Inidan Power Tools Market to Reach over Rs. 150 Billion by 2021

The power tools market is anticipated to reach over Rs. 150 billion by FY’2021 due to PPP investment in smart cities in the country, increase in penetration rate of power tools in Tier 2 and 3 cities and rising number of entry of international companies in the country.

The power tools market in India has witnessed robust growth over the period FY’2011-FY’2016. The market has witnessed a double digit CAGR during the period FY’2011-FY’2016 in terms of revenue. The massive growth in manufacturing, construction, DIY Segment and e-commerce sector had majorly driven the market of power tools. Additionally, Make-In-India initiative by the government, many companies are attracted to open their offices and start operations in India.

Most of the demands for electric power tools were witnessed from the construction sector as the industry accounted for generating more than 40% share in the overall revenues in FY’2016. In FY’2016, Bosch was the market leader in electric power tools market. Stanley was the second largest player in this segment. In FY’2016, more than 20% of the total revenues from power tools were generated from pneumatic segment of power tools. They are light weight, easier to operate and deliver higher power and torque as compared to electrical counterparts.