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Global Hand Tools Market: By Type: Wrench, Plier, Screw Drivers, Hammers, Cable Cutter, Others; By End User: DIY, Professional, Industrial, Others; By Distribution Channel: Retail, Online; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Hand Tools Market Outlook

The global hand tools market attained a value of about USD 21.3 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 5% to reach nearly USD 29.4 billion by 2026.

 

North America Holds a Significant Share of the Hand Tools Industry

North America accounts for a significant share of the market owing to the rising use of hand tools in domestic and DIY uses. The rising labour cost in the region is increasing the trend of independent services, hence aiding the market growth. In addition, increasing home ownership owing to inflating disposable income, especially among the young population, is increasing the demand for hand tools. The growing house age in the United States is surging home improvement and renovation activities, which is significantly contributing to the market growth. Moreover, the Asia Pacific region is also witnessing rapid growth owing to the escalating construction and infrastructure activities. The initiation of infrastructure projects by various governments in the region is boosting the growth of hand tools industry.

 

Global Hand Tools Market

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The rising use of hand tools in the automotive sector for maintenance and repair of automobiles is aiding the industry growth. Hand tools such as wrenches are extensively used to take out components from used and junk vehicles for reusing and recycling purposes. As automobile maintenance requires the use of tools in tight spaces, hand tools are increasingly used owing to their portability and convenience. Moreover, the development of hand tools that specifically adhere to automotive repair and maintenance by the leading companies is anticipated to fuel the market growth for hand tools in the forecast period.

 

Hand Tools: Industry Definition and Segmentation

Hand tools are tools that are implemented for manual operations, such as sawing, forging, chopping, and filling, among others. They are generally used on the material to shape it in the desired form by using mechanical strength. They are cost-effective and efficient for various applications in the industrial sector.

The major types of hand tools are:

  • Wrench
  • Plier
  • Screw Drivers
  • Hammers
  • Cable Cutter
  • Others

The market can be broadly categorised on the basis of its end users into:

  • DIY
  • Professional
  • Industrial
  • Others

Based on distribution channel, the market is divided into:

  • Retail 
  • Online

The EMR report looks into the regional markets of hand tools like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Trend of Do-It-Yourself Activities to Bolster the Market Growth for Hand Tools

The trend of technological solutions such as voice assistance and smart homes are evolving consumers preferences. Moreover, the plethora of information available on the internet about almost everything is boosting the practice of do-it-yourself (DIY) through which consumers solve problems independently without an expert. Do-it-yourself involves construction, repair, and maintenance ranging from changing the tyres of vehicles to home renovation. This is increasing the demand for hand tools such as hammers and screw drivers. The coronavirus pandemic has accelerated the trend of do-it-yourself owing to stay-at-home orders. In addition, the robust growth of the DIY home improvement industry is propelling the market growth. This, in turn, is escalating the use of home improvement tools, equipment, and appliances, therefore augmenting the market growth for hand tools.

The development of advanced and innovative hand tools while enhancing their durability is expected to invigorate the market growth. The integration of wrench and screw drivers in one tool for use in a project that requires switching from bolts to screws conveniently is also bolstering the market growth. The manufacturing of pilers using laser-treated cutting-edge technology while featuring a rust preventive coating to increase durability is anticipated to augment the growth of the hand tools industry. In addition, the sustainability of hand tools is increasing their demand in various industries, consequently invigorating the market growth. The production of hand tools with new topics to enhance durability and convenience is anticipated to drive the market growth in the forecast period.

 

Key Industry Players in the Global Hand Tools Market

The report presents a detailed analysis of the following key players in the global hand tools market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Akar Tools Limited
  • Apex Tool Group, LLC
  • Channellock, Inc.
  • JCBL Group
  • Klein Tools, Inc.
  • Emerson Electric Co.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, End User, Distribution Channel, Region
Breakup by Type Wrench, Plier, Screw Drivers, Hammers, Cable Cutter, Others
Breakup by End User DIY, Professional, Industrial, Others
Breakup by Distribution Channel Retail, Online
Breakup by Region North America, Latin America, Europe, Middle East and Africa, Asia Pacific
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Trade Data Analysis Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Akar Tools Limited, Apex Tool Group, LLC, Channellock, Inc., JCBL Group, Klein Tools, Inc., Emerson Electric Co., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Hand Tools Market Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Hand Tools Historical Market (2016-2020) 
    8.3    Global Hand Tools Market Forecast (2021-2026)
    8.4    Global Hand Tools Market by Type
        8.4.1    Wrench
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Plier
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Screw Drivers
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Hammers
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Cable Cutter
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2016-2020)
            8.4.5.3    Forecast Trend (2021-2026)
        8.4.6    Others
    8.5    Global Hand Tools Market by End User
        8.5.1    DIY
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Professional
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Industrial
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Others
    8.6    Global Hand Tools Market by Distribution Channel
        8.6.1    Retail
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Online
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    Global Hand Tools Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code – 8205)

