HAND TOOLS MARKET ANALYSIS


Posted June 3, 2020 by renucoherent

A hand tool is any tool that is powered by hand instead of a motor. Different tools include hand tool categories such as pliers, cutters, wrenches, striking tools, screwdrivers, hammered tools, vises, clamps, saws, knives, drills, and more.

 
A hand tool is any tool that is powered by hand instead of a motor. Different tools include hand tool categories such as pliers, cutters, wrenches, striking tools, screwdrivers, hammered tools, vises, clamps, saws, knives, drills, and more. Moreover, outdoor tools include rakes, garden forks, and pruning shakes. Layout and measuring tools comprise tapes, laser measurers, etc. Taps and dies are tools used to create threads

Market Dynamics- Drivers

1. Rising industrial expansion worldwide is expected to drive growth of the global hand tools market during the forecast period
The number of major manufacturing plants and industries has increased significantly in the recent past where hand tools are majorly utilized for maintenance purposes. High demand for professional hand tools is increasing among industry personnel thereby increase the use of hand tools by workers and laborers. According to Coherent Market Insights’ analysis, among end-use industries account for a 40% share of the global hand tools markets, while professionals such as carpenters, plumbers, automotive maintenance mechanics, and farmers account for the remaining 60% market share. Thus, these factors are expected to drive growth of the global hand tools market in the near future.

2. Increasing number of new construction and renovation activities is expected to propel the global hand tools market growth over the forecast period
Small hand tools are mainly used for interior finishing although a large number of hand tools and hand tool kits are deployed in ceiling tiles, flooring and interior, electrical, mechanical, and plumbing fixtures. Recent spurt in renovation activities of old constructions is also driving demand for hand tools. Hence, these factors are expected to propel the global hand tools market growth over the forecast period.
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Categories Industry , News
Tags hand tools market , hand tools market share , hand tools market size
Last Updated June 3, 2020
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