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Tools can be manually operated or powered by electricity, and are categorized accordingly as power tools and hand tools.  A power tool utilizes a power source and mechanism, other than manual labor that is used for hand tools. Pneumatic power tools, pneumatic-powered tools, air-powered tools or air tools are driven by compressed air, which is supplied through an air compressor. These tools can also be powered by compressed carbon dioxide. Key pneumatic power tools include air impact wrench, pneumatic drill, blow gun, air sander, air ratchet, screwdrivers, jackhammers, air saw angle grinder, etc.

Market Statistics:

The India power tool market is expected to surpass US$ 9,864.1 Mn in terms of value by the end of 2028.

Market Driver

Rising emergence of durable and cost-efficient multi-functional power tools is expected to propel the India tool market growth over the forecast period. As part of product innovation, manufacturers in the market are focusing on providing multipurpose tools solutions to consumers. These tools are very versatile and can be used for a wide range of operations, which makes them relatively cost-effective. For instance, in 2014, Metabo introduced Cordless Combination Hammer that integrates rotary drilling, drilling with hammer and chiseling in a single tool. In 2013, Bosch Power Tools India established a DIY square in Bengaluru, Karnataka, equipped with home, hobby and garden categories focusing on providing customers hands-on experience with power tools and thus promote DIY ethics among customers in the country.

Market Opportunity

Growing online retail sales can present lucrative growth opportunities. Online retail has emerged as one of the promising sector in Indian economy, according to research report by State Bank of India (SBI), e-retailing market in the country witnessed a CAGR of 56% between 2009 and 2014. Furthermore, backed by increasing consumer confidence and availability of diverse products, online sales of power tools, especially portable power tools for household applications is expected to increase significantly in the near future. Online vendors use price promotion as a key strategy to attract masses and shift their focus toward buying online rather than from brick-and-mortar stores. Such strategic initiatives are expected to fuel power tool sales in the country.

India Power Tool Market: Recent Developments

  • In June 2019, Bosch Power Tools debuted a line of cordless power tools, including a wireless screwdriver powered by lithium-ion batteries.
  • In February 2020, Bosch Power Tools India introduced the cordless GLM 150 C Professional, cordless GLL 30 G Professional, and cordless GTC 400 C.
  • In December 2020, Metabo HPT has released an 18-Volt Sub-Compact Drill (DS18DDX), an 18-Volt Sub-Compact Impact Driver (WH18DDX), and a two-piece combo kit as part of their new 18V Sub-Compact power tool range (KC18DDX).

Market Restraint

High maintenance cost is expected to hamper the India power tool market growth over the forecast period. Maintaining power tools is cumbersome and expensive as compared to hand-driven tool. These tools are required to be maintained on a timely basis, in order to prevent frequent breakdowns. Although large-scale companies ensure that regular maintenance operations are taken, SMEs seldom stress on maintenance operations.

India Power Tool Market - Impact of Coronavirus (Covid-19) Pandemic

The India power tool market witnessed a mixed impact of the COVID-19 pandemic outbreak. After the outbreak in China in December 2019, many countries implemented stringent lockdown regulations, rendering temporary suspension in international travel and trade. Manufacturing companies had to shut down their production activities, in order to comply with physical distancing policies. This, in turn, impacted the manufacturing of power tools across the globe. However, with a large population constrained at homes, the demand for power tools increased similarly, especially for DIY activities. Many people choose to use power tools including power drills and impact driver for DIY activities including hanging shelf, paper chain wall hanging, etc. 

To know the latest trends and insights prevalent in this market, click the link below:

Key Takeaways:

  • The India power tool market was valued at US$ 4,748.6 Mn in 2020 and is forecast to reach a value of US$ 9,864.1 Mn by 2028 at a CAGR of 8.9% between 2021 and 2028. This is owing to growth in high demand for power tools in the automotive sector.
  • The Industrial segment was valued US$ 2,649.9 Mn in 2020 and is expected to witness a CAGR of 9.0% over the forecast period. This is owing to increase the demand of power tools in industries such as fastening tools in wind energy industry.

Market Trends

Premium-priced power tools marketed under the professional segment are gaining traction. Professionals are often willing to pay higher for quality tools, since initial investment would pay off over the long run through better performance and longer tool life. Demand for power tools by professionals has increased as a result of improving construction industry in the country, resulting in new housing construction projects, household renovations, public investment and private investments. Furthermore, increasing establishment of new industries across country will also boost power tools demand.  Construction output in the India is expected to gradually improve over next few years backed by robust economic growth, increased government initiatives for infrastructural development and growing producer confidence. These factor in turn act as the major growth drivers for demand of power tools in India.

Active promotion of cordless tools equipped with high-capacity lithium-ion batteries by major players in the market, along with ongoing recovery of the construction sector in the country is resulting in substantial increase in sales of power tools. For instance, 2014, Hitachi Koki registered incremental sales of 5% in its power tools sales after the introduction of cordless tools to its product portfolio. Moreover, cordless products are expected to continue to exhibit superior gains, benefitting from macroeconomic factors and also their performance advantages as compared to plug-in models.

Competitive Section

Key players involved in the India power tool market are SKF AB, Stanley Black & Decker, Inc., Actuant Corporation, Hitachi Koki Co. Ltd., Danaher Corporation, Makita Corporation, Robert Bosch GmbH, Atlas Copco AB, and Kulkarni Power Tools Ltd.

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