Power Tool Companies

Power Tool Manufacturer

The power tool industry has seen tremendous growth over the past decade, driven by advancements in battery technology, brushless motors, and connected tools.

This blog post provides an overview of the power tool market and profiles some of the major players.

The global power tools market was valued at around $36 billion in 2021 and is projected to reach $54 billion by 2030, growing at a CAGR of over 5%. Key factors driving this growth include the construction industry boom, expansion of industrial activity, and increased adoption of cordless power tools.

 

Power Tool Market Size

The power tools industry can be segmented into professional grade tools used in construction, manufacturing, and other trades, and consumer grade tools used for home improvement and DIY projects.

Professional Power Tools

The global professional power tools market size was valued at USD 18.2 billion in 2022. It is expected to reach USD 27.6 billion by 2030, growing at a CAGR of 5.1% from 2023 to 2030. Professional power tools are designed for heavy-duty use in industrial settings like construction, manufacturing, automotive repair, aerospace, shipbuilding, etc.

Key drivers of growth include rising infrastructure projects, growth of heavy industries, technological innovations, and increasing adoption of cordless tools. However, high costs and raw material price volatility may restrain market expansion to some extent.

  • Market size in 2021: $25 billion
  • Expected to reach $37 billion by 2030
  • The largest segment making up around 70% of the total market

Consumer Power Tools

The consumer power tools market size was estimated at USD 13.9 billion in 2022. It is projected to grow to USD 19.8 billion by 2030 at a CAGR of 4.3%. Consumer or residential power tools are used by homeowners, DIY enthusiasts, hobbyists, etc.

For minor tasks and home improvement projects. Market growth is driven by increasing DIY culture, demand for convenient and flexible tools, new product launches with advanced features, and growing online sales. However, competition from low-cost manufacturers may hamper profit margins for established brands.

  • Market size in 2021: $11 billion
  • Expected to reach $17 billion by 2030
  • The fastest growing segment with an increasing DIY activity

 

Power Tool Companies

Here are some of the major players in the global power tools market:

Stanley Black & Decker

Stanley Black & Decker is a Fortune 500 company formed in 2010 through the merger of Stanley Works and Black & Decker.

Headquartered in New Britain, Connecticut, it manufactures and markets power tools, hand tools, engineered fastening systems, and more under iconic brands like Stanley, Black+Decker, Dewalt, Craftsman, Bostitch, and Irwin.

The company has over 60,000 employees globally and generated $16.95 billion in revenue in 2022. Stanley Black & Decker is built on nearly two centuries of tool manufacturing history by Frederick Trent Stanley and the Black & Decker founders.

DeWALT

DeWALT, founded in 1924 by Raymond DeWalt, is a leading manufacturer of professional power tools and hand tools for the construction, manufacturing, and woodworking industries.

Headquartered in Maryland, DeWALT offers drills, saws, sanders, grinders, wrenches, and more. It was acquired by American Machine & Foundry Co. in 1949 and then by Black & Decker in 1960, becoming their flagship brand.

Known for performance, innovation, and durability, DeWALT strives to solve problems identified on job sites through insights directly from users.

Milwaukee Tool

Founded in 1924, Milwaukee Tool Corporation develops and manufactures heavy-duty power tools, hand tools, accessories, storage solutions, and PPE. It serves professionals across mechanical, electrical, and plumbing trades globally.

Milwaukee Tool is recognized as an industry leader renowned for its M12TM, M18TM, and MX FUELTM cordless systems and trade-specific innovations.

The company became a wholly owned subsidiary of Hong Kong’s Techtronic Industries in 2005 but maintains its headquarters in Wisconsin.

Bosch

The Bosch Group, headquartered in Germany, is a leading global supplier of technology and services operating across four business sectors including power tools and accessories.

Founded in 1886 by Robert Bosch, it generated €78.7 billion in sales in 2021 with over 400,000 associates[4]. Bosch Power Tools division offers power tool accessories, measuring tools, cordless tools, drills, sanders, saws, routers, and more for professionals and DIYers.

