After establishing itself in the industrial segment, Bosch Power Tools, a division of Bosch Limited, is eyeing the consumer and 'do-it-yourself' (DIY) market for power tools in India.
The professional and industrial power tools market in India is estimated to be around Rs 1000 crore, informed Vijay Pandey, vice president, power tools division, Bosch Ltd. "The consumer and DIY market for power tools is equally big, and now we want to tap that market. We have already launched some products that would cater to this market like our garden tools range, small carwasher, home-kit for carpentry. We are actively promoting the small and easy to use tools", he added.
Bosch has identified three sets of consumers in the segment, the curious first-timers, the pragmatic users and the passionate users.
"For the first set, we plan to use a fun approach to bring them in, while for the second set we are suggesting a 'be at home' convenience and for the third set who are already very much into using power tools, we are offering a 'do-it-with Bosch' approach", Pandey explained. Bosch has thus started a Doers' Club at Bangalore.
Bosch's power tools division already has a one-third share of the power tools market and is clocking a compounded annual growth rate (CAGR) of 25 per cent as against an industry CAGR of 9-10 per cent. Pandey did not wish to share the division's revenues, but said that they hoped to end this fiscal (January-December) with a 20 per cent growth.
"The DIY market is quite established in the western countries, while in India it is yet to pick up. We are thus planning to promote small and easy to handle tools for one's car, home-improvement projects etc aggressively and would use all kind of awareness instruments including the media and the online platforms", he added. Pandey was here in town to give away the prizes at Bosch Power Tools-NID ‘India Changers’ National Industrial Design Competition 2012 at the National Institute of Design campus in the city. The company is also mulling to set up a Bosch Power Tools Club at the institute.