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The global cordless hammer drills market is expected to grow at a CAGR of 11.22% during 2022-2027

ReportLinker
ReportLinker

MARKET OUTLOOK. Rapid industrialization and increasing household and commercial applications are primarily driving the market. These tools are mainly used in automobiles, aerospace, construction, electronics, and shipbuilding industries.

New York, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cordless Hammer Drills Market - Global Outlook & Forecast 2022-2027" - https://www.reportlinker.com/p06380014/?utm_source=GNW

Customized battery-operated power tools that augment productivity were manufactured due to rising work intensity and plummeting performance. The small, light and powerful batteries offered divergence, and the innovations in battery technology were mainly driven by the trends in the electrical and electronic equipment market. Advances in battery technology also enable the introduction of new products and services in the market. Due to the rapidly shifting technology and rising awareness amongst people, the acceptance of cordless hammer drills is high, given the high-quality performance and efficiency.
Among the two variants in the cordless hammer drills market, brushed and brushless, the brushless is the more sought-after one given its efficiency, low maintenance, and durability, thus attracting demand and helping the entire cordless hammer drills market.

INDUSTRY OPPORTUNITY & CHALLENGE ANALYSIS
RISE IN RENOVATIONS


• The usage of the internet and smartphones, and other devices is increasing with time. Meaning information is now readily available. The readily available information and resources have enabled people to adopt and adapt rapidly. The rise in internet penetration paved the way for more innovative and cost-effective ideas in several verticals. People started to show a keen interest in making changes in and around their personal and professional spaces.
• Developed countries like Europe are witnessing aggressive renovations in the region as the region is adopting energy-efficient ways to support Net Zero emission targets, which calls for numerous upgrades and renovations. All of this is expected to drive the demand for cordless hammer drills, thus boosting the cordless hammer drills market and allowing the players to leverage the industry and earn revenues.

MULTIUTILITY OF CORDLESS HAMMER DRILLS

• Hammer drills are used to drill holes in hard materials and are usually not used for materials on which standard drills are utilized. Hammer drills are occasionally used against hard materials such as concrete, stone, or masonry. However, most hammer drills come with an option to be used as both hammer drills and standard drills by switching off the hammering feature as and when required. So, buying such hammer drills would allow the user to have the benefit of owning multiple tools by investing in just one. Hammer drills have several variants based on voltage, motor type, and other aspects. Users owning a hammer drill can use it for hobbies and DIY activities.

AVAILABILITY OF MORE AFFORDABLE ALTERNATIVES

• Most cordless hammer drills come with the provision of switching the hammer function of the machine and using it like a standard drill machine; by this provision, the hammer drills suffice the need for a general drill machine along with a hammer drill. Users who have the frequent utility of hammer drills prefer buying them and get the added benefit of using them as a standard drilling machine. However, users of standard drill machines do not choose hammer drills, especially the cordless variant, as it is quite expensive given that most require lithium-ion batteries, which hinders the cordless hammer drills market growth.

SEGMENTATION INSIGHTS
INSIGHTS BY MOTOR TYPE


The brushless and brushed cordless hammer drills can be compared based on several parameters: cost, performance, power consumption, usability, maintenance, and more. A few parameters, such as cost and performance, are crucial variables when choosing the most appropriate for usage.

Regarding cost, the brushless variant of the cordless hammer drill is more expensive when compared to the brushed variant, which could pose a challenge to the growth of the cordless hammer drill market. The global brushless cordless hammer drills market was valued at USD 920.87 million in 2021.

Drills with brushed motors are weighty and noisy. If one needs to use it for an extended amount of time while wearing hearing protection, it substantially affects the user’s shoulders and back which could act as a challenge for the brushed-type hammer drills.

Segmentation by Motor Type
• Brushless
• Brushed

INSIGHTS BY APPLICATION

The objective of global industries to achieve sustainability and eco-friendly resources has led to the rise in the installation of renewable energy infrastructures such as wind turbines and solar panels. This will eventually drive the cordless hammer drills market, and the energy sector is expected to grow rapidly. There have been rapid advancements in energy efficiency throughout the globe, and countries adopting energy-efficient ways for which infrastructural changes must be made. These structural changes in infrastructure are expected to demand a lot of renovation, driving the demand for the cordless hammer drills market and helping the market strong.

The commercial application is the largest revenue contributor, followed by the residential sector. It was valued at USD 484.04 million in 2021 and is growing with a CAGR of 11.46%.

