India Power Tool Market
Power Industry’s Fierce Vision Regenerates the Potential of Power Tools in India: An Analysis By FMI
India Power Tool Market by End use, Mode of operation & Region | Forecast 2022 to 2032
India Power Tool Market Outlook (2022 to 2032)
[306 Pages Report] The global India power tool market is expected to reach a market valuation of US$ 5672.60 million by 2022, accelerating with a CAGR of 8.9% by 2022 to 2032. The India power tool market is expected to reach a valuation of US$ 13306.41 million by 2032.
Power equipment is in high demand because of its widespread applicability, convenience, and efficacy in a variety of fields, and in particular because of the time and effort they save and the portability they afford.
Macroeconomic factors, the booming Indian industrial sector, rising auto sales, a rising consumer confidence index, the introduction of reliable, reasonably priced multi-purpose industrial tools, the shift in consumer preference toward do-it-yourself values, and the expansion of the e-commerce market all bode well for the growth of sales of power tools in India.
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India Power Tool Market Size (2022E) |
US$ 5672.60 million |
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India Power Tool Market Projected Size (2032F) |
US$ 13306.41 million |
|
Value CAGR (2022 to 2032) |
8.9% |
Opportunities for and demand for power tools in the domestic market are expected to be bolstered by factors such as the scarcity of qualified labor and the high cost of employing specialists to perform basic tasks in major cities around the country.
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Key Trends of the India Power Tool Market: What’s Driving it Forward and What’s Holding it Back
The growth of the Indian economy can be attributed in large part to the country's efforts to develop its construction and manufacturing sectors.
The Indian power tool market is expanding largely due to the booming building sector. Major competitors in the industry are producing both corded and cordless tools, giving construction employees more flexibility in their daily tasks. When choosing between corded and cordless tools, construction workers typically choose the latter. Due to their adaptability and capacity to give productive solutions to clients, these tools are expected to be widely adopted by small and medium-sized manufacturing firms.
Additionally, top power tool companies all over the world are teaming up to improve their products and services for consumers. They can then use that information to create useful tools, especially for people working in the building and manufacturing industries.
India’s Growing Economic Conditions
During the projected period, the power tool market in India is expected to develop due to the country's booming industrial sector. The Indian economy has expanded dramatically in recent years and is projected to continue growing strongly over the next few years. Nearly a quarter of GDP currently comes from the industrial sector, and that proportion is projected to rise dramatically by the end of the projection horizon.
According to market research, the industrial sector in India is developing at a rate of 6-10% and is likely to increase at a robust pace due to increasing FDI equity inflows in automotive, construction, medicines & pharmaceuticals, and other sectors. In addition, the government of India has taken several aggressive measures, such as the Make in India campaign, which is likely to fuel the expansion of the power tool market in India during the coming years.
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Talk to AnalystIncrease in Chinese Imports
The expansion of the power tool market in India is anticipated to be hampered by the increasing competition from Chinese imports. Due to their competitive price, industrial tools made in China have a sizable part of the India market. Future Market Insights estimates that by 2015, Chinese-made industrial tools accounted for 18-22% of India's entire power tool market, a figure that has grown significantly over time. Recent years have seen a dramatic increase in the quantity of power equipment imported from China.
Rising Costs of Inputs
Increases in the power tool market in India are anticipated to be slowed by the ever-changing costs of key inputs. Power tools are made from various materials, such as steel, wrought iron, copper, plastic, and more. The market value of these resources is highly sensitive to changes in the cost of these components.
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Opportunities in the Market
The rising interest in do-it-yourself activities may provide excellent prospects for expansion. In large cities around the country, the lack of experienced personnel and the high expense of engaging professionals for basic services make emergency repairs and maintenance a big worry for most homeowners. Consumers' attention is shifting toward the 'Do-it-yourself' (DIY) movement in response to these new problems. With increased disposable personal income and consumer confidence index, significant development potential exists for cordless and portable power tools segments in the Indian market.
Power tools with built-in connectivity enhancements present significant commercial potential. The industry's leading producers have begun integrating cutting-edge features into their power equipment. These high-powered instruments have been upgraded by the incorporation of cutting-edge technology like the Internet of Things (IoT). Market leaders can take advantage of these openings by developing and releasing innovative solutions and expanding their footprint.
