The global hand tools & woodworking tools market size was valued at approximately USD 1.3 Bn in 2020 and is expected to reach approximately USD 2.25 Bn by 2028, expanding at a CAGR of 4% during the forecast period, 2021-2028. Hand tools are any tools or pieces of equipment that are not powered by electricity. Gardening, agriculture, and framing all utilize this equipment on a daily basis. The instruments are utilized for specific professions and skills, as they are operated by hand. The market is expanding as a result of increasing building and infrastructure projects, as well as the acceptance of hand tools in households for domestic purposes and the expansion of manufacturing operations across the globe.
The report on the global hand tools & woodworking tools market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes | Details |
Report Title | Hand Tools & Woodworking Tools Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast |
Base Year | 2020 |
Historic Data | 2018 & 2019 |
Forecast Period | 2021–2028 |
Segmentation | By Types (Wrenches, Chisels, Hammers, Saws, Screwdrivers, Pliers, and others), By Distribution Channels (Online [Company-owned Portal and E-commerce], Offline [Supermarket/Hypermarket, Speciality Stores, and Departmental stores]), By End-users (Professional and Residential) |
Regional Scope | Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
Report Coverage | Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
Key Players Covered in the Report | Apex Tool Group, LLC., Stanley Black and Decker, Inc, Klein Tools, Inc., AKAR AUTO INDUSTRIES LTD., TAPARIA TOOLS LTD, Hangzhou Great Star Industrial Co., Ltd., TOYA S.A., Martin Sprocket & Gear, Inc., Channellock, Inc., and Wright Tool Company |
Based on types, the global hand tools & woodworking tools market is segmented into wrenches, chisels, hammers, saws, screwdrivers, pliers, and others. The saw segment is expected to hold a significant share of the hand & woodworking tools market, owing to low lifespan of the saw. All mentioned tools are important while woodworking, therefore these tools are expected to drive the market according to the need of the end-user.
On the basis of distribution channels, the global hand tools & woodworking tools market is segmented into online and offline. The online segment is expected to expand at a substantial rate, owing to high internet penetration across the globe. Shopping habits of customers are shifting as a result of online distribution platforms. They offer several extra benefits to clients, such as door-to-door delivery of items and an online display of a wide range of products and brands to pick from via their online e-commerce platforms. On the online marketplaces, many third-party distributors sell hand tools. This allows consumers to research, analyze, compare, and pick suitable hand tool for their needs. Many hand tool makers are now able to offer their items directly to end-users, due to these online channels.
Based on end-users, the global hand tools & woodworking tools market is segmented into professional and residential. During the forecast period, the professional end-users segment is anticipated to dominate the market. Professional applications such as plumbing, electricity, and carpentry registered significant expansion as a result of infrastructure development across the globe.
In terms of regions, the global hand tools & woodworking tools market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Growing industrialization and increasing building activities in countries such as India, China, Australia, and Japan fueled the hand tools and woodworking tools market in Asia Pacific. Both construction and industrial operations rely heavily on hand tools. Governments in developed countries are taking steps to build infrastructure and construction plans, as well as to promote industrial development as the number of industrial facilities and manufacturing units grows.
Segments Covered in the Report:
By Types
By Distribution Channels
By End-users
By Regions
By Key Players
Key players in the global hand tools & woodworking tools market include Apex Tool Group, LLC., Stanley Black and Decker, Inc, Klein Tools, Inc., AKAR AUTO INDUSTRIES LTD., TAPARIA TOOLS LTD, Hangzhou Great Star Industrial Co., Ltd., TOYA S.A., Martin Sprocket & Gear, Inc., Channellock, Inc., and Wright Tool Company.
Segments Covered in the Report:
By Types
By Distribution Channels
By End-users
By Regions
By Key Players
Key players in the global hand tools & woodworking tools market include Apex Tool Group, LLC., Stanley Black and Decker, Inc, Klein Tools, Inc., AKAR AUTO INDUSTRIES LTD., TAPARIA TOOLS LTD, Hangzhou Great Star Industrial Co., Ltd., TOYA S.A., Martin Sprocket & Gear, Inc., Channellock, Inc., and Wright Tool Company.
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