Power Tool Batteries Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Technology Type (Lithium-Ion, Nickel-Cadmium, and Others), Application Types (Electric Drill, Electric Hammer, Electric Wrench, and Others) and Geography

Market Snapshot

Power Tool Batteries Market - Market Summary
Study Period:

2017-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The market for power tool batteries is expected to grow at a CAGR of approximately 7.67% during the forecast period. Major factors driving the market studied are the rising construction and infrastructure development activities, rapidly growing automotive industry in Asia-Pacific, and rising adoption of power tools. However, high cost associated with cordless power tool equipment is likely to restrain the growth of the market studied.

  • Lithium-ion batteries for power tool dominated the market and is expected to be the leading segment during the forecast period. Even when the scope of utilization of lithium battery has not been tested much but the advantages of it being lightweight cumulated with high energy density provides the path for the growth of the segment during the forecast period.
  • The increasing penetration of Lithium-ion battery and decreasing cost provides the opportunity for the growth of the market.
  • North America dominated the market for power tool batteries during 2018 with increasing demand from the US.

Scope of the Report

The power tool batteries market report include:   

By Technology Type
Lithium-Ion
Nickel-Cadmium
Others
Geography
North America
Asia-Pacific
Europe
Middle East & Africa
South America

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Key Market Trends

Increasing Demand for the Lithium-ion Batteries

  • Li-Ion is the latest type of battery used for power tools, which propels the scope of technological development for these batteries. Li-Ion batteries are lightweight with high energy density. Declining lithium-ion battery prices, environment-friendly characteristics, and rapidly growing end users, like the construction sector and industrial sector are expected to drive the market.
  • However, Li-Ion batteries are more expensive to buy than the alternatives, among other reasons, as they have to be equipped with safety circuit to protect from overheating and total discharging. Other disadvantages include the fact that the batteries must be used regularly and that they age even if they are not used.
  • Li-Ion Batteries are classified as dangerous goods in international transport law and have special regulations for carriage. The chemical contents of these batteries may catch fire if damaged or if improperly designed or assembled. For these reasons, there are safety regulations controlling the shipment of these types of batteries. Due to their volatility, worldwide li-ion battery supply chains are becoming more and more severely regulated.
Power Tool Batteries Market - Key Market Trends

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North America Dominated the Market

  • North America is one of the strongest economies in the world, as the United States, Canada, and Mexico are tightly integrated markets.  North America, including the United States and Canada, is the world’s largest market for electric power tools. Demand for power tools is directly proportional to the construction activity. Manufacturing activity in the region, is also expected to significantly improve, further boosting power tool demand.
  • Power tool batteries market gains in North America are driven primarily by the bedrock US market, especially as a rebound in US housing, accelerated the number of professional tool users. Hence, the demand for power tool batteries.
  • Increase in public spending on infrastructure is expected to be a significant driver, supported by continued positive growth in the residential and non-residential construction industry. The US residential building segment - which accounts for over 40% of total construction industry value is expected continue to see positive growth; driving the demand for power tools in the country.
  • Construction activity in Canada continues to level off, following the last ten years of extraordinary growth, driven by a protracted global resource expansion. In addition to resource-sector development in oil & gas and mining, Canada’s construction sector benefited from coinciding investments in mega electric power generation and transmission, and other significant infrastructure. These combined investments propelled growth, well ahead of other countries, elevating Canada to one of the top 10 construction markets in the world.
  • With continued growth in economy during the forecast period the power tool battery market in the region is expected to register a higher growth rate owing to increase in construction activities.
Power Tool Batteries Market - Regional

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Competitive Landscape

The global power tool batteries market is fragmented and major companies includes Bosch, Hitachi, Makita Corporation, Panasonic, Ryobi, Samsung SDI, Sony Corporation, and Stanley Black & Decker Inc.

Major Players

  1. Bosch
  2. Hitachi
  3. Makita Corporation
  4. Panasonic Corporation
  5. Samsung SDI

* Complete list of players covered available in the table of contents below

Power Tool Batteries Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

    4. 1.4 Market Definition

    5. 1.5 Research Phases

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD million, till 2024

    3. 4.3 Recent Trends and Developments

    4. 4.4 MARKET DYNAMICS

      1. 4.4.1 Drivers

      2. 4.4.2 Constraints

    5. 4.5 Supply Chain Analysis

    6. 4.6 PORTER'S Five Force Analysis

      1. 4.6.1 Bargaining Power of Suppliers

      2. 4.6.2 Bargaining Power of Consumers

      3. 4.6.3 Threat of New Entrants

      4. 4.6.4 Threat of Substitutes

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Technology Type

      1. 5.1.1 Lithium-Ion

      2. 5.1.2 Nickel-Cadmium

      3. 5.1.3 Others

    2. 5.2 Geography

      1. 5.2.1 North America

      2. 5.2.2 Asia-Pacific

      3. 5.2.3 Europe

      4. 5.2.4 Middle East & Africa

      5. 5.2.5 South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Company Profiles

      1. 6.2.1 Bosch Ltd

      2. 6.2.2 Hitachi, Ltd.

      3. 6.2.3 Makita Corporation

      4. 6.2.4 Panasonic Corporation

      5. 6.2.5 Ryobi Limited

      6. 6.2.6 Samsung SDI

      7. 6.2.7 Sony Corporation

      8. 6.2.8 Stanley Black & Decker Inc.

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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