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Hand Tools Market to grow at a CAGR of 3.92% by 2025 | Introduction of Ergonomically Designed Hand Tools is a Major Trend to Drive Market| Technavio

Hand tools market report by the End-User (industrial and household), Application (general-purpose, metal cutting, and others), and Geography (North America, APAC, Europe, South America, MEA, North America, APAC, Europe, South America, and MEA)

NEW YORK, June 7, 2022 /PRNewswire/ -- The hand tools market projects a growth of USD 2.02 billion from 2020 to 2025 registering a CAGR of 3.92% as per the latest research report by Technavio. The introduction of ergonomically designed hand tools is a major trend supporting the global hand tools market share growth. There have been several innovations in the design and features of hand tools. Vendors are focusing on designing hand tools that improve the operational efficiency of commercial and industrial facilities. They are also focusing on manufacturing hand tools that are ergonomically designed. The professionals using hand tools, such as electricians, are also looking for ergonomically designed hand tools. Several vendors are also focusing on improving the ergonomics of their hand tools to prevent accidents, which are common in industrial and commercial facilities while using hand tools. Ergonomically designed hand tools improve the comfort of users and reduce the limitations associated with hand tools. To reduce the number of accidents in industrial and commercial facilities, organizations such as the OSHA and the ANSI have implemented regulations that specify the design and features of hand tools. Such regulations also improve the ergonomics of hand tools. Essentially, such innovations in the design of hand tools will drive the growth of the global hand tools market during the forecast period.

Technavio has announced its latest market research report titled Hand Tools Market by Application, End-user, and Geography - Forecast and Analysis 2021-2025

For more highlights on the market trends - Download a sample now!

The competitive scenario provided in the Hand Tools Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don't wait, Make a strategic approach & boost your business goals with our Hand Tools Market Forecast Report -  Buy Now!

Hand Tools Market: Major Growth Drivers
The hand tools market reports the following factors as major growth drivers during the forecast period:

  • Huge demand from developing economies
  • The growing popularity of DIY activities
  • Growing construction market

The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge - To know about the market challenges - Download a sample now!

Hand Tools Market: Revenue Generating Segment

The hand tools market share growth in the industrial segment will be significant for revenue generation. A key factor driving the demand for hand tools is the growth of the industrial sector. This growth can be attributed to the increased industrial output, which is driven by industry (including construction) value-added. This rise in the industry value added describes an increase in the manufacturing process, led by the growth of the net manufacturing output across the globe. The increase in manufacturing processes will drive the demand for manufacturing and support equipment, such as hand tools, during the forecast period.

Hand Tools Market: Vendor Analysis

The hand tools market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.  The hand tools market report also offers information on several market vendors, including Akar Auto Industries Ltd., Apex Tool Group LLC, Channellock Inc., Emerson Electric Co., IDEAL INDUSTRIES INC., JPW Industries Inc., Kennametal Inc., Snap-on Inc., Stanley Black, and Decker Inc., and Techtronic Industries Co. Ltd. among others.

  • Akar Auto Industries Ltd.- The company offers hand tools that are made of chrome vanadium and carbon steel with slip joints with serrated jaws which are available in the painted handle and polished head.
  • To know about all major vendor offerings - Download a sample now!

Reasons to Buy Hand Tools Market Report:

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist hand tools market growth during the next five years
  • Estimation of the hand tools market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the hand tools market across North America, APAC, Europe, South America, MEA, North America, APAC, Europe, South America, and MEA
  • Analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hand tools market vendors

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Hand Tools Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3.92%

Market growth 2021-2025

USD 2.02 billion

Market structure

Fragmented

YoY growth (%)

3.65

Performing market contribution

APAC at 40%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Akar Auto Industries Ltd., Apex Tool Group LLC, Channellock Inc., Emerson Electric Co., IDEAL INDUSTRIES INC., JPW Industries Inc., Kennametal Inc., Snap-on Inc., Stanley Black and Decker Inc., and Techtronic Industries Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Content

