KSA and UAE Hand Tools Market Expected to Reach $0.48 Billion by 2027

According to a recent report published by Allied Market Research, titled, "KSA and UAE Hand Tools Market by Category, Channel, and End-user Industry: Opportunity Analysis and Industry Forecast, 2020-2027," the KSA and UAE hand tools market size accounted for $0.36 billion in 2019, and is expected to reach $0.48 billion by 2027, registering a CAGR of 4.7% from 2020 to 2027. In 2019, the tools storage segment dominated the KSA and UAE hand tools market, followed by the wrench segment.

Get a Sample Copy of this Report
https://www.alliedmarketresearch.com/request-sample/A11091

The market includes revenue generated by sales of hand tools through wholesalers, retailers, distributors and e-commerce websites in countries such as KSA and UAE. These tools are sold to individual users as well as professionals for personal and commercial & industrial applications.

The KSA and UAE hand tools market forecast was valued at $363.20 million in 2019, and is projected to reach $476.80 million by 2027, registering a CAGR of 4.7% from 2020 to 2027.

The KSA and UAE hand tools market is majorly driven by sales of hand tools to individuals and professionals for new construction and maintenance in construction, automobile, oil & gas and other industries. In addition, the high market price of power tools leads to increase in sales of hand tools.
However, the power tools manufacturers are developing and launching low-cost power tools in the market, which acts as a restraint to the KSA and UAE hand tools market growth.

In addition, outbreak of COVID-19 has led to halt in construction and manufacturing activities across the globe. Halt in logistics services has led to halt in overall sales of hand tools, which in turn hindered the growth of the market. However, industries are gradually getting back on track and vaccine discovery is expected to lead to recovery of the market by mid-2021. Further, increase in adoption of DIY culture will increase the sales of hand tools in KSA and UAE and is projected to boost the market during the forecast period.

Enquire Before Buying
https://www.alliedmarketresearch.com/purchase-enquiry/A11091

The KSA and UAE hand tools market is segmented into category, channel end-user industry, and country. On the basis of category, the market is divided into wrenches, ratchets & sockets, tools storage, pliers, screwdrivers, torque control, measuring & scribing, cutting tools, striking tools and others. Depending on channel, it is classified into offline and online. By end-user industrial, it is segregated into DIY and commercial & industrial. By country, it is analyzed across Kingdom of Saudi Arabia (KSA) and United Arab Emirates (UAE).

Key Findings Of The Study

By category, the tools storage segment was the highest revenue contributor in 2019.
By channel, the offline segment generated the highest revenue in 2019.
By end-user industry, the commercial & industrial segment generated the highest revenue in 2019.

The major players profiled in the KSA and UAE hand tools market include Channellock, Inc., Chronos (Clarke Tools), Illinois Tool Works Inc. (ITWIDS-TransTech), King Tony, Knipex, Nabil Tools & Hardware, Snap-on Incorporated, Stanley Black & Decker, Inc., TTI, Inc. and Vata Tools. Major companies in the market have adopted strategies such as business expansion, acquisition, and product launch, to offer better products and services to customers in the market.

Request Customization
https://www.alliedmarketresearch.com/request-for-customization/A11091

🔰High Trending Reports🔰
Cable Drum Market https://www.alliedmarketresearch.com/cable-drum-market

Tractor Market https://www.alliedmarketresearch.com/tractor-market-A14059

Semiconductor Assembly Equipment Market https://www.alliedmarketresearch.com/semiconductor-assembly-equipment-market-A13637

Robot End Effector Market https://www.alliedmarketresearch.com/robot-end-effector-market-A12531

Offsite Construction Market https://www.alliedmarketresearch.com/offsite-construction-market-A12504

alternative building materials market https://www.alliedmarketresearch.com/alternative-building-materials-market-A11861

Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.