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What are the recent trends in market size and growth for the power tool accessories market?
The power tool accessories market size has grown strongly in recent years. It will grow from $2.07 billion in 2024 to $2.2 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to an increase in construction and renovation activities, a rise in DIY trends, growth in the automotive industry, demand for precision tools, improvements in material durability, and expanding industrial automation.
The power tool accessories market size is expected to see strong growth in the next few years. It will grow to $2.81 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing construction and DIY activities, rising demand for efficient and durable tools, growing industrial automation, expansion of the e-commerce sector, shift towards cordless tools, and increasing investments in infrastructure development. Major trends in the forecast period include advancements in wireless technology, smart connectivity, enhanced durability, precision engineering, eco-friendly materials, ergonomic designs, and integration with automation systems.
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How have varous drivers impacted the growth of the power tool accessories market?
The rise in construction and renovation activities is expected to propel the growth of the power tool accessories market going forward. The growing construction and renovation activities are driven by increasing urbanization, rising population, and demand for infrastructure development, supported by government initiatives, investments in smart city projects, and advancements in construction technologies. Power tool accessories are essential in construction activities for tasks such as cutting, grinding, drilling, and fastening, enhancing the efficiency and precision of various building and renovation projects. For instance, in February 2023, according to the Office for National Statistics, the UK saw 5.6% annual growth in construction output in 2022, building on a substantial 12.8% increase recorded in 2021. Therefore, the rise in construction and renovation activities drives the power tool accessories market.
What are the primary segments of the power tool accessories market?
The power tool accessories market covered in this report is segmented –
1) By Type: Drill Bits; Circular Saw Blades; Screwdriver Bits; Router Bits; Other Types
2) By Operation Type: Cutting; Drilling; Fastening; Routing And Planning; Other Operation Types
3) By Distribution Channel: Offline; Online
4) By End-User: Industrial; Commercial; Residential
Subsegments:
1) By Drill Bits: Twist Drill Bits; Hammer Drill Bits; Masonry Drill Bits; Spade Drill Bits; Auger Drill Bits; Step Drill Bits; Core Drill Bits; Countersink Drill Bits
2) By Circular Saw Blades: Wood Cutting Blades; Metal Cutting Blades; Diamond Circular Saw Blades; Carbide-Tipped Circular Saw Blades; General Purpose Circular Saw Blades; Abrasive Circular Saw Blades; Specialty Circular Saw Blades
3) By Screwdriver Bits: Phillips Bits; Slotted Bits; Torx Bits; Square Drive (Robertson) Bits; Hex Bits; Pozidriv Bits; Security Bits; Impact Driver Bits
4) By Router Bits: Straight Router Bits; Spiral Router Bits; Edge-Forming Router Bits; Flush Trim Router Bits; Dovetail Router Bits; Chamfer Router Bits; Round-Over Router Bits; Rabbeting Router Bits
5) By Other Types: Sanding Discs And Belts; Jigsaw Blades; Oscillating Multi-Tool Blades; Polishing Pads; Angle Grinder Discs; Taps and Dies; Drill Chucks And Clamps
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Which firms are leading the power tool accessories market?
Major companies operating in the power tool accessories market are Robert Bosch GmbH, Hitachi Ltd, Stanley Black & Decker Inc., Kyocera Corporation, Atlas Copco AB, Emerson Electric Co., Techtronic Industries Company Limited, Hilti Corporation, Ingersoll-Rand Plc, Makita Corporation, Husqvarna Group, Snap-On Incorporated, Chervon Limited (Skil), Festool Group GmbH & Co. KG, Metabowerke GmbH, Klein Tools Inc., L. S. Starrett Company, Bain Capital LP (Apex Tool Group), Silverline Tools, Evolution Power Tools, Craftsman, Dremel, Baier GmbH, EAB Tool Company Inc
What major trends will shape the power tool accessories market during the forecast period?
Major companies operating in the power tools accessories market focus on developing more efficient and durable accessories, such as brushless motors, to improve overall performance, catering to the growing demand for high-performance tools. A brushless motor offers longer runtime and increased durability by eliminating brush replacement, ensuring efficient power usage, and extending the tool’s life. For instance, in June 2022, Robert Bosch GmbH, a Germany-based engineering company, launched the GWS12V-30 12V Max Brushless 3-inch Angle Grinder, built for heavy-duty cutting and featuring a brushless motor, optimized gears, and quick braking for safety and battery efficiency. It features a 19,500 revolutions per minute (RPM) speed that easily cuts through rigid materials, while its compact, ergonomic design offers comfort and control for professionals during extended use. It features an innovative spindle-lock design for quick wheel changes and a fast braking system that halts the wheel in under a second after shutdown. This combination of power, speed, and convenient features makes it a valuable addition to any professional’s toolkit.
Which geographic trends are shaping the power tool accessories market, and which region has the highest market share?
Asia-Pacific was the largest region in the power tool accessories market in 2024. The regions covered in the power tool accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Power Tool Accessories Market Report 2025 Offer?
The power tool accessories market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Power tool accessories are components, attachments, or enhancements designed to improve the functionality, versatility, or performance of power tools. These accessories are critical for various tasks and applications, making power tools more effective for specific jobs. They help to complete jobs faster and more efficiently by providing the right tools for the task.
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