MarketsandMarkets Presents Hand Tools & Woodworking Tools Market with COVID-19 Impact, By Type (Chisels, Hammers, Saws, Pliers, Wrenches, Screwdrivers), Distribution Channel (Online, Offline), End User, and Region - Global Forecast to 2026 The hand tools and woodworking tools market size is expected to grow from USD 8.4 billion in 2021 to USD 10.3 billion by 2026, at a CAGR of 4.0%.
MarketsandMarkets Presents Wrenches and Chisels are estimated to hold the largest market share of the hand tools and woodworking tools market respectively during the forecast period. Wrenches are hand tools that owned the highest market share in hand tools market in 2020 and are expected to dominate the market during the forecast period as well. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=97729312 These wrenches are used to hold standard bolts and nuts firmly and for gripping and turning objects. Wrenches are greatly needed for repairs and maintenance operations in automotive industry and in plumbing and electrification operations, where they are used to turn pipes or for fitting operations.
MarketsandMarkets Presents Online distribution channel for hand tools and woodworking tools market to grow at highest CAGR from 2021 to 2026 Online distribution channel is growing and is expected to grow at the highest growth rate in the market during the forecast period. This channel can be seen changing the way customers shop. They are providing customers with numerous additional benefits such as door-to-door delivery of products and provide an online display of an extensive variety of products and brands to choose from through their online e-commerce platforms. Various third-party distributors sell hand tools on the online platforms.
MarketsandMarkets Presents The mid-and high-level precision GPS receiver market in APAC is expected to grow at the highest CAGR from 2021 to 2026 The growth of the hand tools and woodworking tools market in APAC can be attributed to the rapid industrialization and surging construction activities in the countries such as India, China, Australia, and Japan. Hand tools are highly used in both construction and industrial activities. Even governments from the leading countries are taking initiatives towards developing infrastructural and construction plans and bringing industrial development with the increasing number of industrial plants and manufacturing units.
MarketsandMarkets Presents Few major players operating in hand tools and woodworking tools market. Stanley Black & Decker (US), Apex Tool Group(US), Snap-On Incorporated(US), Techtronic Industries Co. Ltd (China), Klein Tools (US), Husqvarna (Sweden), Akar Auto Industries Ltd. (India), and Hangzhou Great Star Industrial Co. Ltd. (China) Know more @ https://www.marketsandmarkets.com/Market-Reports/hand-woodworking-tools-market-9772 9312.html
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