Global Industrial Hand Tools Market Expected to Grow Significantly: Expanding Automotive Aftermarket Creates High Demand

Published on : Feb 26, 2018

Albany, New York, February 26, 2018: Hand tools are among the most common equipment and their proper use entails safety to an individual. Today hand tools and the like are being used by almost every industry, especially the ones that work with wood. Market Research Hub (MRH) has freshly announced the addition of a study titled “Industrial Hand Tools Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026” to its wide repository, which offers a comprehensive overview of this rapidly expanding market and allows readers to understand the market current situation along with its future growth prospects.

Presently, there has been a significant increase in the number of huge manufacturing plants and industries worldwide, where hand tools are widely employed for various activities. With the gradual rise in the industrial sector, adoption of professional hand toolkits is witnessing a surge. This as a result propelling the market growth of industrial hand tools. According to the study key findings, the global industrial hand tools market projected to gain impressive growth during the forecast period, 2017 to 2026. Besides, sales of industrial hand tools around the world are assessed to bring in roughly US$ 14,000 Mn revenues by 2026-end.

Research Offerings

This 170-page precise study provides a holistic outlook on the industrial hand tools market growth throughout the above mentioned forecast period in terms of revenue (in US$ Mn), and volume (in Thousand Units), across different geographies, comprising Asia Pacific, South America, North America, Europe, and Middle East & Africa (MEA). The report covers all the major trends playing a crucial role in the industrial hand tools market growth over the forecast period. It further highlights the drivers, restraints and opportunities expected to influence the market growth during this period.

Moreover, the report provides a competitive landscape of the market, thereby listing out all the major players according to their geographic presence, market attractiveness and recent key developments. At present, prime players functioning worldwide include Klein Tools, Xinapse Systems Ltd, Siemens Healthineers, Wera Tools, Toshiba Medical Systems Corporation, Mirada Medical Limited, Sciencesoft USA Corporation, Apex Tools Group, Mim Software, Inc., Kennametal Inc., Stanley Black Decker, Snap-On, JK Files (India) Limited, Channellock, Inc., and Akar Tools Ltd.

Key takeaways from the study-

  • On the basis of geography, analysts find that North America will continue to be the most remunerative market for industrial hand tools, trailed by Europe. The Market in Asia-Pacific excluding Japan (APEJ) is also expected to remain lucrative in the coming years.
  • With the increased popularity of online shopping, industrial hand tools manufacturers have commenced making changes in their retail strategies, and have been adopting omni-retail channels. This could also impact market growth positively.
  • Increasing automotive repair and maintenance activities is considered to be one of the major factors driving demand for industrial hand tools.
  • Among various product type, General purpose tools will continue to be preferred among products in the market.

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