Adoption of power tools has increased significantly in the recent past. This is owing to major advantages offered by cordless tools over corded tools such as portability, lightweight, and less equipment to carry. Corded power tools essentially bulky in handling, and since they are connected to a power source, users find it difficult in maneuvering the tool. Furthermore, corded power tools are connected to an electric source and if there is no electricity offered, these tools cannot be used. This can pose a major challenge when construction begins. Besides, corded power tools require frequent replacement of cords since faulty cords can pose a potential safety hazard to uses. For instance, to avoid this kind of threats in October 2022, Panasonic, a manufacturer of electrical products launched their new Cordless Impact Driver EY1PD1 with a very short body length of only 98mm for high power impact tightening even in narrow areas. Cordless power tools can be maneuvered easily and are lightweight, hence they are more convenient to operate. Therefore, these factors are expected to drive growth of the India power tools market during the forecast period.
India power tools market has accounted for US$ 802.1 Mn in terms of value in year 2022, and is expected to grow at CAGR of 8.9% for the period 2023-2030.
Major Players in the India Power Tool Industry:
1. Apex Tool Group LLC
Apex Tool Group LLCwas founded in 2010 and it’s Maryland, United States. The company operates in 30 countries. In 2022 Apex Tool Group today announced the appointment of James G. Booth to SVP, Global OpEx and Supply Chain.
2. Atlas Copco AB
Atlas Copco AB founded in 1873, and its Headquarters located in Nacka Municipality, Sweden. The company operates in 180 Countries.In 2021 Atlas Copco has acquired German Industrie Pumpen Vertriebs GmbH (IPV). The company is a distributor of industrial pumps for the Varisco brand
3. Emerson Electric
Emerson Electric, was launch in 1890 and it’s headquarter located St. Louis, Missouri, United States.it operate over 100 country.
4. Co Techtronic Industries,
Co Techtronic Industries, was launch in 1985 and it’s headquarter Hong Kong.it operate over 70 country.
5. Hilti Corporation
Hilti Corporation, was founded 1941, with its headquarters in Schaan, Liechtenstein..With businesses in over 120 countries.
6. Makita Corporation
Makita Corporation, was launch in 1915. And its headquarter Anjo, Aichi, Japan.. It operate over 26 country.
7. Stanley Black & Decker
Stanley Black & Decker in 1843 and it’s headquarter located New Britain, Connecticut, United States, It operate over 60 country.
Definition- A power tool is a tool that is driven by an additional power source and mechanism other than manual labor. The most commonly used power tools to use electric motors. There are different types of power tools including an electric screwdriver, hammer drills, etc. Typically, power tools are used in manufacturing, construction, and DIY activities. These tools are available in different sizes and shapes and are fairly easy to operate. Generally, there are two categories of power tools namely portable and stationary.
