The power tool market in India is primarily driven by growth in infrastructure, construction and automotive sectors. Power tools such as drills, saws, grinders, sanders, polishers, nibblers and demolition hammers are extensively used in construction activities including buildings, dams, roads and other civil engineering structures. Furthermore, expansion of manufacturing, mining and agriculture industries in the country has increased the demand for power equipment. Advancement of lightweight and portable power tools along with surge in DIY (Do-It-Yourself) trend among consumers have also contributed to the market growth.
The Global India Power Tool Market is estimated to be valued at US$ 4.2 billion in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 To 2031
Key Takeaways
Key players operating in the India Power Tool market are Bosch Ltd, Stanley Black & Decker, Atlas Copco, Makita Corporation and Techtronic Industries.
India offers immense growth opportunities for power tool manufacturers on the back of favorable government policies and initiatives towards infrastructure development, smart cities mission and housing for all by 2022. Rapid urbanization and growing construction activities are also fueling the demand for power tools.
Major players are focusing on expanding their manufacturing bases and distribution networks in India Power Tool Market Growth to leverage rising product demand from industrial, commercial and individual consumer segments. Several global brands have set up manufacturing facilities through joint ventures and acquisition strategies to gain stronger foothold.
Market Drivers
Infrastructure spending: Government's continued focus on infrastructure development through projects like Bharatmala, Sagarmala and UDAN is driving demand for heavy construction equipment and power tools.
Housing sector boom: Strong growth in real estate and housing sectors on the back of "Housing for All" mission and tax incentives is propelling the power tools market.
Growth of manufacturing sector: Expanding manufacturing activity across industries like automotive, steel, electronics and consumer goods is boosting consumption of fabrication tools.
Market Restrain
High cost of technologically advanced power tools limits their adoption, especially in rural and tier 2/3 cities.
Lack of skilled labor and after-sales services in certain pockets poses challenge to growth of organized players.
Availability of low-cost Chinese substitutes also impacts sales of established brands.
Segment Analysis
The India Power Tool Market Size and Trends is dominated by the cordless power tools segment. Cordless power tools offer more mobility and flexibility compared to corded power tools as they are not tethered to an electric source by a cable. This has increased their popularity among both professional users and households. Within the cordless segment, Drills account for the largest share as they can be used for various applications like drilling, fastening, and assembling. The ease of use and convenience of drills have made them the top selling power tool in India. The second largest sub-segment is saws which include circular saws, jigsaws, reciprocating saws etc. Saws find wide application in woodworking, metal cutting and DIY activities.
Regional Analysis
South India accounts for the biggest share of the power tools market in India currently. The growth in the construction sector across states like Telangana, Karnataka and Tamil Nadu has propelled the demand for power tools in South India. North India is the second largest region, driven by infrastructure development and growth in industries in states like Haryana, Punjab and UP. Western India is witnessing strong gains due to industrialization in Gujarat and urbanization driven construction activities in Mumbai and Pune. East India is emerging as one of the fastest growing regions on account of government focus on development programs and ‘Act East’ policy bringing in new investments.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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