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Needle Nose Pliers Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 – 2032

Publisher Global Market Insights
Published Nov 27, 2024
Length 220 Pages
SKU # GMI19504105

Description

Needle Nose Pliers Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 – 2032


The Global Needle Nose Pliers Market reached USD 248.5 million in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2032. The market's steady expansion is driven by rising demand for hand tools, the growth of global manufacturing industries, and the increasing popularity of DIY and crafting activities.

The surge in consumer electronics production and the growing adoption of gadgets are further fueling market growth. Additionally, the rise in construction projects and home improvement activities worldwide has amplified the use of needle nose pliers across both professional and DIY applications. The manufacturing sector's expansion in the Asia-Pacific region, including countries like China, India, and Southeast Asia, is also a key contributor to the market's development.

By product type, the market is divided into straight nose and bent nose pliers. The straight nose segment accounted for USD 189.2 million in revenue in 2023 and is forecasted to grow at a CAGR of 3.2% over 2024-2032. These pliers, with their straight-line jaw design, are preferred for precise tasks, including bending, cutting wires, and gripping. Their increasing use in industries such as PCB manufacturing, electronics assembly, and microelectronics reflects a growing demand for precision tools that cater to advancements in these sectors.

Based on end-users, the market is segmented into automotive, home improvement, industrial and manufacturing, electronics and electrical, and others. In 2023, the automotive segment held a 32% share and is anticipated to grow at a CAGR of 3.6% from 2024 to 2032. The automotive industry’s increasing reliance on high-precision tools for assembly and maintenance tasks has heightened the demand for needle nose pliers. These tools are indispensable for handling intricate components, such as wiring and fittings, particularly in modern vehicles with complex systems.

U.S. needle nose pliers market generated USD 62.3 million in 2023 and is projected to grow at a CAGR of 3.4% through 2032. Since the pandemic, the shift toward home improvement and repair activities has significantly boosted demand for precision tools. With more individuals taking on electrical, plumbing, and general home repair tasks, needle nose pliers have become a staple tool for a variety of applications.

Table of Contents

220 Pages
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry synopsis, 2021-2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Supplier landscape
3.3 Profit margin analysis.
3.4 Key news & initiatives
3.5 Regulatory landscape
3.6 Impact forces
3.6.1 Growth drivers
3.6.1.1 Increased demand for hand tools
3.6.1.2 Global manufacturing expansion
3.6.2 Industry pitfalls & challenges
3.6.2.1 Swift technological advancements
3.6.2.2 Disruptions in supply chains
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product Type, 2021-2032 (USD Million) (Thousand Units)
5.1 Key trends
5.2 Straight nose
5.3 Bent nose
Chapter 6 Market Estimates & Forecast, By Material, 2021-2032 (USD Million) (Thousand Units)
6.1 Key trends
6.2 Carbon steel
6.3 Stainless steel
6.4 Forged steel
6.5 Alloy steel
Chapter 7 Market Estimates & Forecast, By Price, 2021-2032 (USD Million) (Thousand Units)
7.1 Key trends
7.2 Low
7.3 Medium
7.4 High
Chapter 8 Market Estimates & Forecast, By End Use, 2021-2032 (USD Million) (Thousand Units)
8.1 Key trends
8.2 Automotive
8.3 Home improvement
8.4 Industrial & manufacturing
8.5 Electronics & electrical
8.6 Others (woodworking, model making etc.)
Chapter 9 Market Estimates & Forecast, By Distribution Channel, 2021-2032 (USD Million) (Thousand Units)
9.1 Key trends
9.2 Direct sales
9.3 Indirect sales
Chapter 10 Market Estimates & Forecast, By Region, 2021-2032 (USD Million) (Thousand Units)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Russia
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 Australia
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.6 MEA
10.6.1 UAE
10.6.2 Saudi Arabia
10.6.3 South Africa
Chapter 11 Company Profiles
11.1 Beta Group
11.2 C.H. Hanson
11.3 Crescent Tools
11.4 Grip-on
11.5 Klein Tools
11.6 Knipex
11.7 Milwaukee Tool
11.8 Snap-On
11.9 Sonic Tools
11.10 Stanley Black & Decker
11.11 Tekton
11.12 Toptul
11.13 Vermont American
11.14 Wiha Tools
11.15 Wurth
 

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