
Hand Tools Market - Global Outlook & Forecast 2022-2027
Description
Hand Tools Market - Global Outlook & Forecast 2022-2027
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Hand Tools Market Report
The hand tools market size was valued at USD 22.07 billion in 2021 and is expected to reach USD 28.74 billion by 2027, growing at a CAGR of 4.14% during the forecast period
Rapid industrialization and increasing applications in the household and commercial sectors are primarily driving the hand tools and accessories market. DIY (Do It Yourself) has seen enormous growth globally over the past decade. While the trend was earlier popular only in Western countries, it is now being rapidly adopted in APAC and Latin America. Some heavy tools such as demolition hammers are also used for repair and maintenance works in commercial and residential spaces. The DIY culture can be one of the major drivers for the household hand tools market in the coming years with a higher scope for penetration in growing economies.
The following factors are likely to contribute to the growth of the hand tools market-
Hand tools market is segmented on the basis of-
1. What is the estimated valuation for the global hand tools market by 2027?
2. Which tool holds the maximum market share of the Hand tools market?
3. What are the key trends in the hand tools market?
4. Who are the top players in the global hand tools industry?
5. What are the different types of mechanical hand tools market discussed in the report?
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Hand Tools Market Report
The hand tools market size was valued at USD 22.07 billion in 2021 and is expected to reach USD 28.74 billion by 2027, growing at a CAGR of 4.14% during the forecast period
Rapid industrialization and increasing applications in the household and commercial sectors are primarily driving the hand tools and accessories market. DIY (Do It Yourself) has seen enormous growth globally over the past decade. While the trend was earlier popular only in Western countries, it is now being rapidly adopted in APAC and Latin America. Some heavy tools such as demolition hammers are also used for repair and maintenance works in commercial and residential spaces. The DIY culture can be one of the major drivers for the household hand tools market in the coming years with a higher scope for penetration in growing economies.
The following factors are likely to contribute to the growth of the hand tools market-
- Rising Wood Construction
- Rising Home Renovation and DIY Activities
- Increasing Solar & Wind Energy Installations
- Rising Construction Opportunities in Developing Nations
- Mass Township Projects
- Low Cost & Unskilled Labor in Developing Economies
- The increasing demand for aircraft alongside expansion efforts in the aviation industry is expected to support the growth of aerospace fasteners and manual fastening tools during the forecast period.
- The DIY tool kits are gaining popularity in countries like India and China owing to the limited availability of skilled labor, which can be seen more in urban areas. This has driven the growth in the utilization of hand tools like chisels, hammers, and screwdrivers for domestic household activities, home improvement, repairs, woodwork, and gardening work.
- Mass township projects all over the world are also driving the demand for hand tools in the forecast period. For instance, Saudi Arabia announced the homeownership strategy which estimates 70% of the residents will have homes by 2030.
Hand tools market is segmented on the basis of-
- Tool Type
- End-User
- Geography
- Increasing requirements for screwdrivers in the consumer electronics industry is driving the market growth. A large number of small and medium manufacturers sell the product at a cheaper rate, so the bargaining power of buyers is very high. The demand for manual screwdrivers may be challenged by power-driven hand tools thus driving growth in the power tools market.
- New entrants in the market are focusing on the pocket and utility knives segments owing to their wide scope of applications. With high safety and comfortable handling, they are finding adoption in the DIY segment as well. Compact, efficient, and weightless pocketknives are in demand. Thus, vendors can use this opportunity to innovate for better product penetration.
- The industrial end-user segment was the largest segment in the global hand tools market in 2021 and this trend is likely to continue throughout the forecast period. This is majorly due to the construction industry. For instance, housing projects with 20 million affordable homes for the urban poor is expected to boost revenue in the construction sector of India thus driving the demand for mechanical hand tools market
- General Purpose Tools
- Wrenches
- Screwdrivers & Nut Drivers
- Pliers
- Hammers
- Riveters
- Clamps & Vises
- Wrecking Bars
- Ratchets & Sockets
- Cutting Tools
- Saws
- Chisel & Files
- Knives & Blades
- Cable & Wire Cutting Tools
- Layout & Measuring Tools
- Taps & Dies
- Industrial
- Construction
- Automotive
- Aerospace
- Electronics
- Energy
- Shipbuilding
- Others
- Commercial
- Residential
- APAC: APAC region consists of powerful developing nations with a majority working population. Tokyo Olympics will finally happen in the forecast period after being postponed because of a pandemic. The new infrastructure projects and upgrades are going to drive market growth. Even small nations like Singapore and Malaysia are also ramping up their infrastructural development. Singapore is known for its high-class construction facilities and Budget 2020 has announced plans for infrastructure projects.
- North America: The North American automotive sector manufactures the highest number of electric cars in the world due to the rising demand for eco-friendly products. The north American automotive sensors market is on the rise which will also propel the demand for the assembly of precision parts. This can further drive the market for precision hand tools like pliers, cutters, and wrenches.
- APAC
- China
- India
- Japan
- South Korea
- Australia
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
- The key players in the hand tools market are Stanley Black & Decker, Techtronic Industries Company, Snap-on, Apex Tool Group (ATG), and Emerson.
- Brands like Stanley Black & Decker are recognized for their industry-leading fastening solutions. The company acquired Consolidated Aerospace Manufacturing LLC (CAM), enabling better support for aerospace consumers.
- With the growth in DIY culture and the demand for more user-friendly tools, vendors are customizing their tools for home improvement activities.
- Stanley Black & Decker
- Techtronic Industries Company
- Snap-on
- Apex Tool Group (ATG)
- Emerson
- Robert Bosch GmbH
- Akar Tools Ltd
- Wera Tools
- Klein Tools
- JCBL India
- Channellock
- JK Files India
- Kennametal
- IDEAL Industries
- Gray Tools Canada
- Leatherman
- Ningbo Great Wall Precision Industrial Co., Ltd
- PILANA
- Wurth
- Tajima
- KNIPEX
- PHOENIX CONTACT
- Wiha Tools Ltd
- Ajay Group
- Mac Tools
- Stiletto Tools
- Vaughan Manufacturing
- Estwing
- Kobalt
- Daniels Manufacturing Company
- Lowell Corporation
- Bojo
- Honiton
1. What is the estimated valuation for the global hand tools market by 2027?
2. Which tool holds the maximum market share of the Hand tools market?
3. What are the key trends in the hand tools market?
4. Who are the top players in the global hand tools industry?
5. What are the different types of mechanical hand tools market discussed in the report?
Table of Contents
398 Pages
- 1 Research Methodology
- 2 Research Objectives
- 3 Research Process
- 4 Scope & Coverage
- 4.1 Market Definition
- 4.1.1 Inclusions
- 4.1.2 Exclusions
- 4.2 Base Year
- 4.3 Scope of The Study
- 4.3.1 Market Segmentation by Tool Type
- 4.3.2 Market Segmentation by End-User
- 4.3.3 Market Segmentation by Geography
- 5 Report Assumptions & Caveats
- 5.1 Key Caveats
- 5.2 Currency Conversion
- 5.3 Market Derivation
- 6 Market at a Glance
- 7 Introduction
- 7.1 Overview
- 7.1.1 Industrial End-User Outlook
- 7.1.2 Shift Toward Urbanization Propelling Construction And Manufacturing Demand
- 7.1.3 Key Insights
- 7.1.4 Parameters Impacting Market Growth
- 7.2 Supplier & Raw Material Snapshot
- 7.3 Construction Insights
- 7.3.1 Residential Construction
- 7.3.2 Commercial Construction
- 7.3.3 Public Infrastructural Construction
- 7.4 Us-China Trade War
- 7.5 FAQ
- 7.5.1 Value Propositions to Focus on Product Developments
- 7.5.2 Major Vendors in Hand Tools Market
- 7.5.3 Immediate Threat to Hand Tools Market
- 7.5.4 Regions Experiencing Exceptional Demand & High Growth
- 7.6 IMPACT OF COVID-19
- 7.6.1 Impact of COVID-19: Supply Side
- 7.6.2 Impact of COVID-19: Demand Side
- 8 MARKET OPPORTUNITIES & TRENDS
- 8.1 Increasing Growth in Wood Construction
- 8.1.1 Europe Wood Industry Outlook
- 8.2 Increased Home Renovations and DIY Activities
- 8.3 Increasing Wind & Solar Energy Installations
- 8.4 Growing Construction Opportunities in Developing Countries
- 9 MARKET GROWTH ENABLERS
- 9.1 Increasing Infrastructural Construction
- 9.2 Growing Demand from Construction Industry
- 9.2.1 Rising Construction Activities in Commercial Real Estates
- 9.3 Mass Township Projects
- 9.4 Low Cost and Unskilled Labor In Developing Economies
- 9.5 Automotive Industry Driving Market Growth
- 9.6 Growing Demand for Fasteners
- 9.7 High Demand in APAC Manufacturing Sector
- 10 MARKET RESTRAINTS
- 10.1 Rise in Automation
- 10.2 Fluctuation in Raw Material Prices
- 10.3 Turmoil in Politicial & Trade Relationships
- 10.4 Slow Economic Growth in 2020
- 10.5 End-User Variability
- 10.6 Tool Safety & Risk Exposure
- 11 MARKET LANDSCAPE
- 11.1 Market Overview
- 11.2 Market Size & Forecast
- 11.3 Five Forces Analysis
- 11.3.1 Threat Of New Entrants
- 11.3.2 Bargaining Power Of Suppliers
- 11.3.3 Bargaining Power Of Buyers
- 11.3.4 Threat Of Substitutes
- 11.3.5 Competitive Rivalry
- 12 TOOL TYPE
- 12.1 Market Snapshot & Growth Engine
- 12.2 Market Overview
- 13 GENERAL PURPOSE TOOLS
- 13.1 Market Snapshot & Growth Engine
- 13.2 Market Overview
- 13.2.1 Market Size & Forecast
- 13.2.2 Market by Geography
- 13.3 WRENCHES
- 13.3.1 Market Size & Forecast
- 13.3.2 Market by Geography
- 13.4 SCREWDRIVERS & NUTDRIVERS
- 13.4.1 Market Size & Forecast
- 13.4.2 Market by Geography
- 13.5 PLIERS
- 13.5.1 Market Size & Forecast
- 13.5.2 Market by Geography
- 13.6 HAMMERS
- 13.6.1 Market Size & Forecast
- 13.6.2 Market by Geography
- 13.7 RIVETERS
- 13.7.1 Market Size & Forecast
- 13.7.2 Market by Geography
- 13.8 CLAMPS & VISES
- 13.8.1 Market Size & Forecast
- 13.8.2 Market by Geography
- 13.9 WRECKING BARS
- 13.9.1 Market Size & Forecast
- 13.9.2 Market by Geography
- 13.10 RACHETS & SOCKETS
- 13.10.1 Market Size & Forecast
- 13.10.2 Market by Geography
- 14 CUTTING TOOLS
- 14.1 MARKET SNAPSHOT & GROWTH ENGINE
- 14.2 MARKET OVERVIEW
- 14.2.1 Market Size & Forecast
- 14.2.2 Market by Geography
- 14.3 CHISEL & FILES
- 14.3.1 Market Size & Forecast
- 14.3.2 Market by Geography
- 14.4 SAWS
- 14.4.1 Market Size & Forecast
- 14.4.2 Market by Geography
- 14.5 KNIVES & BLADES
- 14.5.1 Market Size & Forecast
- 14.5.2 Market by Geography
- 14.6 CABLE & WIRE CUTTING TOOLS
- 14.6.1 Market Size & Forecast
- 14.6.2 Market by Geography
- 15 LAYOUT & MEASURING TOOLS
