Household and DIY Hand Tools Market - Global Industry Analysis

Household and DIY Hand Tools Market By Type (General Purpose Tools, Metal Cutting Tools, Layout & Measuring Tools, Taps & Dies), By Application (Household Appliances, Entertainment & Consumer Electronics, IT & Telecommunications, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 30-May-2022 Category: Energy & Mining Report Format : PDF Pages: 199 Report Code: ZMR-3421 Status : Published

The global household and DIY hand tools market achieved revenue growth of about USD 22.36 billion in 2021 and is assessed to reach around USD 32.67 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.5 percent over the forecast period.

Description

Industry Prospective:

The global household and DIY hand tools market achieved revenue growth of about USD 22.36 billion in 2021 and is assessed to reach around USD 32.67 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.5 percent over the forecast period. The report analyzes the household and DIY hand tools market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the household and DIY hand tools market.

Household and DIY Hand Tools Market: Overview

Any tool that is powered by hand rather than a motor is referred to as a hand tool. Pliers, wrenches, cutters, screwdrivers, striking tools, hammering tools, vises, saws, clamps, knives, drills, and other hand tools are only a few examples of DIY and household tools. Garden forks, rakes, and pruning shakes are further examples of outdoor tools. The importance of these tools is increasing as the effect of rapid urbanization and construction works.

COVID-19 Impact:

COVID-19 has had a huge impact on the global economy and all industries worldwide. To halt the infection from spreading, many countries imposed lockdowns. The absolute worldwide lockdown in the initial stages of the outbreak in numerous countries severely impacted people's livelihoods and quality of life. Due to the shortage of workforce, there have been major supply chain disruptions across numerous countries. Because of a major decline in product demand, the global economy has suffered. The epidemic has affected hand tool manufacturing and other industries, resulting in a lack of raw materials, a decline in exports, and supply chain disruptions.

Household and DIY Hand Tools Market: Growth Drivers

Rapidly growing residential and commercial infrastructure projects may drive market growth.

The demand for infrastructure development and fast urbanization is constantly expanding over the world. Governments from all major nations have been seen making efforts toward infrastructure development and making required expenditures in the sector to facilitate such advancements. Projects including the construction of roads, trains, airports, utilities, energy, and commercial & residential structures are among the infrastructure development projects. Countries such as the United States, China, India, and Japan are substantially investing in building projects, influencing their infrastructure development, and are projected to have rapid expansion in the next years. The need for hand tools is increasing as the construction industry's expectations change, and hand tool makers can be observed focused on improving their goods to meet the newest global household and DIY hand tools market demands.

Global  Household and DIY Hand Tools Market

Household and DIY Hand Tools Market: Restraints

Upsurge in concerns and safety risks due to improper use of hand tools may hamper the market growth.

Hand tools include heavy-weight, sharp-edged, potentially dangerous equipment that is typically used in cutting, drilling, shaping, fitting, and mending tasks. Because of inappropriate usage or handling, such equipment might pose a threat to human safety. These catastrophes are frequently caused by a lack of knowledge, expertise, or professionalism, thus it is important that these products should only be used with proper instruction and safeguards. Also, while carrying them, essential measures should be taken, and they should be carried in sheaths, holsters, or dedicated toolboxes. Furthermore, as more people utilize hand tools for home improvement projects, the risk of injury increases owing to inappropriate or insufficient understanding of how to use them. These factors can cause slow growth of the global household and DIY hand tools market.

Household and DIY Hand Tools Market: Opportunities

A surge in the use of automatic hand tools to decrease physical work may fuel the market growth.

Every country in the world is currently headed toward automation. This development is required for all industries to survive the impending difficult era and meet ever-increasing consumer demands. Furthermore, automation benefits producers in several ways including dropping overall operating costs, lessening human effort, improving labor safety, refining production output, and improving work quality. Likewise, automated hand tools may be used to replace manual tools, such as self-acting tools that combine dexterity with automated functionality and give smart solutions. Automated hand tools can be a clever way to replace time-consuming and exhausting tasks while increasing productivity and quality.

