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Tesla's Cybertruck May Benefit from Potential Global Power Tools Market Boom

by Claribelle Deveza November 29, 2019

Cybertruck-storage-ports-storage-space

Tesla’s Cybertruck could benefit from the ever-growing power tool market when it comes out. It seems that the auto market isn’t the only one that is facing innovative industry disruptors. The power tools market may be going through similar changes as well, and it is predicted to experience a boom within the next 5 years.

The CYBRTRK might just be the perfect vehicle for the next-generation of power tools. Research shows that power tools are adopting the same innovative designs and capabilities that Tesla adopts in its cars, and the developing power tool market could expedite these changes. Coincidentally, the Cybertruck might be the only pickup truck on the market at the time with the ability to maintain such tech-savvy power tools.

Tesla-CYBRTRK
Credit: Tesla

Power tool companies are now focusing on manufacturing wireless devices that are connected to the internet at all times. More companies are switching to lithium-ion batteries in their pursuit of energy-efficient power tools. If this is the case, the Cybertruck is the best truck for someone using battery-run power tools because of its built-in 110V/220V onboard outlets. Tesla’s pickup, like all of its vehicles, is also connected to the internet, making it the perfect match for power tools that are also continuously connected to the net. 

Smaller, ergonomic power tools are also being favored by the companies in the industry. Such a design would probably fit quite snug in the Cybertruck’s storage spaces. 

ARC & Rally recently shared a press release about the growing power tool market, which is currently valued at US$31.8 billion as of 2019. By 2024, the power tool market is expected to be US$41.7 billion, with a CAGR of 5.5 percent. The growth of the market could be attributed to the development and increased demand in other markets, like commercial vehicles, the construction industry, fastening tools in industrial environments, and emerging economies.

A growing power tool market seems to have induced a need for more advanced tools that fit the user of today. More companies are making power tools that are ergonomic, energy-efficient, and are more productive. As such, some innovations Tesla introduced into the auto market, have been adopted in the power tool industry.

Chinese billionaire Don Gao said as much during his Forbes interview. Gao is the founder of Positec, a power tool company. During his interview, Gao mentioned the changes Tesla has made to consumers in any industry. “The Tesla effect is a major trend and has really changed consumers’ perception of things that are battery-driven and their capabilities,” Gao told Forbes.

 Featured Image Credit: Tesla

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