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

Precast Concrete Market Is Estimated To Witness High Growth Owing To Increasing Demand for Sustainable Construction Practices

Image
Precast Concrete Market Market Overview: The Precast Concrete Market is witnessing significant growth due to the increasing demand for sustainable construction practices. Precast concrete products are prefabricated in controlled factory conditions, offering several advantages such as improved quality control, reduced construction time, and increased durability. These products are widely used in residential, commercial, and infrastructure projects due to their ability to enhance construction efficiency and productivity. With the growing need for energy-efficient and environmentally friendly buildings, the demand for precast concrete products is expected to rise. Market Key Trends: One key trend in the Precast Concrete Market is the adoption of advanced technology in manufacturing processes. The use of computer-aided design (CAD) and building information modeling (BIM) is enabling manufacturers to produce complex and customized precast concrete products with high precision. Additional
Read more

Relapsed Or Refractory Diffuse Large B Cell Lymphoma Market Growth driven by increased adoption of targeted therapies

Image
Relapsed Or Refractory Diffuse Large B Cell Lymphoma Market Market Overview: Relapsed Or Refractory Diffuse Large B Cell Lymphoma (R/R DLBCL) is an aggressive fast-growing type of non-Hodgkin's lymphoma (NHL) cancer that generally affects immune system cells called B cells. DLBCL can occur at any age but is most common in older adults. Novel targeted therapies like chimeric antigen receptor (CAR) T-cell therapies, bispecific antibodies and antibody-drug conjugates are revolutionizing the treatment of R/R DLBCL. These advanced therapies are offering new hope to patients by increasing survival rates. Market key trends: One of the key trends in the R/R DLBCL market is the increasing adoption of CAR T-cell therapies. CAR T-cell therapy is an innovative new approach to treating R/R DLBCL through the use of genetically engineered T-cells. Drugs like Kymriah and Yescarta have proven highly effective in treating certain patients with relapsed or refractory forms of large B-cell lymphoma.
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