India Cordless Power Tool Market Size almost Doubles at CAGR of 9.83%to Touch USD 2.05 Billion by 2029

Published | 06 November 2023

India cordless power tool market is flourishing because of a spurring demand for power tools from the thriving residential and commercial building construction projects across the country.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India cordless power tool market size at USD 1.06 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India cordless power tool market size to grow at a significant CAGR of 9.83% reaching a value of USD 2.05 billion by 2029. Major growth drivers for the India cordless power tool market include increasing favor for environmentally friendly tools, the surge in infrastructure projects, and the continual advancement of technology. This upward trajectory within the cordless power tool sector is further fortified by the robust growth of the industrial domain, which spurs a heightened demand for efficient tools. Simultaneously, the upward trend in automotive sales propels the demand for versatile cordless tools across diverse applications. Notably, an ascending consumer confidence index encourages investments in high-quality power tools, while the emergence of durable and cost-effective multifunctional cordless power tools caters to a wide range of needs. The shift in consumer preference towards do-it-yourself (DIY) practices is nurturing an increased desire for cordless tools, and the flourishing online retail landscape enhances the accessibility of these tools. Also, the scarcity of skilled labor and the substantial expenses associated with hiring professionals for basic services in major Indian cities are anticipated to create substantial opportunities and stimulate domestic demand for cordless power tools. Collectively, these factors underline the dynamic growth and the evolving panorama of the cordless power tool market in India. However, the limited battery life is anticipated to restrain the overall market growth during the forecast period.

India Cordless Power Tool Market – Overview

The India cordless power tool market refers to the sector within India's industrial and consumer goods market that deals with cordless power tools. Cordless power tools are handheld or portable devices powered by rechargeable batteries, designed for various applications such as drilling, cutting, fastening, and other mechanical tasks. This market encompasses the production, distribution, and consumption of cordless power tools and related accessories in India. It involves a variety of stakeholders, including manufacturers, distributors, retailers, and consumers, and is influenced by factors like economic conditions, technological advancements, infrastructure projects, consumer preferences, and the environmental consciousness driving the demand for cordless power tools in India.

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Impact of COVID-19 on India Cordless Power Tool Market

COVID-19 pandemic adversely affected the multiple sectors in India, including automotive, infrastructure, and manufacturing. The imposition of lockdowns by governments globally led to the temporary closure of factories, severely affecting power tool manufacturing companies. These lockdowns disrupted the supply side of the power tools business, causing a shortage of raw materials due to restricted production across industries and interruptions in the supply chain. Despite these challenges, the India power tools market is anticipated to experience substantial growth in the long term. Market players are actively working to enhance manufacturing activities to meet the rising demand for power tools, indicating resilience and potential for recovery in the face of the pandemic's initial setbacks.

India Cordless Power Tool Market – By End User

Based on end user, the India cordless power tool market is divided into Industrial, Commercial, and Residential segments. The industrial segment holds the highest share in the India cordless power tool market by end user. Industries such as manufacturing, automotive, and construction rely heavily on cordless power tools for a range of applications, from assembly and fabrication to maintenance and repair. The industrial sector's growing infrastructure projects and production demands necessitate the use of efficient and portable cordless tools. Moreover, the need for precision, mobility, and the ability to operate in remote or challenging environments makes cordless power tools a preferred choice for industrial users. These dynamics position the industrial sector as a key driver of the market's growth.

Competitive Landscape

Major players operating in the India cordless power tool market include Apex Tool Group, Atlas Copco AB, Hilti Corporation, Ingersoll-Rand PLC, Hitachi Ltd., Makita Corporation, Robert Bosch GmbH, Stanley Black and Decker, Apex Tool Group, and Atlas Copco AB. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Cordless Power Tool Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Cordless Power Tool Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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