The global India Power Tool Market Growth Accelerated by Infrastructural Projects

Power tools find widespread demand in various infrastructural projects such as construction, renovation, and maintenance activities. Equipment such as drills, saws, sanders and grinders help complete projects efficiently. Moreover, cordless power tools are gaining popularity as they provide portable power without the hassles of cords. The growing infrastructure industry in India is stimulating demand for power tools to efficiently construct roads, highways, dams, buildings and more.

The global India Power Tool Market is estimated to be valued at US$ 873.49 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Demand for cordless power tools is surging in the India power tool market driven by their convenience of use. Cordless tools eliminate the hassle of power cords while providing portable power solutions. Moreover, advancing battery technologies are increasing the runtime of cordless tools, making them suitable for medium-duty applications as well. Major players are focusing on developing cordless power tools with advanced lithium-ion batteries offering high capacity and longer life. For instance, Milwaukee Electric Tool Corporation launched M18 FUEL batteries featuring dual chemistry technologies providing 50% more runtime over standard lithium-ion batteries. Such developments are expected to further boost the popularity of cordless power tools.

Segment Analysis
The India power tool market is dominated by corded electric tools, which accounted for over 65% of the market share in 2023. This is primarily due to their higher power output and suitability for heavy-duty applications involving frequent and intensive use. Cordless power tools are witnessing increasing demand and will dominatethe future growth of this market, driven by advantages such as mobility, flexibility of use and ease of handling. Drills remain the most popular product type, followed by circular saws, grinders and impact wrenches. The domestic woodworking and metalworking segments constitute the major end-users of power tools in India.

Key Takeaways
The Global India Power Tool Market Size is expected to witness high growth during the forecast period. In 2023, the Indian market accounted for a share of over 15% in South Asia and is projected to retain its leading position through 2030, driven by robust growth across end-use industries. The global India Power Tool Market is estimated to be valued at US$ 873.49 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023-2031.

Regional analysis: The western region, led by Maharashtra and Gujarat, currently dominates India's power tool market accounting for around 30% share due to strong presence of manufacturing industries. However, southern states including Tamil Nadu, Karnataka and Telangana are emerging as high growth markets, supported by government initiatives to attract investments in manufacturing.

Key players: Key players operating in the India power tool market are BASF SE, Chevron Phillips Chemical Company, LLC, Exxon Mobil Corporation, Ineos Group Ltd, LyondellBasell Industries N.V., Royal Dutch Shell plc. The domestic players including Stanley Black & Decker and Techtronic Industries are focusing on developing cordless power tools with lithium-ion batteries to tap the fast growing segment.

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