India power tools market is expected to register healthy CAGR of 8.9% in terms of value, and 9.5% in terms of volume over the forecast period (2016–2026). Growth of the power tools market in terms of revenue is attributed to various factors, regarding which FMI offers detailed insights in the report.
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The power tools market in India is expected to register a Y-o-Y growth of 6.7% by end of 2016 and is estimated to reach INR 3,532.8 Crore in terms of revenue. Growing industrialization and widespread availability of a wide range of power tools will continue to drive growth of the India power tools market. The markets in South and North India are estimated to collectively dominate the India market.
Robust development in the industrial sector and growing automotive sales are key factors driving growth of the India power tools market. Increasing consumer confidence index (CCI) in India is projected to play a key role in escalating demand for power tools in the India market. Emergence of a variety of cost-effective, durable and multi-functional power tools is expected to fuel demand in the future. In addition, shifting consumer behavior toward DIY hacks is also expected to boost demand for power tools in India.
Professional power tools will continue to gain traction, and a major shift from nickel-cadmium to lithium-ion powered tools will create new opportunities for power tools manufacturers in the country.
However, increasing import of power tools from China may negatively affect market share of domestic and international players in the India power tools market.
The India power tools market is expected to witness increasing demand for industrial power tools as compared to household power tools. Industrial power tools segment is expected to contribute over 55.8% in terms of revenue to the market; whereas household power tools segment is expected to account for 44.2% in terms of value share by end of 2016.
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Low operational costs and ease-of-use will continue to drive electric power tools segment, which is expected to dominate the India power tools market till 2016 end. Pneumatics and other segments are projected to collectively contribute over 46% in terms of value share to India power tools market in 2016.
The markets in South India and West India represent highest penetration of power tools, owing to the concentration of many industries. South and North India markets are expected to expand significantly in terms of revenue as compared to moderately thriving East India and North India markets.
Key Segments
The subsequent sections analyze the India power tools market based on end-use, mode of operation and region, and present a forecast for the period, 2016–2026. The market is segmented:
By end-use
Industrial Power Tools Household Power Tools
By mode of operation
Electric Pneumatic Others
By country
North India South India East India West India
Major global players in the India power tools market include Atlas Copco AB, Snap-on International, Techtronic Industries Co. Ltd., Danaher Corporation, Actuant Corporation and SKF AB. Key regional players include Stanley Black & Decker, Hitachi Koki Co. Ltd., Makita Corporation, Robert Bosch GmbH and Kulkarni Power Tools.
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Long-term Outlook: India’s power tools market is expected to register a healthy CAGR of 9.5% in terms of volume and 8.9% in terms of value over the forecast period, 2016–2026. Electric power tools market is estimated to account for 56.6% in terms of revenue share by end of 2026.