Hand Tools Market Trends, Size, Competitive Analysis and Forecast - 2020-2026

The global hand tools market is estimated to record a substantial CAGR of 2.8% during the forecast period (2020-2026). Hand tools today are highly driven by external factors including the usage environment. The evolution in the segment also happens through technification of its driving force, which is increasingly less dependent on human strength. Further, the current scenario for the tools industry is moving in the direction of greater technification, alongside greater autonomy and the mode of operation. Despite the consistent changes in the tools industry, the four principles of percussion, cutting, leverage, and rotation are set to be a standard in the coming years as well.

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The global hand tools market suffered a slowdown on account of the COVID-19 crisis as most of the economic activities were halted in 2020, especially during Q1 and Q2 2020. Most of the major revenue-generating end-users such as construction, automotive, commercial renovation, and home improvement activities were affected, leading to a decline in sales of hand tools. The curfew and lockdown procedures prevented the extensive application of hand tools by workers and contractors, thereby affecting the overall revenue generation for the market during the period. The utilization of hand drills, wrenches, drivers, cutters, and saws, which were considered as the major revenue-generating tools in the market, was potentially reduced during the early part of 2020.

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Market Coverage

  • Market number available for – 2019-2026
  • Base year- 2019
  • Forecast period- 2020-2026
  • Segment Covered- by Tool Type and End-user
  • Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
  • Competitive Landscape- Apex Tool Group, LLC; Emerson Electric Co.; Snap-on Inc.; Stanley Black & Decker, Inc.; JCBL Group, and Techtronic Industries Co. Ltd.

Key questions addressed by the report

  • What is the market growth rate?
  • Which segment and region dominates the market in base year?
  • Which segment and region will project fastest growth in the market?
  • How COVID-19 impacted the market?
  • Who is the leader in the market?
  • How players are addressing challenges to sustain growth?
  • Where is the investment opportunity?

Global Hand Tools Market Report Segment

By Tool Type

  • General Purpose Tools
  • Cutting Tools
  • Layout and Measuring Tools
  • Taps and Dies

By End-User

  • Commercial
  • Industrial
  • Residential

Global Hand Tools Market Report Segment

North America

  • US
  • Canada

Europe

  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Rest of Asia-Pacific

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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