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Household appliances

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
  • 3.4 Market outlook: Forecast for 2020 - 2025
    • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
    • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 08: Five forces analysis 2020 & 2025
  • 4.2 Bargaining power of buyers
    • Exhibit 09: Bargaining power of buyers
  • 4.3 Bargaining power of suppliers
    • Exhibit 10: Bargaining power of suppliers
  • 4.4 Threat of new entrants
    • Exhibit 11: Threat of new entrants
  • 4.5 Threat of substitutes
    • Exhibit 12: Threat of substitutes
  • 4.6 Threat of rivalry
    • Exhibit 13: Threat of rivalry
  • 4.7 Market condition
    • Exhibit 14: Market condition - Five forces 2020

5 Market Segmentation by Application

  • 5.1 Market segments
    • Exhibit 15: Application - Market share 2020-2025 (%)
  • 5.2 Comparison by Application
    • Exhibit 16: Comparison by Application
  • 5.3 General-purpose - Market size and forecast 2020-2025
    • Exhibit 17: General-purpose - Market size and forecast 2020-2025 ($ million)
    • Exhibit 18: General-purpose - Year-over-year growth 2020-2025 (%)
  • 5.4 Metal cutting - Market size and forecast 2020-2025
    • Exhibit 19: Metal cutting - Market size and forecast 2020-2025 ($ million)
    • Exhibit 20: Metal cutting - Year-over-year growth 2020-2025 (%)
  • 5.5 Others - Market size and forecast 2020-2025
    • Exhibit 21: Others - Market size and forecast 2020-2025 ($ million)
    • Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
  • 5.6 Market opportunity by Application
    • Exhibit 23: Market opportunity by Application

6 Market Segmentation by End-user

  • 6.1 Market segments
    • Exhibit 24: End-user - Market share 2020-2025 (%)
  • 6.2 Comparison by End-user
    • Exhibit 25: Comparison by End-user
  • 6.3 Industrial - Market size and forecast 2020-2025
    • Exhibit 26: Industrial - Market size and forecast 2020-2025 ($ million)
    • Exhibit 27: Industrial - Year-over-year growth 2020-2025 (%)
  • 6.4 Household - Market size and forecast 2020-2025
    • Exhibit 28: Household - Market size and forecast 2020-2025 ($ million)
    • Exhibit 29: Household - Year-over-year growth 2020-2025 (%)
  • 6.5 Market opportunity by End-user
    • Exhibit 30: Market opportunity by End-user

7 Customer landscape

8 Geographic Landscape

  • 8.1 Geographic segmentation
    • Exhibit 32: Market share by geography 2020-2025 (%)
  • 8.2 Geographic comparison
    • Exhibit 33: Geographic comparison
  • 8.3 North America - Market size and forecast 2020-2025
    • Exhibit 34: North America - Market size and forecast 2020-2025 ($ million)
    • Exhibit 35: North America - Year-over-year growth 2020-2025 (%)
  • 8.4 APAC - Market size and forecast 2020-2025
    • Exhibit 36: APAC - Market size and forecast 2020-2025 ($ million)
    • Exhibit 37: APAC - Year-over-year growth 2020-2025 (%)
  • 8.5 Europe - Market size and forecast 2020-2025
    • Exhibit 38: Europe - Market size and forecast 2020-2025 ($ million)
    • Exhibit 39: Europe - Year-over-year growth 2020-2025 (%)
  • 8.6 South America - Market size and forecast 2020-2025
    • Exhibit 40: South America - Market size and forecast 2020-2025 ($ million)
    • Exhibit 41: South America - Year-over-year growth 2020-2025 (%)
  • 8.7 MEA - Market size and forecast 2020-2025
    • Exhibit 42: MEA - Market size and forecast 2020-2025 ($ million)
    • Exhibit 43: MEA - Year-over-year growth 2020-2025 (%)
  • 8.8 Key leading countries
    • Exhibit 44: Key leading countries
  • 8.9 Market opportunity by geography
    • Exhibit 45: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

  • 9.1 Market drivers
  • 9.2 Market challenges
    • Exhibit 46: Impact of drivers and challenges
  • 9.3 Market trends

