The latest report by IMARC Group, titled “India Power Tool Accessories Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the India power tool accessories market is expected to exhibit a CAGR of 9.6% during 2022-2027. Power tool accessories are additional fittings used in various engine-driven power, electric, and pneumatic power devices. They are used for production, assembling, packaging, and maintenance purposes. They are also customized with clamps or small blades, depending on the requirement of users. These tools improve performance, increase efficiency, and provide superior strength and durability to power tools. They also aid in simplifying repetitive tasks and minimizing the chances of human errors and injuries. Owing to these benefits, power tool accessories find extensive applications across electronics, logistics, construction, manufacturing, and aerospace industries across India.
India Power Tool Accessories Market Trends:
The market is primarily driven by the increasing construction activities across India. Power tools are used during construction to perform manual tasks like grinding, drilling, and cutting hard materials. In addition, the implementation of various initiatives by the Government of India (GoI) to construct shopping complexes, schools, real estate, healthcare, and industrial infrastructure, and water supply and sewage treatment systems is contributing to market growth. Besides this, power tool accessories are used in the aerospace industry for surface coating and maintenance. This, coupled with the escalating demand for improving operational efficiency, proficiency, and profitability of the aircraft, is positively influencing the market growth. Moreover, the introduction of compact and portable power tools, such as heat guns, angle grinders, and impact wrenches, for non-professional uses and the surging sales of passenger vehicles are creating a positive market outlook in the country.
- Based on the type, the market has been categorized into drill bits, screwdriver bits, router bits, circular saw blades, jig saw blades, band saw blades, abrasive wheels, reciprocating saw blades, and others.
- On the basis of the application, the market has been classified into milter saw, drill machine, reciprocating saw, hole saw, and others.
- Based on the end use sector, the market has been bifurcated into industrial (automotive, construction, aerospace and defense, energy, marine, and others) and residential.
- Region-wise, the market has been divided into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has been examined in the report, with detailed profiles of the key players operating in the industry.
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