Indian Power tool industry is an import driven market with a large proportion of products imported in the country through countries such as China, Germany, UAE, Japan, Korea and others. Major players usually setup a plant in China but use German technology to built power tools equipments which is finally imported by India.
The power tools industry is a contractor driven market. The contractors purchase the products depending on the applications such as drilling, breaking, demolishing and others. The power tools market is solution driven with companies focusing to sell product, service and spare parts/consumables. Thus the companies generate repeated revenues through the servicing costs and from the sale of consumables.
The rising demand for portable power equipments had increased the revenue generated from Power Tools. Majority of the companies had recorded a boost in the portable power tools segments such as Bosch. A vital reason for the increased revenue of India power tools market was witnessed owing to the construction industry.
Sales of Chisels and drill bit have been observed to be a repeated business in the market. The purchasers buy power tools generally for a longer term depending upon the use of the machinery; however the consumables are required after every interval since they wear off with the usage. The utilization of consumables also depends on the grade of concrete used; higher grade of concrete will force consumers to use high power tools.
The price of electric power tools was lower than other categories of power tools owing to low cost of production. This resulted in an increase in the number of units sold in the last five years. Additionally, high demand of such tools in construction, manufacturing, metal and other industries augmented the demand for the power tools in the country. The major players producing these products include Bosch, Hilti, Makita, FEIN and others.
An important reason for a large proportion of revenue generated by pneumatic tools is that a substantial number of tools like grinders, hammers, stapling guns and others are present in this category. 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 people have been shifting their preferences to the Powder Actuated/ Gas Actuated Tools such as nailing guns owing to the time saved by these tools in the industrial processes.
These tools are mostly used in construction and manufacturing spaces to join materials to hard substances such as concrete or steel. These tools rely on a controlled explosion created by small chemical propellant charge.
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Ankur Gupta, Head Marketing & CommunicationsAnkur@kenresearch.com
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