Hand tools market to grow by USD 2.11 billion from 2021 to 2026|Huge demand from developing economies to influence market growth - Technavio

NEW YORK, July 18, 2023 /PRNewswire/ -- The hand tools market is expected to grow by USD 2.11 billion from 2021 to 2026, according to Technavio. As per the latest report, the market will progress at a CAGR of 3.96% during the forecast period.  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. 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. 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. View a Sample Report within minutes!

Hand Tools Market 2022-2026: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our hand tools market report covers the following areas:

• Hand Tools Market size
• Hand Tools Market trends
• Hand Tools Market industry analysis
• Hand Tools Market five forces analysis
• Hand Tools Market competitive landscape

Hand Tools Market 2022-2026: Segmentation
Hand Tools Market is segmented as below:

• Application 
• General-purpose
• Metal Cutting
• Others
• End-user 
• Industrial
• Household
• Geography 
• North America
• Europe
• APAC
• South America
• Middle East And Africa

The general-purpose segment will be significant for market growth during the forecast period. General-purpose hand tools are largely used for construction activities, residential activities, and industries. The industries include automotive and electrical, and electronics. The growth among residential users can be attributed to the growing number of DIY home improvement activities across the globe. Hence, such factors boost the segment growth during the forecast period.

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Hand Tools Market 2022-2026: Market Dynamics

Major Drivers

The huge demand from developing economies drives the growth of the market during the forecast period. Rapid industrialization in economies such as Brazil, Russia, India, China, and South Africa (BRICS) creates considerable demand for hand tools.

Furthermore, growing investments in the manufacturing sector in developing countries increase the consumption of hand tools. Resultantly, the rise in industrialization is expected to support the demand for hand tools during the forecast period. Hence, such factors boost the market growth during the forecast period.

Significant Challenges

Fluctuating raw material prices challenge the growth of the hand tools market during the forecast period. Substrates include iron, steel, aluminum, plastic, and carbon fibers are mainly used for the production of hand tools. The fluctuations in raw material prices and crude oil prices bring uncertainties to the market and adversely affect production costs.

Furthermore, the fluctuations in the prices of raw materials and the increasing competition from local manufacturers, especially in emerging economies. This poses a strong challenge to the vendors in the global hand tools market and impacts the final prices of hand tools. Hence, such challenges impede market growth during the forecast period.

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Hand Tools Market 2022-2026: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. We provide a detailed analysis of around 25 vendors operating in the Hand Tools Market, including some of the vendors such as Akar Auto Industries Ltd., Apex Tool Group LLC, Bitburger Holding GmbH, Channellock Inc., Crossman Tool Co. Ltd., Emerson Electric Co., Excelta Corp., IDEAL Industries Inc, JCBLGroup, JPW Industries Inc., Kennametal Inc., Klein Tools Inc., KNIPEX Werk, Kyoto Tool Co. Ltd, Raymond Trade Tools, Snap on Inc, Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Truper SA de CV, and Wiha Werkzeuge GmbH. Backed with competitive intelligence and benchmarking, our research reports on the Hand Tools Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

Vendor Offerings

• Akar Auto Industries Ltd. - The company offers hand tools such as spanners, wrenches, and ring spanners.
• Apex Tool Group LLC - The company offers hand tools through Campbell, Sata, Crescent, and Erem brands.
• Emerson Electric Co. - The company offers hand tools such as bolt cutters, anvils, and pliers.

Hand Tools Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• 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
• 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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Table Of Contents :

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments
• Exhibit 25: Chart on Application - Market share 2021-2026 (%)
• Exhibit 26: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application 
• Exhibit 27: Chart on Comparison by Application
• Exhibit 28: Data Table on Comparison by Application

• 5.3 General-purpose - Market size and forecast 2021-2026 
• Exhibit 29: Chart on General-purpose - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Data Table on General-purpose - Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Chart on General-purpose - Year-over-year growth 2021-2026 (%)
• Exhibit 32: Data Table on General-purpose - Year-over-year growth 2021-2026 (%)

• 5.4 Metal cutting - Market size and forecast 2021-2026 
• Exhibit 33: Chart on Metal cutting - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Data Table on Metal cutting - Market size and forecast 2021-2026 ($ million)
• Exhibit 35: Chart on Metal cutting - Year-over-year growth 2021-2026 (%)
• Exhibit 36: Data Table on Metal cutting - Year-over-year growth 2021-2026 (%)

• 5.5 Others - Market size and forecast 2021-2026 
• Exhibit 37: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 39: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 40: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Application 
• Exhibit 41: Market opportunity by Application ($ million)

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 42: Chart on End-user - Market share 2021-2026 (%)
• Exhibit 43: Data Table on End-user - Market share 2021-2026 (%)

• 6.2 Comparison by End-user 
• Exhibit 44: Chart on Comparison by End-user
• Exhibit 45: Data Table on Comparison by End-user

• 6.3 Industrial - Market size and forecast 2021-2026 
• Exhibit 46: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Industrial - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Industrial - Year-over-year growth 2021-2026 (%)

• 6.4 Household - Market size and forecast 2021-2026 
• Exhibit 50: Chart on Household - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Household - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Household - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Household - Year-over-year growth 2021-2026 (%)

• 6.5 Market opportunity by End-user 
• Exhibit 54: Market opportunity by End-user ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 55: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 56: Chart on Market share by geography 2021-2026 (%)
• Exhibit 57: Data Table on Market share by geography 2021-2026 (%)

• 8.2 Geographic comparison 
• Exhibit 58: Chart on Geographic comparison
• Exhibit 59: Data Table on Geographic comparison

• 8.3 North America - Market size and forecast 2021-2026 
• Exhibit 60: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 61: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 62: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 63: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 8.4 Europe - Market size and forecast 2021-2026 
• Exhibit 64: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 65: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 66: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 67: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 8.5 APAC - Market size and forecast 2021-2026 
• Exhibit 68: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 69: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 70: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 71: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 8.6 South America - Market size and forecast 2021-2026 
• Exhibit 72: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 73: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 74: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 75: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 8.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 76: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 77: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 78: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 79: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 8.8 US - Market size and forecast 2021-2026 
• Exhibit 80: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 81: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 82: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 83: Data Table on US - Year-over-year growth 2021-2026 (%)

• 8.9 Germany - Market size and forecast 2021-2026 
• Exhibit 84: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 85: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 86: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 87: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 8.10 UK - Market size and forecast 2021-2026 
• Exhibit 88: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 89: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 90: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 91: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 8.11 China - Market size and forecast 2021-2026 
• Exhibit 92: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 93: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 94: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 95: Data Table on China - Year-over-year growth 2021-2026 (%)

• 8.12 France - Market size and forecast 2021-2026 
• Exhibit 96: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 97: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 98: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 99: Data Table on France - Year-over-year growth 2021-2026 (%)

• 8.13 Market opportunity by geography 
• Exhibit 100: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 101: Impact of drivers and challenges in 2021 and 2026

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 102: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 103: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 104: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 105: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 106: Matrix on vendor position and classification

• 11.3 Akar Auto Industries Ltd. 
• Exhibit 107: Akar Auto Industries Ltd. - Overview
• Exhibit 108: Akar Auto Industries Ltd. - Product / Service
• Exhibit 109: Akar Auto Industries Ltd. - Key offerings

• 11.4 Apex Tool Group LLC
• Exhibit 110: Apex Tool Group LLC - Overview
• Exhibit 111: Apex Tool Group LLC - Product / Service
• Exhibit 112: Apex Tool Group LLC - Key offerings

• 11.5 Emerson Electric Co.
• Exhibit 113: Emerson Electric Co. - Overview
• Exhibit 114: Emerson Electric Co. - Business segments
• Exhibit 115: Emerson Electric Co. - Key news
• Exhibit 116: Emerson Electric Co. - Key offerings
• Exhibit 117: Emerson Electric Co. - Segment focus

• 11.6 IDEAL Industries Inc
• Exhibit 118: IDEAL Industries Inc - Overview
• Exhibit 119: IDEAL Industries Inc - Product / Service
• Exhibit 120: IDEAL Industries Inc - Key offerings

• 11.7 JPW Industries Inc.
• Exhibit 121: JPW Industries Inc. - Overview
• Exhibit 122: JPW Industries Inc. - Product / Service
• Exhibit 123: JPW Industries Inc. - Key news
• Exhibit 124: JPW Industries Inc. - Key offerings

• 11.8 Kennametal Inc.
• Exhibit 125: Kennametal Inc. - Overview
• Exhibit 126: Kennametal Inc. - Business segments
• Exhibit 127: Kennametal Inc. - Key news
• Exhibit 128: Kennametal Inc. - Key offerings
• Exhibit 129: Kennametal Inc. - Segment focus

• 11.9 Raymond Trade Tools
• Exhibit 130: Raymond Trade Tools - Overview
• Exhibit 131: Raymond Trade Tools - Product / Service
• Exhibit 132: Raymond Trade Tools - Key offerings

• 11.10 Snap on Inc
• Exhibit 133: Snap on Inc - Overview
• Exhibit 134: Snap on Inc - Business segments
• Exhibit 135: Snap on Inc - Key offerings
• Exhibit 136: Snap on Inc - Segment focus

• 11.11 Stanley Black and Decker Inc. 
• Exhibit 137: Stanley Black and Decker Inc. - Overview
• Exhibit 138: Stanley Black and Decker Inc. - Business segments
• Exhibit 139: Stanley Black and Decker Inc. - Key news
• Exhibit 140: Stanley Black and Decker Inc. - Key offerings
• Exhibit 141: Stanley Black and Decker Inc. - Segment focus

• 11.12 Techtronic Industries Co. Ltd. 
• Exhibit 142: Techtronic Industries Co. Ltd. - Overview
• Exhibit 143: Techtronic Industries Co. Ltd. - Business segments
• Exhibit 144: Techtronic Industries Co. Ltd. - Key offerings
• Exhibit 145: Techtronic Industries Co. Ltd. - Segment focus

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 146: Inclusions checklist
• Exhibit 147: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 148: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 149: Research methodology
• Exhibit 150: Validation techniques employed for market sizing
• Exhibit 151: Information sources

• 12.5 List of abbreviations 
• Exhibit 152: List of abbreviations

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