Known for quality, performance, and innovation, Bosch invests about 9% of its revenues into R&D.

Makita

Makita, founded in 1915, is a manufacturer of power tools, pneumatics, outdoor power equipment, and more.

This global company serves professional construction trades with a focus on performance, durability, and ergonomics across its range of drills, saws, sanders, grinders, demolition hammers, and more.

Makita employs over 16,000 people worldwide across its 13 manufacturing plants. The company is headquartered in Japan but has expanded with sales, marketing, and manufacturing operations globally including in the United States.

Craftsman

The iconic Craftsman brand was launched in 1927 and built its reputation on quality mechanics hand tools and power tools for home DIYers. After nearly a century, it remains one of America’s most trusted tool brands. Craftsman is now owned by Stanley Black & Decker.

Ryobi

Ryobi, founded in Japan in 1943, manufactures power tools, pneumatics, outdoor power equipment, and more. This global company serves DIY and professional users across home improvement, construction, manufacturing, and mechanical trades. Ryobi branded power tools are sold exclusively at Home Depot in North America.

Porter-Cable

With over 100 years of tool innovation, Porter-Cable manufactures saws, sanders, drills, wrenches, and more used by professionals across construction trades. Known for performance and reliability, Porter-Cable joined the Stanley Black & Decker family of brands through a series of acquisitions.

Hilti

Hilti, founded in 1941, offers power tools, software, and services for the professional construction industry. This global company is headquartered in Liechtenstein and serves customers in over 120 countries, specializing in products for drilling, demolition, and installation.

Skil

Skil, founded in 1924, offers power tools and accessories for both DIYers and professionals. As one of the first companies to introduce portable power tools, Skil helped revolutionize jobsite productivity. It is now owned by Chervon Holdings based in China.

Milwaukee

Founded in 1924, Milwaukee Tool Corporation develops and manufactures heavy-duty power tools, hand tools, accessories, storage solutions, and personal protective equipment. Milwaukee tools are currently manufactured in China, Germany, Mexico, the United States, and Vietnam. In 2005 the company became a wholly owned subsidiary of Hong Kong based Techtronic Industries.

Klein Tools

Klein Tools is an American company based in Lincolnshire, IL that manufactures hand tools. Founded in 1857 by German immigrant Mathias Klein, the company is known for its popularity with workers in the electrical and telecommunications industries. Klein Tools currently has offices and facilities in multiple U.S. locations.

RIDGID

With the introduction of the now iconic RIDGID® pipe wrench in 1923, Ridge Tool Company has grown into a leading manufacturer of reliable and durable equipment for professional tradespeople. RIDGID tools are known globally across industries like construction, plumbing and HVAC.

Irwin Tools

Irwin Industrial Tools, founded in 1885 and now owned by Stanley Black & Decker, is a manufacturer and distributor of hand tools and power tool accessories. Best known for its Vise-Grip locking pliers, Irwin also produces clamps, drill bits, screwdrivers, saw blades and more.

Bostitch

With over 100 years of tool innovation, Bostitch manufactures saws, sanders, drills, wrenches and more used by professionals across construction trades. Known for performance and reliability, Bostitch joined the Stanley Black & Decker family of brands through a series of acquisitions.

STIHL

STIHL is a privately held manufacturer of outdoor power equipment for forestry, landscaping, construction and agriculture. Founded in Germany in 1926, STIHL produces handheld outdoor power tools like chainsaws, blowers, trimmers and more sold in over 160 countries.

Fein

Fein is a German power tool manufacturer founded in 1867. Fein produces oscillating multi-tools, angle grinders, rotary and percussion drills, and vacuum cleaners for professional tradespeople. The company focuses on metalworking applications across automotive, HVAC and general industry.

Techtronic Industries (TTI)

TTI owns Milwaukee Tool and Ryobi among other brands. With over $11 billion in sales, TTI is Stanley Black & Decker’s biggest competitor.

