According to statistics, the global power tools market is expected to grow from US $23.603.1 million in 2019 to US $39.147.7 million in 2027, maintaining a compound annual growth rate of 8.5% from 2020 to 2027. By region, North America is the most important region in 2019, accounting for more than one-third of the global power tools market, and is expected to grow substantially. In Europe and Asia Pacific, developments in the aerospace industry and the popularity of DIY applications are expected to drive continued growth in power tools in the near future.

In terms of end-user industries, the construction sector is expected to become the world's largest consumer of power tools. In terms of product type, the cordless segment dominates the global power tools market in 2019 in terms of revenue.

In order to meet the growing demand, the leading players in the power tool industry are devoting themselves to introducing a variety of cordless power tools each year. Drive the consumption of cordless power tools, and drive the growth of the entire power tools market.

However, the penetration of automation technology makes it possible to track power tool production from remote platforms (such as mobile application platforms, computer software, etc.). Automation technologies include inventory management solutions to save time and money due to poorly managed tool operations. These technologies have the potential to improve the maneuverability of power tools and thus create opportunities for the continued prosperity of the power tools market.