市场调查报告书
商品编码
1543607
印度电动工具市场:依工具类型、依应用、依携带性、依最终用户、依销售管道、依地区、机会、预测,2018-2032年India Power Tools Market Assessment, By Tool Type, By Application, By Portability, By End-user, By Sales Channel, By Region, Opportunities and Forecast, FY2018-FY2032 |
预计印度电动工具市场规模将从2024年的20.3亿美元成长到2032年的34.6亿美元,2025-2032年预测期间年复合成长率为6.90%。工业快速成长、汽车业务不断扩大和现代製造业的亚洲新兴经济体预计将塑造该地区市场。整合人工智慧和机器学习的创新电动工具预计将为印度手动和电动工具产业增加价值。此外,电子商务平台的渗透率不断提高、全球电动工具巨头的市场进入以及在地化技术预计将推动市场成长。
无线电动工具因其携带性、易于操作和方便的设计而越来越受欢迎。印度政府大规模的基础设施投资推动了对改进电池技术的需求,特别是建筑领域电动工具的需求。印度预计将成为世界领先的建筑市场之一,使用各种的电动工具。受新冠疫情影响,DIY风潮加速,许多消费者参与家居装修中,增加了私人家庭对电动工具的需求,提高了市场增速。电动工具和物联网(IoT)的整合产生更准确、资料驱动的结果。
由于客户的好恶以及购买时的价格波动,印度电动工具市场改变。由于高性能,目前市场以锂离子电池为主,但更具成本效益且环保的镍氢(NiMH)和镍镉(NiCd)主导市场。锂离子电池的普及得益于其能量密度高、重量轻、自放电率低等优点。因此,与镍镉或镍氢电池相比,它们的使用寿命更长,需要的维护更少,受到许多製造商和用户的欢迎。然而,镍氢和镍镉电池的需求发生了转变,特别是对于钻孔、研磨和切割等某些应用。
本报告调查了印度电动工具市场,并提供了市场概况,以及按工具类型、应用、携带性、最终用户、销售管道、区域趋势和进入市场的公司资讯。
India power tools market is projected to witness a CAGR of 6.90% during the forecast period FY2025-FY2032, growing from USD 2.03 billion in FY2024 to USD 3.46 billion in FY2032. The emerging Asian economy with rapid industrial growth, expanding automotive operations, and modern manufacturing are expected to shape the regional market. The innovative power tools with the integration of artificial intelligence and machine learning are anticipated to add value to the Indian hand and power tools industry. Furthermore, the higher penetration of e-commerce platforms, global power tool giants entering market, and localized technology are anticipated to garner market growth.
Due to its portability, easy to handle, and convenient designs, cordless power tools are gaining traction. Enhanced battery technology with longer performance, demand for power tools especially in the construction sector is driven by significant infrastructure investments being made by the Indian government. It is expected that India will be among the top construction markets around the world leading to the use of various types of power tools. The DIY trend has been hastened by corona virus pandemic, attracting many consumers to take part in home improvements, hence increasing demand for these tools from individual households increasing market growth rate. The integration of power tools with internet of things (IoT) is delivering more precise and data driven results. For instance, in August 2024, Hilti India Pvt. Ltd. launched Data Driven Services (DDS) platform that leverages the Internet of Things (IoT) technology to enhance tool management. The DDS platform offers a virtual customer service center that monitors the battery health of real-time and cordless tools.
Evolution of Power Tool Battery Technology to Fuel Market Growth
India power tools market is experiencing a change according to the likes and dislikes of customers and price fluctuation during purchase. The market is currently being dominated by lithium-ion batteries owing to their heightened performance, but these are being led out by Nickel-metal hydride (NiMH) and Nickel-cadmium (NiCd) which are more cost-effective and environmentally conscious. The popularity of lithium-ion batteries has been attributed to their high energy density, light weight, and low self-discharge rates. Consequently, it translates into longer operational lives and less maintenance than Ni-Cd and Ni-MH batteries, which make them popular among most manufacturers and users alike. However, there is a shift in demand towards Ni-MH and Ni-CD batteries especially for certain applications such as drilling, sanding, and cutting. For instance, some applications are characterized by units based on Ni-MH as they have proven themselves with excellent longevity and provide reasonable prices for their performance, they are suitable for certain types of power tools particularly in those areas that are defined with low-income consumers.
