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Hand Tools Market by Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2027

  • ID: 5125526
  • Report
  • May 2020
  • Region: Global
  • 272 Pages
  • Allied Analytics LLP

FEATURED COMPANIES

  • Akar Tools Limited
  • Apex Tool Group
  • Channellock Inc.
  • Emerson Electric Co
  • JCBL India
  • Klein Tools Inc.
The global hand tools market was valued at $22,200.0 million in 2019, and is projected to reach $30,381.0 million by 2027, registering a CAGR of 4.1% from 2020 to 2027. The hand tools are tools that usually do not use electricity and do not need any motor to operate. The hand tools include hammers, screwdrivers, wrenches, cutters, saw, knives, scissors, clamps, and others. These tools are basic necessities to carry out the smallest of tasks such as plumbing, drilling, cutting, removing, and tightening of screw & nuts.



The factors such as rise in recovery in the construction industry and growth in industrialization and urbanization drive the growth of the market. In addition, urban population is projected to a rise by 2050; thereby, fueling the demand for hand tools for residential application in the near future. Furthermore, A surge in standard of living, particularly in the developing countries empowers DIY culture, which drives the market growth. However, growth in popularity of battery power tools and volatile economic conditions in Latin America are expected to hamper the market growth.

Furthermore, the growth in machinery and equipment manufacturing sectors around the globe offers lucrative growth opportunities for the market players during the forecast period.

The global hand tools market is classified into type, end user, distribution channel, and region. By type, the market is segmented into wrench, plier, screw drivers, hammers, cable cutter, and others. By End User, the market is categorized into DIY, professional, and industrial. By distribution channel, the market is bifurcated into retail and online.

By Region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the global market during the analysis period due to growth in urbanization and an increase in infrastructure investments.

COMPETITION ANALYSIS

The key companies profiled in the report include Akar Tools Limited, Snap-On Incorporated., Stanley Black and Decker, Techtronic Industries Co. Ltd., Wera Tools, Apex Tool Group, Klein Tools Inc., Channellock, Inc., JCBL India, and Emerson Electric Co.

KEY BENEFITS FOR STAKEHOLDERS
  • The report provides an extensive analysis of the current and emerging hand tools market trends and dynamics.
  • In-depth market analysis is conducted by constructing market estimations for the key market segments between 2019 and 2027.
  • Extensive analysis of the hand tools market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
  • A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
  • The global hand tools market forecast analysis from 2020 to 2027 is included in the report.
  • The key market players within hand tools market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the hand tools industry.

GLOBAL HAND TOOLS MARKET SEGMENTS

BY TYPE
  • Wrench
  • Plier
  • Screw Drivers
  • Hammers
  • Cable Cutter
  • Others

By End User
  • DIY
  • Professional
  • Industrial

BY DISTRIBUTION CHANNEL
  • Retail
  • Online

By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

KEY PLAYERS
  • Akar Tools Limited
  • Snap-On Incorporated.
  • Stanley Black and Decker
  • Techtronic Industries Co. Ltd.
  • Wera Tools
  • Apex Tool Group
  • Klein Tools Inc.
  • Channellock, Inc.
  • JCBL India
  • Emerson Electric Co.
Frequently Asked Questions about the Global Hand Tools Market

What is the estimated value of the Global Hand Tools Market?

The Global Hand Tools Market was estimated to be valued at $22200.0 million in 2019.

What is the growth rate of the Global Hand Tools Market?

The growth rate of the Global Hand Tools Market is 4.0%, with an estimated value of $30381.0 million by 2027.

What is the forecasted size of the Global Hand Tools Market?

The Global Hand Tools Market is estimated to be worth $30381.0 million by 2027.

Who are the key companies in the Global Hand Tools Market?

