Hand Tools Market Research Report
PREBOOK THIS REPORT - SAVE 10% SECOND EDITION

Hand Tools Market - Global Outlook & Forecast 2022-2027

TO BE PUBLISHED : Jan 2022 | Pages : 406

Up to $525 off Prebook this report

THE GLOBAL HAND TOOLS MARKET SIZE WAS VALUED AT USD 22.07 BILLION IN 2021 AND IS EXPECTED TO REACH USD 28.74 BILLION BY 2027, GROWING AT A CAGR OF 4.14% DURING THE FORECAST PERIOD

Hand Tools Market Report Includes Size, Share, & Trends Analysis by Tool Type (General Purpose Tools (Wrenches, Screwdrivers & Nut Drivers, Pliers, Hammers, Riveters, Clamps & Vises, Wrecking Bars, and Ratchets & Sockets), Cutting Tools (Saws, Chisel & Files, Knives & Blades, and Cable & Wire Cutting Tools), Layout & Measuring Tools, and Taps & Dies), By End-User (Industrial (Construction, Automotive, Aerospace, Electronics, Energy, Shipbuilding, and Others), Commercial, and Residential), By Geography (APAC, North America, Europe, Latin America, and the Middle East & Africa) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022–2027

GET ACTIONABLE INSIGHTS ON HOW COVID-19 IS IMPACTING YOUR BUSINESS
Enquire Now Download Free Sample

Most Exhaustive Report

406 Pages

116 Tables

146 Charts

5 Regions

18 Countries

33 Companies

3 Market Segment

HAND TOOLS MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) USD 28.74 BILLION (2027)
CAGR 4.14% (2022-2027)
BASE YEAR 2021
FORECAST YEAR 2022-2027
MARKET SEGMENTS Tool Type (General Purpose Tools (Wrenches, Screwdrivers & Nut Drivers, Pliers, Hammers, Riveters, Clamps & Vises, Wrecking Bars, and Ratchets & Sockets), Cutting Tools (Saws, Chisel & Files, Knives & Blades, and Cable & Wire Cutting Tools), Layout & Measuring Tools, and Taps & Dies), End-User (Industrial (Construction, Automotive, Aerospace, Electronics, Energy, Shipbuilding, and Others), Commercial, and Residential)
GEOGRAPHIC ANALYSIS APAC, North America, Europe, Latin America, and Middle East & Africa
COUNTRIES COVERED China, India, Japan, South Korea, Australia, US, Canada, UK, Germany, France, Italy, Spain, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Turkey

MARKET OVERVIEW

The global hand tools market was valued at USD 22.07 billion in 2021 and is expected to reach USD 28.74 billion by 2027, growing at a CAGR of 4.14% during the forecast period. Rapid industrialization and increasing applications in the household and commercial sectors are primarily driving the hand tools and accessories market. DIY (Do It Yourself) has seen enormous growth globally over the past decade. While the trend was earlier popular only in Western countries, it is now being rapidly adopted in APAC and Latin America. Some heavy tools such as demolition hammers are also used for repair and maintenance works in commercial and residential spaces. The DIY culture can be one of the major drivers for the household hand tools market in the coming years with a higher scope for penetration in growing economies.

KEY HIGHLIGHTS

  • The increasing demand for aircraft alongside expansion efforts in the aviation industry is expected to support the growth of aerospace fasteners and manual fastening tools during the forecast period.
  • The DIY tool kits are gaining popularity in countries like India and China owing to the limited availability of skilled labor, which can be seen more in urban areas. This has driven the growth in the utilization of hand tools like chisels, hammers, and screwdrivers for domestic household activities, home improvement, repairs, woodwork, and gardening work.
  • Mass township projects all over the world are also driving the demand for hand tools in the forecast period. For instance, Saudi Arabia announced the homeownership strategy which estimates 70% of the residents will have homes by 2030.
  • The US government has planned to invest around USD 2 trillion in infrastructure which will undoubtedly provide higher support to the overall growth of the infrastructural sector in North America.
  • It is estimated that the number of automotive parts and components installed will grow by over 3% annually until 2025 owing to the preference for new software, sensors, and cameras that can make use of hand tools. Brands like Stanley offer an exclusive range of hand tools like screwdrivers, wrenches, and sockets that are dedicated to the automotive industry.
  • The 2015 version of the International Building Code (IBC) has allowed the construction of wood-frame buildings that can be up to 6-story high (26 meters) high. This will drive the demand in hand tools & woodworking tools market.

