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Worldwide Hand Tools Industry to 2025 - Rising Timber Construction Presents Opportunities

Research and Markets
·11-min read

Dublin, Oct. 06, 2020 (GLOBE NEWSWIRE) -- The "Hand Tools Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.

The global hand tools market by revenue is expected to grow at a CAGR of over 4% during the period 2019-2025.

The global hand tools market is expected to grow 1.3X times during the forecast period. The market is expected to witness a considerable growth post-2020. Rapid industrialization and increasing applications in household and commercial sectors are primarily driving the market. Automobile, aerospace, construction, electronics, and shipbuilding are the major end-use of these devices. The tool industry landscape is moving toward sophistication and customization that can determine market leadership in a competitive scenario. Advancements in technology and the extensive usage of battery-driven devices have fueled the adoption of cordless power tools and related accessories that are light and durable. This growth factor for the substitutes is expected to challenge the potential of hand tools. The DIY culture can be one of the major drivers for these devices in the coming years with a high scope for penetration in growing economies.

The global hand tools market suffered a downfall during the COVID-19 crisis as most economic activities were halted during Q1 and Q2 in 2020. Most major revenue-generating end-users such as construction, automotive, commercial renovation, and home improvement activities were affected, leading to a decline in the market sales. Curfews and lockdowns prevented the extensive application of hand tools by workers and contractors, thereby affecting the overall revenue generation for the market during the period.

The general purpose tools segment was the major revenue contributor in 2019 and is expected to grow at a CAGR of over 4% during the period 2019-2025. The volume of works carried out by general purpose devices, which include fasteners, striking tools, and pry bars, has grown significantly among penetrated DIY enthusiasts and for home-improvement professionals. Wrenches, screwdrivers & nut drivers, pliers, hammers, riveters, clamps and vises, wrecking bars, ratchets, and pry bars are the key types of hand tools in the segment. Commercial, residential, and industrial sectors are the major end-users of general purpose equipment, which are extensively utilized to perform small repairs, maintenance and other related project activities.

The industrial end-user segment contributed over 70% of the total market revenue in 2019, with the construction industry accounted for over USD 4 billion, followed by the automotive industry at USD 3.75 billion in 2019. The rise in the aerospace industry is expected to drive the growth of hand drills and fasteners as they are extensive application in assembly activities. While the shipbuilding industry is a major end-user for cutting and striking tools such as hammer, it is expected to grow at a promising CAGR during the forecast period.

The commercial end-user segment is expected to grow at a CAGR of over 4% during the period 2019-2025. The segment is expected to grow at a steady phase in the Middle East & Africa region due to the growth in commercial construction, including hotels and shopping malls. North America was the second largest revenue generator in the segment. The high volume of renovation and retrofit activities in commercial places such as shopping malls, corporate offices, hotels, and restaurants is driving the growth of the segment, whereas the growth in the tourism sector is another major influencer in Latin America and APAC markets, which can gain traction post the COVID-19 pandemic.

The residential end-user category was the lowest revenue contributor that generated USD 2.27 billion in 2019. The preference for power tools, especially in the battery-operated segment for home improvement and DIY activities, is expected to dominate the hand tools market in the residential segment during the forecast period. While devices such as drills, wrenches, saws, utility knives, and measuring tools can find adoption in the sector, heat guns and glue guns from cordless segment are considered as the game changers of the DIY industry.

Prominent Vendors

  • Stanley Black & Decker

  • Techtronic Industries Company

  • Snap-on

  • Apex Tool Group

  • Emerson

Other Prominent Vendors

  • Robert Bosch GmbH

  • Ajay Group

  • Akar Tools Ltd.

  • Bojo

  • Channellock

  • Daniels Manufacturing Company

  • Estwing

  • Gray Tools Canada

  • Honiton

  • IDEAL INDUSTRIES

  • JCBL India

  • JK Files India

  • Kennametal

  • Klein Tools

  • KNIPEX

  • Kobalt

  • Leatherman

  • Lowell Corporation

  • Mac Tools

  • Ningbo Great Wall Precision Industrial Co. Ltd.

  • PHOENIX CONTACT

  • PILANA

  • Stiletto

  • Tajima

  • Vaughan Manufacturing

  • Wera Tools

  • Wiha Tools Ltd.