Segmentation by Application
• Commercial
• Residential
• Industrial

INSIGHTS BY VOLTAGE

Users have different needs and requirements when owning a power tool, such as cordless hammer drills. This type of tool is mainly used for remodeling and renovation purposes when it comes to commercial applications. When used professionally, it might require cordless hammer drills that have a longer run time and are more potent as the hammer drills are used on rigid materials such as masonry. For professional usage, cordless hammer drills such as the ones that are 18v and above are more beneficial. The global 18V cordless hammer drills market was valued at USD 678.69 million in 2021.

Usually, the higher the number, the better the performance. However, this is not always the case when purchasing cordless hammer drills and similar tools. 12-volt drills and equipment are suitable for everyday tasks. This is because they provide enough power to complete the tasks without the additional bulk of a bigger tool. The global 12V cordless hammer drills market is growing at a CAGR of 10.65% during the forecast period.

Segmentation by Voltage
• 12V
• 18V
• 20V & Above

INSIGHTS BY CHUCK SIZE

Due to high torque, a 1/2" hammer drill is relatively more powerful than its counterparts. This increases the durability of 1/2" drills. Therefore, it is the most preferred variant amongst its counterparts holding the maximum market share in the global cordless hammer drills market.

The normal chuck size is 10mm, or 3/8", as it is often called. These can only handle a tiny bit and are less powerful than those with bigger chucks. To compensate, they are typically less expensive than other drills. This chuck-size variety produced approximately USD 229.22 million in revenue in the global cordless hammer drills market in 2021.

Segmentation by Chuck Size
• 1/2”
• 3/8” & Above

GEOGRAPHICAL ANALYSIS
The rising economic development, growth of renovation and reconstruction activities, and demand for convenience tools have contributed to the growth of the global cordless hammer drills market. Battery-operated cordless hammer drills have widespread use across the residential and commercial sectors. They are used in various verticals, including construction, renovation, and more.

In 2021, North America was the largest cordless hammer drills market, with a share of 28.16%. Large-scale industries such as construction are driving the region’s market for Li-ion-operated cordless hammer drills. Furthermore, the DIY culture is highly predominant in America that needs tools such as hammer drills when working on tough materials such as concrete and others. With the rise in green building regulations, high disposable income, and immigration rates, the demand for cordless hammer drills is expected to surge during the forecast period. Green building regulations require a lot of changes to be made in terms of sustainability which would lead to a rise in renovation work requiring hammer drills, thus leading to the growth in demand for the cordless hammer drill.

North America was followed by Europe, APAC, Latin America, and MEA, given the rapid growth in the global construction and renovation industry.

Segmentation by Geography

• APAC
o China
o India
o South Korea
o Japan
o Australia
• North America
o US
o Canada
• Europe
o UK
o France
o Italy
o Germany
o Spain
• Latin America
o Brazil
o Mexico
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
o South Africa

COMPETITIVE LANDSCAPE

The global cordless hammer drills market is characterized by low market concentration with high competition. The present scenario drives vendors to alter and refine their unique value propositions to achieve a strong market presence. Currently, the industry is moderately fragmented and is dominated by vendors such as Stanley Black & Decker, Bosch, and TTI. These significant vendors have a global presence in the three major regions of North America, APAC, and Europe.

Vendors must develop new technologies and remain abreast with upcoming innovations to have a competitive advantage. To gain more cordless hammer drills market share, many international players are expected to expand their reach worldwide during the forecast period, especially in the fast-developing countries in APAC and Latin America. In addition, improving global economic conditions will fuel the industry’s growth, making it an attractive time to launch new products.

Key Company Profiles
• Stanley Black & Decker
• Robert Bosch
• Techtronic Industries Company
• Makita
• Hilti

Other Prominent Vendors
• Atlas Copco
• Apex Tool Group
• Ingersoll Rand
• Snap-On
• Koki Holdings
• Emerson
• Panasonic
• Fortive
• Positec
• CHEVRON
• FEIN
• FERM
• AIMCO
• Uryu Seisaku
• INTRSKOL
• Festool
• Kyocera
• CS Unitec
• Dynabrade
• Husqvarna
• STIHL
• Oregon Tool, Inc.

KEY QUESTIONS ANSWERED

1. What is the revenue from the global cordless hammer drills market?
2. What is the growth rate of the global cordless hammer drills market?
3. What is the global cordless hammer drills market projected market size by 2027?
4. Which region dominates the global cordless hammer drills market?
5. What are the key driving factors in the cordless hammer drills market?
Read the full report: https://www.reportlinker.com/p06380014/?utm_source=GNW

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