The industry is predicted to be fueled by the creation of advanced and creative hand tools, the rise in do-it-yourself activities, and the production of hand tools made with cutting-edge technology.
According to TechSci Research report, “United States Hand Tools Market- By Region, Competition Forecast and Opportunities, 2018-2028”, , US hand tools market has expanded significantly in recent years. Any tool that is powered by hand rather than a motor is referred to as a hand tool. A variety of tools are available, including saws, knives, drills, vises, clamps, pliers, cutters, wrenches, screwdrivers, striking tools, and more. Rakes, garden forks, and pruning shakes are further outdoor equipment. Tools for layout and measurement include tapes, laser measurers, etc. Threads are made using equipment called taps and dies.
The growth of the hand tools market is primarily being driven by the rising number of building projects and the rising demand for repair and maintenance work nationally. The country's government is trying to implement numerous programs to support the construction of roads, airports, and energy utilities. In keeping with this, the expanding need for portable and light-weight tools for fixing cars has helped the extensive use of numerous hand tools in the automotive industry. This, in turn, is serving as another component that promotes growth.
The development of the industry is also being aided by continuing technological advancements and the introduction of practical, modern tool kits with rust-prevention coatings. Additionally, the widespread use of hand tools for building, maintaining, and repairing various objects has increased as a result of the do-it-yourself (DIY) trend that is currently popular, particularly during the global outbreak of the COVID-19 pandemic and the subsequent implementation of mandatory lockdowns, which is assisting the market's expansion.
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The United States hand tools market is segmented on the basis of product type, application, distribution channel, and region.
Based on product type, the market is further segmented into wrenches, pliers, screwdrivers, hammers, cutters, and others (clamps & vices, etc.). Among these, the wrenches segment holds the leading share in the market during the forecast period. These wrenches are used to tighten common bolts and nuts as well as grasp and spin various items. Wrenches are necessary to finish fitting operations in the plumbing and electrical industries, as well as the automobile industry.
Based on application, the market is segmented into industrial, commercial, and home use (DIY). Among these, the industrial segment holds the leading share in the market during the forecast period. However, the industrial sector is expected to advance quickly relative to the market. Throughout the full season of market projections, critical hand tool utilization in the cutting-edge sector will deliver an unmistakable slice of the pie. The automobile repair and maintenance industry's growing use are helping the current area's rapid improvement to some extent.
Based on distribution channels, the market is segmented into offline and online. Among these, the online segment is expected to be the fastest growing segment in the market during the forecast period as they provide customers with a number of extra services, including doorstep delivery of products and online brand displays on various e-commerce platforms. As a result, customers may compare, evaluate, investigate, and select the best hand tool for their requirements. These internet platforms have allowed a lot of hand tool manufacturers to sell their products directly to consumers.
Based on region, the market is segmented into South, West, Mid-West, North-East. Among these, the Mid-West region holds the leading share in the market during the forecast period owing to the increasing the availability of hand tools in the region, which fuels the demand for the hand tools market in US.
Major operating companies operating in the United States Hand Tools Market are:
- 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
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“The production of cutting-edge, inventive hand tools while boosting their toughness is anticipated to promote market expansion. Another factor supporting the market's expansion is the combination of a wrench and a screwdriver in a single instrument for use in projects that necessitate quickly moving from bolts to screws. It is projected that the production of locking pliers employing cutting-edge laser technology and incorporating a rust-preventive coating to boost longevity would accelerate the growth of the hand tool sector in the US. Moreover, the sustainability of hand tools is boosting their demand across a range of industries, which is fueling market expansion. During the projected period, it is expected that the manufacture of hand tools with new features is expected to improve durability and convenience would drive market expansion in the United States,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
United States Hand Tools Market By Product Type (Wrenches, Pliers, Screwdrivers, Hammers, Cutters, and Others (Clamps & Vices, etc.)), By Application (Industrial, Commercial, and Home Use (DIY)), By Distribution Channel (Offline Vs. Online), By Region, By Company, Forecast & Opportunities, 2018-2028, has evaluated the future growth potential of the US hand tools market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the hand tools market in the United States.