Power tools show the trend of cordless + lithium electrification, power tools for lithium battery demand rapid growth.  According to statistics, the global installed capacity of lithium battery for power tools in 2020 is 9.93GWh, and China’s installed capacity is 5.96GWh, which is a rapid growth in both the world and China compared with 2019.  It is estimated that the global and Chinese installed capacity will reach 17.76GWh and 10.66GWh respectively by 2025.

The global market for power tools continues to grow.  According to statistics, cordless power tools accounted for 64% of power tools in 2020, and the global market size of cordless power tools reached $18 billion in 2020.  The trend of cordless lithium battery creates conditions for the application and development of lithium battery in the field of power tools, and the growth potential of lithium battery in the market of power tools is great in the future.