North America Cordless Drilling Power Tool Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 1.8 Billion by 2030, growing at a CAGR of 6.6% from 2024 to 2030.
The North American market for cordless drilling power tools has experienced significant growth, driven by advancements in battery technology and a surge in DIY activities. These tools are essential across various industries, including construction, automotive, and aerospace, due to their portability and efficiency. The demand for cordless drills is projected to reach USD 8.28 billion by 2027, growing at a CAGR of 9.69% from 2021 to 2027. This growth is attributed to the increasing need for efficient and portable tools in both professional and residential settings. citeturn0search3
In the construction sector, cordless drills are indispensable for tasks such as drilling, fastening, and demolition. Their mobility allows professionals to work efficiently without the constraints of power cords, enhancing productivity on job sites. The automotive industry also relies on these tools for assembly and maintenance, where precision and portability are crucial. Additionally, the aerospace industry utilizes cordless drills for assembling intricate components, benefiting from their lightweight design and ease of use.
The rise of DIY culture in North America has further bolstered the demand for cordless drilling power tools. Homeowners undertaking renovation and maintenance projects prefer these tools for their convenience and ease of use. The trend towards home improvement has led to an increase in sales of cordless drills, with the market expected to grow at a substantial rate during the forecast period from 2025 to 2037. citeturn0search8
Advancements in battery technology have significantly enhanced the performance and longevity of cordless drills. The integration of lithium-ion batteries has improved energy density, resulting in longer operational times and reduced charging intervals. This technological progress has made cordless drills more reliable and efficient, meeting the high demands of various industries.
In summary, the North American cordless drilling power tool market is expanding rapidly, driven by technological innovations and a growing preference for portable, efficient tools across multiple industries. The increasing adoption of cordless drills in professional and residential applications underscores their importance in modern construction, automotive, aerospace, and DIY projects. The market's growth trajectory indicates a promising future for cordless drilling power tools in North America.
North America Cordless Drilling Power Tool Market
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TTI
Stanley Black & Decker
Bosch
Makita
HiKOKI
Stihl
Husqvarna
Snap-on Incorporated
Greenworks
Hilti
Dongcheng
Festool
Positec Group
CHERVON
Yamabiko
Jiangsu Jinding
Chicago Pneumatic
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the North America Cordless Drilling Power Tool Market
Professional
Consumer
Based on Types the Market is categorized into Below types that held the largest Cordless Drilling Power Tool market share In 2023.
Electric Drill
Magnetic Base Drill
Other
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the North America Cordless Drilling Power Tool Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. North America Cordless Drilling Power Tool Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America Cordless Drilling Power Tool Market, By Type
6. North America Cordless Drilling Power Tool Market, By Application
7. North America Cordless Drilling Power Tool Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America Cordless Drilling Power Tool Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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