Hand Tools & Woodworking Tools Market Forecasts to 2028 – Global Analysis By Woodworking Tools (Saws, Pliers), Hand Tools (Snips, Knives, Pry Bars), End User (DIY, Professional), Distribution Channel (Online, Retail) and By Geography
According to Stratistics MRC, the Global Hand Tools & Woodworking Tools Market is accounted for $8.08 billion in 2020 and is expected to reach $12.87 billion by 2028 growing at a CAGR of 6.0% during the forecast period. Increasing commercial as well as residential construction, adoption of hand tools in households, increasing repair and maintenance operations are driving the market growth. However, increase in safety risks and concerns, and the lack of all-specification/dimension hand tools are hampering the growth of the market.
Hand tools are any tools that are powered by hand rather than a motor and are very essential for day-to-day jobs. Hand tools are of many types and can be used for any kind of work. Some tools are versatile and some of them are specifically used for a specific job. Woodworking tools are used in the skill of making items from wood. The woodworking materials are used for buildings, transportation, tools, and household items. Each area of woodworking requires a different variation of tools. Power tools and hand tools mostly are used for woodworking.
Based on the distribution channel, the online segment is going to have lucrative growth during the forecast period since online channels are changing the way customers shop and the online platforms enable many hand tool and woodworking manufacturers to sell their products directly to the end users. They provide customers with various benefits such as door-to-door delivery of products and provide an online display of an extensive variety of products and brands to choose.
By geography, Asia Pacific is going to have high growth during the forecast period owing to the surging construction activities and increasing industrialization in the countries such as India, China, and Japan as hand tools are highly used in both construction and industrial activities.
Some of the key players profiled in the Hand Tools & Woodworking Tools Market include Akar Auto Industries Ltd., Apex Tool Group, Hangzhou Great Star Industrial Co. Ltd., Husqvarna, Snap-On Incorporated, Stanley Black & Decker and Techtronic Industries Co. Ltd.
Woodworking Tools Covered:
• Other Woodworking Tools
Hand Tools Covered:
• Hex Keys and Nut Drivers
• Knives and Blades
• Fastening Tools
• Measuring and Layout Tools
• Demolition Tools (Wrecking Bars/Crowbars/Pry Bars)
End Users Covered:
• Residential/Do It Yourself (DIY)
Distribution Channels Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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