Household and DIY Hand Tools Market: Challenges.

A major challenge to make hand tools with every possible dimension for every application may hinder the market growth.

There aren't enough all dimensions or specification hand tools to cover every application scenario. Every hand tool has a different application depending on its size, shape, intensity, material, and the application area's criteria. As a result, only hand tools with specified specifications for the targeted application should be owned and used. In practice, it is nearly difficult for household users or experts to get and handle all hand tools of all sizes necessary to complete the task.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Household and DIY Hand Tools Market: Segmentation

The global household and DIY hand tools market is categorized into type, application, and region. Based on the types, the market is bifurcated into metal cutting tools, taps and dies, layout & measuring tools, and general-purpose tools. The application segment of the market is segregated as household appliances, IT & telecommunications, entertainment & consumer electronics, and others.

Recent Developments

  • March 2021, the Slain Lineman Tribute Knife, a limited-edition knife honoring the lives of lost utility line workers, was released by Klein Tools, Inc.
  • February 2021, Klein Tools, Inc. launched the Klein-Kurve Wire Stripper/Cutter, a sturdy stamped wire remover with six strip holes and shear blades for cutting, as well as a comfortable grip and improved lock.
  • November 2020, Klein Tools, Inc. has released two new extendable screwdrivers that may be used as both multi-bit screwdrivers and impact driver attachments, featuring onboard bit storage and precise control.

Household and DIY Hand Tools Market: Regional Landscape

Asia Pacific is projected to dominate the global market during the forecast period.

Due to increased urbanization and infrastructure developments, Asia Pacific is predicted to dominate the global household and DIY hand tools market throughout the study period. Furthermore, China is a significant supplier of hand tools worldwide. The fast industrial expansion of China has prompted hand tool and accessory manufacturers to set up production facilities there. China's cheap labor and material costs enable manufacturers to make hand tools and accessories at reduced costs while also increasing production productivity. Many small manufacturers operate in the Chinese hand tool industry, catering to the Asian need for hand tools. Furthermore, China's growing automotive, aerospace, and electronics industries provide the potential for hand tool expansion. The Middle East is also expected to offer better opportunities for market expansion owing to the rapid growth in the construction sector.

Household and DIY Hand Tools Market: Competitive Landscape

Major players operating in the global household and DIY hand tools market include Snap-On Incorporated., Akar Tools Limited, Stanley Black and Decker, Wera Tools, Techtronic Industries Co. Ltd., Apex Tool Group, JCBL India, Klein Tools Inc., Emerson Electric Co, and Channellock, Inc.

Global household and DIY hand tools market is segmented as follows:

By Type

  • General Purpose Tools
  • Metal Cutting Tools
  • Layout and Measuring Tools
  • Taps and Dies

By Application

  • Household Appliances
  • Entertainment and Consumer Electronics
  • IT & Telecommunications
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Household and DIY Hand Tools Market, (2022 - 2028) (USD Billion)
    • 2.2 Global Household and DIY Hand Tools Market : snapshot
  • Chapter 3. Global Household and DIY Hand Tools Market - Industry Analysis
    • 3.1 Household and DIY Hand Tools Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Rapidly growing residential and commercial infrastructure projects may drive market growth.
    • 3.3 Market Restraints
      • 3.3.1. Upsurge in concerns and safety risks due to improper use of hand tools may hamper the market growth.
    • 3.4 Market Opportunities
      • 3.4.1. A surge in the use of automatic hand tools to decrease physical work may fuel the market growth.
    • 3.5 Market Challenges
      • 3.5.1. A major challenge to make hand tools with every possible dimension for every application may hinder the market growth.
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Application
  • Chapter 4. Global Household and DIY Hand Tools Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Household and DIY Hand Tools Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Household and DIY Hand Tools Market - Type Analysis
    • 5.1 Global Household and DIY Hand Tools Market overview: By Type
      • 5.1.1 Global Household and DIY Hand Tools Market share, By Type, 2021 and 2028
    • 5.2 General Purpose Tools
      • 5.2.1 Global Household and DIY Hand Tools Market by General Purpose Tools, 2022 - 2028 (USD Billion)
    • 5.3 Metal Cutting Tools
      • 5.3.1 Global Household and DIY Hand Tools Market by Metal Cutting Tools, 2022 - 2028 (USD Billion)
    • 5.4 Layout and Measuring Tools
      • 5.4.1 Global Household and DIY Hand Tools Market by Layout and Measuring Tools, 2022 - 2028 (USD Billion)
    • 5.5 Taps and Dies
      • 5.5.1 Global Household and DIY Hand Tools Market by Taps and Dies, 2022 - 2028 (USD Billion)
  • Chapter 6. Global Household and DIY Hand Tools Market - Application Analysis
    • 6.1 Global Household and DIY Hand Tools Market overview: By Application
      • 6.1.1 Global Household and DIY Hand Tools Market share, By Application, 2021 and 2028
    • 6.2 Household Appliances
      • 6.2.1 Global Household and DIY Hand Tools Market by Household Appliances, 2022 - 2028 (USD Billion)
    • 6.3 Entertainment and Consumer Electronics
      • 6.3.1 Global Household and DIY Hand Tools Market by Entertainment and Consumer Electronics, 2022 - 2028 (USD Billion)
    • 6.4 IT & Telecommunications
      • 6.4.1 Global Household and DIY Hand Tools Market by IT & Telecommunications, 2022 - 2028 (USD Billion)
    • 6.5 Others
      • 6.5.1 Global Household and DIY Hand Tools Market by Others, 2022 - 2028 (USD Billion)
  • Chapter 7. Household and DIY Hand Tools Market - Regional Analysis
    • 7.1 Global Household and DIY Hand Tools Market Regional Overview
    • 7.2 Global Household and DIY Hand Tools Market Share, by Region, 2021 & 2028 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)
        • 7.3.1.1 North America Household and DIY Hand Tools Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 North America Household and DIY Hand Tools Market, by Type, 2022 - 2028
      • 7.4.1 North America Household and DIY Hand Tools Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 North America Household and DIY Hand Tools Market, by Application, 2022 - 2028
      • 7.5.1 North America Household and DIY Hand Tools Market, by Application, 2022 - 2028 (USD Billion)
    • 7.4. Europe
      • 7.4.2 Europe Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)
        • 7.4.2.1 Europe Household and DIY Hand Tools Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Europe Household and DIY Hand Tools Market, by Type, 2022 - 2028
      • 7.4.1 Europe Household and DIY Hand Tools Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Europe Household and DIY Hand Tools Market, by Application, 2022 - 2028
      • 7.5.1 Europe Household and DIY Hand Tools Market, by Application, 2022 - 2028 (USD Billion)
    • 7.5. Asia Pacific
      • 7.5.3 Asia Pacific Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)
        • 7.5.3.1 Asia Pacific Household and DIY Hand Tools Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Asia Pacific Household and DIY Hand Tools Market, by Type, 2022 - 2028
      • 7.4.1 Asia Pacific Household and DIY Hand Tools Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Asia Pacific Household and DIY Hand Tools Market, by Application, 2022 - 2028
      • 7.5.1 Asia Pacific Household and DIY Hand Tools Market, by Application, 2022 - 2028 (USD Billion)
    • 7.6. Latin America
      • 7.6.4 Latin America Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)
        • 7.6.4.1 Latin America Household and DIY Hand Tools Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Latin America Household and DIY Hand Tools Market, by Type, 2022 - 2028
      • 7.4.1 Latin America Household and DIY Hand Tools Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Latin America Household and DIY Hand Tools Market, by Application, 2022 - 2028
      • 7.5.1 Latin America Household and DIY Hand Tools Market, by Application, 2022 - 2028 (USD Billion)
    • 7.7. The Middle-East and Africa
      • 7.7.5 The Middle-East and Africa Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)
        • 7.7.5.1 The Middle-East and Africa Household and DIY Hand Tools Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 The Middle-East and Africa Household and DIY Hand Tools Market, by Type, 2022 - 2028
      • 7.4.1 The Middle-East and Africa Household and DIY Hand Tools Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 The Middle-East and Africa Household and DIY Hand Tools Market, by Application, 2022 - 2028
      • 7.5.1 The Middle-East and Africa Household and DIY Hand Tools Market, by Application, 2022 - 2028 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Snap-On Incorporated.
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Akar Tools Limited
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Stanley Black and Decker
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Wera Tools
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Techtronic Industries Co. Ltd.
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Apex Tool Group
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 JCBL India
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Klein Tools Inc.
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Emerson Electric Co
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 and Channellock Inc.
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Household and DIY Hand Tools Market attractiveness, By Type
  • 6. Global Household and DIY Hand Tools Market attractiveness, By Application
  • 7. Global Household and DIY Hand Tools Market share by Type, 2022 and 2028 (USD Billion)
  • 8. Global Household and DIY Hand Tools Market by General Purpose Tools, 2022 - 2028 (USD Billion)
  • 9. Global Household and DIY Hand Tools Market by Metal Cutting Tools, 2022 - 2028 (USD Billion)
  • 10. Global Household and DIY Hand Tools Market by Layout and Measuring Tools, 2022 - 2028 (USD Billion)
  • 11. Global Household and DIY Hand Tools Market by Taps and Dies, 2022 - 2028 (USD Billion)
  • 12. Global Household and DIY Hand Tools Market share by Application, 2022 and 2028 (USD Billion)
  • 13. Global Household and DIY Hand Tools Market by Household Appliances, 2022 - 2028 (USD Billion)
  • 14. Global Household and DIY Hand Tools Market by Entertainment and Consumer Electronics, 2022 - 2028 (USD Billion)
  • 15. Global Household and DIY Hand Tools Market by IT & Telecommunications, 2022 - 2028 (USD Billion)
  • 16. Global Household and DIY Hand Tools Market by Others, 2022 - 2028 (USD Billion)
  • 17. Global Household and DIY Hand Tools Market share, by Region, 2022 and 2028
  • 18. North America Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)
  • 19. Europe Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)
  • 20. Asia Pacific Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)
  • 21. Latin America Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)
  • 22. The Middle-East and Africa Household and DIY Hand Tools Market, 2022 - 2028 (USD Billion)