- 15.1 MARKET OVERVIEW
- 15.1.1 Market Size & Forecast
- 15.1.2 Market by Geography
- 16 TAPS & DIES
- 16.1 MARKET OVERVIEW
- 16.1.1 Market Size & Forecast
- 16.1.2 Market by Geography
- 17 END-USER
- 17.1 Market Snapshot & Growth Engine
- 17.2 Market Overview
- 18 INDUSTRIAL
- 18.1 Market Snapshot & Growth Engine
- 18.2 Market Overview
- 18.2.1 Market Size & Forecast
- 18.2.2 Market by Geography
- 18.3 CONSTRUCTION
- 18.3.1 Market Size & Forecast
- 18.3.2 Impact of COVID-19
- 18.3.3 Market by Geography
- 18.4 AUTOMOTIVE
- 18.4.1 Market Size & Forecast
- 18.4.2 Impact of COVID-19
- 18.4.3 Key Insights
- 18.4.4 Market by Geography
- 18.5 AEROSPACE
- 18.5.1 Market Size & Forecast
- 18.5.2 Impact of COVID-19
- 18.5.3 Market by Geography
- 18.6 ELECTRONICS
- 18.6.1 Market Size & Forecast
- 18.6.2 Impact of COVID-19
- 18.6.3 Market by Geography
- 18.7 ENERGY
- 18.7.1 Market Size & Forecast
- 18.7.2 Impact of COVID-19
- 18.7.3 Market by Geography
- 18.8 SHIPBUILDING
- 18.8.1 Market Size & Forecast
- 18.8.2 Impact of COVID-19
- 18.8.3 Market by Geography
- 18.9 OTHER Hand Tools
- 18.9.1 Market Size & Forecast
- 18.9.2 Market by Geography
- 19 COMMERCIAL
- 19.1 Market Overview
- 19.1.1 Market Size & Forecast
- 19.1.2 Market by Geography
- 20 RESIDENTIAL
- 20.1 Market Overview
- 20.1.1 Market Size & Forecast
- 20.1.2 Market by Geography
- 21 GEOGRAPHY
- 21.1 Market Snapshot & Growth Engine
- 21.2 Geographic Overview
- 22 APAC
- 22.1 Market Overview
- 22.2 Market Size & Forecast
- 22.3 TOOL TYPE
- 22.3.1 Market Size & Forecast
- 22.4 GENERAL PURPOSE TOOLS
- 22.4.1 Market Size & Forecast
- 22.5 CUTTING TOOLS
- 22.5.1 Market Size & Forecast
- 22.6 END-USER
- 22.6.1 Market Size & Forecast
- 22.7 INDUSTRIAL END-USERS
- 22.7.1 Market Size & Forecast
- 22.8 KEY COUNTRIES
- 22.8.1 China: Market Size & Forecast
- 22.8.2 India: Market Size & Forecast
- 22.8.3 Japan: Market Size & Forecast
- 22.8.4 South Korea: Market Size & Forecast
- 22.8.5 Australia: Market Size & Forecast
- 23 NORTH AMERICA
- 23.1 Market Overview
- 23.2 Market Size & Forecast
- 23.3 TOOL TYPE
- 23.3.1 Market Size & Forecast
- 23.4 GENERAL PURPOSE TOOLS
- 23.4.1 Market Size & Forecast
- 23.5 CUTTING TOOLS
- 23.5.1 Market Size & Forecast
- 23.6 END-USER
- 23.6.1 Market Size & Forecast
- 23.7 INDUSTRIAL END-USERS
- 23.7.1 Market Size & Forecast
- 23.8 KEY COUNTRIES
- 23.8.1 US: Market Size & Forecast
- 23.8.2 Canada: Market Size & Forecast
- 24 EUROPE
- 24.1 Market Overview
- 24.2 Market Size & Forecast
- 24.3 TOOL TYPE
- 24.3.1 Market Size & Forecast
- 24.4 GENERAL PURPOSE TOOLS
- 24.4.1 Market Size & Forecast
- 24.5 CUTTING TOOLS
- 24.5.1 Market Size & Forecast
- 24.6 END-USER
- 24.6.1 Market Size & Forecast
- 24.7 INDUSTRIAL END-USERS
- 24.7.1 Market Size & Forecast
- 24.8 KEY COUNTRIES
- 24.8.1 UK: Market Size & Forecast
- 24.8.2 Germany: Market Size & Forecast