    12.1    Major Exporting Countries
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume 
13    Price Analysis
    13.1    North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.2    Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.3    Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.4    Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.5    Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Akar Tools Limited
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    Apex Tool Group, LLC
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    Channellock, Inc.
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    JCBL Group
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Klein Tools, Inc.
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Emerson Electric Co.
            14.2.6.1    Company Overview
            14.2.6.2    Product Portfolio
            14.2.6.3    Demographic Reach and Achievements
            14.2.6.4    Certifications
        14.2.7    Others
15    Industry Events and Developments

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Figures and Tables

1.    Global Hand Tools Market: Key Industry Highlights, 2016 and 2026
2.    Global Hand Tools Historical Market: Breakup by Type (USD Billion), 2016-2020
3.    Global Hand Tools Market Forecast: Breakup by Type (USD Billion), 2021-2026
4.    Global Hand Tools Historical Market: Breakup by End User (USD Billion), 2016-2020
5.    Global Hand Tools Market Forecast: Breakup by End User (USD Billion), 2021-2026
6.    Global Hand Tools Historical Market: Breakup by Distribution Channel (USD Billion), 2016-2020
7.    Global Hand Tools Market Forecast: Breakup by Distribution Channel (USD Billion), 2021-2026
8.    Global Hand Tools Historical Market: Breakup by Region (USD Billion), 2016-2020
9.    Global Hand Tools Market Forecast: Breakup by Region (USD Billion), 2021-2026
10.    North America Hand Tools Historical Market: Breakup by Country (USD Billion), 2016-2020
11.    North America Hand Tools Market Forecast: Breakup by Country (USD Billion), 2021-2026
12.    Europe Hand Tools Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    Europe Hand Tools Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Asia Pacific Hand Tools Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Asia Pacific Hand Tools Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Latin America Hand Tools Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Latin America Hand Tools Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Middle East and Africa Hand Tools Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Middle East and Africa Hand Tools Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Major Exporting Countries by Value
21.    Major Importing Countries by Value
22.    Major Exporting Countries by Volume
23.    Major Importing Countries by Volume
24.    North America Historical Price Trends and Forecast 2016-2026
25.    Europe Historical Price Trends and Forecast 2016-2026
26.    Asia Pacific Historical Price Trends and Forecast 2016-2026
27.    Latin America Historical Price Trends and Forecast 2016-2026
28.    Middle East and Africa Historical Price Trends and Forecast 2016-2026
29.    Global Hand Tools Market Structure

Key Questions Answered in the Report

In 2020, the global hand tools market attained a value of nearly USD 21.3 billion.

The market is projected to grow at a CAGR of 5% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 29.4 billion by 2026. 

The market is being propelled by the rising renovation and home improvement activities, and the robust growth of the automotive sector.

The industry is expected to be driven by the development of advanced and innovative hand tools, the surge of DIY activities, and the manufacturing of hand tools using cutting-edge technology.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major types of hand tools in the industry are wrench, plier, screw drivers, hammers, and cable cutter, among others.

The different end users of hand tools are DIY, professional, and industrial, among others.

The significant distribution channels in the market are retail and online.

The major players in the industry are Akar Tools Limited, Apex Tool Group, LLC, Channellock, Inc., JCBL Group, Klein Tools, Inc., and Emerson Electric Co., among others.

Analyst Review

The global hand tools market attained a value of about USD 21.3 billion in 2020, driven by the robust growth of the automotive sector. Aided by the rising do-it-yourself activities, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 5%. The market is projected to reach nearly USD 29.4 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the hand tools industry can be segmented into wrench, plier, screw drivers, hammers, and cable cutter, among others. By end users, the market is divided into DIY, professional, and industrial, among others. On the basis of distribution channels, the industry is divided into retail and online. The major regional markets for hand tools are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Akar Tools Limited, Apex Tool Group, LLC, Channellock, Inc., JCBL Group, Klein Tools, Inc., and Emerson Electric Co., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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