Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Hand Tools and Accessories market. Market segmentation includes Segment (Mechanics Service Tools, Edge Tools and Other Segments).
Hand tools are manual equipment and tools that do not use electricity for operational purposes. A wide range of hand tools and accessories are used in gardening, agriculture, maintenance & repair, and other activities. Due to the manual nature of operations, the use of hand tools is restricted to specific skills and tasks. The worldwide hand tools market is expected to witness significant growth post COVID-19 pandemic supported by their increased use in commercial and household sectors; in addition to rapid pace of industrialization. Other key reasons that drive the growth of the hand tools market include production technology advancements pertaining to hand tools; recovery in construction activities; increased demand for use in automotive maintenance and repair; as well as increased use in industrial applications. Some of the key end users of hand tools include automobile, construction, aerospace, shipbuilding, and electronics. The culture of DIY comprises another key reason that is likely to drive the growth of the hand tools market in the near future, with a high penetration scope in emerging nations. Additionally, growth within equipment and machinery manufacturing sectors globally provides profitable growth opportunities for key players in the hand tools market. The hand tools industry is witnessing increased focus on customization and sophistication, mainly due to the intensely competitive conditions in the market. Technology advancements and developments in production technology of hand tools are also supporting growth in the hand tools market. Focus of manufacturers is on the development of efficient, ergonomic and advanced hand tools and accessories for addressing the production and assembly needs of various industries. Hand tools market is however being restrained by intense competitive conditions and the resultant reduced profit margins. The market also confronts challenges due to the rising popularity and adoption of powered tools and their ability to use in a versatile range of applications.
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 5402. Among this pool, 864 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 162 unique participations, a total of 73 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
Key Competitors Covered in the Report -
Robert Bosch GmbH
Emerson Electric Company
Stanley Black & Decker, Inc.
Atlas Copco Group AB
The Lincoln Electric Company
Ideal Industries, Inc.
Southwire Company LLC
Klein Tools, Inc.
Segments Covered in the Report -
Segment (Mechanics Service Tools, Edge Tools, and Other Segments)
Geographies Analyzed in the Report -
Rest of Europe
Rest of Asia-Pacific
Rest of Latin America
Rest of Middle East
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.