A hand tool pertains to a manually operated implement, devoid of motorized propulsion. The taxonomy of hand tools encompasses diverse categories, including but not limited to pliers, cutters, wrenches, striking tools, screwdrivers, hammers, vises, clamps, saws, knives, drills, and others. Within this spectrum, general-purpose tools encompass elementary implements like screwdrivers, pliers, wrenches, and spanners used for fastening purposes. Metal cutting tools entail devices like hacksaws, axes, and chisels. Layout and measuring tools comprise items such as tapes and laser measurers. Taps and dies, on the other hand, function to create threads and can serve both as forming and cutting tools. A tap crafts or incises the female element (e.g., a nut), while a die shapes or incises the male counterpart (e.g., a bolt) of the mating ensemble.

Market Dynamics

The escalating demand for hand tools within the automotive sector stems from their attributes like portability, absence of electricity dependency, cost-effectiveness, and others. Notably, the automotive industry's expansion transcends geographical confines, fostering demand universally. An analysis by Coherent Market Insights reveals that the automotive maintenance and repair segment constitutes 23% of the global hand tools arena. Furthermore, rising labor expenses propel consumers toward DIY (Do it yourself) hand tools for domestic fixes. This confluence of factors is poised to drive the global hand tools market growth.

Furthermore, the burgeoning global industrialization bolsters the global hand tools market growth. Hand tools are predominantly employed for maintenance and servicing due to their portability. Coherent Market Insights' analysis indicates that end-use sectors contribute to a 40% share of the global hand tools market, with professionals including carpenters, plumbers, automotive maintenance personnel, and farmers constituting the remaining 60%. This dynamic is anticipated to propel the global hand tools market expansion in the coming period.  

Key Features of the Study

• This report provides an in-depth analysis of the global hand tools market with market size (US$ Billion) and CAGR (%) over the forecast period: 2023 - 2030, considering 2022 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by leading players
• It profiles leading players in the global hand tools market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
• The key companies covered as part of this study include Kennametal Inc., Apex Tools Group, Akar Tools Ltd., Channellock, Inc., JK Files (India) Limited, Stanley Black Decker, Sears, Wera Tools, Snap-On, Irwin Industrial Tools, and Klein Tools
• Insights from this report will allow marketers and management authorities of companies to make informed decisions with respect to future product launches, technology upgrades, market expansion, and marketing tactics
• Various strategy matrices used in analyzing the global hand tools market would provide stakeholders with vital inputs to make strategic decisions accordingly

Detailed Segmentation:

• Global Hand Tools Market, By Application:
  • Industrial
  • Household and DIY
• Global Hand Tools Market, By Product Type:
  • General Purpose Tools
  • Metal Cutting Tools
  • Layout and Measuring Tools
  • Taps and Dies
• Global Hand Tools Market, By Sales Channel:
  • Online Sales
  • Company Direct Sales
  • Distributor Sales
• Global Hand Tools Market, By Region:
  • North America
    
    • U.S.
    • Canada
  •  Europe
    
    • Germany
    • Italy
    • U.K.
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    
    • China
    • Japan
    • Australia
    • India
    • ASEAN
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East and Africa
    
    • GCC Countries
    • Israel
    • South Africa
    • Rest of Middle East and Africa
• Company Profiles
  • Kennametal Inc.
  • Apex Tools Group
  • Akar Tools Ltd.
  • Channellock, Inc.
  • JK Files (India) Limited
  • Stanley Black Decker
  • Sears
  • Wera Tools
  • Snap-On
  • Irwin Industrial Tools
  • Klein Tools