Comparative View Of India Power Tool Market
India Power Tool Market:
|
Attributes |
India Power Tool Market |
|
Cagr (2022 To 2032) |
8.9% |
|
Market Value (2022) |
US$ 5672.60 million |
|
Growth Factor |
Electric industrial tools innovation is being spurred by the widespread use of modern technology. |
|
Future Opportunities |
Due to their versatility, cordless electric power tools are increasing in popularity, which is driving the expansion of the electric power tools market. |
|
Market Trends |
One of the main problems slowing the expansion of the market is the high entry price of electric power tools. |
Servo Motors and Drives Market:
|
Attributes |
Servo Motors and Drives Market |
|
Cagr (2022 To 2032) |
4% |
|
Market Value (2022) |
US$ 13.9 billion |
|
Growth Factor |
The market is being driven by factors such as the increasing rate of factory automation, the widespread acceptance of international standards for motor efficiency, the creation of user-friendly motion control libraries and packages for motors and drives, and the volume of cars being manufactured. |
|
Future Opportunities |
The widespread use of DC servo motors is largely attributable to the rise in popularity of environmentally conscious vehicles like electric and hybrid models mandated by governments worldwide. |
|
Market Trends |
The servo motors and drives industry is forecasted to be led by the Asia-Pacific region. |
Motion Control Market:
|
Attributes |
Motion Control Market |
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Cagr (2022 To 2032) |
5.2% |
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Market Value (2022) |
US$ 15.5 billion |
|
Growth Factor |
Increased manufacturing processes require the usage of industrial robots, and users want these robots to be simple to operate and integrate with other systems, such as motion control systems. |
|
Future Opportunities |
One opportunity for the expansion of the market is the widespread adoption of Industry 4.0 by industrial companies. |
|
Market Trends |
Increased production of eco-friendly concept automobiles has sped up global expansion. |
Demand for power tools is expected to rise over the next few years due to their widespread use in the automotive and construction industries. There are many fastening tasks in the vehicle manufacturing and assembly processes. Using industrial tools can reduce the time spent on these monotonous chores and improve productivity. Therefore, OEMs and aftermarket service providers in the automotive sector increasingly rely on power equipment. The construction industry's increasing need for drills, sanders, wrenches and other hand tools is also driving up the market price of these items.
Category-wise Insights
The power tool market is segmented into electric, pneumatic, and other types, including hydraulic tools, based on their means of operation.
One category, electric tools, covers both corded and cordless options. It is expected to continue its dominance and expand significantly in the next years. The global market has also been seen to have changed the work culture of industries such as construction, the automobile sector, and others by reducing the amount of time and energy spent on various tasks.
Pneumatic tool sales are anticipated to decline as electronic tools gain market share. Common pneumatic tools that run on compressed air contribute to excessive power consumption. The United States Department of Energy claims that factories using compressed air to operate their machines are wasting energy. As an added downside, such resources are often misapplied.
It is expected that the market for other tools, such as industrial hydraulic tools, is likely to expand at a moderate rate during the projection period.
Regional Analysis
The Indian market is divided into four distinct regions: the North, the South, the East, and the West. Given the region's high concentration of manufacturing facilities, sales of power tools are likely to be strongest in South India and West India. By 2026, the South Indian market is predicted to make up 38.2 percent of India's entire market. It is predicted that the market in northern India would increase at a CAGR of 9.7 percent over the analysis time.
Competitive Landscape
Power tool market leaders in India include SKF AB, Stanley Black & Decker, Inc., Actuant Corporation, Hitachi Koki Co. Ltd., Danaher Corporation, Makita Corporation, Robert Bosch GmbH, Atlas Copco AB, and Kulkarni Power Tools Ltd.
Companies are investing heavily in the Research and Development (R&D) of energy-efficient and environmentally friendly industrial tools to obtain a competitive edge in the market and to differentiate their products. Hitachi Koki Co. Ltd, for instance, sells their series of 36V cordless gardening equipment, all of which are powered by brushless motors that consume far less power than conventional alternatives. To conform to strict environmental requirements, particularly in Europe, Makita is concentrating on creating safe products with decreased dust emissions, including low noise and vibration characteristics.
Bosch's revolutionary X-LOCK locking system for power tools is a game-changer, and it was recently unveiled in India
Bosch Power Tools, a world leader in power equipment and power tool accessories, has announced the debut of X-LOCK in India. X-LOCK is a patented new innovative technology for quick and keyless accessory swapping. With this ultimate solution, you can quickly and easily switch between different attachments for your angle grinder with the push of a button, saving time and improving your workflow.
