인도의 전동 공구 시장 규모는 2025년부터 2032년까지 예측 기간 동안 6.90%의 연평균 복합 성장률(CAGR)로 확대될 전망이며, 2024년 20억 3,000만 달러로 추정되고, 2032년에는 34억 6,000만 달러로 성장할 것으로 예측됩니다. 급속한 산업 성장, 자동차 사업 확대, 현대 제조업을 포함한 신흥 아시아 경제가 이 지역 시장을 형성할 것으로 예상됩니다. 인공지능과 머신러닝을 통합한 혁신적인 전동 공구는 인도의 수공구 및 전동 공구 업계에 부가가치를 줄 것으로 예상됩니다. 게다가 전자상거래 플랫폼의 보급률 상승, 세계의 전동 공구 대기업 시장 진입, 현지화된 기술이 시장 성장을 가속할 것으로 예상됩니다.
휴대성, 취급 용이성, 편리한 설계로 무선 전동 공구가 인기를 끌고 있습니다. 성능이 향상된 배터리 기술, 특히 건설 분야에서의 전동 공구 수요는 인도 정부가 하고 있는 대규모 인프라 투자가 원동력이 되고 있습니다. 인도는 세계에서도 유수의 건설 시장이 되어 다양한 전동 공구가 사용될 것으로 예상됩니다. DIY의 동향은 코로나바이러스의 유행에 의해 가속되고, 많은 소비자가 주택 개수에 참가하게 되었기 때문에 개인 가정으로부터의 전동 공구 수요가 증가하고, 시장의 성장률이 높아지고 있습니다. 전동 공구와 사물 인터넷(IoT)의 통합은 보다 정확하고 데이터 주도의 결과를 제공합니다.
인도의 전동 공구 시장은 고객의 호불호 및 구매시 가격 변동에 따라 변화가 일어나고 있습니다. 시장은 현재, 그 높은 성능으로 인해 리튬 이온 배터리가 지배적입니다만, 보다 비용 효율이 높고 환경에도 배려한 니켈 수소(NiMH)나 니켈 카드뮴(NiCd)이 시장을 견인하고 있습니다. 리튬 이온 배터리의 인기는 높은 에너지 밀도, 경량, 낮은 자체 방전율 때문입니다. 그 결과, Ni-Cd 전지나 Ni-MH 전지보다 동작 수명이 길고, 메인터넌스도 적게 되기 때문에 많은 제조업체나 유저로부터 인기를 모으고 있습니다. 그러나 특히 드릴링, 샌딩, 절단과 같은 특정 용도에서는 Ni-MH 및 Ni-CD 배터리로 수요 이동이 관찰됩니다.
이 보고서에서는 인도의 전동 공구 시장에 대해 조사했으며, 시장 개요와 함께 공구 유형별, 용도별, 휴대성별, 최종 사용자별, 판매 채널별, 지역별 동향 및 시장 진출기업 프로파일 등의 정보를 제공합니다.
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.