Increasing in urbanization, and growing demand for construction activities across the globe are the key factor in driving the market for power tool batteries
The global power tool batteries market is poised to reach US$ 55.04 Bn by 2027, expanding at a CAGR of 7.10% during the forecast period from 2019 to 2027. Increase in number of construction and infrastructure projects, rapid growth in automobile sector, and growing adoption of power tools are identified as the major factors driving demand for power tool batteries worldwide. However, higher cost for cordless tools, higher maintenance cost, and government policies and regulation constraints for its transportation are the major challenges faced by power tool batteries market.
Market Synopsis
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Increasing demand for Power Tools in Construction activities are going to drive the market
Growing demand from construction activities such as residential buildings, industrial plants and refineries, roads and bridges, recreational facilities are expected to drive the market for power tools batteries. Increasing urbanization will also leads for the developments of various infrastructures, followed by increasing demand of power tools. Government policies, regulations and concepts on smart cities projects may also be considered as the propelling factors for the growth of power tools which in turn, will increase the demand for batteries over the forecast period. However, industries evolution along with technological developments have creates a need for the use of power tools in the construction industries.
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North America to Dominate, Asia-Pacific to Witness Strong Growth
Increasing demand and investments on infrastructures are going to be the significant drivers, followed by continued positive growth in the residential and non-residential construction industries. In U.S., about 40% of total construction industry represents residential building segment which is expected to have a positive growth driving the demand for power tools batteries. Due to continued growth in economies of North America, the power tool batteries market is going to register a substantial growth over the forecast period owing to increasing in the construction activity.
Asia Pacific continues to grow at a significant rate due to increasing in low product penetration, investments in infrastructural developments, and increasing disposable incomes. In addition to this, increase in numbers of production of power tools in China and India will continue to drive market growth in coming years. In India, the real estate segment is expected to rise lucratively, owing to the demand for semi-urban and urban development. Growing investments in hospitality, retail, and commercial sector is going to fuel the demand for power tools batteries across the region.
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Key Players & Competitive Landscape:
Some of the leading manufacturers profiled in the study includes Bosch Ltd., Hitachi, Ltd., Makita Corporation, Panasonic Corporation, Ryobi Limited, Samsung SDI, Sony Corporation, Stanley Black and Decker Inc., Panasonic Industrial Devices & Solutions and LG Chem.
Historical & Forecast Period
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The research study on power tool batteries market offers market size and forecasts based on market dynamics and predominant trends shaping the industry. The report provides all round view of the global power tool batteries market based on its technology type, application, and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Technology Segment (2017–2027; US$ Bn)
• Lithium Ion
• Nickel Cadmium
• Others
|
|
Application Segment (2017–2027; US$ Bn)
• Residential
• Industrial
• Others
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S. and Rest of North America)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)
|
Key questions answered in this report
- What was the global market size for power tool batteries market in 2017 & 2018?
- What is estimated forecast and market projections up to 2027?
- Which is largest regional power tool batteries market?
- Which end-use vertical has the largest penetration of power tool batteries and related facilities?
- Which are the predominant trends shaping the global power tool batteries market?
- Which is the most promising, attractive, and less-explored end-use segment in the global power tool batteries market?
- Who are the leading manufacturers in the global power tool batteries market?
- What are the premiere strategies adopted by the leading players in the global power tool batteries market?