HAND TOOLS MARKET SEGMENTS

Hand tools market is segmented on the basis of-

  • Tool Type
  • End-User
  • Geography

HAND TOOLS MARKET SEGMENTATION

  • Increasing requirements for screwdrivers in the consumer electronics industry is driving the market growth. A large number of small and medium manufacturers sell the product at a cheaper rate, so the bargaining power of buyers is very high. The demand for manual screwdrivers may be challenged by power-driven hand tools thus driving growth in the power tools market.
  • New entrants in the market are focusing on the pocket and utility knives segments owing to their wide scope of applications. With high safety and comfortable handling, they are finding adoption in the DIY segment as well. Compact, efficient, and weightless pocketknives are in demand. Thus, vendors can use this opportunity to innovate for better product penetration.
  • The industrial end-user segment was the largest segment in the global hand tools market in 2021 and this trend is likely to continue throughout the forecast period. This is majorly due to the construction industry. For instance, housing projects with 20 million affordable homes for the urban poor is expected to boost revenue in the construction sector of India thus driving the demand for mechanical hand tools market

HAND TOOLS MARKET GEOGRAPHY

  • APAC: APAC region consists of powerful developing nations with a majority working population. Tokyo Olympics will finally happen in the forecast period after being postponed because of a pandemic. The new infrastructure projects and upgrades are going to drive market growth. Even small nations like Singapore and Malaysia are also ramping up their infrastructural development. Singapore is known for its high-class construction facilities and Budget 2020 has announced plans for infrastructure projects.
  • North America: The North American automotive sector manufactures the highest number of electric cars in the world due to the rising demand for eco-friendly products. The north American automotive sensors market is on the rise which will also propel the demand for the assembly of precision parts. This can further drive the market for precision hand tools like pliers, cutters, and wrenches.

VENDOR LANDSCAPE

  • The key players in the hand tools market are Stanley Black & Decker, Techtronic Industries Company, Snap-on, Apex Tool Group (ATG), and Emerson.
  • Brands like Stanley Black & Decker are recognized for their industry-leading fastening solutions. The company acquired Consolidated Aerospace Manufacturing LLC (CAM), enabling better support for aerospace consumers.
  • With the growth in DIY culture and the demand for more user-friendly tools, vendors are customizing their tools for home improvement activities.
  • The anti-vibe hammers from STANLEY are designed to keep professionals in mind. It also consists of a patented tuning fork design that helps in reducing the vibration during work, which is the most demanded feature in the market today.

The hand tools market report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Market segmentation by Tool Type

  • General Purpose Tools
    • Wrenches
    • Screwdrivers & Nut Drivers
    • Pliers
    • Hammers
    • Riveters
    • Clamps & Vises
    • Wrecking Bars
    • Ratchets & Sockets
  • Cutting Tools
    • Saws
    • Chisel & Files
    • Knives & Blades
    • Cable & Wire Cutting Tools
  • Layout & Measuring Tools
  • Taps & Dies

Market Segmentation by End-User

  • Industrial
    • Construction
    • Automotive
    • Aerospace
    • Electronics
    • Energy
    • Shipbuilding
    • Others
  • Commercial
  • Residential

Market Segmentation by Geography

  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Turkey

Frequently Asked Questions

The hand tools market size was valued at USD 22.07 billion in 2021 and is expected to reach USD 28.74 billion by 2027.
Wrench holds the largest market share in the global hand tools market.
The key trends in the hand tools market are rising wood construction, mass township projects, rising infrastructure projects, and increasing wind and solar energy installations.
The top players in the global hand tools market are Stanley Black & Decker, Techtronic Industries Company, Snap-on, Apex Tool Group (ATG), and Emerson.
The different types of mechanical hand tools discussed in the report are Wrenches, Screwdrivers & Nut Drivers, Pliers, Hammers, Riveters, Clamps & Vises, Wrecking Bars, and Ratchets & Sockets.
Download Free Sample

The hand tools market size was valued at USD 22.07 billion in 2021 and is expected to reach USD 28.74 billion by 2027, growing at a CAGR of 4.14% during the forecast period

The following factors are likely to contribute to the growth of the hand tools market-

  • Rising Wood Construction
  • Rising Home Renovation and DIY Activities
  • Increasing Solar & Wind Energy Installations
  • Rising Construction Opportunities in Developing Nations
  • Mass Township Projects
  • Low Cost & Unskilled Labor in Developing Economies

Base Year: 2021

Forecast Year: 2022-2027

The study considers a detailed scenario of the present hand tools market and its market dynamics for 2022−2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Key Vendors

  • Stanley Black & Decker
    • Business Overview
    • Product Offerings
    • Key Strengths
    • Key Strategies
    • Key Opportunities
  • Techtronic Industries Company
  • Snap-on
  • Apex Tool Group (ATG)
  • Emerson

Other Prominent Vendors

  • Robert Bosch GmbH
    • Business Overview
    • Product Offerings
  • Akar Tools Ltd
  • Wera
  • Klein Tools
  • JCBL India
  • Channellock
  • JK Files India
  • Kennametal
  • IDEAL Industries
  • Gray Tools Canada
  • Leatherman
  • Ningbo Great Wall Precision Industrial Co., Ltd
  • PILANA
  • Wurth
  • Tajima
  • KNIPEX
  • PHOENIX CONTACT
  • Wiha Tools Ltd
  • Ajay Group
  • Mac Tools
  • Stiletto Tools
  • Vaughan Manufacturing
  • Estwing
  • Kobalt
  • Daniels Manufacturing Company
  • Lowell Corporation
  • Bojo
  • Honiton

Market segmentation by Tool Type

  • General Purpose Tools
    • Wrenches
    • Screwdrivers & Nut Drivers
    • Pliers
    • Hammers
    • Riveters
    • Clamps & Vises
    • Wrecking Bars
    • Ratchets & Sockets
  • Cutting Tools
    • Saws
    • Chisel & Files
    • Knives & Blades
    • Cable & Wire Cutting Tools
  • Layout & Measuring Tools
  • Taps & Dies

Market Segmentation by End-User

  • Industrial
    • Construction
    • Automotive
    • Aerospace
    • Electronics
    • Energy
    • Shipbuilding
    • Others
  • Commercial
  • Residential

Market Segmentation by Geography

  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Turkey

Please reach us at enquiry@arizton.com

Please reach us at enquiry@arizton.com

Select a license type that suits your business needs

Single User Licence
$3375.00
  • Report accessible by one user only
  • Free 10% or 3 days of customization
  • Free post-sale service assistance
  • Continuous support through email
Best Value Tag
5 User Licence
$3825.00
  • Report accessible by 5 users within the organization
  • Free 15% or 4.5 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
Corporate Licence
$4725.00
  • Free Datasheet worth $1500
  • Report accessible by the entire organization
  • Free 20% or 6 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Direct access to lead analysts
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
Datasheet Licence
$1350.00
  • Report accessible by 1 user only
  • Free 15% or 32 hours of customization
  • Free post-sale service assistance
  • Direct access to lead analysts

YOU CAN GET A FREE SAMPLE OF THIS REPORT!

Fill out your details & get your free sample

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Our Clients

Prebook Tag
Licence Types What are these?
10 % OFF

Save 10% on this report.
Discount already applied

Our Clients Speak

"The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow."

Erik Young
CEO, Co-founder
Audink Inc., DBA Audios
SPEAK WITH OUR ANALYST

Want to know more about the report or any specific requirement?

Click to Email +1-312-235-2040

Why Arizton?

  • 100% Customer Satisfaction
  • 24x7 availability – we are always there when you need us
  • 200+ Fortune 500 Companies trust Arizton's report
  • 80% of our reports are exclusive and first in the industry
  • 100% more data and analysis
  • 1000+ reports published till date