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. 

Visit for Global Hand Tools Market Report at: https://www.omrglobal.com/industry-reports/hand-tools-market

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. 

Some of the players generating significant revenues in the Indian hand tools market include Ajay Industries, Akar Tools Ltd.; Alok International Pvt. Ltd.; Eastman Hand Tools, JCBL Group, JK Files (India) Limited, and Venus Industrial Corp.

Research Methodology

The market study of the Indian hand tools market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Indian Hand Tools Market Research and Analysis by Tool Type
2. Indian Hand Tools Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the Indian hand tools market.
• This report also includes a detailed and extensive market overview with the key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian hand tools market.
• Insights about market determinants which are stimulating the Indian hand tools market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.