India Power Tool Market Accelerating With A CAGR Of 8.9% By 2022-2032 | Says FMI

The global India power tool market is expected to reach a market valuation of USD 5672.60 Mn by 2022, accelerating with a CAGR of 8.9% by 2022-2032. The India power tool market is expected to reach a valuation of US$ 13306.41 Mn by 2032.

Power tools are in high demand due to their wide range of applications, practicality, and effectiveness in a number of fields, and in particular due to the time and effort they save and the portability they provide.

The power tools in India Compared to household power tools, the demand for industrial power tools is anticipated to rise in the industrial sector. By the end of 2016, the household power tool segment is expected to represent 44.2% of the market’s value, compared to the industrial power tool segment’s projected revenue contribution of over 55.8%.

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The Indian power tool market is projected to generate INR 3,532.8 crore in revenue by the end of 2016, an increase of 6.7% from the previous year. Because of growing industrialization and widespread access to a wide range of power tools, the power tool market in India will grow. The South and North Indian markets are expected to dominate the Indian market.

Professional power tools will keep growing in popularity, and as tools switch from nickel-cadmium to lithium-ion power, new business opportunities will arise for the nation’s power tool manufacturers.

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.

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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.

India Power Tool Market by Category

By End-use:

  • Industrial Power Tools
  • Household Power Tools

By Mode of Operation:

  • Electric
  • Pneumatic
  • Others