NEWARK, Del, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The India power tools market value is forecast to increase from US$ 686.0 million in 2023 to US$ 1,563.1 million by 2033. Over the assessment period, demand for power tools in India is projected to surge at a CAGR of 8.6%.
The construction segment is expected to dominate the India power tools industry through 2033, likely holding a volume share of 31.5% by 2023. On the other hand, the impact wrench segment is set to thrive at a robust CAGR of 10.7% through 2033.
Due to their effortless and efficient task execution across various sectors, power tools are witnessing tremendous expansion in the Indian industry. Driven by the growing use of automation and robotics, the manufacturing sector, a significant customer, uses power tools for a variety of operations, including drilling and cutting. Power tools are essential to the maintenance, repair, and overhaul (MRO) industry because they speed up repairs, reduce downtime, and maximize maintenance costs.
The construction industry in India, propelled by infrastructure development initiatives, relies heavily on power tools for tasks ranging from drilling to grinding. Government programs like the National Infrastructure Pipeline and Smart Cities Mission, along with metro projects, contribute to the escalating demand.
Gain Valuable Insights from Industry Experts to Shape Your Growth Strategies. Access our Sample Report Now! https://www.futuremarketinsights.com/reports/sample/rep-in-1929
There are many fresh opportunities for power tool use in manufacturing, building, and repair positions within the space industry. This is expected to develop with the entry of private operators. The wood processing and manufacturing industries see power tools as crucial for turning raw materials into refined forms like veneers and lumber, as the demand for round wood develops. This means that complex and efficient solutions are required to fully realize the potential of the raw material.
Key Takeaways from the Report:
- The adoption of power tools in India is projected to thrive at 8.6% CAGR through 2033.
- By tools type, the impact wrench segment is expected to total a valuation of US$ 239.0 million by 2033.
- By application, the construction segment is set to hold an industry share of 31.5% in 2023.
- South India is expected to account for a significant share of about 31.8% in 2033.
- The West India power tools industry value is anticipated to reach US$ 474.7 million by 2033.
- Gujrat is projected to attain a valuation of US$ 205.4 million by 2033.
"India's power tool industry is growing, driven by their efficiency and accuracy across industries. The manufacturing sector leads the demand, fueled by automation needs. From DIY trends to infrastructure development, power tools play an important role. Even in the emerging space sector, they are transforming India's industrial landscape and demanding sophisticated solutions for optimal performance in diverse applications.”- opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape
The India power tools industry is fragmented, with leading players accounting for about 40% to 45% of the share. Key power tools companies in India are investing in continuous research to produce new products and increase their production capacity to meet end-user demand. They are also showing an inclination toward adopting strategies, including acquisitions, partnerships, mergers, and facility expansions to strengthen their footprint.
Key Industry Players
- Kulkarni Power Tools Ltd.
- CUMI
- Ralli Wolf
- Aegon
- Electrex India Ltd.
- Metabo AG
- Techtronic Industries Company Limited
- JK Files & Engineering Limited
- ENDICO POWER TOOLS
- ITW
- Robert Bosch Power Tools GmbH
- Stanley Black & Decker, Inc.
- Atlas Copco AB
- Caterpillar Inc.
- Apex Tool Group
- Koki Holdings Co., Ltd.
- DeWalt, Milwaukee Electric Tool Corporation
- Hilti Corporation
- Makita Corporation
- Panasonic Corporation
- Kyocera Corporation
- Ingersoll Rand, Inc.
Recent Developments in India Power Tools Industry:
In July 2019, Snap-on launched its 14.4-volt cordless In-Line Drill, providing 65 inch-pounds of torque for tight, hard-to-reach applications in manufacturing, aviation, and industrial environments.
In April 2020, Metabo Corporation launched its Power-up metalworking & concrete grinder. Metabo's new professional heavy-duty metalworking grinder line is designed for weld cleaning and removal, pipefitting, metal fabrication, shipbuilding, and beveling. The grinders are also ideal for many applications in the shop, such as cutting bars, rods, and bolts.
Enhance Your Business Now! Acquire Vital Market Insights - Access the Report Now! https://www.futuremarketinsights.com/checkout/1929
More Insights into the India Power Tools Industry Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the India power tools industry, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand India’s industry potential, growth, and scope, the market is segmented based on tool type, technology, application, sales type and region.
India Power Tools Industry Segmentation
By Tools Type:
- Drilling Product
- Fastening Product
- Heat Gun
- Angle Grinder
- Chain Saw
- Orbital Sander
- Jigsaw
- Impact Wrench
- Circular Saw
By Technology:
- Electric
- Corded
- Cordless
- Li-ion Battery
- Lead Acid Battery
- Others (Ni-Cd, Ni-MH)
- Pneumatic
By Application:
- Manufacturing
- Metal Fabrication
- Automotive
- Railways
- Aerospace
- Furniture
- Others
- MRO Services
- Facility Management
- Automotive
- Aerospace
- Other Industrial
- DIY
- Construction
Sales Channel:
- Online
- Offline
By Region:
- North India
- East India
- West India
- South India
Author By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil and gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore wide-ranging Coverage of FMI's Industrial Automation Market Insights Landscape
The global marine hatch covers market is projected to record a robust CAGR of 7.6% between 2023 and 2033, totaling around US$ 327.7 million by the end of 2033.
The India electrical testing services market is expected to reach a valuation of US$ 308.4 million by 2033. with a CAGR of 4.4% from 2023 to 2033.
The global industrial weighing equipment market is projected to reach US$ 2.4 billion by 2033. A CAGR worth 5% is expected for the market during the forecast period.
The worldwide material handling equipment market is expected to record a 4.5% CAGR between 2023 and 2033, reaching a valuation of US$ 6,555.9 million.
The duct fans market is expected to rise to US$ 162,788.1 million by 2033. The sales are expected to record a significant CAGR of 6.0% during the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
