In the recent past, there has been a notable rise in the number of big manufacturing plants and sectors that rely primarily on hand tools for the purpose of performing maintenance tasks. As a result of the rising demand among industry professionals for professional hand tools, the use of hand tools among workers and laborers is also rising. According to the findings of an investigation conducted by Coherent Market Insights, end-use industries account for a market share of forty percent of the worldwide hand tool markets, while professionals like carpenters, plumbers, automobile maintenance technicians, and farmers account for sixty percent of the market share. As a result of these factors, it is anticipated that the global market for hand tools would experience rise in the not-too-distant future.
The global Hand Tools Market was valued at US$ 16,123.3 Mn in 2019 and is forecast to reach a value of US$ 21,929.0Mn by 2027 at a CAGR of 3.9%% between 2020 and 2027.
Top Companies in the Hand Tools Industry:
1. Apex Tools Group
Apex Tools Group was founded in 2010 and its headquarter in Maryland, United States. The company operates in 330 countries. Apex Tool Group (ATG) is one of the largest manufacturers of professional hand and power tools in the world, serving the industrial, vehicle service
2. Akar Tools Ltd.
Akar Tools Ltd.,founded in 1989, and it’s located in Aurangabad, Maharashtra India. The company operates in 70 countries.
3. Channellock, Inc
Channellock, Inc was launch in 1986 and it’s headquarter located in Pennsylvania, United States.it operate over 45 country .In2023 Channellock, Inc. featured its newest and most innovative hand tools at this year's National Hardware Show.
4 JK Files (India) Limited
QLogic Corporation was launch in 1997 and it’s headquarter located in JK Files (India) Limited.it operate over 100 country.
5. Stanley Black Decker.
Stanley Black Decker founded in 1943, with its headquarters in New Britain, Connecticut, United States .With businesses in over 60 countries.
6 Sears
Sears was launch 1893 and its headquarter Hoffman Estates, Illinois, United States . it operate over 26 country.
7. Wera Tools
Wera Tools founded in 1936, with its headquarters in Wuppertal, Germany. .With businesses in over 78 countries. In 2022 Wera tools' German headquarters and manufacturing facility located in the Czech Republic produce over 4500 tools for both manual and power tool
Definition- A hand tool is any tool that is powered by hand instead of a motor. Different tools include hand tool categories such as pliers, cutters, wrenches, striking tools, screwdrivers, hammered tools, vises, clamps, saws, knives, drills, and more.