  • Wurth

Key Questions Answered:

  • What is the expected market size of the global hand tools market in 2025?

  • What are the factors impacting the growth of the market?

  • What are the drivers, trends, and restraints in the market?

  • Who are the leading vendors and what are their market shares?

  • What is the impact of the COVID-19 pandemic on the hand tools market?

Key Topics Covered:

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
7.2 COVID-19 Impact

8 Market Opportunities & Trends
8.1 Rising Home Improvement & DIY Activities
8.2 Rising Prominence Of Asian Manufacturing
8.3 Rising Timber Construction

9 Market Growth Enablers
9.1 Growth In Application Of Fasteners
9.2 Low-Cost Labor In Growing Economies
9.3 Growth Of Automotive Aftermarket Industry

10 Market Restraints
10.1 Growth Of Power Tools Market
10.2 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 & Nut Drivers
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 Ratchets & 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
18.4 Construction
18.4.1 Market Size & Forecast
18.4.2 Market By Geography
18.5 Automotive
18.5.1 Market Size & Forecast
18.5.2 Market By Geography
18.6 Aerospace
18.6.1 Market Size & Forecast
18.6.2 Market By Geography
18.7 Electronics
18.7.1 Market Size & Forecast
18.7.2 Market By Geography
18.8 Energy
18.8.1 Market Size & Forecast
18.8.2 Market By Geography
18.9 Shipbuilding
18.9.1 Market Size & Forecast
18.9.2 Market By Geography
18.10 Others
18.10.1 Market Size & Forecast
18.10.2 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 END-USER
22.4.1 Market Size & Forecast
22.5 Key Countries
22.5.1 China: Market Size & Forecast
22.5.2 India: Market Size & Forecast
22.5.3 Japan: Market Size & Forecast
22.5.4 South Korea: Market Size & Forecast
22.5.5 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 End User
23.4.1 Market Size & Forecast
23.5 Key Countries
23.5.1 US: Market Size & Forecast
23.5.2 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 End User
24.4.1 Market Size & Forecast
24.5 Key Countries
24.5.1 UK: Market Size & Forecast
24.5.2 Germany: Market Size & Forecast
24.5.3 France: Market Size & Forecast
24.5.4 Spain: Market Size & Forecast
24.5.5 Italy: 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 End User
25.4.1 Market Size & Forecast
25.5 Key Countries
25.5.1 Brazil: Market Size & Forecast
25.5.2 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 End User
26.4.1 Market Size & Forecast
26.5 Key Countries
26.5.1 South Africa: Market Size & Forecast
26.5.2 Saudi Arabia: Market Size & Forecast
26.5.3 UAE: Market Size & Forecast
26.5.4 Turkey: Market Size & Forecast

27 Competitive Landscape
27.1 Competition Overview

28 Key Company Profiles

29 Other Prominent Vendors

30 Report Summary
30.1 Key Takeaways
30.2 Strategic Recommendations

31 Quantitative Summary
31.1 Market By Geography
31.2 Tool Type
31.3 General Purpose Tools
31.3.1 Wrenches
31.3.2 Screwdrivers & Nut Drivers
31.3.3 Pliers
31.3.4 Hammers
31.3.5 Riveters
31.3.6 Clamps & Vises
31.3.7 Wrecking Bars
31.3.8 Ratchets & Sockets
31.4 Cutting Tools
31.4.1 Chisel & Files
31.4.2 Saws
31.4.3 Knives & Blades
31.4.4 Cable & Wire Cutting Tools
31.5 Layout & Measuring Tools
31.6 Taps & Dies
31.7 End-User
31.8 Industrial
31.8.1 Construction
31.8.2 Automotive
31.8.3 Aerospace
31.8.4 Electronics
31.8.5 Energy
31.8.6 Shipbuilding
31.8.7 Other Industries
31.9 Commercial
31.10 Residential
31.11 APAC
31.11.1 Tool Type
31.11.2 End-user
31.12 North America
31.12.1 Tool Type
31.12.2 End-user
31.13 Europe
31.13.1 Tool Type
31.13.2 End-user
31.14 Latin America
31.14.1 Tool Type
31.14.2 End-user
31.15 Middle East & Africa
31.15.1 Tool Type
31.15.2 End-user

32 Appendix
32.1 Abbreviations

For more information about this report visit https://www.researchandmarkets.com/r/ref6ze

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