Christy Publications Cordless Power Tools Market | Page 3


o Industrial Assembly
o Others
Household
Read more @
https://www.coherentmarketinsights.com/ongoing-insight/cordless-power-tools-market-613
Increasing demands for automotive production are expected to provide significant boost to
the demand growth
According to Organisation Internationale des Constructeurs d’Automobiles (OICA), international
production of vehicles witnessed an increase of around 4.5% over the year, accounting for an
increase of around 94 million units in 2016. Requirement of power tools to enable human
workforce to support the production tasks along with the high-tech machinery is expected to
drive the demands for power tools. Moreover, Substantial benefits of cordless equipment over
the corded alternatives is expected to generate the demand for replacement of the
conventional instruments. Chief global trends such as demand growth for electronic vehicles
and do-it-yourself (DIY) are expected to augment major growth prospects to the industry.
Lithium-ion (Li-ion) batteries segment is expected to register highest growth over the forecast
period
Nickel Cadmium batteries are the conventional form of batteries that have acquired significant
consumer base in the cordless power tools market. Moreover, low-cost availability and large
scale adoption of equipment powered by these NiCad batteries are expected to witness
significant demands. Li-ion batteries have witnessed significant growth momentum owing to
significant featured benefits over the Ni-Cad batteries, such as low charging times, long power
backups, and high charge density. However, owing to considerable difference in the overall
equipment costs, and occasional requirement in household and few other application segments,
NiCad is expected to witness consistent demand.
Professional end use segment is expected to continue its dominance the cordless power tools
market share
Major requirements in the professional application segments such as construction,
manufacturing, automotive and high affordability of the segment industry participants is
expected to provide strong foothold to the business growth. The household segment is expected