Key companies in the Global Hand Tools Market include Akar Tools Limited, Snap, On Incorporated., Stanley Black and Decker, Techtronic Industries Co. Ltd., Wera Tools, Apex Tool Group, Klein Tools Inc. and JCBL India.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Akar Tools Limited
  • Apex Tool Group
  • Channellock Inc.
  • Emerson Electric Co
  • JCBL India
  • Klein Tools Inc.

Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
Chapter 2: Executive Summary
2.1. Key Findings of the Study
2.2. CXO Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1.1. Top Impacting Factors
3.2.1.2. Top Investment Pockets
3.3. Porter's Five Forces Analysis
3.3.1. Low to Moderate Bargaining Power of Suppliers
3.3.2. Low to Moderate Bargaining Power of Buyers
3.3.3. Low to Moderate Threat of Substitutes
3.3.4. Moderate to High Intensity of Rivalry
3.3.5. Moderate to High Threat of Substitution
3.4. Value Chain Analysis
3.5. Industry Pain Point Analysis
3.6. Market Dynamics
3.6.1. Drivers
3.6.1.1. Increase in Adoption of Hand Tools in the Construction Industry
3.6.1.2. Industrialization Coupled With Increase in Infrastructural Spending
3.6.1.3. High Initial Costs of the Power Tools
3.6.2. Restraints
3.6.2.1. Growth in Popularity of Battery Power Tools
3.6.2.2. Volatile Economic Conditions in Latin America
3.6.3. Opportunity
3.6.3.1. Growth in Machinery and Equipment Manufacturing Sectors
Chapter 4: Global Hand Tools Market, by Type
4.1. Overview
4.1.1. Market Size and Forecast, by Type
4.2. Wrench
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, by Region
4.2.3. Market Analysis by Country
4.3. Plier
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Analysis by Country
4.4. Screw Drivers
4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast, by Region
4.4.3. Market Analysis by Country
4.5. Hammers
4.5.1. Key Market Trends, Growth Factors, and Opportunities
4.5.2. Market Size and Forecast, by Region
4.5.3. Market Analysis by Country
4.6. Cable Cutter
4.6.1. Key Market Trends, Growth Factors, and Opportunities
4.6.2. Market Size and Forecast, by Region
4.6.3. Market Analysis by Country
4.7. Others
4.7.1. Key Market Trends, Growth Factors, and Opportunities
4.7.2. Market Size and Forecast, by Region
4.7.3. Market Analysis by Country
Chapter 5: Global Hand Tools Market, by End-user
5.1. Overview
5.1.1. Market Size and Forecast, by End-user
5.2. Diy
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast, by Region
5.2.3. Market Analysis by Country
5.3. Professional
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast, by Region
5.3.3. Market Analysis by Country
5.4. Industrial
5.4.1. Key Market Trends, Growth Factors, and Opportunities
5.4.2. Market Size and Forecast, by Region
5.4.3. Market Analysis by Country
Chapter 6: Global Hand Tools Market, by Distribution Channel
6.1. Overview
6.1.1. Market Size and Forecast, by Distribution Channel
6.2. Retail109
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast, by Region
6.2.3. Market Analysis by Country
6.3. Online113
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast, by Region
6.3.3. Market Analysis by Country
Chapter 7: Hand Tools Market, by Region
7.1. Overview
7.1.1. Market Size and Forecast, by Region
7.2. North America
7.2.1. Key Market Trends and Opportunities
7.2.2. Market Size and Forecast, by Type
7.2.2.1.1. North America Market Size and Forecast, by End-user
