Facts & Figures

The Indian Hand Tools and allied products market is showing clear signs of moving from a price-sensitive bracket to a quality-conscious era and an “industry” or “application” oriented requirements. The growth in Industry sectors like Aviation, Heavy Engineering, Automobile/ Auto Service, Gardening / Horticulture, Woodworking & Furniture, Construction / Infrastructure has necessitated a growing need for quality / specialty tools. 
 
Personnel / Workers in the Manufacturing, Operations Maintenance, Repair and Overhaul in above mentioned industry sectors are now seeking quality and high-end and special Hand Tools, Power Tools, Specialty Tools, Fasteners and allied products. 
 
Trends in the Industry (for Hand Tools, Power Tools, Fasteners and Specialty Tools)
 
  • The Indian hand tools market is anticipated to grow at a CAGR of 3.8% during the forecast period. India is expected to be one of the well-established markets for conventional hand tools market in the in the Asia-Pacific region alongside China
  • The global power tools market is estimated to grow from USD 29. 5 billion in 2020 to USD 36. 9 billion by 2025, at a CAGR of 4%.
  • The Indian power tools market is anticipated to reach over US$ 2 bn. (INR 150 bn.) by FY’2021. India power tools market is anticipated to register healthy CAGR of 8.9% in terms of value, and 9.5% in terms of volume by 2026.
  • Industrial Fasteners - The industrial fasteners market is expected to reach a value of over US$ 108 Bn by 2023, expanding at a CAGR of 6.5%
  • The growth is driven through various industries like, automotive demand, increasing infrastructure & construction activities, developing heavy engineering industry and increase in disposable income of consumers.
  • Construction and automotive are the two main industries where the demand for hand tools is witnessing steady growth in recent years.
  • Indian Automotive industry (including component manufacturing) is expected to reach US$ 251.4-282.8 billion by 2026.
  • The demand for highly sophisticated precision tools has been increasing in industries like aerospace, defense, energy, shipbuilding, and manufacturing industries in the country.
  • The manufacturing sector of India has the potential to reach US$ 1 trillion by 2025
  • Indian Appliance and Consumer Electronics (ACE) market is expected to increase at a 9% CAGR to reach US$ 48.37 bn. by 2022



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