Economy Grade:
Economy grade cordless tools are built focusing on low cost more than anything else. More often than not, these tools incorporate older technology as well as cheaply built components. While these can be purchased inexpensively, tool life, build quality, and power output are often subpar. These sacrifices are made in the name of bringing a low cost, functional cordless tool to the market that almost anyone can afford.
Consumer Grade:
One step up from economy grade, consumer grade cordless tools are a compromise between economy grade and commercial grade. Usually incoporating modern technology, consumer grade tools are built to hold up to normal use in an average household. These tools may appear as well built as commercial grade tools, but may be short-lived if exposed to the heavy usage of a commercial jobsite. The value that this level of performance brings makes it a popular choice.
Contractor Grade:
A little more expensive than consumer grade, contractor grade cordless tools, like the name implies, are built with the intention of using them commercially by contractors on construction job sites. These tools can be purchased through authorized distributors, including big box retailers as well as contractor stores. Built using high quality, heavy duty components, these tools are made to withstand harsh conditions and continuous usage, often coming with warranties as long as 5 years.