Global Power Tool Accessories Market Size, Share, Trends, Industry Growth by Type (Drill Bits, Screwdriver Bits, Circular Saw Blades, Router Bits, Others), by End-Use (Industrial, Automotive, Construction, Aerospace and Defense, Others), by Region and Forecast to 2030

Report ID: RC92886 | Report Format: PDF + Excel | Starting Price: 3800/- USD |

Key Findings:

  • The market size was valued at over USD 2 billion in 2023 and estimated to register a CAGR of ~ 4.5% by 2030
  • By type, the drill bits segment is expected to hold the largest market share by the end of the analysis period to 2030
  • Geographically, North America is accounted to hold the largest revenue share of over 1/3 market share in 2023

The global power tool accessories market size was valued at over USD 2 billion in 2023 and anticipated to register a substantial CAGR of around 4.5% during the forecast period from 2024 to 2030. The market is driven by several key factors that collectively enhance demand and spur growth. The surge in construction and infrastructure projects worldwide fuels the need for high-performance accessories to support professional and industrial applications. Additionally, the rising popularity of DIY projects and home improvement activities, especially among consumers, has significantly increased the demand for versatile and user-friendly power tool accessories. Technological advancements, such as the development of more durable and efficient accessories using materials like carbide and diamond coatings, cater to a broad range of applications and improve productivity. The ongoing shift towards cordless power tools, supported by innovations in lithium-ion battery technology, has expanded the market for compatible, portable accessories. Moreover, the growth of e-commerce platforms and the convenience of online shopping have made it easier for consumers to access a wide variety of accessories, driving market expansion.

Market Snapshot:

Benchmark Year 2023
Market Size > USD 2 Billion in 2023
Market Growth (CAGR) ~ 4.5% (2024 – 2030)
Largest Market Share North America
Analysis Period 2020-2030
Market Players Robert Bosch GmbH, Stanley Black & Decker Inc., Makita Corporation, Hilti Aktiengesellschaft, and Atlas Copco AB

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Market Trends:

Advancements in Material and Coating Technologies: Power tool accessories are increasingly benefiting from advancements in materials and coatings that enhance their performance and durability. The use of high-performance materials like tungsten carbide, cobalt alloys, and diamond coatings allows accessories to handle tougher materials and more demanding tasks, providing significant improvements in cutting, drilling, and grinding efficiency. These materials are particularly effective in extending the lifespan of accessories by maintaining sharpness and reducing wear under high-stress conditions. Additionally, innovative coatings such as titanium nitride and black oxide are being applied to drill bits, saw blades, and grinding wheels to reduce friction, prevent rust, and improve heat resistance. These coatings not only prolong the life of the accessories but also ensure consistent performance, making them highly valuable in both professional and DIY applications.

Rise of Cordless Tools and Accessories: The power tool industry is experiencing a significant shift towards cordless technology, driven by ongoing innovations in lithium-ion batteries. Cordless tools offer unparalleled convenience, portability, and flexibility, eliminating the constraints of power cords and outlets. This trend is boosting demand for accessories specifically designed for battery-powered tools, such as drill bits, saw blades, and grinding wheels that can operate efficiently with cordless models. Manufacturers are also developing universal battery systems that can be used across a range of tools, promoting the use of compatible and interchangeable accessories. This movement towards cordless solutions is particularly appealing in sectors where mobility and ease of use are critical, such as construction and outdoor projects, and is contributing to the broader adoption of power tools across various markets.

Digital and Smart Tool Integration: The integration of digital and smart technologies into power tool accessories is transforming how these tools are used and managed. Accessories equipped with sensors, Bluetooth connectivity, and other smart features allow users to monitor performance metrics such as wear and tear, usage patterns, and operational efficiency in real-time. This data-driven approach enables predictive maintenance, optimizing tool usage, and preventing unexpected breakdowns, which is particularly beneficial in professional and industrial settings. Furthermore, smart accessories can communicate with connected tools and mobile apps, providing users with detailed insights and analytics to enhance productivity and safety. This trend towards digital integration is part of a broader movement towards smarter, more connected tools that offer enhanced functionality and user experience.

Growth in DIY and Home Improvement Markets: The surge in DIY projects and home improvement activities, especially catalyzed by the COVID-19 pandemic, has significantly increased demand for power tool accessories. With more people undertaking home renovations, repairs, and craft projects, there is a growing market for user-friendly, versatile accessories that cater to both novice and experienced DIYers. Manufacturers are responding by developing products that are easy to use, multifunctional, and adaptable to a variety of tasks. The influence of online tutorials and DIY content on platforms like YouTube has further fueled this interest, making power tools and their accessories more accessible to a wider audience. This trend is not only expanding the market for consumer-grade accessories but also driving innovation in design and functionality to meet the diverse needs of DIY enthusiasts.

Expansion of E-Commerce and Direct Sales Channels: The growing dominance of e-commerce and direct sales channels is reshaping the distribution landscape for power tool accessories. Online platforms offer consumers a vast selection of products, detailed descriptions, customer reviews, and the convenience of home delivery, making it easier than ever to find and purchase the right accessories. This shift towards online shopping is driven by the demand for convenience and the broader availability of digital retail options. Additionally, many manufacturers are embracing direct-to-consumer (D2C) models, selling their products through their own branded online stores. This approach allows companies to maintain greater control over their brand, pricing, and customer interactions, while also reducing reliance on traditional retail intermediaries. The trend towards online and direct sales is providing consumers with more options and better accessibility, driving market growth and competition.

Market Opportunities:

The power tool accessories market presents a wealth of opportunities driven by various dynamic factors. One significant opportunity lies in the increasing adoption of cordless tools, as advancements in battery technology boost demand for portable and compatible accessories. Companies can capitalize on this trend by developing lightweight, efficient accessories tailored for cordless tools. The rise of the DIY culture and home improvement projects also offers a promising avenue, with a growing consumer base seeking versatile, easy-to-use accessories for a variety of tasks. E-commerce and direct-to-consumer sales channels further open up opportunities for market expansion, allowing manufacturers to reach a broader audience and offer personalized purchasing experiences. Sustainability initiatives create additional prospects, as consumers and businesses increasingly prefer eco-friendly products. Innovations in materials and designs that enhance durability, performance, and environmental friendliness can capture the interest of eco-conscious customers.

Market Challenges:

The power tool accessories market faces several challenges that could impact its growth and profitability. One major challenge is the increasing competition and price pressure from both established brands and new entrants, which can lead to reduced margins and market share fragmentation. As manufacturers strive to differentiate their products, they must balance the need for innovation with the cost of developing advanced materials and technologies. Additionally, supply chain disruptions, particularly those seen during global events like the COVID-19 pandemic, can cause significant delays and cost increases in the procurement of raw materials and production processes. The rapid pace of technological advancements also poses a challenge, as companies must continually invest in R&D to stay ahead of the curve while ensuring compatibility and performance across a wide range of tools and applications. Furthermore, the shift towards sustainability adds complexity, as businesses must navigate regulatory requirements and consumer expectations for eco-friendly products and practices.

Market Insights:

The global power tool accessories market is bifurcated into type, end-use, and geography. On the basis of type, the market is bifurcated into drill bits, screwdriver bits, router bits, circular saw blades, and others. The drill bits segment is accounted to hold the largest market share in the benchmark year 2023. The dominance of the drill bit segment in the power tool accessories market is rooted in its fundamental role across various industries and user demographics. Drill bits serve as essential tools for creating holes in a diverse range of materials, including wood, metal, concrete, and plastics, making them indispensable in construction, manufacturing, woodworking, and DIY projects. Their versatility and widespread applicability appeal to both professional contractors and amateur enthusiasts, ensuring a consistent demand for drill bits across diverse user groups. Furthermore, advancements in material technology, such as the use of carbide-tipped and cobalt bits, have significantly enhanced the performance and durability of drill bits, meeting the demands of heavy-duty applications and ensuring long-lasting cutting efficiency.