7.2.3. Market Size and Forecast, by Distribution Channel
7.2.4. Market Analysis by Country
7.2.4.1. U. S.
7.2.4.2. U. S. Market Size and Forecast, by Type
7.2.4.2.1. U. S. Market Size and Forecast, by End-user
7.2.4.3. Market Size and Forecast, by Distribution Channel
7.2.4.4. Canada
7.2.4.5. Canada Market Size and Forecast, by Type
7.2.4.5.1. Canada Market Size and Forecast, by End-user
7.2.4.6. Canada Market Size and Forecast, by Distribution Channel
7.2.4.7. Mexico
7.2.4.7.1. Mexico Market Size and Forecast, by Type
7.2.4.7.2. Mexico Market Size and Forecast, by End-user
7.2.4.7.2.1. Mexico Market Size and Forecast, by Distribution Channel
7.3. Europe
7.3.1. Key Market Trends, Growth Factors and Opportunities
7.3.2. Market Size and Forecast, by Type
7.3.2.1.1. Europe Market Size and Forecast, by End-user
7.3.3. Europe Market Size and Forecast, by Distribution Channel
7.3.4. Europe Market Size and Forecast, by Country
7.3.4.1. Germany
7.3.4.1.1. Germany Market Size and Forecast, by Type
7.3.4.1.2. Germany Market Size and Forecast, by End-user
7.3.4.1.3. Germany Market Size and Forecast, by Distribution Channel
7.3.4.2. France
7.3.4.2.1. France Market Size and Forecast, by Type
7.3.4.2.2. France Market Size and Forecast, by End-user
7.3.4.2.3. France Market Size and Forecast, by Distribution Channel
7.3.4.3. UK
7.3.4.3.1. UK Market Size and Forecast, by Type
7.3.4.3.2. UK Market Size and Forecast, by End-user
7.3.4.3.3. Market Size and Forecast, by Distribution Channel
7.3.4.4. Italy
7.3.4.4.1. Italy Market Size and Forecast, by Type
7.3.4.4.2. Italy Market Size and Forecast, by End-user
7.3.4.4.3. Market Size and Forecast, by Distribution Channel
7.3.4.5. Rest of Europe
7.3.4.5.1. Rest of Europe Market Size and Forecast, by Type
7.3.4.5.2. Rest of Europe Market Size and Forecast, by End-user
7.3.4.5.3. Rest of Europe Market Size and Forecast, by Distribution Channel
7.4. Asia-Pacific
7.4.1. Key Market Trends, Growth Factors and Opportunities
7.4.2. Market Size and Forecast, by Type
7.4.2.1.1. Asia-Pacific Market Size and Forecast, by End-user
7.4.3. Market Size and Forecast, by Distribution Channel
7.4.4. Market Size and Forecast, by Country
7.4.4.1. China
7.4.4.1.1. China Market Size and Forecast, by Type
7.4.4.1.2. China Market Size and Forecast, by End-user
7.4.4.1.3. China Market Size and Forecast, by Distribution Channel
7.4.4.2. India
7.4.4.2.1. India Market Size and Forecast, by Type
7.4.4.2.2. India Market Size and Forecast, by End-user
7.4.4.2.3. India Market Size and Forecast, by Distribution Channel
7.4.4.3. Japan178
7.4.4.3.1. Japan Market Size and Forecast, by Type
7.4.4.3.2. Japan Market Size and Forecast, by End-user
7.4.4.3.3. Japan Market Size and Forecast, by Distribution Channel
7.4.4.4. South Korea
7.4.4.4.1. South Korea Market Size and Forecast, by Type
7.4.4.4.2. South Korea Market Size and Forecast, by End-user
7.4.4.4.3. South Korea Market Size and Forecast, by Distribution Channel
7.4.4.5. Rest of Asia-Pacific
7.4.4.5.1. Rest of Asia-Pacific Market Size and Forecast, by Type
7.4.4.5.2. Rest of Asia-Pacific Market Size and Forecast, by End-user
7.4.4.5.3. Rest of Asia-Pacific Market Size and Forecast, by Distribution Channel
7.5. LAMEA
7.5.1. Key Market Trends, Growth Factors and Opportunities
7.5.2. Market Size and Forecast, by Type
7.5.2.1.1. LAMEA Market Size and Forecast, by End-user