- 24.8.3 France: Market Size & Forecast
- 24.8.4 Italy: Market Size & Forecast
- 24.8.5 Spain: Market Size & Forecast
- 25 LATIN AMERICA
- 25.1 Market Overview
- 25.2 Market Size & Forecast
- 25.3 TOOL TYPE
- 25.3.1 Market Size & Forecast
- 25.4 GENERAL PURPOSE TOOLS
- 25.4.1 Market Size & Forecast
- 25.5 CUTTING TOOLS
- 25.5.1 Market Size & Forecast
- 25.6 END-USER
- 25.6.1 Market Size & Forecast
- 25.7 INDUSTRIAL END-USERS
- 25.7.1 Market Size & Forecast
- 25.8 KEY COUNTRIES
- 25.8.1 Brazil: Market Size & Forecast
- 25.8.2 Mexico: Market Size & Forecast
- 26 MIDDLE EAST & AFRICA
- 26.1 Market Overview
- 26.2 Market Size & Forecast
- 26.3 TOOL TYPE
- 26.3.1 Market Size & Forecast
- 26.4 GENERAL PURPOSE TOOLS
- 26.4.1 Market Size & Forecast
- 26.5 CUTTING TOOLS
- 26.5.1 Market Size & Forecast
- 26.6 END-USER
- 26.6.1 Market Size & Forecast
- 26.7 INDUSTRIAL END-USERS
- 26.7.1 Market Size & Forecast
- 26.8 KEY COUNTRIES
- 26.8.1 South Africa: Market Size & Forecast
- 26.8.2 Saudi Arabia: Market Size & Forecast
- 26.8.3 UAE: Market Size & Forecast
- 26.8.4 Turkey: Market Size & Forecast
- 27 COMPETITIVE LANDSCAPE
- 27.1 Competition Overview
- 28 KEY COMPANY PROFILES
- 28.1 STANLEY BLACK & DECKER
- 28.1.1 Business Overview
- 28.1.2 Product Offerings
- 28.1.3 Key Strategies
- 28.1.4 Key Strengths
- 28.1.5 Key Opportunities
- 28.2 TECHTRONIC INDUSTRIES COMPANY
- 28.2.1 Business Overview
- 28.2.2 Product Offerings
- 28.2.3 Key Strategies
- 28.2.4 Key Strengths
- 28.2.5 Key Opportunities
- 28.3 SNAP-ON
- 28.3.1 Business Overview
- 28.3.2 Product Offerings
- 28.3.3 Key Strategies
- 28.3.4 Key Strengths
- 28.3.5 Key Opportunities
- 28.4 APEX TOOL GROUP
- 28.4.1 Business Overview
- 28.4.2 Product Offerings
- 28.4.3 Key Strategies
- 28.4.4 Key Strengths
- 28.4.5 Key Opportunities
- 28.5 EMERSON
- 28.5.1 Business Overview
- 28.5.2 Product Offerings
- 28.5.3 Key Strategies
- 28.5.4 Key Strengths
- 28.5.5 Key Opportunities
- 29 OTHER PROMINENT VENDORS
- 29.1 ROBERT BOSCH GMBH
- 29.1.1 Business Overview
- 29.1.2 Product Offerings
- 29.2 AKAR TOOLS LTD
- 29.2.1 Business Overview
- 29.2.2 Product Offerings
- 29.3 WERA TOOLS
- 29.3.1 Business Overview
- 29.3.2 Product Offerings
- 29.4 KLEIN TOOLS
- 29.4.1 Business Overview
- 29.4.2 Product Offerings
- 29.5 JCBL INDIA
- 29.5.1 Business Overview
- 29.5.2 Product Offerings
- 29.6 CHANNELLOCK
- 29.6.1 Business Overview
- 29.6.2 Product Offerings
- 29.7 JK FILES INDIA
- 29.7.1 Business Overview
- 29.7.2 Product Offerings
- 29.8 KENNAMETAL
- 29.8.1 Business Overview
- 29.8.2 Product Offerings
- 29.9 IDEAL INDUSTRIES
- 29.9.1 Business Overview
- 29.9.2 Product Offerings
- 29.10 GRAY TOOLS CANADA
- 29.10.1 Business Overview
- 29.10.2 Product Offerings
- 29.11 LEATHERMAN
- 29.11.1 Business Overview
- 29.11.2 Product Offerings
- 29.12 NINGBO GREAT WALL PRECISION INDUSTRIAL CO.
