Global Hand Tools Market 2023-2027
The hand tools market is forecasted to grow by USD 2362.42 million during 2022-2027, accelerating at a CAGR of 4.36% during the forecast period. The report on the hand tools market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by huge demand of hand tools from developing economies, growing popularity of DIY activities, and growing construction market.
Technavio's hand tools market is segmented as below:
By End-user
By Application
- General-purpose
- Metal cutting
- Taps and dies and others
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the introduction of ergonomically designed hand tools as one of the prime reasons driving the hand tools market growth during the next few years. Also, increasing demand through online platforms and increased merger and acquisition (M and A) activities and strategic alliances will lead to sizable demand in the market.
The report on the hand tools market covers the following areas:
- Hand tools market sizing
- Hand tools market forecast
- Hand tools market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hand tools market vendors that include Apex Tool Group LLC, Channellock Inc., Crossman Tool Co. Ltd., Emerson Electric Co., Excelta Corp., IDEAL Industries Inc, JCBLGroup, JPW Industries Inc., Kennametal Inc., Klein Tools Inc., KNIPEX Werk C. Gustav Putsch KG, Kyoto Tool Co. Ltd, Raymond Trade Tools, Snap On Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Truper Holding SA de CV, Wiha Group GmbH, Akar Auto Industries Ltd., and BHT Tool GmbH. Also, the hand tools market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.