Analyst Viewpoint
Growth in automotive sector is fueling the industrial hand tools market size. Automotive production from major exporters along with vehicle ownership is witnessing a drastic positive trajectory. This leads to vehicle manufacturers continuously working towards the integration of advanced features to meet rising consumer needs which creates a demand for industrial hand tools that offer innovative customizations, precision, and portability.
Prominent players operating in the global industrial hand tools market landscape are focusing on the workshop equipment market while experimenting with tool designs and materials to expand their product portfolio. Surge in the popularity of e-commerce platforms is also boosting industrial hand tools business opportunities. The global reach of such platforms makes the sector competitive, fosters innovation, and acts as a catalyst for product differentiation.
Industrial hand tools are tools utilized by manual workers to perform tasks such as cutting, fastening, drilling, and measuring, in an industrial setting. Hand tools are easier to use, portable, and do not require any external power sources, making them accessible and useful in a versatile working environment. Industrial hand tools are also utilized in precision work including woodcarving and fastening of bolts in automobiles.
Hammers, power drills, chainsaws, pliers, and angle grinders are a few examples of commonly used industrial hand tools. These tools are easily customizable with modifications available on the size, shape, and material of the tool to meet diverse heavy market needs.
Emerging economies around the globe are witnessing a rise in disposal income and urbanization leading to an increase in demand for vehicle ownership. Automotive production also is heightened in manufacturing hubs, such as Germany, China, and Japan, which is significantly contributing to the demand for industrial tools required for heavy engineering.
Japan is a leading producer of vehicles and exported over 3.2 million cars in 2022. Experts in China expect the country to export 5.5 million cars in 2030, about half of which are likely to be EVs. The automotive sector is constantly evolving with the integration of advanced features in a bid to cater to changing consumer tastes and electric vehicle complexities. This is creating a significant demand for dynamic and multi-purpose hand tools that offer portability and efficiency in the hands of a trained professional to meet strict market requirements.
Surge in number of e-commerce platforms is acting as a catalyst to the industrial hand tools industry. E-commerce offers easy accessibility, allowing businesses and individuals to browse, compare, and purchase tools from any part of the world. This opens novel business opportunities in diverse regions, thereby boosting the industrial hand tools market revenue.
Popular e-commerce platforms or online marketplaces that deal with new or used machinery and tools include sites such as Indiamart.com, Vendaxo, and Industrybuying.com. These platforms are visited by millions and offer a plethora of options while being a trusted and reliable source for delivery.
The global reach of online commerce also makes the landscape competitive as it encourages innovation and fosters product differentiation. The productivity of hand tools, such as wrenches, screwdrivers, and hammers, has increased in the recent past due to technological advancements that save labor operation time and make versatile customizations possible.
According to the latest industrial hand tools market trends, Asia Pacific held largest share in 2022. Expansion in the construction and manufacturing sectors is fueling the market dynamics of the region. China is a major manufacturing hub in Asia Pacific. Growth in the industrial machinery and automotive sectors, propelled by cheap labor and easy access to raw materials, is also driving the market statistics in the region. As per Arc Group, over 105,100 enterprises specializing in industrial machinery production existed in China by the end of 2021.
According to the latest industrial hand tools industry insights, the sector in North America and Europe is projected to grow at a steady pace during the forecast period due to high demand from industries such as construction and aviation. Heightened investment in infrastructure development is augmenting the industrial hand tools market share in Middle East & Africa.
According to recent industrial hand tools market analysis, prominent manufacturers are investing significantly in the R&D of heavy hand instruments and workshop tools to enhance the functionality of industry components. They are offering better tool designs and features to extend the scope of applications and meet the rise in demand from several lucrative industries such as infrastructure, defense, and automotive.
Akar Tools Ltd., Apex Tools Group LLC, Channellock, Inc., JK Files and Engineering Limited, Kennametal Inc., Klein Tools, Inc., Snap-on Incorporated, Stanley Black & Decker, Inc., and Wera Tools are key manufacturers of industrial hand tools.
These companies have been profiled in the industrial hand tools market report based on parameters such as company overview, business strategies, product portfolio, financial overview, and business segments.
| Attribute | Detail |
|---|---|
| Market Value in 2022 (Base Year) | US$ 22.2 Bn |
| Market Forecast Value in 2031 | US$ 34.5 Bn |
| Growth Rate (CAGR) | 4.3% |
| Forecast Period | 2023-2031 |
| Historical Data Available for | 2017-2021 |
| Quantitative Units | US$ Bn for Value |
| Market Analysis | Qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, and SWOT analysis. Furthermore, at the regional level, the qualitative analysis includes key trends, price trends, and key supplier analysis. |
| Competition Landscape |
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| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Regions Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available upon Request |
| Pricing | Available upon Request |
It was valued at US$ 22.2 Bn in 2022
It is projected to advance at a CAGR of 4.3% from 2023 to 2031
Growth in automotive sector and rise in e-commerce
The general purpose tools product type segment held the largest share in 2022
Asia Pacific was the leading region in 2022
Akar Tools Ltd., Apex Tools Group LLC, Channellock, Inc., JK Files and Engineering Limited, Kennametal Inc., Klein Tools, Inc., Snap-on Incorporated, Stanley Black & Decker, Inc., and Wera Tools
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Market Dynamics
5.1.1. Drivers
5.1.2. Restraints
5.1.3. Opportunities
5.2. Key Trends Analysis
5.2.1. Demand Side Analysis
5.2.2. Supply Side Analysis
5.3. Key Market Indicators
5.4. Value Chain Analysis
5.5. Industry SWOT Analysis
5.6. Porter’s Five Forces Analysis
5.7. Raw Material Analysis
5.8. Global Industrial Hand Tools Market Analysis and Forecast, 2017 - 2031
5.8.1. Market Revenue Projections (US$)
6. Global Industrial Hand Tools Market Analysis and Forecast, By Product Type
6.1. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Product Type, 2017 - 2031
6.1.1. General Purpose Tools
6.1.2. Metal Cutting Tools
6.1.3. Layout and Measuring Tools
6.1.4. Taps and Dies
6.2. Incremental Opportunity, By Product Type
7. Global Industrial Hand Tools Market Analysis and Forecast, By Sales Channel
7.1. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Sales Channel, 2017 - 2031
7.1.1. Online Sales
7.1.2. Retail Sales
7.1.3. Distributor Sales
7.2. Incremental Opportunity, By Sales Channel
8. Global Industrial Hand Tools Market Analysis and Forecast, By Region
8.1. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Region, 2017 - 2031
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Middle East & Africa
8.1.5. South America
8.2. Incremental Opportunity, By Region
9. North America Industrial Hand Tools Market Analysis and Forecast
9.1. Regional Snapshot
9.2. Demographic Overview
9.3. Key Trend Analysis
9.3.1. Demand Side
9.3.2. Supply Side
9.4. Consumer Buying Behavior Analysis
9.5. Pricing Analysis
9.5.1. Weighted Average Selling Price (US$)
9.6. Market Share Analysis (%)
9.6.1. Local Manufacturers Vs Import
9.7. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Product Type, 2017 - 2031
9.7.1. General Purpose Tools
9.7.2. Metal Cutting Tools
9.7.3. Layout and Measuring Tools
9.7.4. Taps and Dies
9.8. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Sales Channel, 2017 - 2031
9.8.1. Online Sales
9.8.2. Retail Sales
9.8.3. Distributor Sales
9.9. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Country, 2017 - 2031
9.9.1. U.S.
9.9.2. Canada
9.9.3. Rest of North America
9.10. Incremental Opportunity Analysis
10. Europe Industrial Hand Tools Market Analysis and Forecast
10.1. Regional Snapshot
10.2. Demographic Overview
10.3. Key Trend Analysis
10.3.1. Demand Side
10.3.2. Supply Side
10.4. Consumer Buying Behavior Analysis
10.5. Pricing Analysis
10.5.1. Weighted Average Selling Price (US$)
10.6. Market Share Analysis (%)
10.6.1. Local Manufacturers Vs Import
10.7. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Product Type, 2017 - 2031
10.7.1. General Purpose Tools
10.7.2. Metal Cutting Tools
10.7.3. Layout and Measuring Tools
10.7.4. Taps and Dies
10.8. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Sales Channel, 2017 - 2031
