Bosch, Stanley, Makita, Hitachi and Hilti are the Leading Players by Revenue in Power Tools Market in India: Ken Research
Posted on 07 September 2016 by KenResearch Energy and Utilities,
India power tools market is an import driven market where key players manufacture their products abroad and import them from countries like China, Germany, Japan, Korea and some others. In FY’2016, a very small proportion of the manufacturing was done in India. The major manufacturing cluster for power tools includes cities such as Mumbai, New Delhi, Nagpur, Pune, Bangalore, Chennai and others. These cities are major manufacturing clusters owing to their strong distribution network which reduces logistics and transportation cost. In terms of value, the highest proportion of exports by India is to China which uses these tools as inputs for manufacturing products.
In India, Bosch, the largest market player has registered the surge in proportion of power tools in its total revenue from FY’2012 to FY’2013 that added up to the total market revenue. This increased the total revenue of the power tools industry since Bosch forms a major market share.
The major reason attributed for a small market share was the high cost associated with hydraulic power tools. Hydraulic tools delivered the most power and torque, operate at very low temperatures, can be used for underwater work and usually have a high lifespan requiring low maintenance.
It has been observed that the market share of pneumatic tools have inclined over the years in review period owing to the technical upgradation which made it competitive to the equivalent electric tools. For an instance, pneumatic tools are safer to run and sustain than their electric power tool equivalents, and have a greater power-to-weight ratio, permitting a smaller and lighter tool to achieve the same task.
The market size of machinery and equipment continued to rise each year due to increased construction and manufacturing activities in the country during the period FY’2011-FY’2016.
The auto component industry is the largest consumer of Pneumatic power tools. This industry is projected to grow by 8-10% in the next five years owing to rising component content per vehicle and demands. The rise in manufacturing of auto components will stimulate the growth for Pneumatic tools in the future.
For more information on the market research report please refer to the below link:
Ankur Gupta, Head Marketing & Communications