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 Asia-Pacific region alongside China. Despite the slow replacement of hand tools by power tools in the country due to the rising demands for more precision, efficiency, performance, and to improve the overall ergonomics, the hand tools are the more dominant tool type in the country. Construction and automotive are the two main industries where the demand for hand tools is witnessing steady growth in recent years. The demand for highly sophisticated precision tools has been increasing in industries like aerospace, defense, energy, shipbuilding, and manufacturing industries in the country. Further, the ‘Make in India’ concept is also encouraging new vendors, which can support both the hand tools and power tools industries.
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The construction industry faced a huge downfall in 2020, especially during Q1 and Q2 2020 owing to the COVID-19 pandemic, where infrastructural activities were brought to a complete halt. The rising unemployment in the residential sector is also a challenging factor for construction-oriented industries like tools and accessories. The construction market is also expected to contract by 7– 8% in 2020 despite its slow revival in the latter half of 2020. However, growth can be more certain post-2021, where India is expected to contribute over $635 billion to the global construction market by 2022.
The Indian hand tools market is segmented based on tool type and end-user. Based on tool type, the hand tools market is segmented into general purpose tools (hammers, clamps and vises, pliers, ratchets and sockets, riveters, screwdrivers and nut drivers, wrecking bars, and wrenches), cutting tools (chisel and files, cable and wire cutting tools, knives and blades, and saws), layout and measuring tools (plumb bob and try square), and taps and dies. On the basis of end-user, the market is classified into commercial, industrial, and residential. The industrial segment is leading the market value share in India owing to an increase in construction activities in recent times.
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Indian Hand Tools Market Report Segment
By Tool Type
Ø General Purpose Tools
· Hammers
· Clamps and Vises
· Pliers
· Ratchets and Sockets
· Riveters
· Screwdrivers and Nut Drivers
· Wrecking Bars
· Wrenches
Ø Cutting Tools
· Chisel and Files
· Cable and Wire Cutting Tools
· Knives and Blades
· Saws
Ø Layout and Measuring Tools
· Plumb Bob
· Try Square
· Taps and Dies
Ø By End-User
· Commercial
· Industrial
· Residential
Company Profiles
· Ajay Industries
· Alok International Pvt. Ltd.
· Deeps Tools Pvt. Ltd.
· Eastman Cast and Forge, Ltd.
· Hansco Sales(India)
· JCBL Group
· JK Files (India), Ltd.
· Sterling Mfg. Co
· Venus Industrial Corp.
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