Lithium Battery Circular Saw Market Size, Trends, Share, Growth, and Opportunity Forecast, 2024 - 2031 Global Industry Analysis By Type (Cordless Circular Saws, Brushless Circular Saws, Mini Circular Saws), By Battery Voltage (12V, 18V, 20V, and Others), By Blade Size (7-1/4 Inch Saws, 6-1/2 Inch Saws, and Others), By End-Use (Household and Commercial), ), By Distribution Channel (Online Retail, and Offline Retail), and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Lithium Battery Circular Saw Market Size and Forecast 2024 to 2031

The Global Lithium Battery Circular Saw Market was valued at USD 2,437.2 Million in 2023 and is anticipated to reach a value of USD 3,680.3 Million by 2031 expanding at a CAGR of 5.4% between 2024 and 2031.

Lithium battery circular saw are kind of circular saws, powered by rechargeable lithium-ion batteries, designed for cutting various materials, including wood, metal, and plastic. These saws offer professionals and DIY enthusiasts with the flexibility to work in diverse environments without the constraints of power cords. Based on types, the market is classified into cordless circular saws, brushless circular saws, mini circular saws. These saws offer a convenient and portable alternative to traditional corded circular saws, making them popular for various applications. Lithium battery circular saws are widely used in Construction, woodworking, metalworking, home renovation projects, and DIY projects. The lithium battery circular saw market has experienced significant growth in recent years due to factors such as increasing demand for cordless power tools, rising demand for mobility and convenience, rise in construction and renovation activities, increasing adoption in commercial & industrial applications. Lithium battery circular saws offer convenience, power Efficiency, portability, and versatility.

Lithium Battery Circular Saw Market Major Driving Forces

·         Increasing Demand for Cordless Power Tools: The market is driven by the increasing demand for cordless power tools across various industries. Consumers seek for more convenient and portable power tools, such as lithium battery circular saws.

·         Rising Demand for Mobility and Convenience: The growing demand for mobility and convenience drives growth of lithium battery circular saw market. Cordless circular saws powered with lithium-ion batteries offer portability and flexibility, enable users to work in various environments.

·         Rise in Construction and Renovation Activities: The rapid expansion of construction industry and increasing home renovation projects is a major factor propelling the market growth. Lithium battery circular saws are being used in home renovation and construction projects because they are cordless and can cut through a variety of materials.

·         Increasing Adoption in Commercial & Industrial Applications: The increasing adoption of power tools in commercial and industrial applications are further boosting the demand for lithium battery circular saws. Lithium battery circular saws provide flexibility, efficiency, and convenience in commercial and industrial applications.

Lithium Battery Circular Saw Market Key Opportunities

·         Technological Advancements: Advancements in battery technology, such as solid-state batteries are expected to offer significant opportunities for market growth. Advancements in lithium battery technology has witnessed significant improvements in industry, resulting in batteries that offer higher energy densities, and faster charging capabilities.

·         Focus on Sustainability: With the growing focus on sustainability, there is increasing consumer preference for lithium battery circular saws across various industries. Lithium battery circular saws are sustainable options over gas-powered tools. Sustainability benefits of lithium battery circular saws, include reduced emissions and lower environmental impact, can help to attract environmentally conscious consumers.

·         Expansion into Emerging Markets: There is significant potential for expanding presence into emerging markets. These regions are experiencing growth in construction industry, and home renovation projects, with infrastructure development activities is boosting the demand for lithium battery circular saws.

Lithium Battery Circular Saw Market Key Trends

·         The increasing demand for cordless power tools for convenience and portability across various industries

·         Advancements in battery technology resulting in batteries that offer higher energy densities, and faster charging capabilities

·         The growing focus on sustainability, lithium battery circular saws are seen as a more eco-friendly alternative

·         The growing trend of DIY projects and home improvement activities is further propelling the demand for lithium battery circular saws

·         The increasing adoption of power tools in commercial and industrial application is boosting demand for lithium battery circular saw

·         The rising trend of renewable energy projects and infrastructure development activities is fueling demand for lithium battery circular saws

·         Growing trend toward offering specialized circular saws tailored for specific applications, such as woodworking, and metalworking

Region-wise Market Insights

North America accounted for the largest market share at 37.8% in 2023 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 5.7% between 2024 and 2031.

North America region dominates the global lithium battery circular saw market. This dominance is attributed to the presence of well-established manufacturers, strong construction industry, rising demand for cordless tools, and the increasing adoption of power tools in commercial and industrial applications. Moreover, advancements in lithium battery technology with the rise of smart technology in tools further drives regional market growth. Europe is characterized by increasing demand for cordless power tools and a focus on sustainability. In Asia-Pacific, the market is characterized by the robust manufacturing infrastructure, economic development, urbanization, infrastructure development activities, and increasing industrialization which has created an increasing demand for lithium battery circular saw. The Middle East and Africa has been witnessing a growing demand for lithium battery circular saw driven by infrastructure development and industrialization whereas, in South America, the market is influenced by economic factors, with growing construction activities, and rising interest in DIY projects.

Market Competition Landscape

The global lithium battery circular saw market is highly competitive, with the presence of several key players dominating the market through their advancements. Key players in the lithium battery circular saw market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, product approvals, mergers and acquisitions, partnerships, and collaborations to meet evolving consumer preferences. These major companies are involved in the research, development, manufacturing, and distribution of lithium battery circular saw and other optical components.

Key players in the global lithium battery circular saw market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         TTI, Inc.

·         Stanley Black & Decker, Inc.

·         Robert Bosch GmbH

·         Makita

·         Hilti

·         HIKOKI

·         Jiangsu Dongcheng M&E Tools Co., Ltd

·         Festool

·         CHERVON (China) Trading Co., Ltd.

·         Jiangsu Jinding Electric Co., Ltd.

·         Positec Tool Corporation

·         Total Tools

·         Kimo Tools

·         Ingco Curacao

·         Greenworks Tools

·         Milwaukee Tool