인도 산업용 수공구 시장 규모는 예측 기간 동안 5.50%의 복합 연간 성장률(CAGR) 확대되고, 2024년 7억 6,000만 달러에서 2032년에는 11억 7,000만 달러로 성장 예측됩니다. 인도의 산업 공간은 자동차 산업과 산업 부문의 상승과 함께 끊임없이 성장하고 있습니다. IoT, 인공지능, 머신러닝의 출현은 다른 인더스트리 4.0 요소와 함께이 지역의 공간을 변화 시켰습니다. 시장 성장은 인도 정부가 인프라 프로젝트에 주력하는 것이 원동력이 될 것으로 보입니다. 도로, 교량, 도시 개발에 대한 투자는 건설과 유지 보수 목적으로 수많은 수공구가 필요하기 때문에 부문에 관계없이 수요를 견인하고 있습니다.
전자상거래 플랫폼은 핸드 툴 판매 방법을 변경했습니다. 온라인 시장을 통해 소비자와 기업 모두 다양한 제품에 쉽게 액세스할 수 있게 되어 수공구 시장에 성장 기회를 제공합니다. 이러한 추세는 소비자의 온라인 구매 채용 증가와 함께 지속될 것으로 예상됩니다. 소비자들 사이에서 DIY 프로젝트가 유행하고 있으며, 이는 핸드 툴 수요를 뒷받침하고 있습니다. 더 많은 사람들이 홈 센터와 수리 공장에 다니게 되고, 소비자를 위한 핸드 툴의 판매량은 증가의 길을 따라가고 있습니다. 정부는 시장 개척을 강화하기 위해 업계 리더와 선발 공구 제조업체의 제안을 받고 있습니다.
인도에서 자동차 생산량이 증가함에 따라 조립, 유지 보수 및 수리 과정에서 사용되는 핸드 툴은 매우 다양 해지고 있습니다. 자동차 산업에서의 제조 공정 증가는 렌치, 스크류 드라이버, 플라이어 등의 공구에 대한 수요를 촉진하고, 보다 많은 기업들이 조립 라인의 플로어 및 서비스 공장에 대응하는 요건을 갖춘 사업을 시작하고 있습니다. 자동차 제조업체가 자동차에 많은 첨단 기능을 탑재하고 있기 때문에 정밀한 조립이나 메인터넌스에는 특수한 핸드 툴이 필요합니다. 이 트렌드는 현재의 최신 차량에 사용되는 참신한 기술과 복합 설계를 지원하는 혁신적인 핸드 툴에 대한 수요 증가를 초래합니다. 전자상거래 플랫폼은 많은 기업과 소비자가 이러한 손 도구에 쉽게 액세스할 수 있도록 했습니다. 온라인 시장에서 자동차 핸드 툴을 쉽게 비교,구입할 수 있게 된 것은 자동차 소유자들 사이에서 높아지는 DIY 문화에 매치한 요인입니다.
이 보고서는 인도의 산업용 수공구 시장에 대해 조사했으며,, 시장 개요와 함께 공구 유형별, 용도별, 최종 사용자별, 판매 채널별, 지역별 동향 및 시장 진출기업 프로파일 등의 정보를 제공합니다.
India industrial hand tools market is projected to witness a CAGR of 5.50% during the forecast period FY2025-FY2032, growing from USD 0.76 billion in FY2024 to USD 1.17 billion in FY2032. The industrial space of India is constantly growing with the rising automotive and industrial sectors. The advent of IoT, artificial intelligence, and machine learning has transformed the regional space along with other industries 4.0 elements. The growth of the market will be driven by the Indian government's focus on infrastructure projects. Investments in roads, bridges, and urban development need vast arrays of hand tools for construction and maintenance purposes, hence driving the demand across sectors.
E-commerce platforms have changed the way hand tools are marketed and sold. Online marketplaces make it very easy for both consumers and businesses to access a wide variety of products, thereby providing growth opportunities for the hand tools market. The trend is expected to persist with the increased adoption of online purchase by consumers. The trend of DIY projects among consumers has been gaining popularity and is thus helping to drive demand for hand tools. With more people getting into home improvement and repair, the volumes of consumer-grade hand tools were selling at ever-increasing volumes. The government takes suggestions from industry leaders and original tool manufacturers to enhance market development.
In April 2024, original equipment manufacturers (OEMs) were asked by the Ministry of Heavy Industries to provide certain points for the 100 Days Plan in April 2024. In September 2024, the much-anticipated Automotive Mission Plan (AMP) 2047 is probably going to be unveiled.
Expanding Automotive Manufacturing and Government Support to Fuel Market Growth
The increase in vehicle production in India demands an extremely diversified range of hand tools for assembly, maintenance, and repair processes. The rising manufacturing processes in the automotive industry propels the demand for tools such as wrenches, screwdrivers, and pliers, wherein more companies set up their operations with correspondent requirements on the floors of the assembly lines and in service workshops. As automakers are bringing out many advanced features in vehicles, special hand tools are required for precise assembly and maintenance. The trend beckons to the increasing demand for innovative hand tools that would support novel technologies and compound designs used in current modern vehicles. E-commerce platforms made it easy for these hand tools to be accessed by many businesses and consumers alike. Comparing and purchasing automotive hand tools from online marketplaces with ease is a factor that matches the growing DIY culture among vehicle owners.