10 Vendor Landscape

  • 10.1 Vendor landscape
  • 10.2 Landscape disruption
    • Exhibit 48: Landscape disruption
    • Exhibit 49: Industry risks
  • 10.3 Competitive Landscape

11 Vendor Analysis

  • 11.1 Vendors covered
    • Exhibit 50: Vendors covered
  • 11.2 Market positioning of vendors
    • Exhibit 51: Market positioning of vendors
  • 11.3 Akar Auto Industries Ltd.
    • Exhibit 52: Akar Auto Industries Ltd. - Overview
    • Exhibit 53: Akar Auto Industries Ltd. - Product and service
    • Exhibit 54: Akar Auto Industries Ltd. - Key offerings
  • 11.4 Apex Tool Group LLC
    • Exhibit 55: Apex Tool Group LLC - Overview
    • Exhibit 56: Apex Tool Group LLC - Product and service
    • Exhibit 57: Apex Tool Group LLC – Key news
    • Exhibit 58: Apex Tool Group LLC - Key offerings
  • 11.5 Channellock Inc.
    • Exhibit 59: Channellock Inc. - Overview
    • Exhibit 60: Channellock Inc. - Product and service
    • Exhibit 61: Channellock Inc. - Key offerings
  • 11.6 Emerson Electric Co.
    • Exhibit 62: Emerson Electric Co. - Overview
    • Exhibit 63: Emerson Electric Co. - Business segments
    • Exhibit 64: Emerson Electric Co. – Key news
    • Exhibit 65: Emerson Electric Co. - Key offerings
    • Exhibit 66: Emerson Electric Co. - Segment focus
  • 11.7 IDEAL INDUSTRIES INC.
    • Exhibit 67: IDEAL INDUSTRIES INC. - Overview
    • Exhibit 68: IDEAL INDUSTRIES INC. - Product and service
    • Exhibit 69: IDEAL INDUSTRIES INC. - Key offerings
  • 11.8 JPW Industries Inc.
    • Exhibit 70: JPW Industries Inc. - Overview
    • Exhibit 71: JPW Industries Inc. - Product and service
    • Exhibit 72: JPW industries Inc – Key news
    • Exhibit 73: JPW Industries Inc. - Key offerings
  • 11.9 Kennametal Inc.
    • Exhibit 74: Kennametal Inc. - Overview
    • Exhibit 75: Kennametal Inc. - Business segments
    • Exhibit 76: Kennametal Inc. – Key news
    • Exhibit 77: Kennametal Inc. - Key offerings
    • Exhibit 78: Kennametal Inc. - Segment focus
  • 11.10 Snap-on Inc.
    • Exhibit 79: Snap-on Inc. - Overview
    • Exhibit 80: Snap-on Inc. - Business segments
    • Exhibit 81: Snap-on Inc. – Key news
    • Exhibit 82: Snap-on Inc. - Key offerings
    • Exhibit 83: Snap-on Inc. - Segment focus
  • 11.11 Stanley Black and Decker Inc.
    • Exhibit 84: Stanley Black and Decker Inc. - Overview
    • Exhibit 85: Stanley Black and Decker Inc. - Business segments
    • Exhibit 86: Stanley Black and Docker Inc. – Key news
    • Exhibit 87: Stanley Black and Decker Inc. - Key offerings
    • Exhibit 88: Stanley Black and Decker Inc. - Segment focus
  • 11.12 Techtronic Industries Co. Ltd.
    • Exhibit 89: Techtronic Industries Co. Ltd. - Overview
    • Exhibit 90: Techtronic Industries Co. Ltd. - Business segments
    • Exhibit 91: Techtronic Industries Co. Ltd. - Key offerings
    • Exhibit 92: Techtronic Industries Co. Ltd. - Segment focus

12 Appendix

  • 12.1 Scope of the report
  • 12.2 Currency conversion rates for US$
    • Exhibit 93: Currency conversion rates for US$
  • 12.3 Research methodology
    • Exhibit 94: Research Methodology
    • Exhibit 95: Validation techniques employed for market sizing
    • Exhibit 96: Information sources
  • 12.4 List of abbreviations
    • Exhibit 97: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports, covering 800 technologies spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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