Market Snapshot:
A power tool battery is a rechargeable energy storage device specifically designed to provide power to portable power tools. Power tools, such as drills, saws, sanders, and grinders, require a source of electrical power to operate. Instead of relying on a constant connection to a power outlet, power tool batteries offer the convenience of cordless operation, allowing users to work in various locations without being constrained by power cords. These batteries are designed to provide the necessary voltage and current to power the specific power tool they are intended for.
Highlights from Power Tool Battery Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Manufacturers profiled in the report are Samsung SDI Co., Ltd. (South Korea), EVE Energy Co., Ltd. (China), Murata Manufacturing Co., Ltd. (Japan), Atlas Copco AB (Sweden), Hilti Corporation (Liechtenstein), Makita Corporation (Japan), Robert Bosch GmbH (Germany), BYD Co. Ltd. (China), LG Chem Ltd. (South Korea) and Sony Corporation (Japan).
Geographic Breakdown and Segment Analysis
The Global Power Tool Battery market presents a comprehensive analysis of the Power Tool Battery market by product type (Nickel-Metal Hybride (NiMH), Nickel-Cadmium (NiCd) and Lithium-ion (Li-ion)), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Power Tool Battery industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Power Tool Battery market
Analyst at AMA have segmented the market study of Global Power Tool Battery market by Type, Application and Region.
Influencing Trend:
Growing Consumer Preference Towards Cordless Power Tools
Market Growth Drivers:
Growing Usage of Power Tools Battery among Various Industries and Rapid Urbanization, Infrastructure Development Projects, and Construction Activities Worldwide Drive the Power Tool Battery Market
Challenges:
Increasing Adoption of Cordless Power Tools, There Is a Growing Concern about the Proper Disposal and Recycling of Power Tool Batteries
Restraints:
High Cost and Maintenance of Batteries Hinder the Market Growth
Opportunities:
Growing Popularity of Online Retail and E-Commerce Platforms Has Made Power Tool Batteries More Accessible To a Wide Range of Customers
In February 2023, EVE Energy, a battery technology company, launched production at its sections 6, 7, 8, and 9 battery plants in Jingmen, Hubei province, totaling 73GWh of capacity. and In May 2022, Makita, a manufacturer of power tools, continues its expansion of the 40V | 80V max XGT System with the announcement of 19 new products. The 19 XGT releases span across trades and applications including residential construction, metalworking, and woodworking as well as dust extraction, outdoor power equipment, and more.
Building a strong brand and reputation is essential in a competitive market. Manufacturers can invest in marketing and branding efforts to establish themselves as reliable, trusted, and innovative providers of power tool batteries. This includes creating a distinct brand identity, emphasizing quality and reliability. Apart from this, players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
Power Tool Battery Manufacturers, Suppliers/Distributors, Potential Investors, Research and Development Institutes, Market Research & Consulting Firms and Others