery technology will also have some positive impacts on the usability of pneumatic tools, as companies are increasingly offer cordless compressors that improve the convenience of pneumatic tools for applications like roofing.

Sales of other power tools – such as hydraulic and powder-actuated types – will be boosted primarily by expanding professional markets. These products typically feature strong performance in terms of power, a trait that will limit the impact of battery-powered competition in the near term. However, efforts to improve the environmental friendliness of power tool product lines will pose challenges for sales of engine-driven products.

Figure showing Global Power Tool Demand by Power Source

Pricing Patterns

Given the intense degree of competition among producers, pricing is a critical determinant of power tool demand; in developing countries, it is often the primary purchasing criterion. A number of factors determine prices of power tools within a country, including:

  • trends in local inflation

  • intensity of local demand

  • local availability of supplies

  • relative sizes of power tool markets (e.g., consumer versus professional)

Factors such as significant international trade activity and the extensive international production and marketing operations of the major suppliers work to push average power tool prices (adjusted for relative currency fluctuations) near a global average for any given product type and level of quality. There remains, nonetheless, variation on a country-by-country basis.

Prices of power tools vary across product types, ranging from a few dollars for accessories such as saw blades to thousands of dollars for high-performance industrial power tools. In general, electric tools, which are the most commonly used type of tool in the consumer market, are less expensive than pneumatic and other types.

Pricing also varies within product categories. For example, electric drills range from less than $30 for lower-end consumer models to more than $300 for professional cordless drills with advanced features.

Prices for power tools rose at a fast rate in 2021 and 2022, making these one of many products impacted by an inflationary environment associated with the COVID-19 pandemic. Increased prices were mainly attributable to supply chain issues, which contributed to high prices of both raw materials and transporting goods. An unexpected surge in demand among consumers also contributed to high prices.

Figure showing Global Power Tool Pricing Deflator by Power Source

 

Purchase Options

Purchase Report

Select your license:

  • $6,700.00
  • $8,200.00
  • $9,700.00
  • — —
    Section prices in Table of Contents

Subscription Options

License by subscription

Check to see if this report is available through our subscription services.

Subscription Pricing
Already have a subscription? Log in.

Free Sample Report

A free sample report is available.

Questions & Assistance

Our representatives are available to help answer your questions.

Live Chat is Offline
Email us

Share This Report

Copied to clipboard. Could not copy to clipboard.

Download a Free Sample Report Now

Sample Reports include examples of all the tables, charts, infographics and topics included in this study.

Use Licenses

The Single User License (SUL) authorizes a single individual to use the electronic study acquired. Agreement to the SUL is required in order to purchase the study. If you require more than one user a Departmental Site License or Global Site License should be purchased. 

The Departmental Site License (DSL) authorizes up to five users to share the study acquired. Agreement to the DSL is required in order to purchase the study. If your organization requires more than five users, the Global Site License should be purchased.

The Global Site License (GSL) allows everyone in your organization to share the study intelligence. Agreement to the Global Site License terms is necessary in order to purchase it. 

FAQs

Global demand for electric tools is forecast to rise 2.2% per year to $36.3 billion in 2027.
Global demand for plug-in electric tools is projected to decline to $9.6 billion in 2027.
The Asia/Pacific region will account for the largest share of gains, fueled by continued expansion of the Chinese market and rapid market development in industrializing nations.
In 2022, the world’s five largest suppliers of power tools were Techtronic Industries, Stanley Black & Decker, Bosch, Makita, and Hilti.
;

Related Reports and Studies

  • US Lawn & Garden Robots

    Industry Reports

    This Freedonia industry study analyzes the $63 million US lawn and garden robot industry. It presents historical sales data (2012 through 2022), forecasts (2027 and 2032) in value and unit terms by product and market.

    NEW! July 2023 157 pages
    Free sample available
  • Global Roofing

    Industry Reports

    This study analyzes the global roofing industry. Roofing is defined as the primary material used to cover the roof structure of a building to protect it from rain, snow, sunlight, wind, and extremes of temperature. Historical data (2012, 2017, and 2022) and forecasts for 2027 and 2032 are provided for roofing demand (in dollars and square meters), demand by market and product (in square meters), net exports (in dollars), and production (in dollars) on a country-by-country basis.

    NEW! May 2023 479 pages
    Free sample available
  • Global Industrial Fasteners

    Industry Reports

    This Freedonia industry study analyzes the $95 billion global industrial fasteners industry. It presents historical demand data (2012, 2017, and 2022) and forecasts (2027 and 2032) by product, market, and region.

    NEW! August 2023 415 pages
    Free sample available
  • US Hand Tools

    Industry Reports

    This Freedonia industry study analyzes the $6.7 billion US hand tool industry. It presents historical demand data (2012, 2017 and 2022) and forecasts (2027 and 2032). Annual data from 2019-2026 is also presented.

    NEW! June 2023 232 pages
    Free sample available
  • US Outdoor Living Products 2023

    Industry Reports

    This Freedonia industry study analyzes the $43 billion US outdoor living product market. It presents historical demand data (2021 and 2022) and forecasts (2023) for products by application (lawn and yard maintenance; outdoor cooking, entertaining, and recreation; gardening; and outdoor design and landscaping products).

    NEW! June 2023 175 pages
    Free sample available
  • Landscaping Products

    Industry Reports

    Demand for landscaping products is forecast to advance 2.6% annually to $10.7 billion in 2025.

    July 2021 270 pages
    Free sample available
  • Global Power Lawn & Garden Equipment

    Industry Reports

    Global demand for power lawn and garden equipment is forecast to increase 2.4% per year to $28.2 billion in 2025.

    September 2021 407 pages
    Free sample available
  • Global Housing

    Industry Reports

    This Freedonia industry study analyzes the global housing industry, with construction of new housing units expected to grow 2.0% annually to 60.4 million units in 2026.

    March 2023 482 pages
    Free sample available
  • Global Batteries

    Industry Reports

    Global demand for batteries is forecast to rise 12% per year to $234 billion in 2026, with growth coming primarily from real unit increases as pricing for primary and lead-acid batteries moderates from high 2021 levels, and lithium-ion battery prices continue to decline.

    November 2022 501 pages
    Free sample available
  • US Tool Storage Products

    Industry Reports

    Demand for tool storage products is forecast to expand 1.4% annually to $3.8 billion in 2026. Home improvement and renovation activity spiked in 2020 and 2021, prompting consumers and professionals to purchase new or replacement tools, in turn leading to a sharp rise in tool storage product sales.

    December 2022 167 pages
    Free sample available
View More

Have unique research needs?

Freedonia Custom Research listens intently to your needs and objectives. Then we work diligently to define a service offering to meet them.
Learn About Our Custom Research Services

Stay informed with Freedonia

Receive periodic updates about new market research in areas relevant to your business. Have the convenience of Freedonia research at your fingertips when you need it.
  • Contact
  • About
  • Help Center
  • Career Opportunities
  • Press
  • User Agreement
  • Privacy Policy
  • Site Map
Facebook Linkedin Twitter

Additional Resources

  • Market Size Resources
  • Lawn Mowers Research
  • Global Motor Vehicle Research
  • Global Paint & Coatings Research
  • Global Industrial Valves Research
  • Global Agricultural Equipment Research
  • Indoor Air Quality Equipment Research
  • Global Adhesives & Sealants Research
  • Hardscaping Products Research
  • Residential Landscaping Research
  • Food Packaging Research
  • Global Carpets & Rugs Research
  • Global Residential HVAC Research
Copyright © 2023 MarketResearch.com, Inc. All rights reserved.