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Hand Tools Market: Recent Industry Developments and Growth Strategies Adopted by Players

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 2014u20132018 and opportunity assessment for 2019u20132029. 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.<br>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.<br>North Americau2019s hand Tools Market to Witness Significant Growth<br>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.<br>

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Hand Tools Market: Recent Industry Developments and Growth Strategies Adopted by Players

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  1. Hand Tools Market www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights © 2019 Future Market Insights, All Rights Reserved February 2020 Report Id : REP-GB-1114 Published On : October-2019 Category : Industrial Automation and Equipment

  2. AboutFuture Market Insights Future Market Insights (FMI) is a premier provider of syndicated research reports, custom research reports, and consulting services. We deliver a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, aerial view of the competitive framework, and future market trends. We provide research services at a global as well as regional level; key regions include GCC, ASEAN, and BRIC. Our offerings cover a broad spectrum of industries including Chemicals, Materials, Energy, Technology, Healthcare, and Retail. We have a global presence with delivery centers across India specializing in providing global research reports and country research reports. FMI is headquartered out of London, U.K., with a state-of-the-art delivery center located in Pune, India. We combine our knowledge and learning from every corner of the world to distill it to one thing – the perfect solution for our client. Research Capabilities Sector Coverage • Customized Research • Syndicated Research • Investment Research • Social Media Research • Automotive and Transportation • Electronics, Semiconductor, and ICT • Retail and Consumer Products • Industrial Automation and Equipment • Chemicals & Materials • Food and Beverages • Services and Utilities • Energy, Mining, Oil, and Gas Customized Research Syndicated Research Investment Research Social Media Research Subscription Information For detailed subscription information please contact Hari. T (Sr. Manager - Global Business Development) T: +44 (0) 20 7692 8790 | D: +44 20 3287 4268 Email: hari.t@futuremarketinsights.com

  3. Research Methodology (1/2) Research & Intelligence Data Collection Actionable Insights Data Filter & Analysis Business Solution 1 Market profiling 2 Formulating discussion guide • Identifying key opinion leaders • Questionnaire design • In-depth interviews • Coverage across value chain 3 A Developing list of respondents • Key industry experts • Channel study • Developments • Market dynamics • Products • Conclusions Primary Research 4 SOLUTION Data collection • Market participants • Key strengths • Product portfolio • Mapping as per value chain • Key focus segments B 5 Desk Research Data validation 6 C Data analysis Primary Research # • Secondary Research # • Paid Publications# Company Analysis • Linkedin • Zoominfo • Salesforce • Avention • Company websites • Company annual reports • White papers • Financial reports • Factiva • GBI • Genios • Meltwater 7 Insights Systematic Research Approach # includes sources of databases

  4. Hand Tools MarketAnalysis 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.

  5. 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.

  6. 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-Tools-Market-is-estimated-to-grow-at-a-CAGR-of-4-over-the-forecast-period-of-2019-to-2029-Future-Market-Insights.html

  7. Hand Tools Market Analysis Contact Us Mr. Abhishek Budholiya 616 Corporate Way, Suite 2-9018, Valley Cottage, NY 10989, United States T: +1-347-918-3531 F: +1-845-579-5705 T (UK): +44(0)20-7692-8790

  8. Hand Tools Market Analysis Sales: sales@futuremarketinsights.com

  9. To know more about us, please visit our website: www.futuremarketinsights.com For sales queries or new topics email us on: sales@futuremarketinsights.com For media queries, contact the press office at press@futuremarketinsights.com For other queries contact:Hari. T (Sr. Manager - Global Business Development) Future Market Insights: 3rd Floor,207 Regent Street, London W1B 3HH T: +44 20 7692 8790 | D: +44 20 3287 4268 Email: hari.t@futuremarketinsights.com Thank You Future Market Insights Global & Consulting Private Limited (FMI)

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