Lithium-ion batteries are primarily used for motive power, especially in new energy vehicles. Against the backdrop of growing new energy vehicle market share, the market demands lithium-ion batteries with longer range, higher safety, lower energy consumption and better environmental protection. This requires the development of batteries with higher energy density, better high-temperature performance, more stable safety and smaller size for electric power.

For mobile phones, power tools and other portable devices, lithium-ion batteries also face strict requirements for small size, high capacity and long life. The positive electrode material is moving toward high nickel and low (no) cobalt. The negative electrode material requires new silicon-carbon negative electrodes, tin-based negative electrodes and lithium titanate negative electrodes to replace existing graphite negative electrode material. The electrolyte is also moving toward high voltage, high power and (semi) solid state. The membrane is gradually increasing the proportion of thin films and coated films, and developing semi-solid composite membranes.

In 2023, there will have been many breakthroughs in lithium battery technology. It is hoped that lithium battery technology will make major breakthroughs in the next three years. While reducing the cost of lithium battery power tools, improve their versatility, reduce or even eliminate "battery anxiety" and drive up the market share of lithium battery tools.

The global lithium-ion battery powered power tool market is expected to grow from $12.36 billion in 2022 to $21.56 billion in 2029, at a CAGR of 8.06% from 2023 to 2029.

North America accounts for a large share of the lithium-ion battery powered power tool market, with over 38% of global revenue in 2023. The region is characterized by a large number of service providers, especially in the United States. Southeast Asia is expected to have the highest growth rate, by China, with CAGRs of 14.02% and 12.45% respectively over the forecast period.

Key factors driving the market growth include the increasing adoption of cordless power tools in the market, growing demand for fastening tools in industrial environments, and growth in the construction industry in emerging economies are the key factors driving the growth of the power tools market.

The power tool market is gradually shifting from corded power tools to cordless power tools.

Although corded tools still have considerable sales, the shift to cordless tools is a major trend. Rechargeable power tools include a large number of battery-powered tools such as saws, impact drills, impact wrenches, and impact drivers. These tools are ideal for welding, grinding, cutting, metalworking and other applications.

A list of the major global manufacturers of lithium-ion battery powered power tools is provided below.

1.Bosch

When it comes to power tools, the number one brand in the world is undoubtedly Bosch Group from Germany. Bosch power tools was founded in Germany in 1886. As a subordinate of Bosch Group, Bosch is the world's leading manufacturer of power tools. Bosch power tools products mainly include four categories: handheld power tools, stationary power tools, measuring tools and power tool accessories. Its power tool brands include BOSCH Blue, BOSCH Green, BOSCH-T and Skill.

At present, Bosch's lithium tool products are still expanding in variety. Although the quality is very good, the price is still relatively high. It is believed that in the future, with the continuous expansion of the scale of lithium products, the cost and price of lithium products will decrease with the scale effect.

2. Metabo

Metabo Power Tools, founded in Germany in 1924, is a well-known power tool brand specializing in handheld power tools. It is committed to researching, developing and selling high-quality German power tools. As a historic German company focusing on power tools, Metabo Power Tools' headquarters is located in Jötingen, Stuttgart, Germany. It is one of the world's leading manufacturers of industrial power tools.

On March 1, 2016, Metabo was acquired by Hitachi Koki under the Hitachi Group. The Hitachi Group sold Hitachi Koki to KKR's entity HK Holdings Co., Ltd. in March 2017.

After the lithium era of power tools opened up, Metabo developed many high-end lithium products, such as lithium hammer drills and lithium miter saws. However, there is still the problem of high prices.

3.Festool

Festool is a German power tool brand headquartered in Wendlingen, Germany. It has an annual revenue of 340 million euros.

Festool is a subsidiary of TTS Tooltechnic Systems Holdings. Festool is known for its system-based approach to power tools and a focus on dust extraction. The carpentry series, especially the dust extraction system, has revolutionized the concept of power tools.

The company was founded in 1925 by Gottlieb Stoll and Albert Fezer as Fezer & Stoll.In 1927, Festool manufactured the world's first portable electric saw. The company name was shortened to Festo in 1933. Festo founded Festo Tooltechnic in 1993. The power tool division was spun off as an independent company called Festool in 2000.

