Market Overview:
The global hand tools market size reached US$ 25.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 36.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2024-2032.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
US$ 25.6 Billion |
Market Forecast in 2032
|
US$ 36.5 Billion |
Market Growth Rate 2024-2032 |
3.9% |
Hand tools represent a set of indispensable, manually operated power equipment and devices that are not powered by electricity, motor, or other energy sources. Usually manufactured from the heat and forging treatment methods, some commonly used hand tools include hammers, wrenches, cable cutters, knives, scissors, screwdrivers, pliers, saws, clamps and drills. These devices assist in shaping the object into the desired form by relying on mechanical strength and performing various manual operations, including forging, filing, chopping, and sawing. Apart from this, hand tools are cost-effective, compact, and lightweight, due to which they find extensive application in various industries. At present, they are mainly classified into laying, striking, metal cutting, holding, sharpening and grinding tool categories.
Hand Tools Market Trends:
The increasing number of construction activities, along with the rising need for repair and maintenance operations across establishments are primarily driving the hand tools market growth. This is further supported by rapid urbanization, especially in the emerging economies, and the implementation of various policies by governments of several countries promoting infrastructure development, including roads, airports, and energy utilities. In line with this, the rising demand for portable and lightweight equipment for repairing automobiles has further facilitated the widespread adoption of multiple hand tools in the automotive sector. This, in turn, is acting as another growth-inducing factor. Additionally, continuous technological advancements and the introduction of effective and contemporary hand tool kits with rust preventive coatings are contributing to the market growth. Moreover, the emerging trend of do-it-yourself (DIY) practices, particularly during the global outbreak of coronavirus disease (COVID-19) pandemic and the consequent implementation of mandatory lockdowns, has augmented the extensive deployment of hand tools to construct, repair and maintain various objects, which is supporting the market growth. Apart from this, strategic collaborations amongst key players for manufacturing multi-functional hand tools that enable a single tool to perform several operations, along with their easy availability on various distribution channels are creating a positive outlook for the market.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hand tools market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, distribution channel and end user.
Breakup by Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- Wrench
- Plier
- Screw Drivers
- Hammers
- Cable Cutter
- Others
Breakup by Distribution Channel:
Breakup by End User:
- DIY
- Commercial
- Industrial
Breakup by Region:
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- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Channellock Inc, Emerson Electric Co, Ideal Industries Inc., Ingersoll Rand, Klein Tools Inc, Martin Sprocket & Gear Inc, Snap-on Incorporated, Stanley Black & Decker Inc, Tapariatools, Techtronic Industries Co. Ltd and TOYA S.A.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Type, Distribution Channel, End User, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
Channellock Inc, Emerson Electric Co, Ideal Industries Inc., Ingersoll Rand, Klein Tools Inc, Martin Sprocket & Gear Inc, Snap-on Incorporated, Stanley Black & Decker Inc, Tapariatools, Techtronic Industries Co. Ltd, TOYA S.A. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |