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Global Hand Tools Market is expected to grow at a CAGR of 4.66% over the Forecast Period of 2018 – 2024

Infograph - Global Hand Tools Market

By Infinium Global Research Aug, 2020

Hand tools are those devices that are operated without using power or electricity. Hand tools include instruments such as pliers, wrenches, hammers, screwdrivers, hacksaw frames, and others.  They are cheap, they require less maintenance as compared to power tools, no threat of electric shock and replaceable parts are easily available in the market. High consumption of hand tools in several residential and industrial applications drives the growth of the hand tools market. At present, the population’s inclination towards the Do-It-Yourself (DIY) the approach is growing rapidly across the world. The wide range of multi-functionality DIY and the household hand tools with the low-cost advantage is generally available in the market. Additionally, the use of these hand tools in the maintenance and repair work reduces outsourcing work costs that promote its usage in residential applications. Furthermore, growing online sales of hand tools contributing to the growth of the hand tools market. The numerous companies working in the hand tools market are currently offering e-commerce or online portals to showcase and sell their product line and services. The e-commerce initiatives also improve productivity and the one-on-one buyers and manufacture relationship in the hand tools market that promoting the growth of the hand tools market. However, the growing adoption of convenient and easy to use the equipment may hamper the growth of the hand tools market. Moreover, the emergence of the multifunctional hand tools, hammer ax tool kit is expected to create beneficial growth opportunities for the hand tools market.

 

The report on Global Hand Tools Market covers segments such as product type, sales channel, and end-use. The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, Latin America, and ME & Africa. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The report provides profiles of the companies in the global Robert Bosch GmbH, Stanley Black & Decker, Inc., Apex Tool Group, LLC, AIMCO Global, JPW Industries, Snap-on Inc., Emerson Electric Co., Akar Auto Industries Limited, Klein Tools, Inc., and Other Companies.

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