7.5.3. Market Size and Forecast, by Distribution Channel
7.5.4. Market Size and Forecast, by Country
7.5.4.1. Latin America
7.5.4.1.1. Latin America Market Size and Forecast, by Type
7.5.4.1.2. Latin America Market Size and Forecast, by End-user
7.5.4.1.3. Latin America Market Size and Forecast, by Distribution Channel
7.5.4.2. Middle East
7.5.4.2.1. Middle East Market Size and Forecast, by Type
7.5.4.2.2. Middle East Market Size and Forecast, by End-user
7.5.4.2.3. Middle East Market Size and Forecast, by Distribution Channel
7.5.4.3. Africa
7.5.4.3.1. Africa Market Size and Forecast, by Type
7.5.4.3.2. Africa Market Size and Forecast, by End-user
7.5.4.3.3. Africa Market Size and Forecast, by Distribution Channel
Chapter 8: Competitive Landscape
8.1. Introduction
8.1.1. Market Player Positioning, 2019
8.2. Top Winning Strategies
Chapter 9: Company Profiles
9.1. Akar Tools Limited
9.1.1. Company Overview
9.1.2. Key Executive
9.1.3. Company Snapshot
9.1.4. Product Portfolio
9.1.5. Business Performance
9.2. Apex Tool Group
9.2.1. Company Overview
9.2.2. Key Executives
9.2.3. Company Snapshot
9.2.4. Operating Business Segments
9.2.5. Product Portfolio
9.2.6. Key Strategic Moves and Developments
9.3. Channellock, Inc
9.3.1. Company Overview
9.3.2. Key Executive
9.3.3. Company Snapshot
9.3.4. Operating Business Segments
9.3.5. Product Portfolio
9.3.6. Key Strategic Moves and Developments
9.4. Jcbl India
9.4.1. Company Overview
9.4.2. Key Executive
9.4.3. Company Snapshot
9.4.4. Operating Business Segments
9.4.5. Product Portfolio
9.5. Emerson Electric Co.
9.5.1. Company Overview
9.5.2. Key Executive
9.5.3. Company Snapshot
9.5.4. Operating Business Segments
9.5.5. Product Portfolio
9.5.6. R&D Expenditure
9.5.7. Business Performance
9.5.8. Key Strategic Moves and Developments
9.6. Klein Tools Inc.
9.6.1. Company Overview
9.6.2. Key Executive
9.6.3. Company Snapshot
9.6.4. Operating Business Segments
9.6.5. Product Portfolio
9.6.6. Key Strategic Moves and Developments
9.7. Snap-On Incorporated.
9.7.1. Company Overview
9.7.2. Key Executive
9.7.3. Company Snapshot
9.7.4. Operating Segments
9.7.5. Product Portfolio
9.7.6. R&D Expenditure
9.7.7. Business Performance
9.7.8. Key Strategic Moves and Developments
9.8. Stanley Black and Decker
9.8.1. Company Overview
9.8.2. Key Executive
9.8.3. Company Snapshot
9.8.4. Operating Business Segments
9.8.5. Product Portfolio
9.8.6. R&D Expenditure
9.8.7. Business Performance
9.8.8. Key Strategic Moves and Developments
9.9. Techtronic Industries Co. Ltd.
9.9.1. Company Overview
9.9.2. Key Executive
9.9.3. Company Snapshot
9.9.4. Operating Business Segments
9.9.5. Product Portfolio
9.9.6. R&D Expenditure
9.9.7. Business Performance
9.9.8. Key Strategic Moves and Developments
9.10. Wera Tools.
9.10.1. Company Overview
9.10.2. Key Executive
9.10.3. Company Snapshot
9.10.4. Product Portfolio
9.10.5. Key Strategic Moves and Developments
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Akar Tools Limited
  • Apex Tool Group
  • Channellock Inc.
  • Emerson Electric Co
  • JCBL India
  • Klein Tools Inc.
According to the report titled, 'Hand tools Market by Type, End-User, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2020-2027' the global hand tools market size was valued at $22.2 billion in 2019 and is expected to reach $30.3 billion by 2027, growing at a CAGR of 4.1% from 2020 to 2027.

