This growth can be credited to the growing adoption of cordless power tools, the growing requirement for fastening tools in the manufacturing sector, and the thriving construction sector in emerging countries.

The cordless power tools industry outlook is encouraging, as both the manufacturing capacity and demand are projected to surge in the coming future. The increasing automotive sales, quick urbanization, and growing count of government steps for infrastructure growth have generated opportunities for key players to spend in developing regions and gain income from them.

Fastening and Drilling's tools are highly demanded in a range of industries, such as manufacturing and construction. Such tools are also used in DIY commercial and residential projects. Thus, in the coming few years, the category is projected to hold above 24% revenue share.

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In 2021, North America held a considerable market share, of more than 28%. The cordless power tools industry demand is being boosted by the continent's mounting infrastructure and industrial sectors and the existence of key companies. Moreover, the lack of low-cost labor boosts the acceptance of the DIY ideology, which encourages regional market development.

Hence, the growing adoption of cordless power tools, the growing requirement for fastening tools in the manufacturing sector, and the thriving construction sector in emerging countries are major factors driving the cordless power tools industry.