siliconindia | | May 20209How is India going to con-tribute to this massive number? What are the odds of India becoming an organized market in the near future and what will be the driving factor? The sales for power tools in In-dia have largely been influenced by macroeconomics and the vigorous industrial growth in the automobile and manufacturing industry in recent years. The sales figures have im-proved through increasing consumer confidence index and cost-effective multi-purpose power tools including the new cordless range launch. The uptick in online retail sales have been an added bonus for the industry, the consumer's preference for DIY and easy availability of products are in-creasing sales in both the DIY and professional power tools segment. In terms of battery, the shift from nick-el-cadmium to lithium-ion powered tools and from corded to cordless tools are milestones in the automo-tive industry. One of the challenges in the Indian power tools segment was cost, as the market is filled with China-made products which areinex-pensive. This in turn had adversely affected the market growth, but with changing trends, the conditions are likely to reverse. Consumers are now shifting their focus from cost-effec-tive to quality and result-driven tools. Reputed companies have begun in-vesting heavily in research and con-sumer data to innovate and further organize the availability of quality products which are durable, safe and efficient. What are some of the lat-est technologies driving the industry and how are these advancements mak-ing the lives of consumers easier?The rapid growth of smart automa-tion technologies has been a boon for the industry at large. This coupled with the latest innovations in cordless power tools give tradesmen the free-dom of workspace without compro-mising on efficiency and results, fur-ther driving growth in the segment.With a focus on environ-ment-friendly work tools and tech-niques, we are also witnessing a shift toward energy-efficient and green-certified products, which are likely to make a good impact in the automobile industry, leading the sec-tor toward a carbon-neutrality. What is the scope of in-fluence by the union gov-ernment's initiatives like `Make in India'? Initiatives like `Make in India' have directly challenged the manufac-turing sector to encourage efficien-cy and quality delivery of products. Untapped potential in India, in terms of the labour force and infrastructur-al growth, motivates the industry to adopt better ways to tackle everyday tasks. This may serve as an impetus for manufacturers to switch to us-er-friendly power tools that recog-nize and take into account the needs and requirements ofa professional at work. Such initiatives boost compet-itiveness between the domestic and international markets while giving the Indian manufacturing sector an edge over its rivals. Where are we headed in terms of the future of the industry, market behavior and technology advance-ments?The increasing penetration of Artifi-cial Intelligence is palpable in almost every sector today. The manufac-turing sector does not narrate a con-tradictory story. Owing to the user convenience and time efficiency that power tools offer, it is no surprise the traditional hand tools are facing a re-cline in the race against its evolved successors. The advent of cordless tools has conveniently enhanced user flexibility, leading to an increase in its sales. The growing environmental con-cerns and need for environmental conservation have inspired brands to adopt sustainable practices. Tech-nology and innovations along with user-convenience will now include waste management and eco-con-scious manufacturing techniques. As already mentioned, the introduction of lithium-ion batteries has marked the first step towards better ener-gy-saving solutions at work sites. The Indian power tools segment is currently witnessing a surge in con-sumers opting for long-lasting, ef-ficient tools over their inexpensive counterparts, which will further amplify growth in the Indian power tools segment in the years to come. Initiatives like `Make in India' have directly challenged the manufacturing sector to encourage efficiency and quality delivery of products
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