- 29.12.1 Business Overview
- 29.12.2 Product Offerings
- 29.13 PILANA
- 29.13.1 Business Overview
- 29.13.2 Product Offerings
- 29.14 WURTH
- 29.14.1 Business Overview
- 29.14.2 Product Offerings
- 29.15 TAJIMA
- 29.15.1 Business Overview
- 29.15.2 Product Offerings
- 29.16 KNIPEX
- 29.16.1 Business Overview
- 29.16.2 Product Offerings
- 29.17 PHOENIX CONTACT
- 29.17.1 Business Overview
- 29.17.2 Product Offerings
- 29.18 WIHA TOOLS
- 29.18.1 Business Overview
- 29.18.2 Product Offerings
- 29.19 AJAY GROUP
- 29.19.1 Business Overview
- 29.19.2 Product Offerings
- 29.20 MAC TOOLS
- 29.20.1 Business Overview
- 29.20.2 Product Offerings
- 29.21 STILETTO
- 29.21.1 Business Overview
- 29.21.2 Product Offerings
- 29.22 VAUGHAN MANUFACTURING
- 29.22.1 Business Overview
- 29.22.2 Product Offerings
- 29.23 ESTWING
- 29.23.1 Business Overview
- 29.23.2 Product Offerings
- 29.24 KOBALT
- 29.24.1 Business Overview
- 29.24.2 Product Offerings
- 29.25 DANIELS MANUFACTURING CORPORATION
- 29.25.1 Business Overview
- 29.25.2 Product Offerings
- 29.26 LOWELL CORPORATION
- 29.26.1 Business Overview
- 29.26.2 Product Offerings
- 29.27 BOJO
- 29.27.1 Business Overview
- 29.27.2 Product Offerings
- 29.28 HONITON
- 29.28.1 Business Overview
- 29.28.2 Product Offerings
- 30 REPORT SUMMARY
- 30.1 Key Takeaways
- 30.2 Strategic Recommendations
- 31 QUANTITATIVE SUMMARY
- 31.1 Market By Geography
- 32 APAC
- 32.1 TOOL TYPE
- 32.1.1 Market Size & Forecast
- 32.2 GENERAL PURPOSE TOOLS
- 32.2.1 Market Size & Forecast
- 32.3 CUTTING TOOLS
- 32.3.1 Market Size & Forecast
- 32.4 END-USER
- 32.4.1 Market Size & Forecast
- 32.5 INDUSTRIAL END-USERS
- 32.5.1 Market Size & Forecast
- 33 NORTH AMERICA
- 33.1 TOOL TYPE
- 33.1.1 Market Size & Forecast
- 33.2 GENERAL PURPOSE TOOLS
- 33.2.1 Market Size & Forecast
- 33.3 CUTTING TOOLS
- 33.3.1 Market Size & Forecast
- 33.4 END-USER
- 33.4.1 Market Size & Forecast
- 33.5 INDUSTRIAL END-USERS
- 33.5.1 Market Size & Forecast
- 34 EUROPE
- 34.1 TOOL TYPE
- 34.1.1 Market Size & Forecast
- 34.2 GENERAL PURPOSE TOOLS
- 34.2.1 Market Size & Forecast
- 34.3 CUTTING TOOLS
- 34.3.1 Market Size & Forecast
- 34.4 END-USER
- 34.4.1 Market Size & Forecast
- 34.5 INDUSTRIAL END-USERS
- 34.5.1 Market Size & Forecast
- 35 LATIN AMERICA
- 35.1 TOOL TYPE
- 35.1.1 Market Size & Forecast
- 35.2 GENERAL PURPOSE TOOLS
- 35.2.1 Market Size & Forecast
- 35.3 CUTTING TOOLS
- 35.3.1 Market Size & Forecast
- 35.4 END-USER
- 35.4.1 Market Size & Forecast
- 35.5 INDUSTRIAL END-USERS
- 35.5.1 Market Size & Forecast
- 36 MIDDLE EAST & AFRICA
- 36.1 TOOL TYPE
- 36.1.1 Market Size & Forecast
- 36.2 GENERAL PURPOSE TOOLS
- 36.2.1 Market Size & Forecast
- 36.3 CUTTING TOOLS
- 36.3.1 Market Size & Forecast
- 36.4 END-USER
- 36.4.1 Market Size & Forecast
- 36.5 INDUSTRIAL END-USERS
- 36.5.1 Market Size & Forecast
- 37 APPENDIX
- 37.1 Abbreviations
Pricing
Currency Rates
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