  • Milwaukee Tool – Leading brand in professional cordless power tools
  • Ryobi – Consumer tools exclusively sold through Home Depot
  • AEG – Known for reliable and innovative power tools
  • Hoover & Dirt Devil – Vacuum cleaner brands

 

The power tools industry has undergone rapid transformation in recent years, shaped by emerging technologies, evolving consumer preferences, and external factors.

Major trends include the rise of cordless and connected tools, a focus on improved safety and ergonomics, integration of smart features for precision and control, and greater adoption of lithium-ion batteries.

These developments aim to boost productivity, efficiency, and user experience.

At the same time, manufacturers are working to develop more sustainable production methods and materials to reduce environmental impact. There is also a push towards more compact and lightweight designs without compromising durability or functionality.

Online and omnichannel retail is growing, providing greater customer access and convenience. Market demand fluctuates depending on construction, infrastructure, and industrial activity.

While the high costs of raw materials pose challenges, continued innovation and strong expected growth in key sectors seem likely to propel the overall power tools market higher through 2030.

  • Battery and charging technology improvements enable longer runtime and faster charging
  • Connected tools and inventory management through Bluetooth
  • Brushless motors provide more efficiency and power
  • Growing adoption of cordless tools among professionals
  • Increased popularity of DIY projects driving consumer tool sales

 

FAQs

Q1. What are the most popular power tool brands?

Some of the most popular and well-known power tool brands include Milwaukee, Dewalt, Makita, Bosch, Ryobi, Craftsman, Hitachi, and Porter Cable. These companies offer a wide range of power tools for both DIY and professional use.

Q2. Should you buy cordless or corded power tools?

Cordless power tools offer more flexibility and portability since you don’t have to work near an outlet. However, corded tools tend to be more affordable, and powerful, and don’t require charging batteries. Consider your needs and usage to decide which type works best for you.

Q3. How can you properly maintain power tools?

To maintain power tools, keep them clean by regularly brushing debris and using compressed air. Check carbon brushes periodically and replace them when worn. Avoid overloading tools and let them cool if they overheat. Follow all usage and care instructions in tool manuals.

Q4. What does a burning smell from a power tool mean?

A burning smell usually means the tool’s motor is overheating from being overloaded or lacking ventilation. Let the tool run to allow the fan to cool the motor windings while withdrawing it from work. This smell means service may soon be needed.

Q5. Can you repair most defective power tools?

Many defective power tools can be repaired by replacing worn parts like brushes, bearings, triggers, or cords. For tools under warranty, contact the manufacturer’s service center or authorized repair shop. Some tools cannot be economically repaired.

Q6. Where can you buy replacement power tool parts?

Replacement power tool parts can be ordered directly from tool manufacturers either online or by phone. Many third-party power tool parts suppliers also exist online. Local power tool repair shops may also stock common replacement parts.

Q7. Do all power tool brands have warranties?

Most major power tool manufacturers offer warranties to cover defects in materials and workmanship. Warranty lengths vary by brand and tool type but commonly range from 1 to 3 years. Warranties have limitations, so know policies before buying.

Q8. Can you use power tool batteries from different brands interchangeably?

No, you should not use batteries from different power tool brands due to differences in voltages and connector types. Attempting to do so can damage tools and batteries and pose safety hazards unless specially designed adapters are used.

Q9. Where are most power tools manufactured?

While some brands still produce certain tools domestically, most power tools today are manufactured globally in places like China, Mexico, Europe, and the United States. Quality can vary significantly between factories.

Q10. How often does Milwaukee release new power tools?

Milwaukee continually innovates and releases new power tools and accessories to meet evolving industry demands. New product launch frequency varies, but Milwaukee typically introduces dozens of new tools and innovations annually.

 

Conclusion

The power tools market offers strong growth prospects as industries seek to improve productivity and consumers take on more home improvement projects.

With fierce competition, companies are innovating with connected technologies, improved lithium-ion batteries, and brushless motors.

As the market expands globally, buyers have more choices when selecting quality power tools.

Leave A Reply

Your email address will not be published.