The drill bit segment’s dominance is further reinforced by its alignment with industry trends and technological advancements. With the growing popularity of cordless power tools, there is an increasing demand for drill bits compatible with these portable devices. Manufacturers continue to innovate and develop new designs and features to address evolving user needs and preferences, introducing products such as multi-material drill bits and impact-rated bits for high-torque applications. This commitment to innovation, coupled with the fundamental role of drill bits in countless applications, solidifies their position as a cornerstone of the power tool accessories market, driving sustained growth and market dominance.

The power tool accessories market research report presents the analysis of each segment from 2020 to 2030 considering 2023 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2024 to 2030.

Historical & Forecast Period

  • 2020-22 – Historical Year
  • 2023 – Base Year
  • 2024-2030 – Forecast Period

Market Segmentation:

By Type:

  • Drill Bits
  • Screwdriver Bits
  • Circular Saw Blades
  • Router Bits
  • Others

By End-Use:

  • Industrial
  • Automotive
  • Construction
  • Aerospace and Defense
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regional Analysis:

Geographically, North America dominated the global power toll accessories market in the benchmark year and expected to hold the largest market share of over 1/3 percent by 2030. The dominance is attributed to several key factors that underscore its leading position in the global landscape. The region benefits from robust industrialization, advanced technological infrastructure, and a mature market ecosystem, providing a conducive environment for the development and adoption of power tool accessories. The presence of leading manufacturers, extensive research and development capabilities, and strong distribution networks contribute to North America’s dominance, ensuring a steady supply of high-quality products and innovative solutions to meet diverse user needs.

Additionally, North America’s strong economic fundamentals, including high levels of disposable income, significant infrastructure investment, and a thriving construction sector, drive substantial demand for power tool accessories. The region’s dynamic construction industry, characterized by residential, commercial, and infrastructure projects, creates a consistent need for drilling, cutting, fastening, and shaping tools, further bolstering the demand for accessories. Moreover, the widespread adoption of DIY culture and home improvement activities among consumers in North America fuels additional demand for power tool accessories, contributing to the region’s dominance in the market landscape. Overall, North America’s combination of technological prowess, industrial strength, and robust market demand solidifies its position as a dominant force in the global power tool accessories market.

Competitive Landscape:

Some of the leading market players operating in the global power tool accessories market are Robert Bosch GmbH, Stanley Black & Decker Inc., Makita Corporation, Hilti Aktiengesellschaft, and Atlas Copco AB. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Recent Developments:

  • In March 2024, Bosch Power Tools and the Chicago Cubs unveiled a fresh sponsorship agreement, solidifying Bosch Power Tools as the official partner for Power Tools, Power Tool Accessories, and Measuring Tools of the club. This collaboration underscores the shared pride in their home state and embodies mutual values centered around hard work, determination, and a steadfast dedication to community support.
  • In January 2023, Hilti North America revealed plans to expand its lineup by introducing over 30 new cordless tools, complementing its existing range of more than 70 Nuron battery-powered tools. Moreover, attendees at the upcoming World of Concrete event in Las Vegas will have the opportunity to get hands-on experience with more than a dozen of these innovative Nuron tools.

Key Companies:

  • Robert Bosch GmbH
  • Stanley Black & Decker Inc.
  • Makita Corporation
  • Hilti Aktiengesellschaft
  • Atlas Copco AB
  • Apex Tool Group LLC (Bain Capital Partners)
  • Husqvarna Group
  • Ingersoll-Rand Plc (Gardner Denver Holdings Inc.)
  • Klein Tools Inc.
  • Koki Holdings Co. Ltd. (KKR & Co. Inc.)

