Global cordless drills market is estimated to grow at a prominent CAGR over the forecast period, i.e., 2022 – 2031

NEW YORK CITY, NEW YORK, UNITED STATES, October 31, 2022 /EINPresswire.com/ -- Research Nester published a report titled “Cordless Drills Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global cordless drills market in terms of market segmentation by drill type, battery type, application, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global cordless drills market is anticipated to attain a prominent CAGR over the forecast period, i.e., 2022 – 2031.The market is segmented by drill type into hammer & rotary drill, impact power drill, and others ,out of which, the impact power drill segment is anticipated to hold a substantial share over the forecast period, on account of, higher demand for impact power drill in the construction sector, backed by its higher strength and extra torque.

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The global cordless drills market is estimated to grow on the back of increasing demand for portable battery-powered power equipment. Drilling machine is an integral tool for any construction activity, as it is used to drill holes in rigid surfaces, and install screws. The increasing demand for portable, easy to use, and compact drilling machine is estimated to boost the market growth. Moreover, cordless drills are not bound with the need for electricity connection, which means, they can be used outdoors as well. This is estimated to boost the market growth.

On the basis of geographical analysis, the global cordless drills market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period, on the back of the increasing construction activities in the region. The U.S. construction industry valued around USD 1.4 trillion in 2020. Moreover, the growing demand for cordless drills amongst the common public for domestic use, is estimated to boost the market growth.

For more information about this report visit: https://www.researchnester.com/reports/cordless-drills-market/4025

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Increasing Use of Cordless Drills for Outdoor Applications to boost the Market Growth

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Cordless drills run on battery, and do not require an electric connection, which is a major advantage, as electricity outlets are not available at every construction site. Furthermore, the growing use of cordless drills in modular construction, is further estimated to boost the market growth.
However, lack of general awareness about the product is expected to operate as key restraint to the growth of global cordless drills market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global cordless drills market which includes company profiling of Black+Decker Inc., Robert Bosch GmbH, Milwaukee Electric Tool Corporation, Hilti India Private Limited, Stanley Black & Decker, Inc., Hitachi, Ltd., Techtronic Industries Co. Ltd., DeWalt Industrial Tool Company, and STIHL Incorporated. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cordless drills marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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