Household Hand Tools Market

Household Hand Tools Market by Products (Cutting Tools, Measuring Tools, Taps & Dies, and General Tools), Distribution Channels (Retail Channels and Online), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Share, Growth, Size, Trends, and Forecast 2021 – 2028

  • Report ID: EP-410
  • Author: Growth Market Reports
  • Rating: 4.7
  • Total Reviews: 2
  • No. Of Pages: 148
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The global household hand tools market was valued at USD 4.5 billion in 2020 and is projected to expand at a substantial CAGR during the forecast period. The growth of the market is attributed to the changing customer’s behavior and preferences for do-it-yourself (DIY) trend.

Growing shift towards DIY culture on account of rising labor costs in the industrialized countries such as the U.S., Canada, and the U.K. plays an important role in expanding demand for household hand tools. Nowadays, many people start adopting the self-help approach in various activities associated with house making, modifying, and repairing. Additionally, owing to the rapid advancement of technology and other innovative methods, manufacturers are able to produce easy-to-use and handy tools for various household usage or purposes among those who have less indepth knowledge about house making.

Household Hand Tools Market Key Takeaways

Increasing impact of social media providing numerous repair tutorials from the specialists across the globe such as YouTube and Facebook are propelling the customers’ demand for household tools and equipment for repairing and modification. Expanding demand for accessible furniture with facilities such as easy assembly or disassembly is another key factor pushing the global market. Furthermore, the rising number of artisan who develop a wide habit of using hand tools in the emerging countries such as India and China present a vital aspect for the market expansion. This change of emerging habit or preference for using tools is widely influenced by the impact of Western culture, which normally adopt to repair things at home as a part of their culture. This offers to reduce the expensive cost of repairs labor and modifications of a house.

Market Trends, Drivers, Restraints, and Opportunities:

  • Increasing adoption of the DIY method and rising labor cost in the household making activities are expected to fuel the market growth.
  • Development of extensive range of multifunctional tools that allow to support multiple consumer requirements for several household activities is projected to boost the demand for household hand tools in the coming years.
  • Technological development, which helps manufacturers to develop advanced equipment using various raw materials including black metal, iron, wood, and steel are pushing to grow the market significantly.
  • Lack of skilled labors in emerging countries acts as a key challenge that can hinder the market growth in the coming years.
  • Rising usage of power tools and electric machines for household activities are another key restraining factors expected to hamper the market expansion.
  • The manufacturers are focusing to develop user-friendly and functional tools in order to produce effective result of the consumers’ need. This is expected to present numerous opportunities for the expansion of the market.

Scope of the Report

The report on the global household hand tools market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been involved in this report.

Attributes

Details

Report Title

Household Hand Tools Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Products (Cutting Tools, Measuring Tools, Taps & Dies, and General Tools), and Distribution channels (Retail Channels and Online)

Regional Scope

Asia Pacific, Europe, North America, Latin America, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Growth Factors, Competitive Landscape, and Trends, and Revenue Forecast

Key Players Covered in the Report

Apex Tool Group; Akar Tools; JPW Industries; JK Files; Great Wall Precision; Klein Tools; Wurth Group; Stanley Black & Decker; PHOENIX; Excelta; Sinotools; TTi; Channellock; JETECH; and Kennametal Inc.


Global Household Hand Tools Market Segment Insights

General tools segment is holding a major share of the market
Based on products, the market is segmented into cutting tools, measuring tools, taps & dies, and general tools. The general tools segment is anticipated to witness a robust growth rate during the forecast period due to high demand for the product among a large number of household owners and its wide applications in various household activities. The general hand tools include chisel, pliers, drillers, screwdrivers, various gardening equipment, and others, which are widely used in various applications of a household purposes. Moreover, the rising demand for these hand can be also attributed to the growing number of household ownership especially among the young adults. However, the cutting tools segment is projected to exhibit significant growth in the coming years owing to the rising popularity of household gardening and decoration. Online segment is expected to grow at a robust rate during the forecast period.