For instance, in November 2023, Robert Bosch GmbH launched a new ProCare18V+ cordless power tool battery, engineered with tables 21700 Li-ion cells. These cells are deal for all drilling and screw driving applications where a lower weight comes in handy. The batteries are much lighter and up to 39% more compact than comparable batteries of its class.
Major Automotive Applications and EV Adoption to Fuel Market Growth
The automotive manufacturing sector is a primary driver of power tool demand. Tools such as electric drills, impact wrenches, and screwdrivers are essential for assembly lines, where precision and speed are crucial. The increasing production of passenger vehicles, especially due to the rising middle class and demand for personal transportation, is propelling the need for efficient power tools in manufacturing processes. With the rise of electric vehicles in India, there is a growing need for specialized power tools to assemble EV components, such as battery packs and electric drivetrains. The shift towards EVs is expected to further boost the power tools market as manufacturers adapt to new technologies and production methods. There is a noticeable shift towards cordless power tools in the automotive sector due to their portability and ease of use, making them ideal for both manufacturing and repair applications. The automotive and EV manufacturing hubs are adopting new cutting and shredding technology.
For instance, in June 2023, Hyundai Corporation Holdings Co. Ltd., Korea and Sparc Electrex Limited are in negotiations to enter into an exclusive license agreement that will allow the company to use the HYUNDAI trademark for the development, production, and sale of power tools and accessories in India.
Rapid Industrial Growth to Garner New Ventures
The industrial segment holds the dominating portion of the market with increasing vehicle production and demand for assembly and maintenance effective tools. Power tools such as electric drills, impact wrenches, and pneumatic tools are required during the manufacturing processes, particularly in vehicle assemblage and repair services. The aerospace segment in India is thriving on huge government initiatives and rising investments. One such sector includes specialized aircraft assembly and maintenance power tools, for which high precision and reliability are required. The industrial end-use segment, including automotive and aerospace, is driving new ventures for the India power tools market. The Indian technology giants are investing in power tools ventures.
For example, the Software-as-a-Service (SaaS) company, Zoho Corporation stated in April 2024, that it will be entering the tool manufacturing market through its new company, Karuvi. This venture adds a significant amount to Zoho's current portfolio.
Future Market Scenario (FY2025 - FY2032)
Design and functional advancements, higher demand through automotive manufacturing, and industrial expansion are anticipated to fuel market growth.
E-commerce platforms and power tool giants expanding their operations in the region country is likely to garner market expansion.
New companies investing in power tool ventures and government supportive initiatives such as production-linked incentives (PLIs) are projected to fuel market growth.
Key Players Landscape and Outlook
Many companies are focusing on local manufacturing to reduce costs and improve supply chain efficiency. For instance, Hikoki has established a manufacturing plant in Peenya under the "Make in India" initiative, aiming to increase production capacity and decrease reliance on imports from China and Japan. This strategy helps in cost management and aligns with government policies promoting local production.
Companies are investing in research and development to innovate and diversify their product offerings. For instance, Hikoki plans to introduce new technology tools, such as Multi Volt tools and user-friendly cordless options, to cater to changing consumer preferences. This focus on innovation helps in meeting the specific needs of the Indian market, particularly in terms of lightweight, durable, and efficient tools. Companies are investing in the country, leading to development for expanding manufacturing.
In October 2023, HCL Foundation partnered with Stanley Black & Decker Inc. to skill youth in India to make them suitable for the manufacturing industry. Stanley Black & Decker intends to create training and development centers at two industrial training institutes (ITIs) under government control, ITI Guindy in Chennai and ITI Morwadi in Pune.
All segments will be provided for all regions covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.