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DUBLIN–(BUSINESS WIRE)–The “United States Power Tools 2022” report has been added to ResearchAndMarkets.com’s offering.

US demand for power tools is expected to decline less than 1.0% per year from a high 2021 base to $11.2 billion in 2026. Sales of power tools to both consumers and professionals surged in 2020 and 2021 as home construction and remodeling projects – both DIY and large professional installations – spiked unexpectedly during the pandemic, causing prices to rise and further boosting market value.

Though the market will begin to steady in 2022, elevated levels of demand will be sustained by the following factors: Product development will encourage new users to adopt power tools and some current consumer and professional users to upgrade their existing tools. Users will continue to shift from plug-in electricity to higher-cost cordless electric power tools. Professional market drivers, such as building construction and manufacturing activity, will remain strong overall, despite economic uncertainty.

Cordless Electric Power Tools Increase Market Share as Performance & Innovations Improve

While cordless electric tools are relatively established, they continue to increase their share of the market, boosted by improvements to these tools that allow them to be more user-friendly, more functional, and better able to complete a broad range of tasks. Cordless electric power tools increasingly have more powerful and longer-lasting batteries that can be used interchangeably with a wide range of products both within the power tools market and outside of it, such as with outdoor power equipment. These power tools also increasingly offer brushless motors and smart features – the latter is particularly helpful for professional settings to monitor tool usage and performance. Market share gains for cordless electric power tools are also supported by the increasing number of professionals who are upgrading and transitioning away from competitive technologies and new consumers adopting these products as they become homeowners or seek to upgrade and add to their own range of DIY tools.

The Professional Market Remains a Key Driver of Power Tools Sales Long-Term

Historically, the professional market has been a stalwart for the industry, occupying the largest share of demand in value terms and outperforming the consumer market. While gains during the pandemic temporarily shifted the industry in favor of consumer markets, professional markets are expected to show better prospects through the forecast. Gains in construction and manufacturing will help businesses adopt and upgrade new power tools to help them perform their tasks more efficiently.

Key Topics Covered:

1. Executive Summary

2. COVID-19 Pandemic

3. Overview

4. Factors Impacting Power Tool Demand

5. Electric Power Tools

6. Pneumatic Tools

7. Hydraulic, Powder-Actuated, & Engine-Driven Power Tools

8. Professional Markets

9. Consumer Markets & Insights

10. Distribution Channels

11. Industry Structure

12. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/v73ujw