How big is the hand tools market?

Global Hand Tools Market size was valued at USD 28.1 billion in 2021 and is projected to grow from USD 33.74 billion in 2022 to USD 102.42 billion by 2030, exhibiting a CAGR of 14.88% during the forecast period (2023-2030).

What is the biggest tool company?

Largest tool manufacturers by market cap # Name M. Cap 1 Illinois Tool Works 1ITW $75.01 B 2 Techtronic Industries 20669.HK $24.58 B 3 Snap-on 3SNA $14.36 B 4 Stanley Black & Decker 4SWK $13.96 B 3 more rows

Who is the number one tool manufacturer?

TTOP 13 Ranked Power Tools Brands – 2023 Study Ratings 1 Dewalt ★★★★★ 2 Craftsman ★★★★★ 3 Bosch ☆☆☆ 4 Stanley ☆☆☆ 5 Black+Decker ☆☆☆ 8 more rows

What is the demand for hand tools?

Demand for hand tools and accessories is increasing in North America . Rising household repairs and home upgrades in the region and a strong DIYer population are driving up demand for hand tools and accessories. The United States is the largest market in North America. The United States garnered US$ 4.7 billion in 2021.

What is the market for hand tools?

The hand tools market is projected to expand its roots at an average CAGR of 5.8% during the forecast period. The market is likely to hold a revenue of US$ 15.9 billion in 2023 while it is anticipated to cross a value of US$ 27.9 billion by 2033.

How big is the tool industry?

The Global Tools Market size was valued at $91.8 billion in 2022, and is projected to reach $153.2 billion by 2032 , growing at a CAGR of 5.2% from 2023 to 2032. Tools encompass a wide range of manually and externally powered tools such as hand tools, and power tools, including garden tools.

How big is the DIY market?

The global DIY Home Improvement market size was valued at USD 102260.87 million in 2022 and is expected to expand at a CAGR of 3.92% during the forecast period, reaching USD 128759.68 million by 2028.

Global Hand Tools Market Report and Forecast 2024-2032 (2024)

Global Hand Tools Market Outlook

The global hand tools market attained a value of about USD 24.65 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.4% to reach nearly USD 39.39 billion by 2032.

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North America Holds a Significant Share of the Hand Tools Industry

North America accounts for a significant share of the market owing to the rising use of hand tools in domestic and DIY uses. The rising labour cost in the region is increasing the trend of independent services, hence aiding the market growth. In addition, increasing home ownership owing to inflating disposable income, especially among the young population, is increasing the demand for hand tools. The growing house age in the United States is surging home improvement and renovation activities, which is significantly contributing to the market growth. Moreover, the Asia Pacific region is also witnessing rapid growth owing to the escalating construction and infrastructure activities. The initiation of infrastructure projects by various governments in the region is boosting the growth of hand tools industry.

The rising use of hand tools in the automotive sector for maintenance and repair of automobiles is aiding the industry growth. Hand tools such as wrenches are extensively used to take out components from used and junk vehicles for reusing and recycling purposes. As automobile maintenance requires the use of tools in tight spaces, hand tools are increasingly used owing to their portability and convenience. Moreover, the development of hand tools that specifically adhere to automotive repair and maintenance by the leading companies is anticipated to fuel the market growth for hand tools in the forecast period.

Hand Tools: Market Segmentation

Hand tools are tools that are implemented for manual operations, such as sawing, forging, chopping, and filling, among others. They are generally used on the material to shape it in the desired form by using mechanical strength. They are cost-effective and efficient for various applications in the industrial sector.

Trend of Do-It-Yourself Activities to Bolster the Market Growth for Hand Tools

The trend of technological solutions such as voice assistance and smart homes are evolving consumers preferences. Moreover, the plethora of information available on the internet about almost everything is boosting the practice of do-it-yourself (DIY) through which consumers solve problems independently without an expert. Do-it-yourself involves construction, repair, and maintenance ranging from changing the tyres of vehicles to home renovation. This is increasing the demand for hand tools such as hammers and screw drivers. The coronavirus pandemic has accelerated the trend of do-it-yourself owing to stay-at-home orders. In addition, the robust growth of the DIY home improvement industry is propelling the market growth. This, in turn, is escalating the use of home improvement tools, equipment, and appliances, therefore augmenting the market growth for hand tools.

The development of advanced and innovative hand tools while enhancing their durability is expected to invigorate the market growth. The integration of wrench and screw drivers in one tool for use in a project that requires switching from bolts to screws conveniently is also bolstering the market growth. The manufacturing of pilers using laser-treated cutting-edge technology while featuring a rust preventive coating to increase durability is anticipated to augment the growth of the hand tools industry. In addition, the sustainability of hand tools is increasing their demand in various industries, consequently invigorating the market growth. The production of hand tools with new topics to enhance durability and convenience is anticipated to drive the market growth in the forecast period.

Key Industry Players in the Global Hand Tools Market

The report presents a detailed analysis of the following key players in the global hand tools market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

Akar Tools Limited
Apex Tool Group, LLC
Channellock, Inc.
JCBL Group
Klein Tools, Inc.
Emerson Electric Co.
Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Scope of the Report	Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment: Type End User Distribution Channel Region
Breakup by Type	Wrench Plier Screw Drivers Hammers Cable Cutter Others
Breakup by End User	DIY Professional Industrial Others
Breakup by Distribution Channel	Retail Online
Breakup by Region	North America United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOTAnalysis Porter's Five ForcesAnalysis Key Indicators for Demand Key Indicators for Price
Competitive Landscape	Market Structure Company Profiles Company Overview Product Portfolio Demographic Reach and Achievements Certifications
Companies Covered	Akar Tools Limited Apex Tool Group, LLC Channellock, Inc. JCBL Group Klein Tools, Inc. Emerson Electric Co. Others
Report Price and Purchase Option	Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format	Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Hand Tools MarketAnalysis
8.1 Key Industry Highlights
8.2 Global Hand Tools Historical Market (2018-2023)
8.3 Global Hand Tools Market Forecast (2024-2032)
8.4 Global Hand Tools Market by Type
8.4.1 Wrench
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Plier
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Screw Drivers
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Hammers
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Cable Cutter
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Hand Tools Market by End User
8.5.1 DIY
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Professional
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Industrial
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Hand Tools Market by Distribution Channel
8.6.1 Retail
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Online
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Hand Tools Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Hand Tools Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Hand Tools Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Hand Tools Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Hand Tools Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Hand Tools Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code - 8205)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Akar Tools Limited
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Apex Tool Group, LLC
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Channellock, Inc.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 JCBL Group
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Klein Tools, Inc.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Emerson Electric Co.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Others
19 Key Trends and Developments in the Market

Additional Customisations Available

1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment

List of Key Figures and Tables

1. Global Hand Tools Market: Key Industry Highlights, 2018 and 2032
2. Global Hand Tools Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Hand Tools Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Hand Tools Historical Market: Breakup by End User (USD Billion), 2018-2023
5. Global Hand Tools Market Forecast: Breakup by End User (USD Billion), 2024-2032
6. Global Hand Tools Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7. Global Hand Tools Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8. Global Hand Tools Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Hand Tools Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Hand Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Hand Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Hand Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Hand Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Hand Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Hand Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Hand Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Hand Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Hand Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Hand Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. North America Historical Price Trends and Forecast 2018-2028
25. Europe Historical Price Trends and Forecast 2018-2028
26. Asia Pacific Historical Price Trends and Forecast 2018-2028
27. Latin America Historical Price Trends and Forecast 2018-2028
28. Middle East and Africa Historical Price Trends and Forecast 2018-2028
29. Global Hand Tools Market Structure