Electric Power Tools Market to Hit USD 56.42 Billion by 2030, Driven by Cordless Innovations

The Electric Power Tools Market is projected to reach USD 56.42 billion by 2030, showing a significant increase from USD 31.87 billion in 2023. This growth, with a CAGR of 8.5%, is driven by a rising demand in construction, automotive, and industrial sectors, as well as advancements in cordless and brushless motor technologies. The surge is also attributed to the need for efficient and high-performance tools across various industries globally, reflecting the growth in urbanization and the popularity of DIY activities. The market analysis utilizes a mix of top-down and bottom-up approaches for assessing market size and segment-level analysis, incorporating primary interviews, secondary research, and country-wise adoption rates. Major market players are focusing on R&D, strategic partnerships, and geographic expansion to strengthen their positions in the market.