10.8.1. Online Sales
10.8.2. Retail Sales
10.8.3. Distributor Sales
10.9. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Country, 2017 - 2031
10.9.1. U.K.
10.9.2. Germany
10.9.3. France
10.9.4. France
10.9.5. Italy
10.9.6. Spain
10.9.7. The Netherlands
10.9.8. Rest of Europe
10.10. Incremental Opportunity Analysis
11. Asia Pacific Industrial Hand Tools Market Analysis and Forecast
11.1. Regional Snapshot
11.2. Demographic Overview
11.3. Key Trend Analysis
11.3.1. Demand Side
11.3.2. Supply Side
11.4. Consumer Buying Behavior Analysis
11.5. Pricing Analysis
11.5.1. Weighted Average Selling Price (US$)
11.6. Market Share Analysis (%)
11.6.1. Local Manufacturers Vs Import
11.7. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Product Type, 2017 - 2031
11.7.1. General Purpose Tools
11.7.2. Metal Cutting Tools
11.7.3. Layout and Measuring Tools
11.7.4. Taps and Dies
11.8. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Sales Channel, 2017 - 2031
11.8.1. Online Sales
11.8.2. Retail Sales
11.8.3. Distributor Sales
11.9. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Country, 2017 - 2031
11.9.1. China
11.9.2. India
11.9.3. Japan
11.9.4. South Korea
11.9.5. Australia
11.9.6. ASEAN
11.9.7. Rest of Asia Pacific
11.10. Incremental Opportunity Analysis
12. Middle East & Africa Industrial Hand Tools Market Analysis and Forecast
12.1. Regional Snapshot
12.2. Demographic Overview
12.3. Key Trend Analysis
12.3.1. Demand Side
12.3.2. Supply Side
12.4. Consumer Buying Behavior Analysis
12.5. Pricing Analysis
12.5.1. Weighted Average Selling Price (US$)
12.6. Market Share Analysis (%)
12.6.1. Local Manufacturers Vs Import
12.7. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Product Type, 2017 - 2031
12.7.1. General Purpose Tools
12.7.2. Metal Cutting Tools
12.7.3. Layout and Measuring Tools
12.7.4. Taps and Dies
12.8. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Sales Channel, 2017 - 2031
12.8.1. Online Sales
12.8.2. Retail Sales
12.8.3. Distributor Sales
12.9. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Country, 2017 - 2031
12.9.1. UAE
12.9.2. Saudi Arabia
12.9.3. Kuwait
12.9.4. Qatar
12.9.5. Nigeria
12.9.6. South Africa
12.9.7. Rest of Middle East & Africa
13. South America Industrial Hand Tools Market Analysis and Forecast
13.1. Regional Snapshot
13.2. Demographic Overview
13.3. Key Trend Analysis
13.3.1. Demand Side
13.3.2. Supply Side
13.4. Consumer Buying Behavior Analysis
13.5. Pricing Analysis
13.5.1. Weighted Average Selling Price (US$)
13.6. Market Share Analysis (%)
13.6.1. Local Manufacturers Vs Import
13.7. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Product Type, 2017 - 2031
13.7.1. General Purpose Tools
13.7.2. Metal Cutting Tools
13.7.3. Layout and Measuring Tools
13.7.4. Taps and Dies
13.8. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Sales Channel, 2017 - 2031
