Corded power tools are used to manufacture and create products with ease and convenience. These tools help perform several tasks such as drilling, routing, buffing, leveling, screw driving, chiseling, and sanding. Power tools help save operation time. They offer better efficiency, as compared to hand tools. There are primarily three main types of power tools: electric power tools, engine drive power tools, and pneumatic power tools. Corded power tools are utilized particularly in residential applications and industrial or commercial applications such as the construction industry.
They are also employed in various industries such as infrastructure, woodworking, construction, automotive, electrical, and electronics. Several industries also demand for custom-built power tools in order to achieve expected output. Corded power tools are used in the manufacture of equipment parts in industries such as construction. Rise in construction activities and improved economic conditions in several regions are expected to boost the corded power tools market.
Rising awareness about using corded power tools as a part of the expanding construction industry is expected to be a key factor driving the corded power tools market. Corded power tools are convenient to use, easy to handle, helpful for significant number of end-user applications, and available in compact sizes. Moreover, growing urbanization, industrialization, and its major roles such as maintenance and construction designs, is expected to propel the corded power tool market. Wireless power tools need to be charged periodically; hence, corded power tools are more convenient and mostly preferred by professionals and consumers.
Additionally, rise in DIY trend is expected to drive the corded power tools market during the forecast period. However, increasing usage of cordless power tools is projected to hamper the global corded power tools market. Nevertheless, introduction of new designs with fewer vibrations, preferred by consumers, is expected to create significant opportunities for the global corded power tools market. Moreover, the rate of adoption of wireless power tools is sluggish due to increasing battery issues. Furthermore, the high prices of Li-ion batteries is expected to restrain the wireless power tools market. These factors are expected to create opportunities for the corded power tools market.
The global corded power tools market can be segment based on product type, application, end-user industry, and region. Based on product type, the market can be classified into saws, lawnmower, angle grinder, hammer drill, and others. In terms of application, the market can be divided into in-house or household application, construction field, industry field, gardening field, and others. Based on end-user industry, the market can be categorized into construction, aerospace industry, shipbuilding, oil & gas, automotive, and electronics. Based on region, the global corded power tools market can be segregated into North America (The U.S., Canada, and Mexico), Europe (Germany, U.K., France, Italy, and Russia), Asia Pacific (China, India, Japan, South Korea, Australia, Malaysia, Philippines, Vietnam, Indonesia, Thailand, and others), Middle East & Africa (GCC and South Africa), and South America.
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Major players operating in the global corded power tools market include Stanley Black & Decker, KEN, Bosch, Jiangsu Jinding, TTI, Positec Group, Makita, Zhejiang Crown, Hitachi Koki, C. & E. Fein, Hilti, Dongcheng, Metabo, Apex Tool Group, Snap-on Incorporated, DEVON (Chevron Group), Festool, Harbor Freight Tools, Atlas Copco AB, Techtronic Industries, Mafell, Hilti, Illinois Tool Works, Danaher, Andreas Stihl, and TTS Tool Technic Systems. Increasing competition in the market is prompting top companies to focus on manufacturing new structured innovative products with sustainable features and expand their production and research facilities in order to strengthen their presence in the global corded power tools market.
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