India power tools market is projected to witness a CAGR of 6.90% during the forecast period FY2025-FY2032, growing from USD 2.03 billion in FY2024 to USD 3.46 billion in FY2032. The emerging Asian economy with rapid industrial growth, expanding automotive operations, and modern manufacturing are expected to shape the regional market. The innovative power tools with the integration of artificial intelligence and machine learning are anticipated to add value to the Indian hand and power tools industry. Furthermore, the higher penetration of e-commerce platforms, global power tool giants entering market, and localized technology are anticipated to garner market growth.
Due to its portability, easy to handle, and convenient designs, cordless power tools are gaining traction. Enhanced battery technology with longer performance, demand for power tools especially in the construction sector is driven by significant infrastructure investments being made by the Indian government. It is expected that India will be among the top construction markets around the world leading to the use of various types of power tools. The DIY trend has been hastened by corona virus pandemic, attracting many consumers to take part in home improvements, hence increasing demand for these tools from individual households increasing market growth rate. The integration of power tools with internet of things (IoT) is delivering more precise and data driven results. For instance, in August 2024, Hilti India Pvt. Ltd. launched Data Driven Services (DDS) platform that leverages the Internet of Things (IoT) technology to enhance tool management. The DDS platform offers a virtual customer service center that monitors the battery health of real-time and cordless tools.
Evolution of Power Tool Battery Technology to Fuel Market Growth
India power tools market is experiencing a change according to the likes and dislikes of customers and price fluctuation during purchase. The market is currently being dominated by lithium-ion batteries owing to their heightened performance, but these are being led out by Nickel–metal hydride (NiMH) and Nickel-cadmium (NiCd) which are more cost-effective and environmentally conscious. The popularity of lithium-ion batteries has been attributed to their high energy density, light weight, and low self-discharge rates. Consequently, it translates into longer operational lives and less maintenance than Ni-Cd and Ni-MH batteries, which make them popular among most manufacturers and users alike. However, there is a shift in demand towards Ni-MH and Ni-CD batteries especially for certain applications such as drilling, sanding, and cutting. For instance, some applications are characterized by units based on Ni-MH as they have proven themselves with excellent longevity and provide reasonable prices for their performance, they are suitable for certain types of power tools particularly in those areas that are defined with low-income consumers.
Read More: https://www.marketsandata.com/industry-reports/india-power-tools-market
For instance, in November 2023, Robert Bosch GmbH launched a new ProCare18V+ cordless power tool battery, engineered with tables 21700 Li-ion cells. These cells are deal for all drilling and screw driving applications where a lower weight comes in handy. The batteries are much lighter and up to 39% more compact than comparable batteries of its class.
Major Automotive Applications and EV Adoption to Fuel Market Growth
The automotive manufacturing sector is a primary driver of power tool demand. Tools such as electric drills, impact wrenches, and screwdrivers are essential for assembly lines, where precision and speed are crucial. The increasing production of passenger vehicles, especially due to the rising middle class and demand for personal transportation, is propelling the need for efficient power tools in manufacturing processes. With the rise of electric vehicles in India, there is a growing need for specialized power tools to assemble EV components, such as battery packs and electric drivetrains. The shift towards EVs is expected to further boost the power tools market as manufacturers adapt to new technologies and production methods. There is a noticeable shift towards cordless power tools in the automotive sector due to their portability and ease of use, making them ideal for both manufacturing and repair applications. The automotive and EV manufacturing hubs are adopting new cutting and shredding technology.
For instance, in June 2023, Hyundai Corporation Holdings Co. Ltd., Korea and Sparc Electrex Limited are in negotiations to enter into an exclusive license agreement that will allow the company to use the HYUNDAI trademark for the development, production, and sale of power tools and accessories in India.
Rapid Industrial Growth to Garner New Ventures
The industrial segment holds the dominating portion of the market with increasing vehicle production and demand for assembly and maintenance effective tools. Power tools such as electric drills, impact wrenches, and pneumatic tools are required during the manufacturing processes, particularly in vehicle assemblage and repair services. The aerospace segment in India is thriving on huge government initiatives and rising investments. One such sector includes specialized aircraft assembly and maintenance power tools, for which high precision and reliability are required. The industrial end-use segment, including automotive and aerospace, is driving new ventures for the India power tools market. The Indian technology giants are investing in power tools ventures.
For example, the Software-as-a-Service (SaaS) company, Zoho Corporation stated in April 2024, that it will be entering the tool manufacturing market through its new company, Karuvi. This venture adds a significant amount to Zoho’s current portfolio.
Future Market Scenario (FY2025 – FY2032)
1. Design and functional advancements, higher demand through automotive manufacturing, and industrial expansion are anticipated to fuel market growth.
2. E-commerce platforms and power tool giants expanding their operations in the region country is likely to garner market expansion.
3. New companies investing in power tool ventures and government supportive initiatives such as production-linked incentives (PLIs) are projected to fuel market growth.
Report Scope
“India Power Tools Market Assessment, Opportunities and Forecast, FY2018-FY2032”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of India power tools market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between FY2025 and FY2032. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business models, competitive intelligence, etc.
Contact
Mr. Vivek Gupta
5741 Cleveland street,
Suite 120, VA beach, VA, USA 23462
Tel: +1 (757) 343-3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com/