Pencil Sharpener Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global pencil sharpener market is anticipated to grow at a CAGR of 3.0% during the forecast period (2022-2028). It is a device that is used for refining a pencil's writing point by shredding away its worn surface. The major factor expected to drive the market growth is the rising demand for electric sharpeners, growth in educational expenditure, and an increase in product innovations along with their use as manually, using an electric motor, or a battery. In addition, an increase in government grants towards the education sector in developing economies and the rise in demand for state-of‐the-art educational infrastructure in developed economies are some factors that support the global pencil sharpener market to grow further during the forecast period.

Additionally, by product type, manual sharpeners are expected to hold significant share in the market during the forecast period owing to their low price and easy availability. It is used in different places such as schools, households, and offices, among others. Whereas, by end users, school kids and college dominate the market owing to the vast use of pencils by school and college students for different purposes such as writing, and drawing, among others.

Some major players in the market include Bostitch Office, Newell Office Brands, and Officemate, LLC, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. In June 2021, the department of fuel, minerals and metallurgical engineering of IIT (ISM), India is set to launch an innovative pencil sharpener that not only increases the life of pencil, however, also supports to save the metal used in making the blade.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Product Type
•By End-User
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Bostitch Office, Newell Office Brands, and Officemate, LLC, among others.

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Global Pencil Sharpener Market Report by Segment
By Product Type
•Manual Sharpeners
•Electric Sharpeners
•Battery Sharpeners
•Others (Handheld & Specialized)
By End Users
•School Kids
•College
•Creative Business House
•Others

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 
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This release was published on openPR.