Asia-Pacific generated the highest revenue in 2019, and is expected to grow the highest CAGR during the forecast period, followed by LAMEA and Europe. Hand tools products witnessed a higher demand, owing to its durability and availability at low cost. Moreover, advancements such as introduction of hand tools with insulated layers, which protects the user from electric shock and give handle grip for holding the tool, further strengthen market growth. In addition, surge in residential construction industry in the developing countries such as India, China, India, and Brazil is expected to increase the demand for hand tools such as hammers, screwdriver, cable cutters, and others. However, growing popularity of cordless power tools may hamper market growth. The impact of this factor is anticipated to reduce in future due to intense completion and new product launches by market players.

Major types of hand tools products included in the report are wrench, plier, screw drivers, hammers, cable cutter, and others. The wrench hand tools constituted the highest market share in 2019, owing to increased demand in automotive and manufacturing industry.

Hand tools are used in various applications such as residential, industrial, and commercial. Based on end user, the industrial segment accounted for the largest market share in the market in 2019. Increased adoption of hand tools in industrial applications, owing to its durability drives market growth. In addition, an increase in urbanization around the globe especially in developing regions has created the need for residential construction; thereby, boosting the demand for hand tools products.

Based on distribution channel, the retail segment accounted for the maximum hand tools market share in 2019, and the online segment is expected to maintain its lead throughout the forecast period. This is attributed to rise in income levels, rapid urbanization & industrialization, an increase in population and household income, as well as the governments continuing efforts to expand and upgrade the physical infrastructure.

Furthermore, the DIY activities include use of hand tools for any activity conducted by an unprofessional individual. This can be generalized as home improvement activities. Many major players in the market offer DIY hand tool kits, which include wrenches, saws, cutting tools, and other accessories. Furthermore, the DIY culture is more recognized in the developed countries such as the U.S., the UK, Germany, and others.

However, rise in trend of e-retail platforms in the developing nations has made it easy for the non-professional users to buy hand tools. Furthermore, the major players such as Stanley Black & Decker, Inc. and others have specialized hand tools portfolios for the non-professional users. These ranges include nearly all tooling operations required in home improvement activities. Such initiatives propel the popularity of hand tools used for home improvement activities; thereby, fueling the demand for hand tools.

Moreover, the energy industry is developing constantly, owing to increased dependency on renewable power sources such as wind energy, hydroelectricity, solar energy, and others. The construction of new power generation units requires high-capacity power tools for the installation, assembly, and maintenance. In this instance, the electric power tools serve this purpose by offering ease of use and high productivities. This factor is likely to bolster the demand for electric power tools in the energy industry.

The key players profiled in the hand tools market report include Akar Tools Limited, Snap-On Incorporated., Stanley Black and Decker, Techtronic Industries Co. Ltd., Wera Tools, Apex Tool Group, Klein Tools Inc., Channellock, Inc., JCBL India, and Emerson Electric Co.

Key Findings of the Study:

The report provides an extensive analysis of the current and emerging hand tools market trends and dynamics.
By type, the wrench segment dominated the market, in terms of revenue in 2019 and cable cutter segment is projected to grow at a CAGR of 6.1% during the forecast period.
By end user, the industrial segment registered highest growth in the hand tools market in 2019.
The Asia-Pacific region is projected to register the highest growth rate in the coming years.
The report provides an extensive analysis of the hand tools market trends and emerging opportunities of the market.
In-depth hand tools market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.
Note: Product cover images may vary from those shown
  • Akar Tools Limited
  • Snap-On Incorporated.
  • Stanley Black and Decker
  • Techtronic Industries Co. Ltd.
  • Wera Tools
  • Apex Tool Group
  • Klein Tools Inc.
  • Channellock Inc.
  • JCBL India
  • Emerson Electric Co
Note: Product cover images may vary from those shown

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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