Battery Power Tools Market to Reach $41.1 Bn, Globally, by 2030 at 6.9% CAGR: Allied Market Research
PORTLAND, Ore., Jan. 21, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Battery Power Tools Market by Motor Type (Brushed and Brushless), Tool (Drills, Saws, Lawn Motors, Impact Wrench and Others) and Application (Industrial and DIY): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global battery power tools industry generated $20.7 billion in 2020, and is anticipated to generate $41.1 billion by 2030, witnessing a CAGR of 6.9% from 2021 to 2030.
- According to the report, the global battery power tools industry generated $20.7 billion in 2020, and is anticipated to generate $41.1 billion by 2030, witnessing a CAGR of 6.9% from 2021 to 2030.
- Surge in adoption of battery power tools in the automotive industry, rise in popularity of brushless battery power tools, and upsurge in demand for affordable & energy-efficient power tools drive the growth of the global battery power tools market.
- This is due to use of battery power tools on large scale in manufacturing and service industries.
- Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global battery power tools market, owing to high expenditure on battery power tools.