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Global Hand Tools Market Size, Share, Growth, Trends: By Type: Wrench, Plier, Screw Drivers, Hammers, Cable Cutter, Others; By End User: DIY, Professional, Industrial, Others; By Distribution Channel: Retail, Online; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Hand Tools Market Outlook
The global hand tools market attained a value of about USD 24.65 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.4% to reach nearly USD 39.39 billion by 2032.
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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.
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: Market 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.
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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.
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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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End User |
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| Breakup by Distribution Channel |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Opportunities and Challenges in the Market
8 Global Hand Tools Market Analysis
8.1 Key Industry Highlights
8.2 Global Hand Tools Historical Market (2018-2023)
8.3 Global Hand Tools Market Forecast (2024-2032)
8.4 Global Hand Tools Market by Type
8.4.1 Wrench
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Plier
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Screw Drivers
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Hammers
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Cable Cutter
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Hand Tools Market by End User
8.5.1 DIY
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Professional
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Industrial
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Hand Tools Market by Distribution Channel
8.6.1 Retail
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Online
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Hand Tools Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Hand Tools Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Hand Tools Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Hand Tools Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Hand Tools Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Hand Tools Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code - 8205)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Akar Tools Limited
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Apex Tool Group, LLC
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Channellock, Inc.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 JCBL Group
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Klein Tools, Inc.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Emerson Electric Co.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Others
19 Key Trends and Developments in the Market
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 Key Figures and Tables
1. Global Hand Tools Market: Key Industry Highlights, 2018 and 2032
2. Global Hand Tools Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Hand Tools Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Hand Tools Historical Market: Breakup by End User (USD Billion), 2018-2023
5. Global Hand Tools Market Forecast: Breakup by End User (USD Billion), 2024-2032
6. Global Hand Tools Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7. Global Hand Tools Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8. Global Hand Tools Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Hand Tools Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Hand Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Hand Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Hand Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Hand Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Hand Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Hand Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Hand Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Hand Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Hand Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Hand Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
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 2018-2028
25. Europe Historical Price Trends and Forecast 2018-2028
26. Asia Pacific Historical Price Trends and Forecast 2018-2028
27. Latin America Historical Price Trends and Forecast 2018-2028
28. Middle East and Africa Historical Price Trends and Forecast 2018-2028
29. Global Hand Tools Market Structure
Key Questions Answered in the Report
In 2023, the global hand tools market attained a value of nearly USD 24.65 billion.
The market is projected to grow at a CAGR of 5.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 39.39 billion by 2032.
The rising renovation and home improvement activities and the robust growth of the automotive sector are the major market drivers.
The development of advanced and innovative hand tools, the surging trend of DIY activities, and the manufacturing of hand tools using cutting-edge technology are the key trends aiding the market report.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of hand tools in the market 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 market 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 24.65 billion in 2023, 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 2024-2032, growing at a CAGR of 5.4%. The market is projected to reach nearly USD 39.39 billion by 2032.
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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