Hand Tools Market February 2020
Report Id : REP-GB-1114 Published On : October-2019 Category : Industrial Automation and Equipment www.futuremarketinsights.com I
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Research Methodology (1/2) Systematic Research Approach 1 Market profiling
2 Formulating discussion guide
3 Developing list of respondents
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In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc. PMR formulates a detailed discussion guide to conduct expert and industry interviews PMR develops a list of industry players (manufacturers), distributors, retailers and industry experts
Data collection
PMR conducts interviews with industry experts, industry players, distributors and retailers
Data validation
Data is validated by triangulation method, wherein secondary, primary and PMR analysis contribute to the final data
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Data analysis
Insights
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Data is scrutinized using MS-Excel to obtain qualitative and quantitative insights about the industry PMR delivers industry insights and information in the required format (PDF)
Data Collection
Research & Intelligence
Data Filter & Analysis
Identifying key opinion leaders Questionnaire design In-depth interviews Coverage across value chain
Actionable Insights
A Primary Research
B SOLUTION
Market participants Key strengths Product portfolio Mapping as per value chain Key focus segments
Primary Research #
Linkedin Zoominfo Salesforce Avention
Business Solution
Desk Research
C
Key industry experts Channel study Developments Market dynamics Products Conclusions
Company Analysis
Secondary Research #
Company websites Company annual reports White papers Financial reports
Paid Publications#
Factiva GBI Genios Meltwater
# includes sources of databases
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Hand Tools Market Analysis VALLEY COTTAGE, N.Y.(GLOBE NEWSWIRE) -- Future Market Insights (FMI) has recently released a research intelligence report with deep-dive analysis on the hand tools market that offers global industry analysis for 2014–2018 and opportunity assessment for 2019–2029. The hand tools market was valued at ~US$ 16 Bn in 2018, and is projected to grow notably at a CAGR of ~4% over the forecast period. This growth is primarily driven by increasing customer preference for do-it-yourself activities and rising disposable incomes. As per the study, the hand tools market is anticipated to witness moderate growth during the forecast period owing to rapid growth of the global automotive market, which in turn pushes the demand for hand tools and related products. North America’s hand Tools Market to Witness Significant Growth North America is likely to present significant opportunities for the growth of hand tools market owing to factors such as proliferation in four vehicle fleet and rising disposable incomes of consumers in the U.S. and Canada. The region accounts for a maximum number of people carrying their own tool kits and using hand tools for household applications.
In the U.S. and Canada, according to per capita checks, there is high consumer inclination towards leisure and recreational activities, which is driving market growth. Propensity of following countries towards hand tools is creating further growth opportunities for the hand tools market during the forecast period. www.futuremarketinsights.com I
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Hand Tools Market Analysis Global Industrial Expansion Bolstering Demand The global hand tools market has been segmented based on product type, sales channel, application, and regions, such as North America, Latin America, Western Europe, Eastern Europe, APEJ, MEA, and Japan.
Owing to factors such as rise in the number of manufacturing plants and construction industries that require the use of hand tools for maintenance and repair activities, the demand for specialized hand tool kits is forecasted to rise. For instance, among end users, industries account for 40% share of the global hand tools market, while professionals such as carpenters, plumbers, automotive maintenance mechanics, and farmers account for the remaining 60% market share. Hand Tools Enjoying Increased Demand for Domestic Activities With rapid growth of the global automobile market, maintenance and repair of automobiles that require high-end precision hand tools is also increasing. Growth of the hand tool market is not restricted to a particular region, as the automobile industry is thriving globally. In addition to this, rapidly increasing labor costs are compelling consumers to prefer DIY hand tools for domestic & household activities.
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Hand Tools Market Analysis The automotive maintenance and repair sector accounts for 23% of the world’s total hand tools. Moreover, increasing consumer spending ability and per capita disposable incomes are major factors pushing market growth. For instance, in 2015, the per capita disposable income of consumers witnessed a compound growth of 1.5%, globally, thereby increasing their spending abilities. Hand Tools Market: Vendor Insights The report highpoints few of the key market players, who have recognized themselves as global influencers in the hand tools market. Few examples of key players in the market are Akar Tools Limited, Apex Tool Group, Channellock, Inc., JK Files (India) Limited, Kennametal Inc., Klein Tools Inc., Snap-On Incorporated, Stanley Black and Decker, and Wera Tools.Tier-1 players are focusing on mergers, acquisitions, and joint ventures with local market players and deploying advancements in hand tools to achieve positive traction and healthy competitive advantage over their contemporaries. Source: https://www.globenewswire.com/news-release/2019/10/09/1927296/0/en/Hand-ToolsMarket-is-estimated-to-grow-at-a-CAGR-of-4-over-the-forecast-period-of-2019-to-2029-Future-MarketInsights.html
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Hand Tools Market Analysis Contact Us Mr. Abhishek Budholiya
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