India Power Tool Market

The India Power Tool Market: Witnessing High Growth in the Construction Segment

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The Indian Power Tool market is estimated to be valued at US$ 802.1 Mn in 2022 and is expected to exhibit a CAGR of 8.9% over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:
The Indian power tool market is witnessing significant growth due to the rapid expansion of the construction industry in the country. The increasing infrastructure development, urbanization, and industrialization projects are driving the demand for power tools in India. Moreover, the government’s initiatives such as “Make in India” and “Smart Cities Mission” have also played a crucial role in promoting the growth of the power tool market. However, the market faces challenges such as the high cost of power tools and the availability of cheap alternatives.

B) Market Key Trends:
One key trend observed in the Indian power tool market is the increasing adoption of cordless power tools. Cordless power tools provide flexibility and convenience to users, allowing them to work without the constraints of cords and power outlets. They are portable and can be used in remote areas where accessing power sources may be difficult. For example, construction workers can easily carry cordless drill machines to different locations without the hassle of connecting cords. This trend is driven by advancements in battery technology, which now offer longer runtime and faster charging capabilities.

C) Segment Analysis:
The Indian power tool market is segmented based on the construction segment, which dominates the market. Within this segment, the drilling machines sub-segment holds the largest market share. Drilling machines are widely used in various construction activities such as drilling holes, fixing structures, and installing electrical fittings. They are essential tools for construction workers, carpenters, electricians, and plumbers. The dominance of the drilling machines sub-segment can be attributed to the increasing construction projects in both residential and commercial sectors in India.

D) Key Takeaways:
Market size: The India Power Tool Market Growth is expected to witness high growth, exhibiting a CAGR of 8.9% over the forecast period. This growth is fueled by the increasing demand for power tools in the construction industry. The construction sector is booming in India due to government initiatives and infrastructure development projects.

Regional analysis: The fastest-growing and dominating region in the Indian power tool market is North India. This region has witnessed significant urbanization and industrialization, leading to a surge in construction activities. Major cities such as Delhi, Gurgaon, and Noida are experiencing rapid development, creating a strong demand for power tools.

Key players: Key players operating in the Indian power tool market include Apex Tool Group LLC, Atlas Copco AB, Emerson Electric Co., Techtronic Industries, Hilti Corporation, Stanley Black & Decker, Ingersoll-Rand plc, Robert Bosch, Koki Holdings Co., Ltd., and Makita Corporation. These players are focusing on product innovations, collaborations, and strategic partnerships to stay competitive in the market.

Primarily driven by the construction segment. The increasing adoption of cordless power tools and the dominance of the drilling machines sub-segment contribute to the market’s success. With the government’s emphasis on infrastructure development, the demand for power tools is expected to continue rising in the coming years.