By the end of 2032, the Indian power tool market is projected to expand year over year by 8.9% and generate revenue of INR 3,532.8 Crore. The Indian power tool market will continue to expand as a result of rising industrialization and widespread access to a wide variety of power tools. According to estimates, the marketplaces in South and North India make up the majority of the Indian market.
Over the forecast period (2016-2026), the Indian power tool market is anticipated to grow at a healthy CAGR of 8.9% in terms of value and 9.5% in terms of volume. Sales growth in the strength equipment market is related to a number of variables, on which FMI provides further insights inside the study.
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Robust development in the industrial sector and growing automotive sales are key factors driving the growth of the Indian power tools market. Moreover, increasing consumer confidence index (CCI) in India is projected to play a key role in escalating demand for power tools in the Indian market. The emergence of a variety of cost-effective, durable and multi-functional power tools is anticipated to fuel demand in future. In addition, shifting consumer behaviour toward DIY hacks is also expected to boost demand for power tools in India.
Professional power tools will continue to gain traction, and a major shift from nickel-cadmium to lithium-ion powered tools will create new opportunities for power tools manufacturers in the country.
However, increasing the import of power tools from China may negatively impact the market share of domestic and international players in the Indian power tools market.
The Indian power tools market is expected to witness increasing demand for industrial power tools as compared to household power tools. The industrial power tools segment is anticipated to contribute over 55.8% in terms of revenue to the market; whereas the household power tools segment is expected to account for 44.2% in terms of value share by end of 2016.
Low operational costs and ease of use will continue to drive the electric power tools segment, which is anticipated to dominate the Indian power tools market by 2016 end. Pneumatics and others segments are projected to collectively contribute over 46% in terms of value share to India’s power tools market in 2016.
The markets in South India and West India represent the highest penetration of power tools, owing to the concentration of a large number of industries. South and North India markets are expected to expand significantly in terms of revenue as compared to moderately thriving East India and North India markets.
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Competitive Landscape
The report includes a 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 Indian 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.
Long-term Outlook: Indian power tools market is anticipated to register a healthy CAGR of 9.5% in terms of volume and 8.9% in terms of value over the forecast period, 2016–2026. The electric power tools market is estimated to account for 56.6% in terms of the revenue share by end of 2026.
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
- Middle East and Africa (MEA)
- Europe
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