Bosch's patented invention, X-LOCK, makes it simple and straightforward to swap out attachments, whereas other methods necessitate the use of supplementary tools. Not only can a wheel switch be processed by this system up to five times faster than with conventional interfaces, but it also provides the highest level of user comfort possible by requiring no moving parts and offering a truly tool-free and low-force switch in all circumstances, including when the disc is jammed.
As a result, people who use angle grinders can complete their tasks more quickly, leading to higher productivity and thus, a higher quality of life. The audible snap when mounting an X-LOCK wheel or the active response of 'click and feel' lets users understand that the disc has been connected firmly, eliminating the chance of improper mounting, and enhancing safety, productivity, and peace of mind on the job site.
Currently, Bosch offers the most comprehensive selection of accessories on the market, satisfying the requirements of all possible uses. Bosch has set a new standard in the industry with its patent-pending X-LOCK system and accessory range, which is compatible with all 5 angle grinders and may be licensed to other brands.
Some of its key features include:
Convenience- Simply remove the grinding attachment and replace it with a new one in a fraction of the time it would take using the standard method.
Comprehensive Cover- There is a plethora of grinders and attachments available to meet any need. Useful even for directional accessories like diamond discs, which can't be mounted in the wrong direction.
Reliability- Faster and simpler than traditional methods of accessory swapping for grinders, with no moving or fragile parts and no need for special mounting hardware.
Scope of the Report
|
Attribute |
Details |
|
Forecast Period |
2022 to 2032 |
|
Historical Data Available for |
2017 to 2021 |
|
Market Analysis |
US$ million for Value |
|
Key Regions Covered |
North America, Latin America, Europe, East Asia, South Asia, and the Middle East & Africa |
|
Key Countries Covered |
The USA, Brazil, Mexico, Germany, The United Kingdom, China, India, Japan, Australia, and GCC Countries |
|
Key Segments Covered |
End use, Mode of operation, Region |
|
Key Companies Profiled |
SKF AB, Stanley Black & Decker, Inc., Actuant Corporation, Hitachi Koki Co. Ltd., Danaher Corporation, Makita Corporation, Robert Bosch GmbH, Atlas Copco AB, and Kulkarni Power Tools Ltd. |
|
Report Coverage |
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
|
Customization & Pricing |
Available upon Request |
India Power Tool Market by Category
By End-use:
- Industrial Power Tools
- Household Power Tools
By Mode of Operation:
- Electric
- Pneumatic
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
Frequently Asked Questions
At what rate will the India Power Tool Market grow?
Throughout the forecast period, the India Power Tool market is expected to grow at a CAGR of 8.9%.
What is the expected value of the India Power Tool Market by 2032?
By 2032, the India Power Tool market is expected to be worth US$ 13306.41 Mn.
What are the key factors driving the India Power Tool Market?
Expanding demand for industrial machinery is driving the India Power Tool market growth.
What are the key strategies adopted by the major players in the India Power Tool Market?
Major India Power Tool market players use strategies such as introducing new products and improving them, as well as investing in research and development.
