Increasing implementation of cordless power tools and high demand for power tools in the construction industry are key factors driving market revenue growth.

The global power tools market was valued at US$31.816 billion in 2018 and is projected to expand at a CAGR of 4.01% over the forecast period to reach US$40.292 billion by 2024. Rising global construction and infrastructure activities, steady growth in automotive sector and growing demand for home improved products are the key factors that are driving the growth of power tools market.

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