Business

Global Power Tool Batteries Market to reach US$ 55.04 Bn by 2027

According to a new market research report published by Acute Market Reports, “Power Tool Batteries Market By Technology Type (Lithium Ion, Nickel Cadmium, Others), By Application (Residential, Industrial, Others), and By Geography (North America, Europe, Asia Pacific, and Rest of the World)) – Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the global power tool batteries market is expected to reach US$ 55.04 Bn by 2027, expanding at a CAGR of 7.10% during the forecast from 2019 to 2027.

Market Insights

Li-Ion batteries are mostly used in power tools, which is considered as a scope of technological development for these batteries having lightweight and high energy density. Decreasing price for lithium-ion batteries, its environment-friendly characteristics, and increasing end-user applications in construction and industrial sectors are expected to drive the market for power tool batteries. Consequently, the increasing adoption of Li-ion batteries and continuous development of these batteries for different applications in power tool equipment and cordless power tools is going to fuel the demand for batteries market.

However, Li-Ion batteries are more expensive as compared to other batteries due to its required safety measures to protect it from overheating and discharging. Li-Ion Batteries comes under dangerous goods in international transport law and have some special regulations and policies for its transportation. Due to its volatility nature, globally the li-ion battery supply chains are becoming more regulated.

The Nickel Cadmium batteries are most convenient due to its performance in tough conditions, and inexpensive nature. However, due to some environmental concerns, its durability, and repetitive maintenance cost the battery leads to restraint its use for power tools battery market.

Increasing construction works for residential, industrial, and transportation developments are going to drive the market for power tool batteries. Moreover, increasing rate of penetration and decreasing cost of lithium ion batteries are expected to drive the market over forecasted period. Growing demand for power tools from consumer end and rapid urbanization worldwide may boost the demand for power tool batteries market.

North America is one of the strongest economies and holds the largest power tool batteries market worldwide. Demand for power tools are extremely high due to increasing number of manufacturing and construction activities in this region. In addition to this, the resource-sector development in oil & gas and mining, and construction sectors are highly propelled from investments in bulk electric power generation and transmission, and other related infrastructures.

However, the cost associated with cordless power tools, safety measures followed during its transportation, decreasing price of Li-Ion batteries, and higher maintenance cost are the restraining factors for the growth of power tool batteries market.

Browse Full Report At https://www.acutemarketreports.com/report/power-tool-batteries-market

The Global Power Tool Batteries Market is Segmented into:

ATTRIBUTE DETAILS
Research Period 2017-2027
Base Year 2018
Forecast Period 2019-2027
Historical Year 2017
Unit USD Billion
Segmentation By Technology Segment (2017–2027; US$ Bn)
By Application Segment (2017–2027; US$ Bn)
By Geography Segment (2017–2027; US$ Bn)

*Complete segmentation list is on report page

Some of the leading manufacturers profiled in the study includes Bosch Ltd., Hitachi, Ltd., Makita Corporation, Panasonic Corporation, Ryobi Limited, Samsung SDI, Sony Corporation, Stanley Black and Decker Inc., Panasonic Industrial Devices & Solutions and LG Chem.

About Us
Acute Market Reports is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives.

Media Contact
Name: Chris Smith
Address: 105 N 1st ST #429,
SAN JOSE, CA 95103 US
(US/CANADA) Ph.: +1-855-455-8662
E-mailsales@acutemarketreports.com

Ajay Dabhi

Recent Posts

Chiplets Market

The semiconductor industry is on the brink of a transformative era with the rapid adoption…

4 days ago

Detecting Insurance Fraud: The Future of Risk Prevention

Overview Insurance fraud is a major challenge for the industry, leading to financial losses and…

4 days ago

The Rising Demand for Engineering Plastics: A Market Overview

Engineering plastics are rapidly gaining traction across multiple industries due to their superior mechanical properties,…

4 days ago

The Rise of Automotive MEMS Sensors: Transforming the Auto Industry

Micro-Electro-Mechanical Systems (MEMS) sensors are revolutionizing the automotive industry by enhancing vehicle safety, efficiency, and…

2 weeks ago

Revolutionary Growth in Micro Data Centers Market, Projected to Reach $22.45 Billion by 2033

Forecasted for extraordinary growth, the global micro data centers market is set to expand from…

3 weeks ago

The Rise of Dashcams: How These Small Devices Are Making Big Changes in Road Safety and Insurance

Dashcams, once considered a luxury gadget for car enthusiasts, have now become an essential tool…

4 weeks ago