GCC Household Hand Tools Market, By Product (Cutting Tools, Measuring Tools, Taps & Dies, General Tools); By Distribution Channel (Retail Channels, Online), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

GCC Household Hand Tools Market, By Product (Cutting Tools, Measuring Tools, Taps & Dies, General Tools); By Distribution Channel (Retail Channels, Online), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

GCC Household Hand Tools Market Size Set to Touch USD 850.5 Million by 2029

GCC household hand tools market is gaining traction because of the increasing demand for household hand tools for DIY projects and home improvement and expanding population and urbanization.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the GCC household hand tools market size at USD 691.63 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the GCC household hand tools market size to grow at a CAGR of 3.51% reaching a value of USD 850.47 million by 2029. A growing emphasis on home renovations and the high cost of skilled labor are two significant growth factors for the GCC household hand tools market. These factors directly affect consumer demand for household hand tools for DIY household repairs.

GCC Household Hand Tools Market – Overview

A hand tool is any tool that is used manually as opposed to using a motor. Hammers, pliers, wrenches, and screwdrivers are a few examples of different hand tools. Each of these has a varied usage depending on needs, and the majority are not interchangeable. These instruments are typically utilized in applications including building, plumbing, carpentry, gardening, agriculture, and vehicle repair. Investing in the proper equipment for the house will help finish projects quickly and economically. Additionally, it will be able to handle small problems that don't need a professional to fix them.

GCC Household Hand Tools Market

Segmental Information

GCC Household Hand Tools Market – By Product

Based on product, the GCC household hand tools market is segregated into cutting tools, measuring tools, taps & dies, and general tools. The general hand tools segment accounts for the largest market share. Tools, such as hammers, pliers, screwdrivers, wrenches, and others, are generally for general repair and maintenance. Furthermore, rising house ownership in GCC countries, particularly in Saudi Arabia and UAE, is anticipated to fuel the market demand for general tools during the forecast period.

Impact of COVID-19 on GCC Household Hand Tools Market

The COVID-19 pandemic outbreak had a mixed impact on the GCC household hand tools market. The market witnessed significant growth in the demand for household hand tools due to the unavailability of skilled labor for regular repair and maintenance of homes. However, since hand tools were flagged as non-essential items, the restrictions on its supply chain directly impacted the market growth. But the pandemic prompted industry players to shift towards online platforms to establish D2C channels and offer the convenience of doorstep delivery to their customers, which is anticipated to drive the GCC household hand tools market during the forecast period.

Competitive Landscape

Major players operating in the GCC household hand tools market include Stanley Black & Decker, Apex Tool Group, Klein Tools, Channellock, Great Wall Precision, JK Files (India) Limited, JETECH, Excelta Corporation, Sinotools Industrial, and Techtronic Industries. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the GCC Household Hand Tools Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the GCC Household Hand Tools Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.