Emerging technologies such as lithium-ion batteries, solid-state batteries, and graphene batteries offer higher energy density and faster charging times. Long-standing and high-power batteries are needed for power tools to generate instant power. The innovation in battery technology enables the development of more powerful, efficient, and sustainable cordless tools. This helps manufacturers to offer a wider variety of cordless tools, including saws, drills, and impact drivers.

The growth of this market is attributed to the advancement of battery technology, increasing activities in the construction industry, and increasing use of power tools in the automotive sector. Moreover, the increasing integration of IoT and sensor technology to offer smart and connected power tools and the growing demand for power tools for residential use are expected to offer growth opportunities for the players operating in this market.