India Power Tools Market Synopsis
India Power Tools Market is anticipated to witness notable growth during the forecast period. A rapid shift in consumer preference from hand tools to power tools on account of several factors such as better durability, precision, performance, and convenience has resulted in significant demand for power tools in recent years. The majority of the demand for power tools in the Indian market could be witnessed in verticals such as construction, industrial, and transportation. Although international brands namely Bosch, Stanley, and Makita emerged as the key players in the market, the Chinese power tools are being highly preferred by price-sensitive consumers across the small-scale industries, residential sector, and DIY consumer segment. The market has seen a halt owing to the massive outbreak of COVID-19 which resulted in nationwide lockdowns to combat the spread of the virus and has led to a decline in the overall market growth.
According to 6Wresearch, India Power Tools Market size is projected to grow at CAGR of 8.4% during 2020-2026. Power tools market size in India is projected to gain traction in the forthcoming years on the back of the increasing product acceptance across all major verticals including construction and residential sectors. Additionally, an increase in the number of middle-class families and youth population has accelerated the adoption of electric vehicles in the country and is likely to widen the product demand during the maintenance of automobiles. In line with this, the power tools speed up the repetitive process of tightening and loosening nuts and bolts is estimated to leave a positive impact on the market demand and would benefit the growth of the India power tools market in the upcoming six years.
Key Attractiveness of the Report:
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2016 to 2019.
- Major Upcoming Developments and Projects
- Base Year: 2019
- Key Performance Indicators Impacting the Market.
- Forecast Data until 2026.
Key Highlights of the Report:
- India Power Tools Market Overview
- India Power Tools Market Outlook
- India Power Tools Market Opportunity Assessment
- India Power Tools Market Overview by Competitive Benchmarking
- India Power Tools Market Forecast
- Porter’s Five Forces Analysis
- Historical data of India Power Tools Market Revenues for the Period 2016-2019
- India Power Tools Market Size and India Power Tools Market Forecast of Revenues, until 2026
- Historical data and Forecast of India Power Tools Market Revenues, By Tool Types, for the Period 2016-2026
- Historical data and Forecast of India Power Tools Market Revenues, By Technology, for the Period 2016-2026
- Market Drivers and Restraints
- Company Profiles
- Key Strategic Recommendations
- India Power Tools Market Trends
- Industry Life Cycle and Value Chain Analysis & Ecosystem
- India Power Tools Market Share, By Companies
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