Hand Tools

Hand Tools

Growth in the US hand tool market will average 1.7 percent annually through 2020, reaching $5.8 billion. Advances will be fueled by strong advances in construction expenditures and by continued growth in the motor vehicle park. In addition, ongoing interest in do-it-yourself activities will boost sales to the consumer market.

This report segments the US hand tool industry by product and market. Data is provided in million US dollars.

Hand tool products include:
Hand service tools
Edge tools
Handsaws
Other hand tools
Parts and attachments

Hand service tools will remain the largest of these through 2020, when they will comprise 56 percent of the market. Fastest growth will be for parts and attachments, due to ongoing strength in construction expenditures and growth in durable good output.

Major hand tool markets include:
Professional demand, including:
Construction
Automotive aftermarket
Industrial and other professional services
Consumer demand Market A

The professional market was the leading market in 2015, dominated by demand in construction applications and accounting for 58 percent of demand. The most rapid gains through 2020 are forecast for the construction market, fueled by ongoing strength in construction expenditures and housing starts.

Among the key distribution channels for power tools are:
Direct sales and distributors
Home centers
E-commerce

Direct sales and distributors, home centers, and other distribution channels comprised the three largest distribution channels in 2015, together accounting for 94.5 percent of sales. Going forward, E-commerce will see the strongest advances, albeit from a small base, primarily due to the pricing advantage that online sales generate and the increasing presence of home centers online.

The US hand tool industry includes nearly 1,000 companies, ranging from small, privately held firms to multinational corporations. This study includes sales data for industry participants such as Apex Tool Group, Channellock, Emerson Electric, Estwing Manufacturing, Great Neck Saw Manufacturers, Klein Tools, Pratt-Read Tools (IDEAL Industries) Snap-on, Stanley Black & Decker, and Techtronic Industries. In addition, the industry has seen a number of notable acquisitions and divestitures in recent years, such as the October 2016 sale of Newell Brands’ tools division to Stanley Black & Decker.
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