Product Code: ETC009524 | Publication Date: Aug 2023 | Updated Date: May 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
India Hand Tool market currently, in 2023, has witnessed an HHI of 1573, Which has increased slightly as compared to the HHI of 1512 in 2017. The market is moving towards moderately competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
The India hand tool market is estimated to grow at a CAGR of 6.1% during the forecast period (2020-2026). The growth of the India hand tool market can be attributed to rising construction activities, increasing consumer awareness about safety and ergonomics, growing automotive industry, and technological advancements in hand tools. Additionally, favorable government policies to promote investments into infrastructure development have created opportunities for manufacturers in the India market.
1. Increasing Consumer Awareness About Safety & Ergonomics: Consumers are becoming increasingly aware about safety standards while using hand tools which is leading them towards opting for high quality products that meet these criteria driving up demand within this space . Moreover companies are focusing on developing ergonomic designs that enhance user experience while reducing fatigue thus boosting overall productivity levels too observed among buyers hence propelling growth prospects further ahead .
2. Rising Construction Activities: The emergence of smart cities and other initiatives by the Indian Government has led to an increase in infrastructure projects across India which has propelled demand for hand tools from the construction sector. This trend is expected to continue due to increased focus on urbanization as well as rural electrification projects that are underway.
3. Growing Automotive Industry: With rising disposable income levels coupled with changing preferences towards vehicle ownership, automobile sales have been witnessing a steady rise over recent years in India resulting in increased demand for hand tools from this sector as well as related components such parts and accessories requiring maintenance or repair services.
1. High Cost Of Operations : Due To high cost involved with production operations , manufacturing costs tend to go up making it difficult for small scale players who lack financial resources making it challenging environment even more restricting such firms from competing effectively with major players present within this space.
2) Availability Of Counterfeit Products : Presence of counterfeit products having inferior quality materials being sold at lower prices than original branded ones becomes another threat mainly faced by established brands operating within this segment thus posing stiff competition thereby affecting their margins negatively adversely affecting their bottom lines.
3) Stringent Regulatory Policies : While governments across different countries including india have initiated measures aimed at promoting investment into infrastructural developments , stringent rules laid out pertaining environmental regulations pose challenges hindering smooth progress witnessed otherwise hampering business expansion plans formulated by various stakeholders operating within this segment impacting revenues generated eventually observed by them ultimately slowing down growth rate noticed hereon hindering its future outlooks significantly.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Hand Tool Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Hand Tool Market Revenues & Volume, 2020 & 2030F |
3.3 India Hand Tool Market - Industry Life Cycle |
3.4 India Hand Tool Market - Porter's Five Forces |
3.5 India Hand Tool Market Revenues & Volume Share, By Types, 2020 & 2030F |
3.6 India Hand Tool Market Revenues & Volume Share, By End-Users, 2020 & 2030F |
3.7 India Hand Tool Market Revenues & Volume Share, By Distribution Channels, 2020 & 2030F |
4 India Hand Tool Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Hand Tool Market Trends |
6 India Hand Tool Market, By Types |
6.1 India Hand Tool Market, By Types |
6.1.1 Overview and Analysis |
6.1.2 India Hand Tool Market Revenues & Volume, By Types, 2020-2030F |
6.1.3 India Hand Tool Market Revenues & Volume, By Wrench, 2020-2030F |
6.1.4 India Hand Tool Market Revenues & Volume, By Plier, 2020-2030F |
6.1.5 India Hand Tool Market Revenues & Volume, By Screw Drivers, 2020-2030F |
6.1.6 India Hand Tool Market Revenues & Volume, By Hammers, 2020-2030F |
6.1.7 India Hand Tool Market Revenues & Volume, By Cable cutter, 2020-2030F |
6.1.8 India Hand Tool Market Revenues & Volume, By Others, 2020-2030F |
6.2 India Hand Tool Market, By End-Users |
6.2.1 Overview and Analysis |
6.2.2 India Hand Tool Market Revenues & Volume, By Professional, 2020-2030F |
6.2.3 India Hand Tool Market Revenues & Volume, By Industrial, 2020-2030F |
6.2.4 India Hand Tool Market Revenues & Volume, By DIY, 2020-2030F |
6.3 India Hand Tool Market, By Distribution Channels |
6.3.1 Overview and Analysis |
6.3.2 India Hand Tool Market Revenues & Volume, By Online, 2020-2030F |
6.3.3 India Hand Tool Market Revenues & Volume, By Offline, 2020-2030F |
7 India Hand Tool Market Import-Export Trade Statistics |
7.1 India Hand Tool Market Export to Major Countries |
7.2 India Hand Tool Market Imports from Major Countries |
8 India Hand Tool Market Key Performance Indicators |
9 India Hand Tool Market - Opportunity Assessment |
9.1 India Hand Tool Market Opportunity Assessment, By Types, 2020 & 2030F |
9.2 India Hand Tool Market Opportunity Assessment, By End-Users, 2020 & 2030F |
9.3 India Hand Tool Market Opportunity Assessment, By Distribution Channels, 2020 & 2030F |
10 India Hand Tool Market - Competitive Landscape |
10.1 India Hand Tool Market Revenue Share, By Companies, 2023 |
10.2 India Hand Tool Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |