North American Hand Tools Market Trends, Size, Competitive Analysis and Forecast - 2020-2026

The North American hand tools market is anticipated to grow at a CAGR of 2.0% during the forecast period. North America was the second-largest market for hand tools in 2019, accounted for a share of more than 24.0%. The region is expected to maintain its dominance throughout the forecast period as well owing to the rise in end-user applications. The revenue is mostly from the largest economy of the region – the US. The North American region is home to several large industries including automobile, construction, aerospace, electronics, and packaging.

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Being a forerunner in the automobile industry, the North American automotive sector manufactures the highest number of electric cars in the world due to the rising demand for eco-friendly products. Some of the largest automobile manufacturers such as Ford, General Motors, and FCA are based in the US. With the North American automotive sensors market expected to grow at a CAGR of 5.45% during 2020–2027, the requirement for the assembly of precision parts will be on the rise. This can further drive the market for precision hand tools like pliers, cutters, and wrenches.

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North American Hand Tools Market Segmentation

By Tool Type
• General Purpose Tools
o Hammers
o Clamps and Vises
o Pliers
o Ratchets and Sockets
o Riveters
o Screwdrivers and Nut Drivers
o Wrecking Bars
o Wrenches

• Cutting Tools
o Chisel and Files
o Cable and Wire Cutting Tools
o Knives and Blades
o Saws

• Layout and Measuring Tools
o Plumb Bob
o Try Square

• Taps and Dies

By End-user
• Commercial
• Industrial
• Residential

Regional Analysis
• The US
• Canada

Company Profiles
• Apex Tool Group, LLC
• BOJO INC.
• Channellock, Inc.
• Daniels Manufacturing Corp.
• Emerson Electric Co.
• Estwing Manufacturing Co., Inc.
• Gray Tools Canada, Inc.
• Ideal Industries, Inc.
• Kennametal Inc.
• Klein Tools, Inc.

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