DUBLIN, Jan. 28, 2020 /PRNewswire/ -- The "Hand Tools and Accessories - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Hand Tools and Accessories market, worldwide, is projected to grow by US$5.4 Billion, driven by a compounded growth of 3.6%.
Mechanics' Service Tools, one of the segments analyzed and sized in this study, displays the potential to grow at over 3.8%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$12.9 Billion by the year 2025, Mechanics' Service Tools will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the United States will maintain a 3% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$215.3 Million to the region's size and clout in the next 5 to 6 years. Over US$298.4 Million worth of projected demand in the region will come from Rest of Europe markets.
In Japan, Mechanics' Service Tools will reach a market size of US$1.1 Billion by the close of the analysis period. As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 5.4% over the next couple of years and add approximately US$933.2 Million in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East.
All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Key Topics Covered
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Industry Background
- Evolution of the Industry
- Hand Tools Remain Vital in the Modern Mechanical Era
- A Secure Niche for Hand Tools, Despite the Growing Threat of Powered Tools: Percentage Share Breakdown of Hand Tools and Power Tools in the Global Tools Market for the Year 2019
- Stable Outlook Governs Future Prospects in the Hand Tools Market
- Global Economic Outlook: Real GDP Growth Rates in % by Country/Region forthe Years 2017 through 2020
- Developing Markets: The Focal Point for Future Growth
- Hand Tools and Accessories Competitor Market Share Scenario Worldwide (in %): 2019
- Product Profile
- Mechanics' Service Tools
- Edge Tools
- Paint & Masonry Tools
- Other Segments
- Different Designs & Features for Different Regions
2. FOCUS ON SELECT PLAYERS
- Akar Tools Ltd. (India)
- Apex Tool Group (USA)
- Channellock Inc. (USA)
- Emerson Electric Co. (USA)
- Greenlee (USA)
- Gray Tools Canada Inc. (Canada)
- Ideal Industries, Inc. (USA)
- Irwin Tools (USA)
- J.K. Files (India) Limited (India)
- Kennametal Inc. (USA)
- Klein Tools Inc. (USA)
- Leatherman Tool Group, Inc. (USA)
- Milwaukee Electric Tool Corporation (USA)
- Ningbo Great Wall Precision Industrial Co., Ltd. (China)
- Pilana Tools Group (Czech Republic)
- Snap-On Incorporated (USA)
- Stanley Black & Decker (USA)
- Techtronic Industries Co. Ltd. (USA)
- Wera Tools (Germany)
3. MARKET TRENDS & DRIVERS
- Occupational Ergonomics: The Primary Factor Driving Innovation in the Hand Tools Market
- Growing Incidence of Work-Related Musculoskeletal Disorders (MSDs) Drives the Emphasis on Ergonomically Designed Hand Tools: Number of MSDs in the United States Per 10,000 Full Time Workers by Industry Sector for the Year 2018
- Multitask Hand Tools Grow in Prominence
- APEX BOLT Action Titanium Pen, the Next Generation Tactical Multi-Tool Pen from ZEROHOUR
- Focus on Productivity in Lightweight Manufacturing to Spur Demand for Intelligently Designed Hand Tools
- Non-Magnetic and Non-Sparking Hand Tools Make Perfect Sense for High Energy and Electrical Component Applications
- As Competition Heats up, Companies Keep Afloat with Product Innovations
- Bionic Grip from LoggerHead Tools
- Dewalt's DWHT56148 Engineering Hammer
- Douglas Tools' TC20-DP Framing Hammer
- Klecker Knives' Klax Lumberjack Axe Head
- Leveraxe Axe
- Sven-Saw, an Ergonomically Designed Cutting Tool
- Shovel Blades from Hisco
- Mechanics' Service Tools: The Largest Product Market to Witness Strong Growth
