The cordless power tools market size is witnessing a surge in demand, projected to grow steadily between 2023 and 2027, according to recent forecasts. Valued at USD 12.5 billion in 2022, the market is estimated to expand by USD 4.43 billion during the forecast period, exhibiting a Compound Annual Growth Rate (CAGR) of 4.53%.

One of the key drivers of this growth is the increasing demand for cordless battery power tools across various sectors. From electronic devices to forklifts, cordless tools are becoming indispensable in industries worldwide. In regions like Japan and South Asia, where lightweight vehicles are preferred, these tools play a significant role, driving market expansion.

Source prnewswire