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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Market Dynamics
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.
Company Profiles
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
Competitive Analysis
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.
Market Segmentation
- 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 |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.73% |
Market growth 2021-2025 |
USD 1.75 billion |
Market structure |
Fragmented |
YoY growth (%) |
9.23 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 38% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
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. |
Market Dynamics |
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, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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