North America Power Tools Market Forecast 2027 By Tool Type (Drilling & Fastening, Sawing & Cutting Tools, Demolition, Material Removal, Wrenches), By Mode (Electric Corded, Electric Cordless, Pneumatic), By Application (Construction, Automotive, Aerospace, Energy, Electronics, DIY), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: October 2021   |   Report ID: GR1989   |   Delivery: PDF  Request Free Sample

North America Power Tools Market size surpassed USD 9,750 million in 2020 and is anticipated to exhibit around 6.6% CAGR from 2021 to 2027. Surging demand from the North America construction sector will offer new growth opportunities for the industry growth.

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In the automobile industry, power tools are majorly used by automotive producers and repair & maintenance service providers as automotive manufacturing assembly lines involve a lot of fastening jobs. Similarly, the rising usage of wrenches, sanders, drills, and other power tools in the construction sector is boosting the market demand. Growth in renovation and infrastructural activities in North America will further fuel the market expansion.

North America Market, By Mode

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Electric corded power tools segment will showcase 6.8% growth rate during the forecast period. These power tools are utilized in several industrial applications including energy, aerospace, construction, automotive, and shipbuilding. Technological innovations and usage of batteries in power tools along with the increasing use of electric power tools among residential DIY applications will impel the segment demand across North America.

North America Market, By Tool Type

The drilling & fastening segment will generate over USD 5 billion revenue by 2027 in the North America power tools market. The segment growth is attributed to enhanced adoption of the technology for heavy industrial applications. Electric drilling & fastening tools are significantly used by professionals and DIY consumers. Pneumatic drilling & fastening tools are used in manufacturing plants and industrial applications such as manufacturing, automotive & aerospace.

North America Market, By Application

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In 2020, the construction application segment held more than 30% share in North America power tools market. Electric corded and pneumatic power tools are extensively used in the construction sector. In the construction industry, power tools are used for drilling, nailing, wrenching, etc. The segment is expected to grow due to rapid expansion in the construction sector along with the bulk utilization of power tools in construction projects in the U.S.

Competitive Industry Landscape

The major players involved in the market include Robert Bosch GmbH, Hilti Corporation, Techtronic Industries, Stanley Black & Decker, Apex Tool Group, Atlas Copco, Makita Corporation, Emerson Electric Co., Hitachi Koki Ltd., and Enerpac Tool Group.