Transparency Market Research delivers key insights on the Asia Pacific cordless power tools market. In terms of revenue, the Asia Pacific cordless power tools market is estimated to expand at a CAGR of 6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the Asia Pacific cordless power tools market.
The Asia Pacific cordless power tools market is broadly affected by several factors, such as the presence of large number of manufacturers and distributors in the market; rise in construction activities; and increasing demand for cordless power tools in DIY techniques among household consumers, which are propelling the market in Asia Pacific. Increasing use in aerospace and shipbuilding has also hugely affected the cordless power tools market.
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Asia Pacific Cordless Power Tools Market: Dynamics
In terms of product type, the cordless power tools market is bifurcated into drills, impact drivers, impact wrenches, screwdrivers, jigsaws, reciprocating saws, circular saws, multi-cutters, shears, angle grinders, routing tools, palm routers, planers, dust extractors, and others. The demand for drills is higher than other products. Based on battery type, the market has been divided into nickel cadmium (NiCd), nickel metal hydride (NiMH), and Lithium-Ion (Li-ion). Lithium-ion is used the most and has the highest share. In terms of motor type, the market is segmented into brushless motors and brush motors. Brushless motors is the preferred cordless power tool as it is easier to use.
Based on motor speed, the cordless power tools market is divided into upto 1000 rpm, 1000-2000 rpm, 2000-4000 rpm, 4000-6500 rpm, 6500-8000 rpm, and above 8000. 4000-6500 rpm motor speed is the most used for automotive, and construction, etc. In terms of torque, the market is bifurcated into upto 15 nm, 15-25 nm, 35-55 nm, and above 55 nm. The Asia Pacific cordless power tools market is likely to remain popular by the 36-55 nm segment with a share margin of 48.0%. Based on battery voltage, the market is bifurcated into 3.6-10V, 11-18V, 19-25V, and 26-36V. 11-18V is expanding at the fastest rate due to increasing preference for these types of batteries for light and medium duty applications.
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Based on battery capacity, the market is divided into 1-1.5 Ah, 1.6 Ah-2 Ah, 2Ah-5Ah, and above 5 Ah. End-users are opting for cordless power tools with battery capacity ranging from 2 Ah and above due to its rising usage in residential, commercial, and industrial sectors. In terms of price, the market is divided into low, medium, and high. Several suppliers are targeting their customers with cost effective products of low and medium range in order to maintain strong relationships. In terms of application, the market is segmented into drilling & fastening, sawing & cutting, material removal, demolition, routing, and others. The drilling & fastening segment is likely to remain popular due to rising usage of cordless power tools in home improvement, furniture making, in garages, construction sites, or workshops which undertake drilling & fastening.
In terms of end-use, the market is segmented into residential, commercial, and industrial (automotive & transportation, aerospace & defense, construction, and others). The cordless power tools market is likely to be influenced by the commercial segment. Based on distribution channel, the market is divided into online, and offline (direct sales, and indirect sales). Offline channel is the preferred mode of distribution for cordless power tools as compared to the online channel.
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Asia Pacific Cordless Power Tools Market: Prominent Countries
In Asia Pacific, an expanding construction sector, along with an extensive industrial sector and professional repair and maintenance services have led to demand for cordless power tools over the last few years. Proven benefits of cordless power tools such as mobility, accessibility, and storage continue to attract manufacturers; also, customers can choose from the wide variety of cordless tools available in the market. The market is likely to be dominated by China with a share margin of 39.0% in 2031. This is due to strong demand for power tools from a wide range of end-users.
Asia Pacific Cordless Power Tools Market: Key Players
Key players operating in the Asia Pacific cordless power tools market are Atlas Copco, CUMI, Hilti Corporation, Ingersoll-Rand Plc, Electrex Power Tools, Emerson Electric Co., Snap-On Incorporated, Husqvarna, iBell Tools, JF Tools India, KOKI Holdings, LSL Tools Private Limited (Xtra), Makita Corporation, Planet Power Tools, Robert Bosch GmbH, Seher Tools & Trade Pvt Ltd. (Yuri), Stanley Black & Decker, and Techtronic Industries.
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