Cordless Power Tools Market Set for Growth

The market is projected to expand by $4.43 billion through 2027, driven by battery innovation and DIY trends.

Cordless Tools Improve Ergonomics and Quality for Assembler of Electrical Equipment

After the torque has been set, the cordless screwdrivers are marked with colored rings so that they can be distinguished at a glance. The torque is also written on the tool. Photo courtesy Desoutter

ELMHURST, IL—Global sales of cordless power tools are expected to increase from $12.5 billion in 2022 to more than $16.9 billion in 2027, representing a compound annual growth rate of 4.5 percent, according to market research firm Technavio.

The surge in demand for cordless power tools can be attributed to several factors, including advancements in battery technology, the rise of the do-it-yourself culture, and the integration of 3D printing in manufacturing processes.

Lithium-ion batteries are at the forefront of this technological revolution, offering numerous benefits over traditional battery types, such as nickel-metal hydride and nickel-cadmium. These advantages include a lightweight design, higher energy density, and a longer rechargeable life, which have led manufacturers to increasingly incorporate lithium-ion batteries into their cordless tools.

3D printing technology is also influencing the market by enabling manufacturers to speed up product development, cut costs, and enhance competitiveness. This trend is expected to foster innovation and market expansion in the years to come.

Despite these positive indicators, the market faces challenges, such as economic uncertainties that can affect credit availability and manufacturing costs, potentially impacting product prices and demand. However, the professional segment, which includes industries like construction, manufacturing and automotive, continues to dominate the market. The consumer segment is also expected to grow, influenced by the performance of the housing sector and consumer financial stability.

Source: This article was edited by AI with human oversight.

The ASSEMBLY Show South

ASSEMBLY is thrilled to return to the Music City Center in Nashville, TN for The ASSEMBLY Show SOUTH on May 1-2, 2024. This is a booming time for manufacturing and the U.S. South is right in the heart of the action. According to ASSEMBLY’s most recent annual capital spending survey, the South is projected to account for 31 percent of total spending this year, marking the fifth straight year this region has accounted for at least 30 percent of capital spending in the U.S.

In this session, manufacturers will learn how Quality function deployment (QFD) can transform consumers’ qualitative demands into quantitative parameters that will shape the design of their product and, ultimately, their manufacturing process.

Sponsored by: