The import of hand-held tools with electric motors, not drills or saws, to the U.S. is set to increase gradually from 2024 through 2028. In 2023, the value of these imports was $64.5 million. Forecasts predict values of $66.085 million for 2024, marking a 2.45% increase from 2023. On average, the following years maintain a consistent growth trend, with a 2.97% increase in 2025, 2.93% in 2026, 2.79% in 2027, and 2.66% in 2028. Over the five-year span, the compound annual growth rate (CAGR) is expected to be approximately 2.76%.
Future trends to watch for include:
- Advancements in technology enhancing tool efficiency.
- Increasing demand driven by construction and DIY markets.
- Potential impact of tariff changes on import prices.
- Environmental regulations influencing product sourcing.