Table of Content
1. Executive Summary | India Power Tool Market 1.1. India Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ million) & Volume (Unit) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ million) & Volume (Unit) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-use 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ million) & Volume (Unit) Analysis By End-use, 2017 to 2021 5.3. Current and Future Market Size Value (US$ million) & Volume (Unit) Analysis and Forecast By End-use, 2022 to 2032 5.3.1. Industrial Power Tools 5.3.2. Household Power Tools 5.4. Y-o-Y Growth Trend Analysis By End-use, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By End-use, 2022 to 2032 6. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Mode of Operation 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ million) & Volume (Unit) Analysis By Mode of Operation, 2017 to 2021 6.3. Current and Future Market Size Value (US$ million) & Volume (Unit) Analysis and Forecast By Mode of Operation, 2022 to 2032 6.3.1. Electric 6.3.2. Pneumatic 6.3.3. Others 6.4. Y-o-Y Growth Trend Analysis By Mode of Operation, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Mode of Operation, 2022 to 2032 7. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ million) & Volume (Unit) Analysis By Region, 2017 to 2021 7.3. Current Market Size Value (US$ million) & Volume (Unit) Analysis and Forecast By Region, 2022 to 2032 7.3.1. India 7.4. Market Attractiveness Analysis By Region 8. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 8.1. Historical Market Size Value (US$ million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2017 to 2021 8.2. Market Size Value (US$ million) & Volume (Unit) Forecast By Market Taxonomy, 2022 to 2032 8.2.1. By Country 8.2.2. By End-use 8.2.3. By Mode of Operation 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By End-use 8.3.3. By Mode of Operation 8.4. Key Takeaways 9. Key Countries Power Tool Market Analysis 9.1. India 9.1.1. Pricing Analysis 9.1.2. Market Share Analysis, 2021 9.1.2.1. By End-use 9.1.2.2. By Mode of Operation 10. Market Structure Analysis 10.1. Competition Dashboard 10.2. Competition Benchmarking 10.3. Market Share Analysis of Top Players 10.3.1. By Regional 10.3.2. By End-use 10.3.3. By Mode of Operation 11. Competition Analysis 11.1. Competition Deep Dive 11.1.1. Atlas Copco AB 11.1.1.1. Overview 11.1.1.2. Product Portfolio 11.1.1.3. Profitability by Market Segments 11.1.1.4. Sales Footprint 11.1.1.5. Strategy Overview 11.1.1.5.1. Marketing Strategy 11.1.1.5.2. Product Strategy 11.1.1.5.3. Channel Strategy 11.1.2. Snap-on International 11.1.2.1. Overview 11.1.2.2. Product Portfolio 11.1.2.3. Profitability by Market Segments 11.1.2.4. Sales Footprint 11.1.2.5. Strategy Overview 11.1.2.5.1. Marketing Strategy 11.1.2.5.2. Product Strategy 11.1.2.5.3. Channel Strategy 11.1.3. Techtronic Industries Co. Ltd 11.1.3.1. Overview 11.1.3.2. Product Portfolio 11.1.3.3. Profitability by Market Segments 11.1.3.4. Sales Footprint 11.1.3.5. Strategy Overview 11.1.3.5.1. Marketing Strategy 11.1.3.5.2. Product Strategy 11.1.3.5.3. Channel Strategy 11.1.4. Danaher Corporation 11.1.4.1. Overview 11.1.4.2. Product Portfolio 11.1.4.3. Profitability by Market Segments 11.1.4.4. Sales Footprint 11.1.4.5. Strategy Overview 11.1.4.5.1. Marketing Strategy 11.1.4.5.2. Product Strategy 11.1.4.5.3. Channel Strategy 11.1.5. Actuant Corporation 11.1.5.1. Overview 11.1.5.2. Product Portfolio 11.1.5.3. Profitability by Market Segments 11.1.5.4. Sales Footprint 11.1.5.5. Strategy Overview 11.1.5.5.1. Marketing Strategy 11.1.5.5.2. Product Strategy 11.1.5.5.3. Channel Strategy 11.1.6. SKF AB 11.1.6.1. Overview 11.1.6.2. Product Portfolio 11.1.6.3. Profitability by Market Segments 11.1.6.4. Sales Footprint 11.1.6.5. Strategy Overview 11.1.6.5.1. Marketing Strategy 11.1.6.5.2. Product Strategy 11.1.6.5.3. Channel Strategy 11.1.7. Hitachi Koki Co. Ltd. 11.1.7.1. Overview 11.1.7.2. Product Portfolio 11.1.7.3. Profitability by Market Segments 11.1.7.4. Sales Footprint 11.1.7.5. Strategy Overview 11.1.7.5.1. Marketing Strategy 11.1.7.5.2. Product Strategy 11.1.7.5.3. Channel Strategy 11.1.8. Makita Corporation 11.1.8.1. Overview 11.1.8.2. Product Portfolio 11.1.8.3. Profitability by Market Segments 