4.Fein

Founded in 1867, Wilhelm Emil Fein created a company that manufactured precision mechanical and electronic instruments. In 1895, his son Emil Fein invented the first portable electric drill, laying the foundation for high-quality power tools. To this day, Fein continues to manufacture power tools at its production base in Germany. The traditional company located in Schwaben (Swabia) is highly regarded in the industrial and craft sectors worldwide.

In recent years, Fein has been at the forefront of lithium-ion battery technology innovation in the power tool industry. Fein launched its first lithium-ion powered tool in 2005 and has since continued to refine its battery technology and expand its cordless power tool range.

5.KYNKO

Established in 1993, KYNKO is a Chinese power tool manufacturer with 30 years of experience. KYNKO started by producing key components like commutators and armatures, enabling it to master core power tool technologies. In 2002, KYNKO officially launched its first production line and has since focused on professional, industrial-grade power tools.

Today, KYNKO owns two production bases covering 80,000 square meters. It has become a leading power tool maker, exporting to over 80 countries with 1,500 dealers worldwide. Its two factories are located in Huian, known as the stone carving capital of China. KYNKO specializes in professional power tools for stoneworking and granite fabrication, making it one of the best portable stone and granite power tool suppliers in China with a reputation for high quality, both domestically and abroad.

In recent years, KYNKO has the lithium-ion power tool trend, independently developing and producing best-selling products like cordless drills, circular saws, hammers, impact wrenches, etc.

KYNKO's lithium-ion power tools showcase its advanced R&D and production capabilities. Built on its foundations as a components maker and professional power tool leader, KYNKO has leveraged lithium-ion batteries to create high-performance, portable products that boost the productivity and efficiency of stone and construction tradesmen.

6.Beta

BETA Utensili, founded in 1923, is a professional tool manufacturer with advanced technologies and production equipment. BETA Utensili is a global company with extensive logistics and sales networks, including 8 subsidiaries in France, the UK, the Netherlands, Spain, Poland, Belgium, Hungary and China, as well as sales outlets in over 200 countries and regions worldwide.

With a history spanning 100 years, BETA has grown into the BETA Group, headquartered in Sovico, Italy. In 2018, the Group generated €225 million in revenue and employed over 1,000 people across seven companies: BETA Utensili, BM, Abra Beta, Elpa Abrasivi, Helvi, 3D Beta and VGF, operating 10 production facilities in Italy.

In recent years, BETA has focused on developing lithium-ion power tools to meet the needs of professional tradesmen for high-performance, portable equipment. Its lithium-ion range includes drills, impact drivers, circular saws, angle grinders, reciprocating saws, and more. These tools deliver the power to tackle heavy-duty applications while the lithium-ion batteries enable all-day runtimes and fast recharges.

7.Milwaukee

Milwaukee is a brand under the Techtronic Industries Group. As a professional manufacturer of lithium-ion rechargeable power tools, Milwaukee produces durable power tools, accessories and manual tools for professional users around the world. Since its founding in 1924, Milwaukee has been continuously innovating in durability and performance.

Milwaukee's M12 and M18 systems use red lithium battery technology to provide higher battery energy efficiency, extend battery life and slow battery capacity degradation. Judging from the product categories, Milwaukee is actively embracing lithium-ion batteries, showing its ambition to lithium-ize all of its top tools. This is also the future of power tools, with the trend shifting from corded power tools to cordless power tools.

8.Makita

Makita is one of the world's largest manufacturers specializing in professional power tools, headquartered in Anjo City, Aichi Prefecture, Japan. Founded in 1915, Makita is listed on the Tokyo Stock Exchange and Nagoya Stock Exchange in Japan, as well as the NASDAQ securities market in the US, with a registered capital of 24.2 billion yen. The entire group has over 9,000 employees.

The main businesses include manufacturing and sales of power tools, woodworking machinery, pneumatic tools, household and gardening equipment. Makita power tools are renowned worldwide for using the world's most advanced large computers to carry out three-dimensional design, fully automated equipment production and strict quality inspections and safety testing before leaving the factory, based on Makita's experience of producing electric motors, the "heart" of power tools, for over 90 years.