- Strong Demand for Automotive Repair & Maintenance Services Drives Growth of Vehicle Mechanics Tools
- Robustly Growing Automotive Repair & Maintenance Services Market Ranks as a Positive Macro Trend Driving Demand for Mechanics' Service Tools in the Automotive Sector: Global Market for Automotive Repair and Maintenance Services (In US$ Billion) by Segment for the Years 2018, 2020 and 2022
- Growth in Aircraft MRO Expands the Addressable Market for Aviation General Mechanic's Tools
- Projected Increase in Aircraft MRO to Spur Demand Opportunities for Aviation Hand Tools: Global MRO Spending (In US$ Billion) by Segment for the Years 2019 & 2024
- Machinery Maintenance & Heavy Equipment Repair Drives Demand for Mechanic's Service Tools in the Industrial Sector
- Aging Plant Machinery with Heavy Repair & Maintenance Burden to Spur Opportunities for Hand Tools Used in the Industrial Sector: Average Age of Industrial Equipment (In Years) in the Private Sector in the United States for the Years 1980, 2000 and 2018
- Growth of World Construction Industry Higher than Global GDP, Spells Opportunities for Hand Tools Used by Construction Workers
- Projected Increase in Construction Investments & a Parallel Expansion in Construction Workforce to Spur Demand for Construction Hand Tools: World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
- Rise in D.I.Y Home Improvement, Gardening and Landscaping Projects to Spur Growth in the Hand Tools Market
- Growing Prominence of Do-It-Yourself (DIY) Culture Provides a Firm Growth Platform for Hand Tools in the Consumer Market: Global DIY/Home Improvement Turnover (In US$ Billion) for Years 2016, 2018 & 2020
- Average Cost, Savings & Return on Investment (ROI) on DIY Home Improvement Projects in the United States
- Global Hand Tools Purchases in the Consumer Segment (2019): Percentage Breakdown by Age Group
- Intelligent CAD Technology Enables the Development of Ergonomically Designed Hand Tools
- E-Retailing Expands Growth Opportunities
- Factors Influencing Online Purchase Decision - Percentage Share Breakdown by Consumer Preferences
- Growing Competition from Power Tools: A Market Dampener
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Acha Herramientas De Precision, Sl
- Adolf Wurth Gmbh & Co. Kg
- Aimco Global
- Ajax Tool Works
- Akar Auto Tools Ltd.
- Alltrade Tools Llc
- Alyco Tools Sa
- Andreas Maier Gmbh & Co. Kg
- Apex Tool Group
- ASW - Andreas Heuel Gmbh
- Atlas Copco Ab
- August Graef Gnu Gmbh
- Augusta-Heckenrose Werkzeugfabriken Gmbh & Co. Kg
- Band-It Idex
- Bedford Saw & Tool Company
- Beta Tools (Uk)
- Bison - Grossschonauer Werkzeugschmiede Gmbh
- Black Jack India
- Brinko Werkzeugfabrik Fellermann Gmbh & Co. Kg
- C.S. Osborne & Co.
- Carl Kammerling International Ltd.
- Castle Brooke Tools (Uk) Ltd.
- Caverio Angelo Snc
- Central Tools, Inc.
- Chan Long Enterprise Co., Ltd.
- Chang Yung Metal Work Co., Ltd.
- Channellock, Inc.
- Chillington Tools
- Chinsing Industries Co., Ltd.
- Cimco-Werkzeugfabrik Carl Jul. Muller Gmbh & Co. Kg
- Corona Tools
- Crossman Tool Co., Ltd.
- Crown Hand Tools Ltd.
- Daniels Manufacturing Corporation
- Deprag Schulz Gmbh U. Co.
- Diversitech Corporation
- Dorian Drake International, Inc.
- EGA Master Sl
- Eh Smith (Builders Merchants) Ltd.
- Eklind Tool Company
- Elora Werkzeugfabrik Gmbh
- Emerson Electric Co. (Greenlee Tools, Inc.)
- Enerpac Tool Group
- Ess Pee Industrial Corporation
- Estwing Manufacturing Co., Inc.
- Excelta Corporation
- Felco Sa
- Felo-Werkzeugfabrik Holland-Letz Gmbh
- Ferval Srl
- Fiskars Group
- Fletcher Business Group
- Footprint Sheffield Ltd.
- Formosa Tools Co., Ltd.
- G-Man Tools Ab
- G. Adolf Lemp & Co., Gmbh
- Gedore Uk
- Gedore Werkzeugfabrik Gmbh & Co. Kg
- General Tools & Instruments Llc
- Gray Tools Canada, Inc.
