PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1886970
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1886970
The global material removal tools market continues to experience steady growth, supported by expanding industrial applications, technological advancements, and rising demand for efficient power tools. According to the latest assessment, the global material removal tools market size reached USD 7.98 billion in 2024, is expected to increase to USD 8.35 billion in 2025, and is forecast to reach USD 12.07 billion by 2032, reflecting a stable CAGR of 5.4% during the forecast period. The industry remains highly competitive and innovation-driven, with Asia Pacific commanding a 51.50% market share in 2024, equivalent to USD 4.11 billion, positioning it as the leading regional market.
Market Overview
Material removal tools-including drills, cutters, saws, and grinders-form an essential part of industrial operations across manufacturing, automotive, aerospace, and construction sectors. These tools are manufactured using various materials such as high-speed steel (HSS), ceramics, diamond composites, and other advanced abrasives. The market landscape is shaped by intense competition from global leaders such as Bosch, Makita, Hilti, Koki Holdings, Milwaukee, and Stanley Black & Decker, along with rising regional manufacturers.
The market suffered short-term disruptions during the COVID-19 pandemic due to factory closures, transport restrictions, and supply chain breakdowns. However, with global economic recovery and the rapid integration of Industry 4.0-AI, IoT, automation, and robotics-the material removal tools market has regained momentum, supported by rising demand for precision machining, lightweight materials, and automated manufacturing processes.
Impact of Reciprocal Tariffs
The effect of reciprocal tariffs continues to reshape global supply chains. Trade wars and rising import duties have created volatility in the power tool and equipment market. Manufacturers face challenges such as reduced overseas demand, higher production costs, and disrupted sourcing of raw materials. For example, in April 2025, Stanley Black & Decker announced price hikes and supply-chain restructuring in response to new U.S. tariffs. In the short term, tariffs delay shipments and raise operational costs, while long-term impacts include pricing pressure on end users and the need for more resilient, diversified supply chains.
Market Dynamics
Trends: Growing Demand for Ergonomic and Efficient Tools
Technological upgrades and ergonomic product design are key trends shaping the material removal tools market. Users increasingly prefer cordless and battery-powered tools that deliver high mobility, reduced vibration, and improved productivity. For instance, in November 2024, Festool introduced a cordless electric sander with integrated LED lighting for improved surface inspection, reflecting the shift toward smart, high-performance tools.
Drivers: Advancements in Cutting and Abrasive Technology
Advances in abrasive materials, such as diamond tools and improved HSS compositions, significantly enhance cutting efficiency and durability. Leading brands are expanding their product portfolios with high-performance accessories to meet growing industrial processing needs. Makita's May 2024 launch of ultra-thin kerf diamond blades optimized for cordless tools highlights this trend.
Restraints: Supply Chain Challenges and Competition from CNC Systems
Global trade tensions and material shortages remain major restraints, as supply chain instability increases costs and reduces availability of critical components. Additionally, the rising adoption of CNC machining technology reduces reliance on traditional manual removal tools, creating competitive pressure in certain segments.
Opportunities: Advancements in Tool Handling and High-Speed Steel Innovation
Improved ergonomics, lighter materials, enhanced battery technology, and advanced High-Speed Steel (HSS) formulations are expanding opportunities, especially across professional applications. Makita's March 2024 launch of advanced jigsaws with improved user handling exemplifies innovation driving new demand.
Segmental Insights
By Tool Type
By Material Type
By Industry
Conclusion
With strong demand from manufacturing and automotive sectors, rapid expansion of cordless technologies, and ongoing innovation in tool materials, the material removal tools market is set to rise steadily from USD 7.98 billion in 2024 to USD 12.07 billion by 2032, supported by significant growth across Asia Pacific and emerging global markets.
Segmentation By Tool Type
By Material Type
By Industry
By Geography