Published by mark itwired
Posted on October 6, 2021
4 min readLast updated: January 31, 2026
The hand tools market is set to grow at a 3.9% CAGR through 2031, driven by household and industrial demand, with North America leading.
In a new study Future Market Insights (FMI) has projected the hand tools market to exhibit a CAGR of 3.9% through 2031. The demand for hand tools will continue surging particularly on account of the increasing use in household applications.
“Leading manufacturers are focusing on developing technologically advanced hand tools, particularly in response to the rising demand for tools to aid do-it-activities, which will also allow consumers to minimize labor costs.” says the FMI analyst.
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Hand tools – Important Highlights
Hand tools Market – Drivers
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Hand tools Market – Restraints
COVID-19 Impact on Hand tools Market
The hand tools market growth is expected to be hampered due to project delays and cancellations caused amid COVID-19 crisis. In regions such as North America, Europe, and Asia-Pacific, with several end-users impacted, supply and demand shortages are expected to result in a substantial drop in Y-O-Y growth. Containment policies including social distancing, remote employment, and the termination of commercial operations have resulted in organizational difficulties. However, the market is anticipated to make a swift recovery as the economy stabilizes
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Competitive Landscape
Market players have left a lasting impact with their unique business expansion strategies and robust product offerings. An increasing number of them are focusing on product launches. For example, Toughbuilt unveiled 11 new hand tools at Lowe stores across the U.S. in December 2020. The range of items included scissors, shears, and other tools. Some of the key companies are Stanley Black & Decker, Inc., Snap-on Incorporated, IDEAL INDUSTRIES, INC., Apex Tool Group, LLC., KLEIN TOOLS INC, Emerson Electric Co.
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
5. Global Hand Tools Market – Pricing Analysis
6. Global Hand Tools Market Demand (in Value or Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
6.1. Historical Market Value (US$ Mn) Analysis, 2015-2019
6.2. Current and Future Market Value (US$ Mn) Projections, 2020-2030
6.2.1. Y-o-Y Growth Trend Analysis
6.2.2. Absolute $ Opportunity Analysis
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The post Hand Tools Market 2021 Outlook, Current and Future Industry Landscape Analysis 2031 appeared first on Industry News Analsis.
The article discusses the growth and trends in the global hand tools market projected through 2031.
Growth is driven by increased demand in household and industrial sectors, especially in North America.
COVID-19 caused delays and demand shortages, but a swift recovery is anticipated as the economy stabilizes.
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