The appetite for cordless electric tools is expected to increase 6.4% per year to $7.6 billion in 2021, according to Cleveland-based research firm Freedonia Group.
Cordless power tools will carry on taking market share from mains powered tools – by 2021 cordless will constitute 41% of the total, the report says.
Earlier this year, Makita provided us with their insight on the shift from mains to cordless tools. The firm cited the advancement of battery technology – which can now deliver the amount of power only previously available by AC motors and mains power and extended runtimes with added longevity – as key to unlocking that market.
Overall, according to Freedonia’s Global Power Tools Market, 9th edition, power tool demand is expected to rise 3.9% every year to a total of $33.2 billion in 2021.
More information about the study is available at https://www.freedoniagroup.com/industry-study/global-power-tools-market-by-region-product-and-market-9th-edition-3519.htm