- Great Neck Saw
- Great Valley Tools Pty., Ltd. (Metal Pecker)
- Griffon Corporation
- Grip-On-Tools Sa
- Hangzhou Great Star Industrial Co., Ltd.
- Harbor Freight Tools
- Hazet-Werk - Hermann Zerver Gmbh & Co. Kg
- Hebei Sinotools Industrial Co., Ltd.
- Herramientas Agricolas, S.A.
- Himmelberger Zeughammerwerk Leonard Mller & Shne Gmbh
- Howarth Timber Group Ltd.
- Hyde Tools, Inc.
- Ideal Industries, Inc.
- Infar Industrial Co., Ltd.
- Irwin Tools
- Jcbl India Pvt. Ltd.
- Jet Tools North America
- Jetech Tool Co. Ltd.
- Jk Files (India) Ltd.
- Johann Offner Verwaltung Und Vertrieb Gmbh
- JPW Industries
- K&W Tools Co., Ltd.
- Kennametal, Inc.
- King Jaws Metal Co., Ltd.
- King Lugger, Inc.
- King Spark Hardware & Tool Corporation
- Kirchhoff Group
- Klein Tools, Inc.
- Klenk Tools
- Knipex-Werk C. Gustav Putsch Kg
- Kyoto Tool Co., Ltd. (Ktc)
- Lang Tools
- Lasher Tools South Africa
- Leatherman Tool Group, Inc.
- Lecureux Ag
- Lee Valley Tools Ltd.
- Lowe's Companies
- Lucky-Brand Industrial Co., Ltd.
- Malco Products, Sbc
- Manufacturas Gove Sl
- Manutan Uk Ltd.
- Martin Sprocket & Gear, Inc.
- Mayhew Steel Products, Inc.
- Midwest Tool & Cutlery Co.
- Milwaukee Tool
- Mob Mondelin Sas
- Monument Tools Ltd.
- Motion Pro, Inc.
- Narex Bystrice Sro
- Ningbo Great Wall Precision Industrial Co., Ltd.
- Northern Tool + Equipment
- Nupla Corporation
- Oetiker Schweiz Ag
- Orbis Will Gmbh + Co. Kg
- OX Tools Au Pty Ltd.
- Pacific Handy Cutter
- Parget Industrial Co., Ltd.
- Park Tool Co.
- Paul Dreiner Verwaltungs Ug (Haftungsbeschrankt) & Co. Kg
- PB Swiss Tools Ag
- Peter Bausch Gmbh & Co. Kg
- Phoenix Contact Gmbh & Co. Kg
- Pilana Tools A.S.
- Power Most Industrial Co., Ltd.
- Power Products, Llc
- Q.E.P. Co., Inc.
- Quinn Group
- Red Devil, Inc.
- Reed Manufacturing Company
- Ridgid Tool Company
- Robert Bosch Gmbh
- Schwan Werkzeuge
- Se Tools
- Sk Hand Tool Llc
- SNA Europe Group (Bahco)
- Snap-On, Inc.
- Soteck Corporation
- Southwire Company Llc
- Spear & Jackson Uk Ltd.
- Stahlwille Eduard Wille Gmbh & Co. Kg
- Stanley Black & Decker, Inc.
- Stanley Black & Decker France Sas
- Lenox Corporation
- Stihl, Inc.
- Super Tool Co., Ltd.
- Sutton Tools Pty. Ltd.
- Sykes Pickavant Ltd.
- Techtronic Industries Co., Ltd.
- The Ames Companies, Inc.
- The Lincoln Electric Company
- Truper S.A. De Cv
- Victorinox Ag
- Wera Werkzeuge Gmbh
- Wiha Werkzeuge Gmbh
- Wilde Tool Co., Inc.
- Wilh. Putsch Gmbh & Co. Kg
- Wolfcraft Gmbh
- Wright Tool Company
- Wuro Wilhelm Uebach Gmbh & Co. Kg
- Wrth France Sa
- Zephyr Tool Group
For more information about this report visit https://www.researchandmarkets.com/r/990kft
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets