A hand tool is any tool that is powered by hand instead of a motor. Different tools include hand tool categories such as pliers, cutters, wrenches, striking tools, screwdrivers, hammered tools, vises, clamps, saws, knives, drills, and more. General-purpose tools include simple tools or fastening tools like screwdrivers, pliers, wrenches, spanners, etc. Metal cutting tools include hacksaws, axe, chisels, etc. Layout and measuring tools comprise tapes, laser measurers, etc. Taps and dies are tools used to create threads. . They can be used as forming tools as well as cutting tools. A tap is used to form or cut the female portion, for example, a nut, whereas a die is used to form or cut the male portion of the mating pair, for example, a bolt.
The demand of hand tools in the automobile market increasing owing to its features such as portability, electricity free operation, low cost and many other. Moreover, growth of automobile market is not hindered by a particular region since the automobile industry is booming across the globe. According to Coherent Market Insights’ analysis, the automotive maintenance and repair sector accounts for 23% of the world’s total hand tools. Furthermore, increasing labor costs are influencing consumers to opt for DIY hand tools for domestic and household repairs. Therefore, these factors are expected to support growth of the global hand tools market in the near future.
Furthermore, increasing industrialization in the world is contributing in the growth of hand tool market. Majority of the time hand tools are used for maintenance and service purposes as these devices are portable. According to Coherent Market Insights’ analysis, among end-use industries account for a 40% share of the global hand tools markets, while professionals such as carpenters, plumbers, automotive maintenance mechanics, and farmers account for the remaining 60% market share. Thus, these factors are expected to drive growth of the global hand tools market in the near future.
This report segments the global hand tools market on the basis of Application, Product Type, Sales Channel, and region. On the basis of Application, the global hand tools market is segmented into Industrial and household and DIY. On the basis of Product Type, the global hand tools market is segmented into General Purpose Tools, Metal Cutting Tools, Layout and Measuring Tools, Taps and Dies. On the basis of Sales Channel, the global hand tools market is segmented into Online Sales, Company Direct Sales, and Distributor Sales. On the basis of region, the global hand tools market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa.
Key features of the study:
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