Power tool batteries are the devices that supplement various instruments and tools such as circular saws, band saws, hammer drills, impact wrenches, impact drivers, and crimpers. These batteries provide greater working efficiency to the users on account of their easier handling due to mobility. They also mitigate shock hazards and reduce trips. According to a report produced by the National Council on Compensation Insurance (NCCI), these batteries significantly reduced the compensation claims of workers in the last few years.



Get a sample copy of this report:
https://www.psmarketresearch.com/market-analysis/power-tool-batteries-market/report-sample



A key factor fueling the surge in the sales of power tool batteries is the growing usage of various cordless instruments in the construction and automotive industries and the surging utilization of power tools in residential applications across the world. The construction and automotive industries are increasingly incorporating the use of mobile equipment for enhancing the efficiency of the manufacturing processes and mitigating shock and tripping hazards. Besides this, the usage of power tools is rapidly increasing in residential applications mainly because of the rising labor costs.




Due to the aforementioned factors, the global power tool batteries market is predicted to exhibit rapid expansion in the coming years. Nickel–metal hydride, lithium-ion, and nickel-cadmium are the most commonly used types of power tool batteries throughout the world. Out of these, the utilization of the lithium-ion batteries is presently being observed to be the highest in power tools, primarily due to their longer lifespans on one charge and lesser vulnerability to voltage depression, which is a common occurrence in the nickel-cadmium power tool batteries.


Based on region, the power tool batteries market is categorized into North America, Europe, Latin America (LATAM), Asia-Pacific (APAC), and the Middle East and Africa (MEA). North America holds a significant share, on account of the large manufacturing industry and increasing automotive sale in this region. Additionally, APAC is expected to witness promising growth, as a result of the rising number of construction and infrastructure projects and shift in the manufacturing base of companies from developed economies to developing economies, due to cheap labor.