Key Questions Answered by Power Tool Accessories Market Report

  • Global power tool accessories market forecasts from 2024-2030
  • Regional market forecasts from 2024-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2024-2030 covering 15 major countries from the regions as mentioned above
  • Power tool accessories submarket forecasts from 2024-2030 covering the market by type, end-use, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis about the market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level power tool accessories markets from 2024-2030
  • Competitive Landscape and market positioning of top 10 players operating in the market
Table of Contents:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Power Tool Accessories Market Portraiture
2.2. Global Power Tool Accessories Market, by Type, 2023 (USD Mn)
2.3. Global Power Tool Accessories Market, by End-Use, 2023 (USD Mn)
2.4. Global Power Tool Accessories Market, by Geography, 2023 (USD Mn)

 

3. Global Power Tool Accessories Market Analysis


3.1. Power Tool Accessories Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. PESTLE Analysis

 

4. Global Power Tool Accessories Market by Type, 2020 – 2030 (USD Mn)


4.1. Overview
4.2. Drill Bits
4.3. Screwdriver Bits
4.4. Circular Saw Blades
4.5. Router Bits
4.6. Others

 

5. Global Power Tool Accessories Market by End-Use, 2020 – 2030 (USD Mn)


5.1. Overview
5.2. Industrial
5.3. Automotive
5.4. Construction
5.5. Aerospace and Defense
5.6. Others

 

6. North America Power Tool Accessories Market Analysis and Forecast, 2020 – 2030 (USD Mn)


6.1. Overview
6.2. North America Power Tool Accessories Market by Type, (2020-2030 USD Mn)
6.3. North America Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
6.4. North America Power Tool Accessories Market by Country, (2020-2030 USD Mn)
6.4.1. U.S.
6.4.1.1. U.S. Power Tool Accessories Market by Type, (2020-2030 USD Mn)
6.4.1.2. U.S. Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
6.4.2. Canada
6.4.2.1. Canada Power Tool Accessories Market by Type, (2020-2030 USD Mn)
6.4.2.2. Canada Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
6.4.3. Mexico
6.4.3.1. Mexico Power Tool Accessories Market by Type, (2020-2030 USD Mn)
6.4.3.2. Mexico Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)

 

7. Europe Power Tool Accessories Market Analysis and Forecast, 2020 - 2030 (USD Mn)


7.1. Overview
7.2. Europe Power Tool Accessories Market by Type, (2020-2030 USD Mn)
7.3. Europe Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
7.4. Europe Power Tool Accessories Market by Country, (2020-2030 USD Mn)
7.4.1. Germany
7.4.1.1. Germany Power Tool Accessories Market by Type, (2020-2030 USD Mn)
7.4.1.2. Germany Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
7.4.2. U.K.
7.4.2.1. U.K. Power Tool Accessories Market by Type, (2020-2030 USD Mn)
7.4.2.2. U.K. Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
7.4.3. France
7.4.3.1. France Power Tool Accessories Market by Type, (2020-2030 USD Mn)
7.4.3.2. France Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
7.4.4. Spain
7.4.4.1. Spain Power Tool Accessories Market by Type, (2020-2030 USD Mn)
7.4.4.2. Spain Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
7.4.5. Italy
7.4.5.1. Italy Power Tool Accessories Market by Type, (2020-2030 USD Mn)
7.4.5.2. Italy Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
7.4.6. Rest of Europe
7.4.6.1. Rest of Europe Power Tool Accessories Market by Type, (2020-2030 USD Mn)
7.4.6.2. Rest of Europe Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)

 

