The Indian hand tools, power tools and fasteners market is witnessing growth, driven by government capital expenditure on roads, railways, airports and housing, alongside rising demand from furniture manufacturing, the automotive aftermarket and the growing Do it Yourself (DIY) culture, said industry officials and experts.
According to a study by IMARC Group, the domestic hand tools market, valued at around $826 million in 2024, is projected to reach $1.22 billion by 2033, growing at a CAGR of 4.1%, supported by infrastructure build-out, MSME modernization and strong aftermarket demand.
The power tools segment, as per this study, estimated at $1.85 billion in 2025, is expected to more than double to $ 3.8 billion by 2035 at a CAGR of 7.8%, with cordless tools gaining momentum for their safety, mobility and productivity benefits.
Together, hand tools, power tools and fastening systems form the backbone of modern manufacturing, construction and infrastructure projects powering industries from automotive and aerospace to real estate and smart city development, while fasteners literally “hold together” everything from consumer appliances to industrial machinery, they said.
Considering the growth potentials and to discourage imports, the Union Government is seen encouraging domestic manufacturers to step up local manufacturing which has started gaining momentum.
“Post-pandemic, discussions on the hand tools and power tools sector resulted in the sanction for ₹3,000 crore allocation by government to establish domestic power tool manufacturing in India,” said Rajesh Peshion, General Manager, Marketing, Osho Tools Pvt. Ltd which manufacture tools under the Venus brand name.
“This initiative is expected to reduce import dependence, retain value within the country, and generate substantial employment opportunities,” he said while speaking at the Hand Tools & Fasteners Expo (HTF) and International Exhibition on Cutting and Welding Materials (CWE) organised by Informa Markets in India in Mumbai.
This company is now indigenously manufacturing cold forged sockets and impact sockets which were earlier imported from China. “95% of these tools are imported from China and after 5 years of efforts we are now able to manufacturer these in India. With support from Government we can replace imports of about ₹100 crore from China,” he added.
Neeraj Aggarwal, Director, De Neers Tools Ltd, said “As one of the leading brands in hand tools, we are committed to offering a complete range of solutions and are expanding our capabilities with two upcoming manufacturing units in India.”
“This step will not only reduce dependence on imports but also generate employment and contribute to building a stronger future for the hand tools industry in the country,” he said while speaking at this event which is co-located with the Used Machinery Expo (UMEX) and the International Machine Tools Expo (IMEX).
Aman Aggarwal, Managing Director, A Cube Tools & Hardware LLP India, said “For years, India’s OEMs and factories largely relied on established European tool brands. With the introduction of Dong Cheng we have been able to match, and in many cases exceed, those benchmarks by offering machines that combine reliable quality with greater affordability.”
“This shift has encouraged many OEMs to adopt Dong Cheng as a trusted alternative, with tools delivering a consistent lifespan of six months to a year. It reflects the growing confidence in competitive, high-quality solutions that meet the demands of Indian manufacturing,” he said.
Yogesh Mudras, Managing Director, Informa Markets in India, said, “The tools industry is a critical enabler of global manufacturing, driving efficiency and productivity across construction, automotive, electronics and infrastructure. India’s ambition to expand hand and power tools exports from the current $1 billion to over $25 billion by 2035 reflects the enormous opportunities ahead.”
Wouter Molman, Chief Commercial Officer, Informa Markets IMEA, said “Our focus is on strengthening business opportunities, developing industry linkages, and build a platform that supports long-term growth for the sector. We are optimistic about the journey ahead and the opportunities this transformation will create for all stakeholders.”
Published – September 28, 2025 02:13 pm IST