The United States hand tools market
size is anticipated to register an impressive CAGR during the forecast period. It
is expected that the growing demand for tools with simple controls would
increase tool output, accelerating industry growth. Additionally, the growing
use of the hand tools in the aerospace, automotive, and manufacturing,
metalworking, and other sectors could accelerate industry growth. Additionally,
it is anticipated that increased manufacturing activity will increase sales of
the hand tool Additionally, it is anticipated that the tools' affordability
will draw customers. In the upcoming years, these elements might encourage market
expansion.
The United States hand tools
market refers to the market for hand-held tools used for various applications
such as construction, woodworking, metalworking, and automotive repairs. Hand
tools are manually operated tools that do not require any external power
source, making them versatile, portable, and easy to use.
In order to cut down on time
requirements and boost operational efficiency, tool manufacturers concentrate
on creating high-performance, multifunctional tools. As more sectors use the
product, producers are compelled to create effective and long-lasting tools.
Additionally, the growing development of multipurpose tools is probably going to promote
market growth. Additionally, producers want to provide innovations to draw in
business expansion and increase the use of hand tools. These elements could
fuel the expansion of the hand tool market.
Consumer desire for hand tools
and equipment for repair and modification is being driven by the growing
influence of social media and expert repair tutorials. The need for convenience
furniture and other items with quick assembly and disassembly capabilities is
also significantly driving the demand for hand tools in the US.
The market for hand tools in
the United States is driven by various factors, such as the increasing demand
for do-it-yourself (DIY) activities, the growth of the construction industry,
and the increasing popularity of renovation and remodeling projects.
Additionally, the rise in e-commerce has made it easier for consumers to
purchase hand tools online, contributing to market growth.
The United States hand tools
market is highly competitive with many established brands and manufacturers
competing for market share. Some of the top brands in the United States hand
tools market include Stanley Black & Decker, Inc., Klein Tools, Inc.,
Snap-on Tools Company LLC, Kennametal Inc., and Channellock, Inc., etc.
During the forecast period,
it is also projected that the availability of a wide variety of multifunctional
tools meeting various consumer needs will enhance demand for hand tools in the
United States. Additionally, with the development of technology, manufacturers
are now able to create reliable tools using a variety of raw materials,
including iron, black metal, and steel.
In recent years, the United
States hand tools market has witnessed several product innovations, such as
ergonomic designs that reduce fatigue and increase efficiency, tools with
improved accuracy and durability, and multi-functional tools that can perform
several functions. These innovations have contributed to the growth of the market
by providing users with more efficient and effective tools.
Growing Demand from
Construction Industry Aids Product Demand
Growing demand from the
construction industry also drives the United States hand tools market during
the forecast period. Hand tools such as hammers, saws, wrenches, and pliers are
widely used in the construction industry. As the construction industry grows,
the demand for hand tools also increases in the United States. Therefore, the growing
demand for hand tools in the construction industry for woodworking and
metalworking, etc. drives the growth of the United States hand tools market
during the forecast period.
Increase in Automotive Production
Drives Market Growth
The automotive industry is a
significant consumer of hand tools such as sockets, wrenches, and pliers. With
the increase in automotive production, the demand for hand tools has also
increased which further fuels the United States hand tools market.
Increasing Trend of
Do-It-Yourself Activities Fuels Market Growth
The trend of do-it-yourself
(DIY) activities has been on the rise in the United States in recent years, and
this has had a significant impact on the United States hand tools market. Hand
tools are essential for a wide range of DIY projects, from basic repairs and
maintenance to more complex renovations and upgrades. Hand tools include items
such as hammers, screwdrivers, wrenches, pliers, and saws, among others. As
more and more people take on home improvement and repair projects, the demand
for hand tools has increased, leading to growth in the market. DIY activities
have become increasingly popular due to a number of factors. One of the main
drivers of this trend is the desire to save money. Many people are turning to
DIY activities as a way to avoid the high cost of professional services.
Additionally, the rise of online tutorials and instructional videos has made it
easier for people to learn new skills and take on DIY activities with
confidence. Consumer preferences are changing as a result of the development of
technological solutions such as voice assistance and smart homes. Additionally,
the abundance of knowledge on the internet about almost anything is promoting
the do-it-yourself (DIY) trend, in which customers solve problems on their own
without consulting an expert. Do-it-yourself projects include building, fixing,
and maintaining things around the house or in cars, such as replacing the tires.
As a result, demand for hand tools such as hammers and screwdrivers is rising.
Due to Covid-19 and the subsequent lockdowns has increased the do-it-yourself
tendency. Additionally, the DIY home renovation sector is expanding rapidly,
which is fueling market expansion. The use of home repair tools, equipment, and
appliances is increasing as a result, which is boosting the market growth for
hand tools in the United States.
New Product Launches Fuels
Market Growth
New product launches are an
important driver of growth in the United States hand tools market. As companies
continue to innovate and introduce new products, it is likely that the market
will continue to grow and evolve to meet changing consumer needs and preferences.
New product launches can take many forms, including innovations in technology,
new product features, improvements in product design, and more. In addition,
companies may also launch new products to meet changing consumer needs,
preferences, or trends in the market. American companies are manufacturing new
products for the convenience of the consumers which fuels the demand and growth
of the hand tools market in the United States. For instance, DEWALT launches
the new TOUGHSERIES hand tools which is redefining the standard of tough.
TOUGHSERIES is a brand-new collection of high-end hand tools that stands for
the toughest hand tools. The TOUGHSERIES portfolio, which was created for
heavy-duty use in the most demanding applications, began with tapes and was
followed in the fall by hammers and screwdrivers. TOUGHSERIES hammers are 5X
more robust than prior models, while TOUGHSERIES screwdrivers boast 10X more
corrosion resistance than previous models. TOUGHSERIES tapes feature casing
that withstand a 100-foot drop. Companies invest significant resources in
research and development to create new products that can meet the changing
needs and preferences of consumers. In addition, marketing and advertising
campaigns play a critical role in promoting new products and generating
awareness among consumers. Therefore, the increasing product launches by the
companies in order to fulfill the requirements of the customers fuels the
United States hand tools market growth.
Download Free Sample Report
Market Segmentation
United States hand tools market
is segmented on the basis of product type, application, distribution
channel, region, and company. Based on product type, the market is further
split into wrenches, pliers, screwdrivers, hammers, cutters, and others (clamps
& vices, etc.). Based on application, the market is segmented into industrial,
commercial, and home use (DIY). Based on distribution channels, the market is
segmented into offline and online.
Market Players
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., and Vaughan Manufacturing are the major market players
in the United States hand tools market.
|
Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historic
Data
|
2018 – 2021
|
|
Estimated
Year
|
2023
|
|
Forecast
Period
|
2024 – 2028
|
|
Quantitative
Units
|
Revenue
in USD Million, and CAGR for 2018-2022 and 2023-2028
|
|
Report
Coverage
|
Revenue forecast,
company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
·
Product Type
·
Application
·
Distribution Channel
|
|
Regional
scope
|
South, West, Mid-West,
North-East
|
|
Key
companies profiled
|
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, etc.
|
|
Customization
scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and purchase options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word
format on special request)
|
Report Scope:
In this report, the United States hand tools market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
- United States Hand Tools Market, By Product Type:
- Wrenches
- Pliers
- Screwdrivers
- Hammers
- Cutters
- Others
- United States Hand Tools Market, By Application:
- Industrial
- Commercial
- Home Use (DIY)
·
United States Hand Tools
Market, By
Distribution Channel:
·
United States Hand Tools
Market, By Region:
- South
- West
- Mid-West
- North-East
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in United States hand tools market.
Available Customizations:
With
the given market data, TechSci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
United States Hand Tools Market is an upcoming
report to be released soon. If you wish an early delivery of this report or
want to confirm the date of release, please contact us at [email protected]