NEW JERSEY, UNITED STATES, December 6, 2021 /EINPresswire.com/ — Description
New Research Study “India Power Tool Market Market 2021 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook” has been added to Coherent Market insight
The India power tools market is estimated to be valued at US$ 5,209.0 million in 2021 and is expected to exhibit a CAGR of 8.9% over the forecast period (2021-2028).
Tools can be manually operated or powered by electricity, and are categorized accordingly as power tools and hand tools. A power tool utilizes a power source and mechanism, other than manual labor that is used for hand tools. Pneumatic power tools, pneumatic-powered tools, air-powered tools or air tools are driven by compressed air, which is supplied through an air compressor. These tools can also be powered by compressed carbon dioxide. Key pneumatic power tools include air impact wrench, pneumatic drill, blow gun, air sander, air ratchet, screwdrivers, jackhammers, air saw angle grinder, etc.
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The market research on India Power Tool Market Market provides a comprehensive overview of the industry, including definitions, classifications, applications, and industrial chain frameworks. It sheds light on the most important market characteristics as well as current industry developments. The study examines key sectors in depth to determine what drives market growth, such as trends and opportunities that may have a negative or positive impact on the market in the long run. It also emphasises the numerous applications and sectors. The study includes data that corresponds to historical milestones and current trends. Each segment has been thoroughly researched, with each major element such as market development potential, India Power Tool Market market dynamics, market CAGR, and market value considered.
Major Key players in this Market:
Stanley Black & Decker Inc.
Hitachi Koki Co. Ltd.
Robert Bosch GmbH
Atlas Copco AB
Kulkarni Power Tools Ltd.
Drivers & Trends
Rising emergence of durable and cost-efficient multi-functional power tools is expected to propel the India tool market growth over the forecast period. As part of product innovation, manufacturers in the market are focusing on providing multipurpose tools solutions to consumers. These tools are very versatile and can be used for a wide range of operations, which makes them relatively cost-effective. For instance, in 2014, Metabo introduced Cordless Combination Hammer that integrates rotary drilling, drilling with hammer and chiseling in a single tool. In 2013, Bosch Power Tools India established a DIY square in Bengaluru, Karnataka, equipped with home, hobby and garden categories focusing on providing customers hands-on experience with power tools and thus promote DIY ethics among customers in the country.
The India Power Tool Market market is divided into five areas, each with its own development possibilities and current trends: Latin America, North America, Asia Pacific (APAC), Europe, and the Middle East and Africa. The report was created through extensive research and analysis, as well as examination of numerous elements that may influence regional growth, such as each region’s economic, political, environmental, technical, and social condition. It also includes a complete analysis of each region’s recognised manufacturers, production, and revenue, as well as the top influencing elements, critical data, and data segmented both regionally and globally.
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India Power Tool Market: Recent Developments
In June 2019, Bosch Power Tools debuted a line of cordless power tools, including a wireless screwdriver powered by lithium-ion batteries.
In February 2020, Bosch Power Tools India introduced the cordless GLM 150 C Professional, cordless GLL 30 G Professional, and cordless GTC 400 C.
In December 2020, Metabo HPT has released an 18-Volt Sub-Compact Drill (DS18DDX), an 18-Volt Sub-Compact Impact Driver (WH18DDX), and a two-piece combo kit as part of their new 18V Sub-Compact power tool range (KC18DDX).
The India power tool market was valued at US$ 4,748.6 Mn in 2020 and is forecast to reach a value of US$ 9,864.1 Mn by 2028 at a CAGR of 8.9% between 2021 and 2028. This is owing to growth in high demand for power tools in the automotive sector.
The Industrial segment was valued US$ 2,649.9 Mn in 2020 and is expected to witness a CAGR of 9.0% over the forecast period. This is owing to increase the demand of power tools in industries such as fastening tools in wind energy industry.