Market Synopsis of Mechanical Hand Tools Market.
The need for mechanical hand tools is gradually rising owing to factors such as, growing demand from construction industry coupled with increasing industrialization, growing application industries, increasing demand from household applications and among others. Mechanical hand tools are widely used in the construction industry. The rise in the number of manufacturing plants, where hand tools are majorly used, will lead to the growth of mechanical hand tool market. The industrial sector is expected to grow and would increase in demand for professional hand tools kit, thus leading to the growth of the market. On the other hand, the need for hand tools is likely to increase with the increase in the demand for wooden furniture. The key factors responsible for the growth of the furniture market is growth in construction and renovation activities. Increase in the number of single-person and two person households, has resulted in the increase in demand for small and convenient furniture.
The global Mechanical Hand Tools market has witnessed a moderate growth over the past few year and it has been analysed that the market will grow at the same pace during the forecast period. This market was valued at USD 16,044.1 million in 2016 and is poised to reach USD 20,516.3 million with a CAGR of 3.67% during the forecast period.
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Market Segmentation:
The global mechanical hand tools market has been segmented into:
By Type
Hand Service Tools
• Edge Tools
• Hand Saw
• Others
By Application
Construction Industry
• Decoration Industry
• Household Application
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Regional Analysis
Geographically, North America has emerged as the leading market for mechanical hand tools market consuming around 35.3% market share in 2016. US is one of the leading country in terms of consumption owing to the rising construction sites and rapid industrialization. Asia-Pacific region has registered itself as the fastest growing region with a CAGR of 4.00% during forecast period. Whereas Europe stood on third rank in terms of value.
Key Players
The major players operating in this market, who have adopted these strategies, are
• Robert Bosch Tool Corporation (U.S),
• Stanley Black & Decker Inc (U.S.),
• Snap-on (U.S.),
• TOYA SA (Poland),
• Metabowerke GmbH (Germany),
• Hilti Corporation (Liechtenstein),
• Techtronic Industries Co. Ltd (TTI) (Hong Kong),
• Makita Corporation (U.S.) Wurth Group (Germany),
• Klein Tools (U.S.) and others.
Target Audience
• Organizations
• Manufacturer
• Research Institute / Education Institute
• Potential Investors
Product Analysis
• Product matrix which gives a detailed comparison of the market for different recycled product types
Additional Information
• Regulatory Landscape
• Pricing Analysis
• Macroeconomic Indicators
Geographic Analysis
• Geographical analysis across 15 countries
Company Information
• Profiling of 10 key market players
• In-depth analysis including SWOT analysis, and strategy information of related to report title
• Competitive landscape including emerging trends adopted by major companies
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The report for Global Mechanical Hand Tools Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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We are thankful for the support and assistance from “Global Mechanical Hand Tools Market Research Report- Forecast 2023”chain related technical experts and marketing experts during Research Team survey and interviews.
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