8. Asia Pacific Power Tool Accessories Market Analysis and Forecast, 2020 - 2030 (USD Mn)


8.1. Overview
8.2. Asia Pacific Power Tool Accessories Market by Type, (2020-2030 USD Mn)
8.3. Asia Pacific Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
8.4. Asia Pacific Power Tool Accessories Market by Country, (2020-2030 USD Mn)
8.4.1. China
8.4.1.1. China Power Tool Accessories Market by Type, (2020-2030 USD Mn)
8.4.1.2. China Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
8.4.2. Japan
8.4.2.1. Japan Power Tool Accessories Market by Type, (2020-2030 USD Mn)
8.4.2.2. Japan Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
8.4.3. India
8.4.3.1. India Power Tool Accessories Market by Type, (2020-2030 USD Mn)
8.4.3.2. India Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
8.4.4. South Korea
8.4.4.1. South Korea Power Tool Accessories Market by Type, (2020-2030 USD Mn)
8.4.4.2. South Korea Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
8.4.5. Rest of Asia Pacific
8.4.5.1. Rest of Asia Pacific Power Tool Accessories Market by Type, (2020-2030 USD Mn)
8.4.5.2. Rest of Asia Pacific Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)

 

9. Latin America (LATAM) Power Tool Accessories Market Analysis and Forecast, 2020 - 2030 (USD Mn)


9.1. Overview
9.2. Latin America Power Tool Accessories Market by Type, (2020-2030 USD Mn)
9.3. Latin America Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
9.4. Latin America Power Tool Accessories Market by Country, (2020-2030 USD Mn)
9.4.1. Brazil
9.4.1.1. Brazil Power Tool Accessories Market by Type, (2020-2030 USD Mn)
9.4.1.2. Brazil Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
9.4.2. Argentina
9.4.2.1. Argentina Power Tool Accessories Market by Type, (2020-2030 USD Mn)
9.4.2.2. Argentina Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
9.4.3. Rest of Latin America
9.4.3.1. Rest of Latin America Power Tool Accessories Market by Type, (2020-2030 USD Mn)
9.4.3.2. Rest of Latin America Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)

 

10. Middle East and Africa Power Tool Accessories Market Analysis and Forecast, 2020 - 2030 (USD Mn)


10.1. Overview
10.2. MEA Power Tool Accessories Market by Type, (2020-2030 USD Mn)
10.3. MEA Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
10.4. Middle East and Africa Power Tool Accessories Market, by Country, (2020-2030 USD Mn)
10.4.1. GCC
10.4.1.1. GCC Power Tool Accessories Market by Type, (2020-2030 USD Mn)
10.4.1.2. GCC Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
10.4.2. South Africa
10.4.2.1. South Africa Power Tool Accessories Market by Type, (2020-2030 USD Mn)
10.4.2.2. South Africa Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)
10.4.3. Rest of MEA
10.4.3.1. Rest of MEA Power Tool Accessories Market by Type, (2020-2030 USD Mn)
10.4.3.2. Rest of MEA Power Tool Accessories Market by End-Use, (2020-2030 USD Mn)

 

11. Competitive Landscape


11.1. Company Market Share Analysis, 2023
11.2. Competitive Dashboard
11.3. Competitive Benchmarking
11.4. Geographic Presence Heatmap Analysis
11.5. Company Evolution Matrix
11.5.1. Star
11.5.2. Pervasive
11.5.3. Emerging Leader
11.5.4. Participant
11.6. Strategic Analysis Heatmap Analysis
11.7. Key Developments and Growth Strategies
11.7.1. Mergers and Acquisitions
11.7.2. New Product Launch
11.7.3. Joint Ventures
11.7.4. Others

 

12. Company Profiles


12.1. Robert Bosch GmbH
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. Stanley Black & Decker Inc.
12.3. Makita Corporation
12.4. Hilti Aktiengesellschaft
12.5. Atlas Copco AB
12.6. Apex Tool Group LLC (Bain Capital Partners)
12.7. Husqvarna Group
12.8. Ingersoll-Rand Plc (Gardner Denver Holdings Inc.)
12.9. Klein Tools Inc.
12.10. Koki Holdings Co. Ltd. (KKR & Co. Inc.)
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