Government support through initiatives, grants, tax aids, and awareness programs are streamlining market developments. Government initiatives aimed at enhancing skill development in the automotive sector led to a more skilled workforce that requires quality hand tools for effective performance. This focus on training and skill enhancement indirectly boosts the demand for hand tools. Furthermore, companies collectively set-up exhibition catering to hand and power tools manufacturers.
For instance, in July 2024, Hands Tools and Fastener Expo has been announced to be held in Dwarka, Delhi between 27-28 September 2024. The event includes 5 collected exhibitions comprising Advanced Hand Tools, Power Tools, and Fasteners (HTF), Cutting and Welding Equipment (CWE), International Machine Tools Expo (IMEX), Used Machinery Expo (UMEX), Engineering and Manufacturing Expo (TECHINDIA), and Minerals, Metals, Metallurgy & Materials (MMMM).
Infrastructure Development and Expanding Manufacturing Plants to Fuel Market
The burgeoning infrastructure sector in India is a major driver for the industrial hand tools market in India. As the country invests heavily in construction projects, the demand for hand tools used in these projects increases significantly. Furthermore, the increasing number of manufacturing plants across India, particularly in sectors, such as automotive, is driving growth in the industrial hand tools market. These plants require a wide range of hand tools for assembly, maintenance, and repair work. The rising popularity of DIY projects among individuals is contributing to the demand for hand tools in retail segment. People are increasingly engaging in home improvement, automotive repairs, and other DIY activities, driving sales of hand tools.
Companies follow the latest trend of localization, setting up plants to produce hand tools solutions for local manufacturers. International players focus on delivering products that are efficient and useful to Indian manufacturers across the verticals.
For instance, in January 2023, Bosch Power Tools India, supplier of power tools for the construction, woodworking, and metalworking industry, introduced the GWS 800 Professional Grinder, adding to its robust line of angle grinders. Furthermore, Bosch Power Tools' localization share of India reached 55% in 2023 as a result of this launch.
The advent of high-speed internet, easy shipping options, advanced logistics, and brand awareness and research has fueled the demand for online sales channels. However, the retail segment holds the largest share of market. Easy availability and higher penetration of hardware retail stores in India are the major reasons behind the growth of this segment. The online segment thrives on two major factors, DIY trends and higher availability of product-specific tools. Local online platforms, such as Moglix, Toolswala, and Industrybuying support the sales of industrial hand tools in the country. Apart from the local platforms, e-commerce platforms, such as Flipkart and Amazon, are providing broad range of tools and tool kits. Companies are introducing product lines through various sales channels such as retail, distributors, and e-commerce platforms. However, some Indian manufacturers choose exhibitions for better traction and media coverage.
For instance, in June 2024, The Coimbatore District Small Industries Association (CODISSIA) organized the 20th edition of International Machine Tools and Industrial Trade Fair (Intec 2024) in Coimbatore, India. Native companies like Taparia Tools Ltd. attended the fair and showcased their product line.
Future Market Scenario (FY2025 - FY2032)
Design and functional advancements are anticipated to play a major role in shaping the hand tool industry going forward. It is anticipated that manufacturers would concentrate on producing ergonomic tools that improve user comfort and productivity in addition to instruments that use advanced materials for performance and durability.
India industrial hand tools market is projected to compete at international levels with already established markets. Manufacturing proficiency and export potential are expected to drive growth and innovation in this segment.
The market is expected to be shaped by the development of distribution channels, especially those who use internet platforms. More access to a wide variety of hand tools will be made possible by the ease of online shopping, especially in tier-II and tier-III cities where industrial activity is growing.
Key Players Landscape and Outlook
Important players in India industrial hand tool market use several approaches to grow their businesses. Leading companies are spending money on R&D to release advanced hand tools with innovative functionality. This includes lightweight materials, ergonomic designs, and specialty equipment for particular industries such as construction and automobile. Leading companies are growing their production capacities and distribution systems throughout India.
To strengthen their position in the market and obtain access to new product categories and geographical areas, some companies are purchasing smaller competitors. To increase their market presence, businesses are forging strategic alliances with retailers, distributors, and even end-user sectors. These partnerships facilitate the delivery of customized solutions, and a deeper understanding of client demands. Furthermore, industrial giants are acquiring their stakes in local manufacturing brands to promote their local share of market.
For instance, in January 2024, Reliance industries acquired 37.7% stake in Alok International Pvt. Ltd. for USD 29.8 million. Furthermore, in compliance with the resolution plan that has been authorized, Alok Industries has given RIL a total consideration of Rs 250 crore by assigning 250 crore 9 percent Optionally Convertible Preference Shares (OCPS) of Re 1 each for cash at par. Company further subscribed to 9% non-convertible redeemable preferences share of Alok Industries as it holds 40.01% of its equity share capital.
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.