The India power tool market is expected to be worth US$ 5672.60 million between 2022 and 2032, growing at an 8.9% CAGR. By 2032, the India power tool market is expected to be worth US$ 13306.41 million.
Power tools are immensely popular due to their multiple applications, practicability, and efficacy in a wide range of disciplines, particularly the amount of time and effort they may save and how portable they are.
India’s power equipment In comparison to residential power tool demand, industrial power tool demand is predicted to rise. In contrast to the industrial power tool segment, which is predicted to account for more than 55.8% of market revenue by the end of 2016, the residential power tool segment is expected to account for 44.2% of market value by then.
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The Indian power tool market is projected to generate INR 3,532.8 crore in revenue by the end of 2016, an increase of 6.7% from the previous year. Because of growing industrialization and widespread access to a wide range of power tools, the power tool market in India will grow. The South and North Indian markets are expected to dominate the Indian market.
Professional power tools will keep growing in popularity, and as tools switch from nickel-cadmium to lithium-ion power, new business opportunities will arise for the nation’s power tool manufacturers.
Low operational costs and ease of use will drive the electric power tools segment, which is expected to dominate the India power tools market until the end of 2016. Pneumatics and other segments are expected to contribute more than 46 percent of the value share to the India power tools market in 2016.
Because of the concentration of a large number of industries, the markets in South and West India have the highest penetration of power tools. South and North India markets are expected to grow significantly in terms of revenue, while East and North India markets are expected to grow moderately.
Category-wise Insights
Based on how they operate, the power tool market is divided into electric, pneumatic, and other types, including hydraulic tools.
Both corded and cordless tools fall under the umbrella category of electric tools. In the upcoming years, it is anticipated to maintain its dominance and grow significantly. By reducing the amount of time and effort spent on various tasks, the global market has also been observed to have altered the workplace cultures of industries like construction, the automotive industry, and others.
Sales of pneumatic tools are expected to decrease as electronic tools take over more market share. Power consumption from common pneumatic tools that use compressed air is too high. According to the US Department of Energy, factories that use compressed air to run their machinery waste energy.
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Competitive Landscape
The report includes market share analysis of the existing international, China-based and domestic players in the market. The report also profiles both global and domestic players in the India power tools market.
Global Players in the market include Atlas Copco AB, Snap-on International, Techtronic Industries Co. Ltd., Danaher Corporation, Actuant Corporation and SKF AB. Regional players in the market include Stanley Black & Decker, Hitachi Koki Co. Ltd., Makita Corporation, Robert Bosch GmbH and Kulkarni Power Tools.
India Power Tool Market by Category
By End-use:
- Industrial Power Tools
- Household Power Tools
By Mode of Operation:
- Electric
- Pneumatic
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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