Power tools are hand-held portable machines or apparatus operated by electricity or gas power that are used for various drilling, fastening, material-shaping, sanding, cutting, and material-removal applications. Power tools help complete projects around the home, garden, and automobiles quickly and easily. They are extensively used in applications such as drilling, sawing, routing, sanding, planing, shaping, and grinding. The power tools range includes drills, saws, routers, sanders, planers, grinders, burr tools, and so on.

The global India Power Tool Market is estimated to be valued at US$ 873.49 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The India Power Tool Market is estimated to witness high growth owing to increasing infrastructure projects in the country. Infrastructure is the backbone of a developing nation like India. Continuous investment in infrastructure helps increase connectivity and ensures the overall progress of the country. The rising number of construction activities such as highways, roads, metro lines, airports, ports, railway lines, power projects, and urban infrastructure projects drive the demand for power tools in India. According to Invest India, the infrastructure sector contributes around 8% to the country's GDP. The infrastructure status in the country has improved significantly owing to accelerated investment over the past decade. The government's increased focus on infrastructure is expected to boost the construction activity in the country further, thereby supporting power tool market growth over the forecast period.

SWOT Analysis
Strength: India's growing demand for construction and infrastructure development is driving the power tools market. Power tools offer improved productivity and reduced costs compared to manual tools. The rising adoption of cordless power tools is boosting market growth due to convenience.

Weakness: Availability of cheaper Chinese power tools is a challenge for established brands. Lack of skilled labor further limits the demand. High product and maintenance costs are barriers, especially in rural areas with lower purchasing power.

Opportunity: Government initiatives to boost manufacturing and 'Make in India' present wide opportunities. Rapid urbanization and smart city projects will propel demand. Increasing applications in industrial sectors like automotive also provide scope.

Threats: Fluctuations in raw material prices impact production costs. Slow industrial growth during economic downturns can lower demand. Entrance of new global players increases competition.

Key Takeaways
The Indian Power Tool Market Size is expected to witness high growth driven by infrastructure development plans. The market size for 2023 is projected at US$ 873.49 Bn, indicating a CAGR of 6% during the forecast period of 2023 to 2030.

Regional analysis:
India dominates the South Asia power tools market with the highest demand concentration. The western and southern regions are growing the fastest due to industrialization and expanding construction activity. Major infrastructure projects underway make Maharashtra, Tamil Nadu and Gujarat the key revenue contributors nationally.

Key players:
Key players operating in the India power tool market are BASF SE, Chevron Phillips Chemical Company, LLC, Exxon Mobil Corporation, Inoes Group Ltd, LyondellBasell Industries N.V., Royal Dutch Shell plc, Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation (Sinopec), The Dow Chemical Company, Lonza Group. Leading domestic brands include Stanley Black & Decker and Bosch which have a wide product portfolio.

 

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