The newly Hand Tools market report provided a complete view of the present and future market. Deep analysis of enterprise competition pattern, enterprise product advantages and disadvantages, regional industrial layout characteristics. The base year considered for the study is 2018 and the market size is projected from 2019 to 2026.
Product Information
Hand Tool is a tool held in the hand and operated without electricity or other power. Categories of hand tools include wrenches, pliers, cutters, files, striking tools, struck or hammered tools, screwdrivers, vises, clamps, snips, saws, drills and knives.
On the basis of products, the various types include Metal Cutting Tools, Taps and Dies, Layout and Measuring Tools, and General-Purpose Tools. On the basis of application, the Hand Tools market is segmented into Distributor Sales, Online Sales, and Retail Sales.
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Market Insights
According to a new research study, the Hand Tools market size is expected to reach USD 13,898 million by 2026 from USD 10,309 million in 2019, with a compound annual growth rate of 4.36% during the forecast period. The Hand Tools market is expected to witness significant growth due to the increasing demand from the construction and automotive industries. Moreover, the large-scale awareness regarding labor safety and ergonomics is also expected to promote the growth of the Hand Tools market. However, the oscillating costs of raw materials can pose a challenge to market growth.
Regional Segment Analysis
The report focuses on detailed analysis of major regions like North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Columbia), and Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).
North America holds the major market share of 31.05% in the Hand Tools market, and the trend is expected to continue in the coming years. This trend can be attributed to the rapidly expanding construction industry, which is fueling the demand for advanced tools. In addition, growing concern on infrastructure development by the governments will further propel the growth of the market. Asia-Pacific is closely following North America with a market share of 30.28%. The rapid industrialization and urbanization in developing economies, such as China and India, are expected to drive the growth of the market. Europe accounted for a market share of 29.85% in 2018.
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Competitive Players
The Hand Tools market is full of competition due to the presence of many large and small companies and local manufacturers. The leading vendors in the market are Akar Tools Limited, Apex Tools Group, Channellock, Inc., Craftsman-Sears Brands, and Irwin Industrial Tools. Other prominent vendors in the market are JK Files (India) Limited, Kennametal Inc., Klein Tools, Newell Brands Incorporated, Northern Tool + Equipment, Power Products Llc, Snap-On, Stanley Black&Decker, Techtronic Industries Company Limited, Textron Incorporated, Wera Tools, and others.
Target Audience for this Report
l Hand Tools manufacturers
l Hand Tools importers and exporters
l Hand Tools traders, distributors, and suppliers
l Raw material suppliers of Hand Tools
l Hand Tools industry associations
l Product managers, Hand Tools industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
l Government agencies and NGOs
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Hand Tools Market
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2 Market Trends and Competitive Landscape
3 Segmentation of Hand Tools Market by Types
4 Segmentation of Hand Tools Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Hand Tools Market in Major Countries
7 North America Hand Tools Landscape Analysis
8 Europe Hand Tools Landscape Analysis
9 Asia Pacific Hand Tools Landscape Analysis
10 Latin America, Middle East & Africa Hand Tools Landscape Analysis
11 Major Players Profile
11.1 Akar Tools Limited
11.1.1 Akar Tools Limited Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Apex Tools Group
11.3 Channellock, Inc.
11.4 Craftsman-Sears Brands
11.5 Irwin Industrial Tools
11.6 JK Files (India) Limited
11.7 Kennametal Inc.
11.8 Klein Tools
11.9 Newell Brands Incorporated
11.10 Northern Tool + Equipment
11.11 Power Products Llc
11.12 Snap-On
11.13 Stanley Black&Decker
11.14 Techtronic Industries Company Limited
11.15 Textron Incorporated
11.16 Wera Tools
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Key questions answered in the report
l What will the market size and growth rate be in 2026?
l What segment or region will drive or lead the market growth and what are the reasons?
l How will market drivers, constraints and future opportunities affect market dynamics and subsequent analysis of relevant trends?
l What key strategies are used by top vendors to increase revenue?
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