According to the research report titled ‘Global Cordless Power Tool Market 2022-2028’, available with MarketStudyReport, global cordless power tool market is anticipated to register 9.7% CAGR over the next six years to be worth USD 24423 million by the year 2028.

As per business analysts, growing product adoption in flourishing construction sector in emerging nations, as well as strong government support, and rising income levels of individuals are the major growth determinants for global cordless power tool market.

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For the unversed, a power tool is a portable power tool or a power-driven hand tool. Electric motors are used in most power tools. Compressed air and internal combustion engines are also frequently used. Cordless instruments also provide greater flexibility and portability because they don't have a wire and don't need an external power source. It also lets the staff move about freely without the fear of falling over or tangling a cable when working on numerous tasks or in restricted spaces.

Based on product, worldwide cordless power tool industry is branched into sawing & cutting tools, routers, material removal tools, drilling & fastening tools, demolition tools, and others. In terms of end-user terrain, the market is divided into residential, industrial, and commercial.

On the regional front, the latest trends are studied across North America, Asia Pacific, and Europe. Among these, Asia Pacific industry is slated to witness decent growth in the coming years, owing to rising disposable income of individuals and rapid rate of urbanization in the region.

Coming to competitive landscape, Techtronic Industries Company Limited, Snap-on Incorporated, Robert Bosch GmbH, Positec Tool Corporation, Makita Corporation, Apex Tool Group LLC, Koki Holdings Co. Ltd., Ingersoll Rand Inc., Hilti Corporation, Emerson Electric Co., Atlas Copco AB, and Stanley Black & Decker Inc. are the leading players in worldwide cordless power tool market.