About Hand Tools
Hand tools is an umbrella term for instruments such as hammers, pliers, cutters, screwdrivers, saws, and wrenches that are not powered by electricity. Hand tools are employed in activities such as chiseling, chopping, and forging across the manufacturing, automotive, construction, and household sectors.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Akar Auto Industries Limited (India), Apex Tool Group, LLC (United States), Snap-on Incorporated (United States), Stanley Black & Decker, Inc. (United States), Techtronic Industries Company Limited (China), Channellock, Inc. (United States), JK Files Limited (India), Kennametal Inc. (United States), Klein Tools, Inc. (United States) and Wera Tools (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hand Tools market by Type (Fastening tools, Cutting & Drilling Tools, Marking & Measuring Tools, Specialty & Workshop Tools, Tool Storage & Work Support, Wrench, Plier, Screw Drivers, Hammers, Cable Cutter and Others), Application (General Purpose, Metal Cutting, Woodcutting, Safety and Others) and Region.
On the basis of geography, the market of Hand Tools has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Industrial will boost the Hand Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Hand Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Strategic Alliances among Vendors
Market Growth Drivers:
The growth of the Aerospace Sector, Increase in the Number of Huge Manufacturing Plants and Industries Worldwide, Mounting Automotive Maintenance and Repair Activities Worldwide and Increasing DIY (Do It Yourself) Approach across the Globe
Challenges:
Safety Concerns Associated With Hand Tools
Opportunities:
Emerging Demand from Economies and Growing Automotive & Construction Industry Worldwide
Market Leaders and their expansionary development strategies
In July 2021, DEWALT launched TOUGHSERIES, a new line of premium hand tools representing the most durable hand tools from DEWALT yet. Designed for heavy-duty use in the most demanding applications, the TOUGHSERIES™ portfolio will launch with tapes this summer followed by hammers and screwdrivers in the fall. TOUGHSERIES™ tapes are designed with housing that survives a 100 ft. drop**, TOUGHSERIES™ hammers are 5X more durable*** than previous models, and TOUGHSERIES™ screwdrivers tout 10X more corrosion resistance∆ than previous models – all redefining the standard of tough.
On 4 Feb 2019, Klein Tools, the premier hand tool brand among U.S. electricians, announced the acquisition of the Wattmaster and Alco brands, based in Carrum Downs, a suburb of Victoria, Melbourne, Australia. This acquisition is expected to strengthen the company’s hand tool offerings across Australia and other regions.
Key Target Audience
Hand Tools Manufacturers, Hand Tools Raw Material Suppliers, Hand Tools Distributors, Hand Tool Importer/Exporter, Downstream Vendors and Industry Association
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.