LONDON--(BUSINESS WIRE)--Technavio has been monitoring the hand tools market and it is poised to grow by USD 2.62 bn during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. We offer $1000 worth of FREE customization
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Akar Auto Industries Ltd., Apex Tool Group LLC, Emerson Electric Co., IDEAL Industries Inc., JPW Industries Inc., Kennametal Inc., Raymond Ltd., Snap-on Inc., Stanley Black & Decker Inc., and Techtronic Industries Co. Ltd., are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The growth of residential construction has been instrumental in driving the growth of the market. However, fluctuating raw material prices might hamper market growth.
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Hand Tools Market 2020-2024: Segmentation
Hand Tools Market is segmented as below:
- North America
- South America
Hand Tools Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The hand tools market report covers the following areas:
- Hand Tools Market Size
- Hand Tools Market Trends
- Hand Tools Market Industry Analysis
This study identifies the introduction of ergonomically designed hand tools as one of the prime reasons driving the hand tools market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Hand Tools Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist hand tools market growth during the next five years
- Estimation of the hand tools market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the hand tools market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of hand tools market vendors
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Value chain analysis
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Market segmentation by application
- Comparison by application
- General-purpose - Market size and forecast 2019-2024
- Metal cutting - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: MARKET SEGMENTATION BY END-USER
- Market segmentation by end-user
- Comparison by end-user
- Industrial - Market size and forecast 2019-2024
- Household - Market size and forecast 2019-2024
- Market opportunity by end-user
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Introduction of ergonomically designed hand tools
- Increase in demand for hand tools for residential applications through online platforms
- Increased M&A activities and strategic alliances
PART 13: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Akar Auto Industries Ltd.
- Apex Tool Group LLC
- Emerson Electric Co.
- IDEAL Industries Inc.
- JPW Industries Inc.
- Kennametal Inc.
- Raymond Ltd.
- Snap-on Inc.
- Stanley Black & Decker, Inc.
- Techtronic Industries Co. Ltd.
PART 15: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 16: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.