India Power Tools Market Is Estimated To Witness High Growth Owing To Development of Construction Industry

India power tools Market



Market Overview:

Power tools are motorized equipment including drills, saws, sanders, grinders, routers, and others that facilitate faster and easier completion of tasks related to woodworking, construction, household repair works and other DIY projects. Power tools provide advantages such as enhanced productivity, accuracy, and efficiency over conventional hand tools. Growing construction activities and infrastructure development projects in India are propelling the demand for power tools in the country.

Market key trends:
The construction industry in India has been witnessing significant growth over the past few years led by strong government emphasis on infrastructure development and housing projects. India accounts for over 1.5% of the global construction industry and is emerging as a potential global growth driver. Power tools such as drills, saws, grinders find widespread adoption on construction sites for activities such as cutting, grinding, fastening and others. Hence, strong growth outlook of the construction sector is expected to boost the demand for India Power Tools Market Share in India during the forecast period.

Porter's Analysis

Threat of new entrants: Low capital requirements and availability of skilled labor allows new players to enter the market easily. However, established brands have strong brand recognition and distribution networks.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and established suppliers.

Bargaining power of suppliers: Established global suppliers have significant influence over pricing and supply. Suppliers maintain long term relationships with buyers.

Threat of new substitutes: Threat from substitutes is moderate as alternate tools require significant investments and adoption is slow.

Competitive rivalry: Intense competition due to presence of global and local established players.

SWOT Analysis

Strengths: Large product portfolio, widespread distribution network, strong brand recognition of major players.

Weaknesses: Rising labor and raw material costs, heavy reliance on few dominant players.

Opportunities: Growth in infrastructure and construction industries, rising adoption of cordless power tools.

Threats: Intense price wars, threat from cheap Chinese imports.

Key Takeaways

The global India power tools market is expected to witness high growth, exhibiting CAGR of 8.9% over the forecast period, due to increasing investments in infrastructure and residential construction projects. The market size for India power tools stood at US$ 802.1 Mn in 2022.

Regionally, southern India dominates the market currently owing to rapid industrialization and urbanization. States such as Karnataka, Tamil Nadu and Telangana are major consumer markets. Western India is also expected to fastest growing region during the forecast period.

Key players operating in the India power tools market are Apex Tool Group LLC, Atlas Copco AB, Emerson Electric, Co Techtronic Industries, Hilti Corporation, Stanley Black & Decker, Ingersoll-Rand plc, Robert Bosch, Koki Holdings Co., Ltd., and Makita Corporation. Global brands such as Bosch and Makita have strong foothold while Techtronic Industries is rapidly expanding its market share.

Read More:

https://www.dailyprbulletin.com/india-power-tools-market-driven-by-growth-in-construction-sector/

Comments

Post a Comment

Popular posts from this blog

The Global Electric Powertrain Market Poised for Growth Driven by Sustainable Transportation

Image
  Electric Powertrain Market The global electric powertrain market is seeing rapid adoption as consumers seek more environmentally friendly transportation options. Electric powertrains offer much lower operating costs than internal combustion engines while also being more energy efficient with fewer moving parts. Battery electric vehicles and hybrids containing electric motors and batteries are able to deliver torque instantly for smooth acceleration and regenerative braking that captures kinetic energy to charge the batteries while slowing down. Automakers are developing advanced powertrain technologies that combine smaller, lighter electric motors with improved batteries capable of longer ranges between charges. The global Electric Powertrain Market is estimated to be valued at US$ 94.12 Mn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the majo
Read more

The Bladder Liners Market Is Estimated To Witness High Growth Owing To Rising Prevalence Of Urinary Incontinence

Image
  Bladder Liners Market Market Overview: Benzodiazepines are a class of psychoactive drugs belonging to the benzodiazepine family. These drugs are prescribed for various medical conditions such as anxiety disorders, panic disorders, insomnia, seizures, alcohol withdrawal syndrome, muscle spasms, and as an anesthesia aid. Some common examples of benzodiazepines include alprazolam, clonazepam, diazepam, and lorazepam. These drugs work by increasing the action of gamma-aminobutyric acid (GABA), a major inhibitory neurotransmitter in the central nervous system. Due to their calming properties, they are widely used to treat insomnia, anxiety, panic attacks, agitation, seizures, muscle spasms, and alcohol withdrawal. Market Dynamics: The Benzodiazepine Drugs Market is primarily driven by the rising prevalence of anxiety disorders worldwide. As per Anxiety and Depression Association of America, anxiety disorders are the most common mental illness in the U.S., affecting nearly 40 million adul
Read more

Poultry Market is Expected to be Flourished by Growing Demand for Protein-Rich Food

Image
Poultry Market The poultry market comprises farming of domesticated birds such as chickens, ducks, turkeys, and geese, primarily for their meat and eggs. Poultry meat is one of the most consumed meats globally owing to its high protein content. Chicken is the most commonly produced meat worldwide, with over 95 million tons produced annually. Poultry farming provides affordable animal protein to consumers while generating income and employment for farmers and allied industries. The global poultry industry includes large integrated production facilities, small commercial farms, and backyard flock operations. Technological advancements have increased efficiency in breeding, hatching, feeding, housing, and disease control. The global poultry market is estimated to be valued at US$ 15.88 billion in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Dynamics: One of the key driv
Read more