What is Global Li-Ion Battery for Power Tool Market?
The Global Li-Ion Battery for Power Tool Market is a significant sector in the global economy that focuses on the production and distribution of lithium-ion batteries specifically designed for power tools. These batteries are a crucial component in cordless power tools, providing the necessary energy to operate drills, saws, grinders, and other handheld devices. The market's value was estimated at US$ 1807.8 million in 2022, and it is projected to grow to US$ 2306.6 million by 2029. This growth is driven by the increasing demand for cordless power tools in various industries, including construction, manufacturing, and home improvement. The market is also influenced by technological advancements that improve the performance and efficiency of lithium-ion batteries. However, the market faces challenges such as the high cost of lithium-ion batteries and the environmental concerns associated with their disposal. Despite these challenges, the Global Li-Ion Battery for Power Tool Market is expected to continue growing, providing opportunities for manufacturers and distributors in the industry.
Capacity (mAh) 1300, Capacity (mAh) 1500, Capacity (mAh) 2000, Capacity (mAh) 2500, Others (2200 mAh, etc.) in the Global Li-Ion Battery for Power Tool Market:
The capacity of a lithium-ion battery is a critical factor in its performance in power tools. Batteries with a capacity of 1300mAh, 1500mAh, 2000mAh, and 2500mAh are commonly used in the Global Li-Ion Battery for Power Tool Market. A battery's capacity determines how long it can power a tool before needing to be recharged. For example, a 1300mAh battery can provide power for a shorter period than a 2500mAh battery. Therefore, the choice of battery capacity depends on the power requirements of the tool and the duration of its use. Other capacities, such as 2200mAh, are also available in the market to cater to specific needs. However, the capacity is not the only factor to consider when choosing a battery for a power tool. Other factors such as the battery's voltage, energy density, and discharge rate also play a role in its performance.
Cordless Drills/Drivers, Cordless Saws, Cordless Grinders, Cordless Rotary Hammers, Others in the Global Li-Ion Battery for Power Tool Market:
The Global Li-Ion Battery for Power Tool Market serves various applications, including cordless drills/drivers, cordless saws, cordless grinders, cordless rotary hammers, and others. Cordless drills/drivers are one of the most common applications of lithium-ion batteries. These tools are used in a wide range of tasks, from simple home repairs to complex construction projects. Cordless saws and grinders, powered by lithium-ion batteries, offer the advantage of portability and ease of use, making them popular in both professional and DIY settings. Cordless rotary hammers, on the other hand, require batteries with higher capacities due to their high power consumption. Other applications of lithium-ion batteries in power tools include cordless sanders, planers, and multi-tools. These tools benefit from the high energy density and long runtime provided by lithium-ion batteries.
Global Li-Ion Battery for Power Tool Market Outlook:
The global Li-Ion Battery for Power Tool market's outlook is promising, with a projected growth rate of 3.5% from 2023 to 2029. In 2022, the market was valued at US$ 1807.8 million, and it is expected to reach US$ 2306.6 million by 2029. This growth is attributed to the increasing demand for cordless power tools and the advancements in lithium-ion battery technology. The market is dominated by a few major players, with the top three companies accounting for nearly 75% of the global market share in 2018. This dominance is expected to continue during the forecast period, indicating a high level of market concentration. However, there are opportunities for new entrants and smaller players to gain a foothold in the market by focusing on innovation and customer needs.
| Report Metric | Details |
| Report Name | Li-Ion Battery for Power Tool Market |
| Accounted market size in 2022 | US$ 1807.8 in million |
| Forecasted market size in 2029 | US$ 2306.6 million |
| CAGR | 3.5% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Samsung SDI, LG Chem, Murata, TenPower, Panasonic, Tianjin Lishen Battery, BYD, Johnson Matthey Battery Systems, Toshiba, ATL |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
