India Power Tools Market Research Report, 2028

India Power Tools Market Research Report, 2028

Actual Market Research 30-01-2023 63 Pages Figures : 5 Tables : 14 Region : Asia-Pacific Country : India Category : Manufacturing & Industry Machinery, Parts & Equipment

The Indian economy has expanded dramatically in recent years and is expected to continue growing rapidly in the coming years. The industrial sector currently accounts for nearly a quarter of GDP, and this proportion is expected to rise dramatically by the end of the projection horizon. The booming construction industry is driving the growth of the India power tools market. The development of India's construction and manufacturing sectors has contributed significantly to the country's economic growth. Major industry competitors are producing both corded and cordless tools, providing construction workers with greater flexibility in their daily tasks. When deciding between corded and cordless tools, most construction workers opt for the latter. These tools are expected to be widely adopted by small and medium-sized manufacturing firms due to their adaptability and capacity to provide productive solutions to customers. The industrial power tools market in India is expected to grow faster than the household power tools market. According to the research report, “India Power Tools Market Research Report, 2028”published by Actual Market Research, the market is anticipated to add up to 2.42 Billion market size during the upcoming timeframe. During the forecast period, drilling and fastening tools are expected to account for the largest share of the power tool market by tool type. The market for electric mode of operation tools is expected to grow at the fastest CAGR. Electric tools are plug-and-play, whereas cordless tools are simple to use, efficient, and convenient. End users prefer cordless tools over traditional ones due to their ergonomic benefits. The growing demand for lightweight, portable, flexible, and compact tools, as well as the growing DIY trend among homeowners, is driving the adoption of electric power tools for residential and DIY use. Material removal tools are expected to grow at a faster CAGR during the forecast period. These are end-effectors that are used to remove unwanted material from work pieces in order to achieve the desired shape. Sanders, polishers, buffers, air scalers, and grinders are examples of material removal tools used in industrial and residential applications. These tools are ergonomically designed for the users' comfort and safety. These tools are powered by either electricity or pneumatics. Cordless electric material removal tools are widely used in a variety of industrial applications, driving segment growth. The introduction of long-lasting and cost-effective multi-functional power tools is expected to drive growth in India's tool market over the forecast period. As part of product innovation, manufacturers in the industry are working on providing multifunctional tool solutions to consumers. These tools are extremely versatile and can be used for a variety of tasks, making them relatively inexpensive. In 2014, Metabo, for example, introduced the Cordless Combination Hammer, which combines rotary drilling, hammer drilling, and chiselling in a single tool. Bosch Power Tools India opened a DIY square in Bengaluru, Karnataka, in 2013, complete with home, hobby, and garden categories, with the goal of providing clients with hands-on experience with power tools and promoting DIY principles among customers across the country. Some of the best power tool brands in India include Cheston Power Tools, Bosch Power Tools, Hitachi Power Tools, Makita Power Tools, Dewalt Power Tools, Stanley Power Tools, Black & Decker Power Tools, Skil Power Tools, and many more. The growing popularity of do-it-yourself projects can present lucrative growth opportunities. Most household consumers are concerned about the scarcity of skilled labour and the high costs associated with hiring professionals for basic services in major cities across the country for emergency household repair and maintenance. These emerging issues are focusing consumers' attention on the concept of 'Do-it-yourself,' or DIY. With rising disposable personal income and consumer confidence, the cordless and portable power tool segments in India have significant growth potential. Considered in this report • Geography: India • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • India Power Tools market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Tools Type: • Drilling and Fastening Tools • Demolition Tools • Sawing and Cutting Tools • Material Removal Tools • Routing Tools • Others By Mode of Operation: • Electric • Pneumatic • Others (Hydraulic) By Application Type: • Industrial • Residential The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Power Tools industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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