11.1.8.4. Sales Footprint 11.1.8.5. Strategy Overview 11.1.8.5.1. Marketing Strategy 11.1.8.5.2. Product Strategy 11.1.8.5.3. Channel Strategy 11.1.9. Robert Bosch GmbH 11.1.9.1. Overview 11.1.9.2. Product Portfolio 11.1.9.3. Profitability by Market Segments 11.1.9.4. Sales Footprint 11.1.9.5. Strategy Overview 11.1.9.5.1. Marketing Strategy 11.1.9.5.2. Product Strategy 11.1.9.5.3. Channel Strategy 11.1.10. Kulkarni Power Tools 11.1.10.1. Overview 11.1.10.2. Product Portfolio 11.1.10.3. Profitability by Market Segments 11.1.10.4. Sales Footprint 11.1.10.5. Strategy Overview 11.1.10.5.1. Marketing Strategy 11.1.10.5.2. Product Strategy 11.1.10.5.3. Channel Strategy 12. Assumptions & Acronyms Used 13. Research Methodology
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List of Tables
Table 1: Market Value (US$ million) Forecast by Region, 2017 to 2032 Table 2: Market Volume (Unit) Forecast by Region, 2017 to 2032 Table 3: Market Value (US$ million) Forecast by End-use, 2017 to 2032 Table 4: Market Volume (Unit) Forecast by End-use, 2017 to 2032 Table 5: Market Value (US$ million) Forecast by Mode of Operation, 2017 to 2032 Table 6: Market Volume (Unit) Forecast by Mode of Operation, 2017 to 2032 Table 7: Market Value (US$ million) Forecast by Country, 2017 to 2032 Table 8: Market Volume (Unit) Forecast by Country, 2017 to 2032 Table 9: Market Value (US$ million) Forecast by End-use, 2017 to 2032 Table 10: Market Volume (Unit) Forecast by End-use, 2017 to 2032 Table 11: Market Value (US$ million) Forecast by Mode of Operation, 2017 to 2032 Table 12: Market Volume (Unit) Forecast by Mode of Operation, 2017 to 2032
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Talk to AnalystList of Charts
Figure 1: Market Value (US$ million) by End-use, 2022 to 2032 Figure 2: Market Value (US$ million) by Mode of Operation, 2022 to 2032 Figure 3: Market Value (US$ million) by Region, 2022 to 2032 Figure 4: Market Value (US$ million) Analysis by Region, 2017 to 2032 Figure 5: Market Volume (Unit) Analysis by Region, 2017 to 2032 Figure 6: Market Value Share (%) and BPS Analysis by Region, 2022 to 2032 Figure 7: Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032 Figure 8: Market Value (US$ million) Analysis by End-use, 2017 to 2032 Figure 9: Market Volume (Unit) Analysis by End-use, 2017 to 2032 Figure 10: Market Value Share (%) and BPS Analysis by End-use, 2022 to 2032 Figure 11: Market Y-o-Y Growth (%) Projections by End-use, 2022 to 2032 Figure 12: Market Value (US$ million) Analysis by Mode of Operation, 2017 to 2032 Figure 13: Market Volume (Unit) Analysis by Mode of Operation, 2017 to 2032 Figure 14: Market Value Share (%) and BPS Analysis by Mode of Operation, 2022 to 2032 Figure 15: Market Y-o-Y Growth (%) Projections by Mode of Operation, 2022 to 2032 Figure 16: Market Attractiveness by End-use, 2022 to 2032 Figure 17: Market Attractiveness by Mode of Operation, 2022 to 2032 Figure 18: Market Attractiveness by Region, 2022 to 2032 Figure 19: Market Value (US$ million) by End-use, 2022 to 2032 Figure 20: Market Value (US$ million) by Mode of Operation, 2022 to 2032 Figure 21: Market Value (US$ million) by Country, 2022 to 2032 Figure 22: Market Value (US$ million) Analysis by Country, 2017 to 2032 Figure 23: Market Volume (Unit) Analysis by Country, 2017 to 2032 Figure 24: Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 25: Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 26: Market Value (US$ million) Analysis by End-use, 2017 to 2032 Figure 27: Market Volume (Unit) Analysis by End-use, 2017 to 2032 Figure 28: Market Value Share (%) and BPS Analysis by End-use, 2022 to 2032 Figure 29: Market Y-o-Y Growth (%) Projections by End-use, 2022 to 2032 Figure 30: Market Value (US$ million) Analysis by Mode of Operation, 2017 to 2032 Figure 31: Market Volume (Unit) Analysis by Mode of Operation, 2017 to 2032 Figure 32: Market Value Share (%) and BPS Analysis by Mode of Operation, 2022 to 2032 Figure 33: Market Y-o-Y Growth (%) Projections by Mode of Operation, 2022 to 2032 Figure 34: Market Attractiveness by End-use, 2022 to 2032 Figure 35: Market Attractiveness by Mode of Operation, 2022 to 2032 Figure 36: Market Attractiveness by Country, 2022 to 2032
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