Table Of Tables

  • 1. Global Household and DIY Hand Tools Market: Snapshot
  • 2. Drivers of the Household and DIY Hand Tools Market: impact analysis
  • 3. North America Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 4. North America Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 5. U.S. Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 6. U.S. Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 7. Canada Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 8. Canada Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 9. Europe Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 10. Europe Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 11. Germany Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 12. Germany Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 13. France Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 14. France Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 15. U.K. Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 16. U.K. Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 17. Italy Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 18. Italy Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 19. Spain Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 20. Spain Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 21. Rest of Europe Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 22. Rest of Europe Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 23. Asia Pacific Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 24. Asia Pacific Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 25. China Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 26. China Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 27. Japan Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 28. Japan Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 29. India Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 30. India Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 31. South Korea Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 32. South Korea Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 33. South-East Asia Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 34. South-East Asia Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 35. Rest of Asia Pacific Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 36. Rest of Asia Pacific Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 37. Latin America Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 38. Latin America Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 39. Brazil Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 40. Brazil Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 41. Mexico Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 42. Mexico Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 43. Rest of Latin America Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 44. Rest of Latin America Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 45. The Middle-East and Africa Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 46. The Middle-East and Africa Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 47. GCC Countries Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 48. GCC Countries Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 49. South Africa Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 50. South Africa Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 51. Rest of Middle-East Africa Household and DIY Hand Tools Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 52. Rest of Middle-East Africa Household and DIY Hand Tools Market revenue, By Application, 2022 - 2028 (USD Billion)

Methodology

Free Analysis

The hand tools offer convenience and flexibility to DIY for activities like drilling, screw driving, routing, chiseling, sanding, polishing, buffing, and leveling. For general purposes, the most commonly used power tools among DIY’ers include drilling machine, nail guns, wall chasers, circular saws jack-hammers, and others. The hand tools are simple and handy in nature. Basically, it involves in manual labor. In a regular day to day basis, the hand tools and the household tools play a crucial role in solving day to day machine activities. 

