Global Vise Grips Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Vise Grips Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Vice grips are locking pliers which can be locked into a clamped position. They have a handle which on one side has an adjustment bolt to adjust the width of the jaws. The other part of the handle has a lever which is used to release the clamping action of the plier.

Market Overview:

The latest research study on the global Vise Grips market finds that the global Vise Grips market reached a value of USD 165.5 million in 2022. It’s expected that the market will achieve USD 233.0 million by 2028, exhibiting a CAGR of 5.87% during the forecast period.

Market Drivers

Rising population levels, increasing middle-class consumers, large-scale infrastructure development and extensive urbanization in the region, building, public infrastructure, personalized living spaces, cars, and a growing variety of consumer products the demand for vise grips is increasing. In addition, increased purchasing power and GDP, and growth in the industrial and housing sectors, will boost the global vise grips market over the forecast period.

Trends

China's Vise Grips market accounted for the highest share in 2018, accounting for nearly 50% of total market output. This is due to China's high population base, low labor costs, and mature labor-intensive industrial chains. During the forecast period, total revenue of China's products continued to dominate the market, and the market scale increased steadily. Global Vise Grips market will achieve a compound annual growth rate of 3.62% from 2018 to 2025.
Demand for Vise Grips for processing applications in the Engineering & Construction industry is expected to continue to grow, driving market growth during the forecast period.
The growing conflict between the United States and China, the two largest economies on the planet, has become the greatest threat to global wealth. Trade growth is a key force driving global economic growth. However, the first major economy launched a trade war and a scientific and technological blockade against the second largest economy, leaving the world economy, which was originally in a difficult recovery, to face a crisis of recession.

Region Overview:

In global comparison, a significant portion of the revenue was generated in China (40.97% in 2022).

Company Overview:

IRWIN TOOLS is one of the major players operating in the Vise Grips market, holding a share of 18.77% in 2023.

IRWIN TOOLS

Irwin Industrial Tools is an American manufacturer and distributor of hand tools and power tool accessories. It is owned by Stanley Black & Decker. It is best known for producing Vise-Grip locking pliers.

Apex Tool Group

Apex Tool Group is an American supplier of hand tools and power tools. It was formed as a joint venture of Cooper Industries and Danaher by the merger of Cooper Tools and Danaher's Tools and Components segment.

Segmentation Overview:

Among different product types, Universal Grip Pliers segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Engineering & Construction segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Vise Grips market covered in Chapter 3:

Stanley Black & Decker (Exclude IRWIN. Include Proto, Stanley, FACOM, etc.)
Beta Utensili
TJM Design Corporation
Taparia Tools
Wiha Tools
Apex Tool Group
KNIPEX
Husky
TOYA
Northern Tool + Equipment
CR Laurence
GreatStar
Guangdong Power Lion Hardware
Huafeng Big Arrow
Milwaukee Tool
IRWIN TOOLS

In Chapter 4 and Chapter 14.2, on the basis of types, the Vise Grips market from 2018 to 2029 is primarily split into:

Universal Grip Pliers
Welding Grip Pliers
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Vise Grips market from 2018 to 2029 covers:

Automotive
Engineering & Construction
Shipping & Aerospace
Home Use
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)