Household Hand Tools Market By Products

On the basis of distribution channels, the market is classified as retail channels and online. The retail channels segment is expected to register a substantial CAGR in the coming years owing to wide availability of a variety of household hand tools in offline store including hardware shops and tool and machinery stores. The offline stores generated a total revenue of USD 1.5 billion in 2020. Furthermore, the accessibility of an extensive range of products provided by different brands enables customers to compare and choose the best option from the products. Meanwhile, the online segment is expected to expand at a CAGR of 4.2% during the forecast period. Rising number of buying household items through online portals of leading manufacturers and increasing number of customers to use smartphone to buy products from e-commerce websites. Moreover, these online portals are offering services such as door-to-door delivery of products and heavy discount to attract a large number of customers.

North America held a dominant market share
In terms of regions, the global household hand tools market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America dominated the global market representing a share of more than 30% in 2020. Factors such as high labor cost, consumer preference for independent or self-services, and growing adoption of household activities among owners are the key factors boosting the segment growth. However, the market in Asia Pacific is estimated to expand at a rapid growth rate of 5% during the analysis period owing to the rising acceptance of Western culture for household care, rising awareness regarding the availability of different devices, rapid access to component fixture and repair tutorials using smartphones, and important acceptance of DIY procedures.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Household Hand Tools Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Household Hand Tools Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Household Hand Tools Market - Supply Chain
  4.5. Global Household Hand Tools Market Forecast
     4.5.1. Household Hand Tools Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Household Hand Tools Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Household Hand Tools Market Absolute $ Opportunity
5. Global Household Hand Tools Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Household Hand Tools Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Household Hand Tools Demand Share Forecast, 2019-2026
6. North America Household Hand Tools Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Household Hand Tools Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Household Hand Tools Demand Share Forecast, 2019-2026
7. Latin America Household Hand Tools Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Household Hand Tools Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Household Hand Tools Demand Share Forecast, 2019-2026
8. Europe Household Hand Tools Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Household Hand Tools Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Household Hand Tools Demand Share Forecast, 2019-2026
9. Asia Pacific Household Hand Tools Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Household Hand Tools Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Household Hand Tools Demand Share Forecast, 2019-2026
10. Middle East & Africa Household Hand Tools Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Household Hand Tools Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Household Hand Tools Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Household Hand Tools Market: Market Share Analysis
  11.2. Household Hand Tools Distributors and Customers
  11.3. Household Hand Tools Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Apex Tool Group
     11.4.2. Akar Tools
     11.4.3. JPW Industries
     11.4.4. JK Files
     11.4.5. Great Wall Precision
     11.4.6. Klein Tools
     11.4.7. Wurth Group
     11.4.8. Stanley Black & Decker
     11.4.9. PHOENIX
     11.4.10. Excelta
     11.4.11. Sinotools
Segments Covered in the Report
The global Household Hand Tools market has been segmented on the basis of

Products
  • Cutting Tools
  • Measuring Tools
  • Taps & Dies
  • General Tools
Distribution Channels
  • Retail Channels
  • Online
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Apex Tool Group
  • Akar Tools
  • JPW Industries
  • JK Files
  • Great Wall Precision
  • Klein Tools
  • Wurth Group
  • Stanley Black & Decker
  • PHOENIX
  • Excelta
  • Sinotools
  • TTi
  • Channellock
  • JETECH
  • Kennametal Inc.

Some key players competing in the global household hand tools market include Apex Tool Group; Akar Tools; JPW Industries; JK Files; Great Wall Precision; Klein Tools; Wurth Group; Stanley Black & Decker; PHOENIX; Excelta; Sinotools; TTi; Channellock; JETECH; and Kennametal Inc.

These market players are focusing on the development of innovative products with advanced features such as easy-to-use and accuracy to widen their consumer base and to ensure a competitive edge in the global competition. For instance, Bosch has recently launched its product, the Bosch GSB 500 RE Kit, a power and hand tool kit, which offers an advacned repair and modify tool kit for the household purposes.

 Household Hand Tools Market By Key Players

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