India power tools market is anticipated to register healthy CAGR of 8.9% in terms of value, and 9.5% in terms of volume over the forecast period (2016–2026).
The India power tools Industry is expected to witness increasing demand for industrial power tools as compared to household power tools. Industrial power tools segment is anticipated to contribute over 55.8% in terms of revenue to the market; whereas household power tools segment is expected to account for 44.2% in terms of value share by end of 2016.
The power tools market in India is expected to grow by 6.7 percent year on year by the end of 2016, reaching INR 3,532.8 crore in revenue. Growing industrialization and widespread availability of a diverse range of power tools will drive the India power tools market forward. The markets in South and North India are expected to dominate the Indian market.
Professional power tools will continue to gain traction, and the transition from nickel-cadmium to lithium-ion powered tools will open up new opportunities for the country’s power tool manufacturers.However, rising Chinese imports of power tools may have a negative impact on the market share of domestic and international players in India’s power tools market.
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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.
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.
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Long-term Outlook:
India 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. Electric power tools market is estimated to account for 56.6% in terms of revenue share by end of 2026.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Aug 25, 2022
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