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Hand Tools Market Is Expected to Exhibit Significant Growth Over 2031 Apex Tool Group, LLC, Channellock, Inc., Emerson Electric Co.

06-03-2024 06:18 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Hand Tools Market Is Expected to Exhibit Significant Growth Over

Hand Tools Market is expected to expand at a compounded annual growth rate (CAGR) of 2.8% during the forecast period. Hand tools are handheld tools that are powered by manual force rather than battery or electricity like in the case of power tools. Being the most conventional form of tools, they are used for striking, cutting, measuring, fastening, and other general purposes. They are utilized for industrial, commercial, and residential activities; the most commonly used hand tools among end-users include wrenches, drivers, pliers, and hammers.

They are extensively sold by large distributors whereas the DIY retail chains, and e-retailing are gaining momentum in recent years. The growth in Li-ion battery tools is estimated to be a major threat to the hand tools market as they provide enhanced convenience and ergonomics. However, the development of precision hand tools, the demand-supply gap for power tools in the heavy-duty segment, and low-cost labor in the growing economies of Asia-Pacific and Latin America are driving the momentum for hand tools.

Further, due to the onset of the COVID-19 pandemic, the hand tools market suffered a hefty downfall. The imposition of lockdown in nearly all of the countries resulted in a decline in the demand for hand tools, as most of the commercial and industrial activities stopped. However, in the last quarter of 2020, most of the countries have eased up on lockdown guidelines and the commercial and industrial activities have resumed, which will result in the hand tools industry gaining gradual momentum.

To Request a Sample of our Report on Hand Tools Market:  https://www.omrglobal.com/request-sample/hand-tools-market

 Hand Tools Market Segmentation

By Tool Type

General Purpose Tools
Hammers
Clamps and Vises
Pliers
Ratchets and Sockets
Riveters
Screwdrivers and Nut Drivers
Wrecking Bars
Wrenches
Cutting Tools
Chisel and Files
Cable and Wire Cutting Tools
Knives and Blades
Saws

 Layout and Measuring Tools

Plumb Bob
Try Square
Taps and Dies

By End-User

Commercial
Industrial
Residential

A full Report of Hand Tools Market is Available @  https://www.omrglobal.com/industry-reports/hand-tools-market

Regional Analysis

North America

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Company Profiles

Apex Tool Group, LLC
Channellock, Inc.
Emerson Electric Co.
Estwing Manufacturing Co., Inc.
Gray Tools Canada, Inc.
Ideal Industries, Inc.
JCBL Group
JK Files (India),Ltd.
Kennametal, Inc.
Klein Tools, Inc.
KNIPEX
Leatherman Tool Group, Inc.
Phoenix Contact USA
Robert Bosch GmbH
Snap-on,Inc.
Stanley Black & Decker, Inc.
Techtronic Industries Co. Ltd.
The Würth Group
WeraWerkzeuge GmbH
Wiha Tools USA

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Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no:  +91 7803040404

About Orion Market Research 
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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