Household and DIY hand tools market is experiencing the highest growth rate for its usage in different applications in developed as well as developing countries. Such factors are contributing to the household and DIY hand tools market growth over the forecast period. The growing fondness of consumers towards the DIY approach which helps them to execute simple household repairs is driving the growth of the market. Also, the tools are cost effective in nature and come at a diverse range. The diverse range of the product helps in fulfilling the demand of the customers as they are used for several purposes like general house fixtures and others. Moreover, this growing usage of power tools can be a key restraint for the acceptance of the market. In recent years, there has been an increasing number of manufacturing plants and industries in developing countries. In those manufacturing plants, hand tools are extensively used for maintenance and other purposes. In addition, the rising demand for hand tool kits amongst the industrial professionals is fueling the growth of the market. Rapid industrialization across the globe is expected to create a positive impact on market growth and development. Furthermore, the increasing demand for hand tools in the automobile sector for maintenance is further anticipated to drive the growth of the market. Such factors are expected to boost the global household and DIY hand tools market. 

Global Household and DIY Hand Tools Market

Based on product type, the household and DIY hand tools market is segmented into metal cutting tools, general purpose tools, taps and dies, and layout and measuring tools. On the basis of the sales channel, the market is segmented into retail sales, online sales, and distributor sales. 

Asia Pacific region is predicted to grow at the highest CAGR in the global household and DIY hand tools market in 2017. The region is likely to continue with its dominance over the forecast timeframe. The regional market growth is expected due to growing demand for hand tools in the industrial sector across the region. Moreover, the region is a manufacturing hub. The increase in industrial and automation activities is anticipated to further propel industry growth in the region over the forecast timeframe. North America is expected to have substantial revenue share for household and DIY hand tools market. The regional growth is forecasted by the ongoing government initiatives across the region. Government initiatives such as usability tests and live demonstrations conducted in every retail outlet for their proper usage is going to have a positive impact on the regional market.  These factors are predicted to boost the household and DIY hand tools market growth across the globe over the forecast time period.  

Some of the industry players involved in the household and DIY hand tools market include Wera Tools, Apex Tool Group, Akar Tools, Snap-on, Channellock, Klein Tools, Kennametal Inc., Stanley Black & Decker, Techtronic Industries, and others.

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FrequentlyAsked Questions

The demand for infrastructure development and fast urbanization is constantly expanding over the world. Governments from all major nations have been seen making efforts toward infrastructure development and making required expenditures in the sector to facilitate such advancements. Projects including the construction of roads, trains, airports, utilities, energy, and commercial and residential structures are among the infrastructure development projects. Countries such as the United States, China, India, and Japan are substantially investing in building projects, influencing their infrastructure development, and are projected to have rapid expansion in the next years.

According to the Zion Market Research report, the global household and DIY hand tools market was worth about 22.36 (USD billion) in 2021 and is predicted to grow to around 32.67 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 4.5 percent.

Due to increased urbanization and infrastructure developments, Asia Pacific is predicted to dominate the global household and DIY hand tools market throughout the study period. Furthermore, China is a significant supplier of hand tools worldwide. The fast industrial expansion of China has prompted hand tool and accessory manufacturers to set up production facilities there. China's cheap labor and material costs enable manufacturers to make hand tools and accessories at reduced costs while also increasing production productivity.

Major players operating in the global household and DIY hand tools market include Snap-On Incorporated., Akar Tools Limited, Stanley Black and Decker, Wera Tools, Techtronic Industries Co. Ltd., Apex Tool Group, JCBL India, Klein Tools Inc., Emerson Electric Co, and Channellock, Inc.

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