Global Tools Market Report and Forecast 2025-2034

Global Tools Market Report and Forecast 2025-2034

Market Outlook

According to the report by Expert Market Research (EMR), the global tools market size reached approximately USD 44.63 billion in 2024. Aided by the increasing demand for tools across various sectors, including construction, automotive, and manufacturing, the market is projected to grow at a CAGR of 5.5% between 2025 and 2034, reaching a value of around USD 77.1 billion by 2034.

Tools are essential instruments used for a wide range of applications, from home repair and construction to industrial production and automotive maintenance. The tools sector encompasses a variety of products, including hand tools, power tools, and industrial tools. These tools are integral to the smooth functioning of various sectors, allowing users to perform tasks efficiently and safely.

The rising demand for infrastructure development, increasing DIY culture, and technological advancements in tool manufacturing are driving the tools market growth. Furthermore, the growing popularity of cordless power tools and smart tools, along with the increasing adoption of automation in industrial sectors, is significantly contributing to the market’s expansion.

One of the primary factors driving the market is the increasing demand for power tools. Power tools, including drills, saws, and grinders, have become indispensable in the construction, manufacturing, and automotive sectors due to their efficiency, precision, and time-saving capabilities. These tools are used for various applications such as cutting, drilling, fastening, and polishing, offering better results compared to traditional hand tools.

The growing demand for cordless power tools is also contributing to the tools market demand. Cordless tools offer enhanced portability, convenience, and ease of use, making them popular among both professionals and DIY enthusiasts. With advancements in battery technology, cordless tools are now more powerful and durable, providing longer run times and faster recharging. Lithium-ion batteries, in particular, have revolutionised the power tools market by offering high energy density, lightweight designs, and extended lifespan.

Moreover, the increasing demand for electric vehicles (EVs) and the expansion of the renewable energy sector have further fuelled the growth of power tools. The construction of electric vehicle charging stations, solar panel installations, and wind farms requires the use of advanced power tools, creating new opportunities for the market. As various sectors continue to adopt sustainable and eco-friendly practices, the demand for tools that facilitate efficient installation and maintenance of renewable energy systems is expected to rise.

As per the tools market analysis, the market is also benefiting from the growing DIY (do-it-yourself) culture and the increasing popularity of home improvement projects. DIY activities have gained significant traction in recent years, particularly among younger generations who prefer to take on home repair, renovation, and crafting projects themselves. This trend has been further accelerated by the COVID-19 pandemic, as people spent more time at home and sought out productive and creative ways to enhance their living spaces.

DIY enthusiasts require a wide range of tools, including hand tools, power tools, and gardening tools, to complete their projects. As a result, the demand for affordable, easy-to-use, and versatile tools has surged, particularly in developed markets such as North America and Europe. Retailers and manufacturers are capitalising on this trend by offering tool kits, instructional materials, and online tutorials aimed at DIY users, further boosting the market’s growth.

In addition to DIY projects, the rising interest in home improvement and remodelling is contributing to the demand for tools. Homeowners are increasingly investing in upgrading their homes, kitchens, and outdoor spaces, driving the need for specialised tools and equipment. The growing trend of sustainable and eco-friendly building materials is also creating opportunities for tools that cater to green construction practices.

One of the notable tools market trends is the growing technological advancements. The integration of smart technology, automation, and digitalisation has led to the development of smart tools that offer enhanced performance, safety, and user experience. These tools are equipped with sensors, wireless connectivity, and data analytics capabilities, allowing users to monitor tool performance, track usage patterns, and optimise productivity.

Smart tools are particularly gaining popularity in industrial applications, where precision and efficiency are critical. In the manufacturing and construction sectors, smart tools are used to ensure accurate measurements, reduce errors, and improve workflow efficiency. For instance, torque wrenches with digital displays provide real-time feedback on torque levels, ensuring precise fastening and reducing the risk of over-tightening or under-tightening.

Market Segmentation

The global tools market can be divided based on product, application, and region.

Market Breakup by Product

• Power Tools
• Hand Tools

Market Breakup by Application

• Automotive
• Oil and Gas
• Rail
• Aerospace and Defence
• Construction
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global tools market. Some of the major players explored in the report by Expert Market Research are as follows:

• Emerson Electric Co.
• Stanley Black & Decker Inc.
• Robert Bosch GmbH
• Snap-On Inc.
• Hilti Corp.
• Apex Tool Group
• Makita Corporation
• Koki Holdings Co., Ltd.
• Husqvarna AB
• Bully Tools, Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.