United States Hand Tools Market to be Dominated by Wrenches During the Forecast Period
The industry is
predicted to be fueled by the creation of advanced and creative hand tools, the
rise in do-it-yourself activities, and the production of hand tools made with
cutting-edge technology.
According to TechSci Research report, “United States Hand Tools Market- By Region, Competition
Forecast and Opportunities, 2018-2028”, , US hand tools market has
expanded significantly in recent years. Any tool that is powered by hand rather than a
motor is referred to as a hand tool. A variety of tools are available,
including saws, knives, drills, vises, clamps, pliers, cutters, wrenches,
screwdrivers, striking tools, and more. Rakes, garden forks, and pruning shakes
are further outdoor equipment. Tools for layout and measurement include tapes,
laser measurers, etc. Threads are made using equipment called taps and dies.
The growth of the hand tools market is primarily
being driven by the rising number of building projects and the rising demand
for repair and maintenance work nationally. The country's government is trying
to implement numerous programs to support the construction of roads, airports,
and energy utilities. In keeping with this, the expanding need for portable and
light-weight tools for fixing cars has helped the extensive use of numerous
hand tools in the automotive industry. This, in turn, is serving as another
component that promotes growth.
The development of the
industry is also being aided by continuing technological advancements and the
introduction of practical, modern tool kits with rust-prevention coatings.
Additionally, the widespread use of hand tools for building, maintaining, and repairing
various objects has increased as a result of the do-it-yourself (DIY) trend
that is currently popular, particularly during the global outbreak of the
COVID-19 pandemic and the subsequent implementation of mandatory lockdowns,
which is assisting the market's expansion.
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The United States hand tools
market is segmented on the basis of product type, application, distribution
channel, and region.
Based on product type, the
market is further segmented into wrenches, pliers, screwdrivers, hammers, cutters,
and others (clamps & vices, etc.). Among these, the wrenches segment holds
the leading share in the market during the forecast period. These wrenches are
used to tighten common bolts and nuts as well as grasp and spin various items.
Wrenches are necessary to finish fitting operations in the plumbing and
electrical industries, as well as the automobile industry.
Based on application, the market is segmented into industrial, commercial,
and home use (DIY). Among these, the industrial segment holds the leading share
in the market during the forecast period. However, the industrial sector is
expected to advance quickly relative to the market. Throughout the full season
of market projections, critical hand tool utilization in the cutting-edge
sector will deliver an unmistakable slice of the pie. The automobile repair and
maintenance industry's growing use are helping the current area's rapid
improvement to some extent.
Based on distribution
channels, the market is segmented into offline and online. Among these, the online
segment is expected to be the fastest growing segment in the market during the
forecast period as they provide customers with a number of extra services,
including doorstep delivery of products and online brand displays on various
e-commerce platforms. As a result, customers may compare, evaluate,
investigate, and select the best hand tool for their requirements. These
internet platforms have allowed a lot of hand tool manufacturers to sell their
products directly to consumers.
Based on region, the market
is segmented into South, West, Mid-West, North-East. Among these, the Mid-West
region holds the leading share in the market during the forecast period owing to
the increasing the availability of hand tools in the region, which fuels the
demand for the hand tools market in US.
Major operating companies operating in the
United States Hand Tools Market are:
- Stanley
Black & Decker, Inc.
- Klein
Tools, Inc.
- Snap-on
Tools Company LLC
- Kennametal
Inc.
- Channellock,
Inc.
- JPW
Industries Inc.
- IDEAL
Industries Inc.
- CS
Unitec, Inc.
- Reed
Manufacturing Co.
- Vaughan
Manufacturing
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“The production of cutting-edge,
inventive hand tools while boosting their toughness is anticipated to promote
market expansion. Another factor supporting the market's expansion is the
combination of a wrench and a screwdriver in a single instrument for use in
projects that necessitate quickly moving from bolts to screws. It is projected
that the production of locking pliers employing cutting-edge laser technology
and incorporating a rust-preventive coating to boost longevity would accelerate
the growth of the hand tool sector in the US. Moreover, the sustainability of
hand tools is boosting their demand across a range of industries, which is
fueling market expansion. During the projected period, it is expected that the
manufacture of hand tools with new features is expected to improve durability
and convenience would drive market expansion in the United States,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
United
States Hand Tools Market By Product Type (Wrenches, Pliers, Screwdrivers,
Hammers, Cutters, and Others (Clamps & Vices, etc.)), By Application
(Industrial, Commercial, and Home Use (DIY)), By Distribution Channel (Offline
Vs. Online), By Region, By Company, Forecast &
Opportunities, 2018-2028,
has evaluated the
future growth potential of the US hand tools market and provides statistics
& information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the hand tools market in the United States.
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