Indian hand tools is estimated to exhibit a sturdy CAGR of 3.8% during the forecast period (2020-2026). The nascent DIY trend, low awareness of cordless power tools, high demand for educational campaigns, and low dominance of power tools vendors are acting as a natural driver for the hand tools market in India. Most of the middle-class families in India tend to hire low-cost laborers to save costs and carry out routine household works, which may limit the scope of DIY and home improvement activities. However, over 80% of the third-party contractors consider hand tools as essential and basic equipment for repair and maintenance, although the scope for cordless tools is on the rise. Being in the nascent stage of growth, the Western concept of DIY is a rising trend in India. Further, the growth of online channels with vendors like Amazon that offer DIY projects and tools have driven additional growth in recent years.
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In India, the demand concentration was more significant in the southern region in 2019 owing to the rising construction activities of high-rise buildings, low manual labor, rising urbanization, an increase in co-working spaces, and home improvement activities. However, the advent of the COVID-19 pandemic put halt to most of the construction and other activities that have damaged the market revenue. Although, it can be expected that in the last quarter of 2020, the hand tools market in India will start gaining gradual momentum as the lockdown impositions have lifted and more and more industries have started their operations.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region/segment
Indian Hand Tools Market Report Segment
By Tool Type
o Hammers
o Clamps and Vises
o Pliers
o Ratchets and Sockets
o Riveters
o Screwdrivers and Nut Drivers
o Wrecking Bars
o Wrenches
o Chisel and Files
o Cable and Wire Cutting Tools
o Knives and Blades
o Saws
o Plumb Bob
o Try Square
By End-User
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