NEW YORK, Jan. 5, 2022 /PRNewswire/ -- The "Power Tool Batteries Market - Competitive Analysis, Trends, Drivers, Challenges and Five Force Analysis" report has been added to Technavio's offering. 38% of the market's growth will originate from North America during the forecast period. The US is the key market for power tool batteries market in North America. The report offers an up-to-date analysis of the geographical composition of the market. North America has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. Declining lithium-ion battery prices will facilitate the power tool batteries market growth in North America over the forecast period.
The power tool batteries market is estimated to grow by USD 1.75 billion from 2020 to 2025, growing at a CAGR of 10.73% as per the latest report by Technavio.
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Factors such as the increase in consumer use of power tools & declining lithium-ion battery prices will be crucial in driving the growth of the market. But the high cost of cordless power tool equipment will restrict the market growth. The holistic analysis of the drivers & challenges will help in predicting end goals and refining marketing strategies to gain a competitive edge. The power tool batteries market analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth.
The power tool batteries market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The power tool batteries market report provides complete insights on key vendors including Battery Xpress, BYD Co. Ltd., E One Moli Energy Corp., Hitachi Ltd., LG Chem Ltd., Makita Corp., Ryobi Ltd., Samsung SDI Co. Ltd., Sony Corp., and Techtronic Industries Co. Ltd.
Few companies with key offerings
- Battery Xpress - The company offers various types of power tool batteries which include automotive batteries, laptop batteries, cell phone batteries, Power Wheel batteries, and many more.
- BYD Co. Ltd. - The company offers MINI ES for power tool batteries.
- E One Moli Energy Corp. - The company offers power tool batteries under the brand name Molicel.
- Hitachi Ltd., LG Chem Ltd. - The company offers power tool batteries under the product line EB7M Battery, EB9B Battery, and others.
- Makita Corp - The company offers advanced automotive batteries under power tool batteries.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments
The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
- By Type, the market is classified into Li-ion batteries and nickel batteries.
- By Geography, the market is classified as North America, Europe, APAC, South America, and MEA.
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Power Tool Batteries Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 10.73%
Market growth 2021-2025
USD 1.75 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 38%
Key consumer countries
US, China, Japan, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
Battery Xpress, BYD Co. Ltd., E One Moli Energy Corp., Hitachi Ltd., LG Chem Ltd., Makita Corp., Ryobi Ltd., Samsung SDI Co. Ltd., Sony Corp., and Techtronic Industries Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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