13.8.1. Online Sales
13.8.2. Retail Sales
13.8.3. Distributor Sales
13.9. Industrial Hand Tools Market Size (US$ Mn) Forecast, By Country, 2017 - 2031
13.9.1. Brazil
13.9.2. Argentina
13.9.3. Rest of South America
13.10. Incremental Opportunity Analysis
14. Competition Landscape
14.1. Market Player – Competition Dashboard
14.2. Market Share Analysis (%), 2022
14.3. Company Profiles (Details – Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview, Go-To-Market Strategy)
14.3.1. Akar Tools Ltd.
14.3.1.1. Company Overview
14.3.1.2. Sales Area
14.3.1.3. Geographical Presence
14.3.1.4. Revenue
14.3.1.5. Strategy & Business Overview
14.3.1.6. Go-To-Market Strategy
14.3.2. Apex Tools Group LLC
14.3.2.1. Company Overview
14.3.2.2. Sales Area
14.3.2.3. Geographical Presence
14.3.2.4. Revenue
14.3.2.5. Strategy & Business Overview
14.3.2.6. Go-To-Market Strategy
14.3.3. Channellock, Inc.
14.3.3.1. Company Overview
14.3.3.2. Sales Area
14.3.3.3. Geographical Presence
14.3.3.4. Revenue
14.3.3.5. Strategy & Business Overview
14.3.3.6. Go-To-Market Strategy
14.3.4. JK Files and Engineering Limited
14.3.4.1. Company Overview
14.3.4.2. Sales Area
14.3.4.3. Geographical Presence
14.3.4.4. Revenue
14.3.4.5. Strategy & Business Overview
14.3.4.6. Go-To-Market Strategy
14.3.5. Kennametal Inc.
14.3.5.1. Company Overview
14.3.5.2. Sales Area
14.3.5.3. Geographical Presence
14.3.5.4. Revenue
14.3.5.5. Strategy & Business Overview
14.3.5.6. Go-To-Market Strategy
14.3.6. Klein Tools, Inc.
14.3.6.1. Company Overview
14.3.6.2. Sales Area
14.3.6.3. Geographical Presence
14.3.6.4. Revenue
14.3.6.5. Strategy & Business Overview
14.3.6.6. Go-To-Market Strategy
14.3.7. Snap-on Incorporated
14.3.7.1. Company Overview
14.3.7.2. Sales Area
14.3.7.3. Geographical Presence
14.3.7.4. Revenue
14.3.7.5. Strategy & Business Overview
14.3.7.6. Go-To-Market Strategy
14.3.8. Stanley Black & Decker, Inc.
14.3.8.1. Company Overview
14.3.8.2. Sales Area
14.3.8.3. Geographical Presence
14.3.8.4. Revenue
14.3.8.5. Strategy & Business Overview
14.3.8.6. Go-To-Market Strategy
14.3.9. Wera Tools
14.3.9.1. Company Overview
14.3.9.2. Sales Area
14.3.9.3. Geographical Presence
14.3.9.4. Revenue
14.3.9.5. Strategy & Business Overview
14.3.9.6. Go-To-Market Strategy
15. Go To Market Strategy
15.1. Identification of Potential Market Spaces
15.2. Understanding the Buying Process of the Customers
List of Tables
Table 1: Global Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Table 2: Global Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031 &
Table 3: Global Industrial Hand Tools Market Value, by Region, US$ Mn, 2023-2031
Table 4: North America Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Table 5: North America Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Table 6: North America Industrial Hand Tools Market Value, by Country, US$ Mn, 2017-2031
Table 7: Europe Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Table 8: Europe Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Table 9: Europe Industrial Hand Tools Market Value, by Country, US$ Mn, 2017-2031
Table 10: Asia Pacific Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Table 11: Asia Pacific Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Table 12: Asia Pacific Industrial Hand Tools Market Value, by Country, US$ Mn, 2017-2031
Table 13: Middle East & Africa Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Table 14: Middle East & Africa Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Table 15: Middle East & Africa Industrial Hand Tools Market Value, by Country, US$ Mn, 2017-2031
Table 16: South America Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Table 17: South America Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Table 18: South America Industrial Hand Tools Market Value, by Country, US$ Mn, 2017-2031
List of Figures
Figure 1: Global Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Figure 2: Global Industrial Hand Tools Market Incremental Opportunity, by Product Type, 2023-2031
Figure 3: Global Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Figure 4: Global Industrial Hand Tools Market Incremental Opportunity, By Sales Channel, 2023-2031
Figure 5: Global Industrial Hand Tools Market Value, by Region, US$ Mn, 2017-2031
Figure 6: Global Industrial Hand Tools Market Incremental Opportunity, by Region,2023-2031
Figure 7: North America Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Figure 8: North America Industrial Hand Tools Market Incremental Opportunity, by Product Type, 2023-2031
Figure 9: North America Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Figure 10: North America Industrial Hand Tools Market Incremental Opportunity, By Sales Channel, 2023-2031
Figure 11: North America Industrial Hand Tools Market Value, by Country, US$ Mn, 2017-2031
Figure 12: North America Industrial Hand Tools Market Incremental Opportunity, by Country, 2023-2031
Figure 13: Europe Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Figure 14: Europe Industrial Hand Tools Market Incremental Opportunity, by Product Type, 2023-2031
Figure 15: Europe Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Figure 16: Europe Industrial Hand Tools Market Incremental Opportunity, By Sales Channel, 2023-2031
Figure 17: Europe Industrial Hand Tools Market Value, by Country/Sub-Region, US$ Mn, 2017-2031
Figure 18: Europe Industrial Hand Tools Market Incremental Opportunity, by Country/Sub-Region, 2023-2031
Figure 19: Asia Pacific Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Figure 20: Asia Pacific Industrial Hand Tools Market Incremental Opportunity, by Product Type, 2023-2031
Figure 21: Asia Pacific Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Figure 22: Asia Pacific Industrial Hand Tools Market Incremental Opportunity, By Sales Channel, 2023-2031
Figure 23: Asia Pacific Industrial Hand Tools Market Value, by Country/Sub-Region, US$ Mn, 2017-2031
Figure 24: Asia Pacific Industrial Hand Tools Market Incremental Opportunity, by Country/Sub-Region, 2023-2031
Figure 25: Middle East & Africa Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Figure 26: Middle East & Africa Industrial Hand Tools Market Incremental Opportunity, by Product Type, 2023-2031
Figure 27: Middle East & Africa Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Figure 28: Middle East & Africa Industrial Hand Tools Market Incremental Opportunity, By Sales Channel, 2023-2031
Figure 29: Middle East & Africa Industrial Hand Tools Market Value, by Country/Sub-Region, US$ Mn, 2017-2031
Figure 30: Middle East & Africa Industrial Hand Tools Market Incremental Opportunity, by Country/Sub-Region, 2023-2031
Figure 31: South America Industrial Hand Tools Market Value, by Product Type, US$ Mn, 2017-2031
Figure 32: South America Industrial Hand Tools Market Incremental Opportunity, by Product Type, 2023-2031
Figure 33: South America Industrial Hand Tools Market Value, By Sales Channel, US$ Mn, 2017-2031
Figure 34: South America Industrial Hand Tools Market Incremental Opportunity, By Sales Channel, 2023-2031
Figure 35: South America Industrial Hand Tools Market Value, by Country/Sub-Region, US$ Mn, 2017-2031
Figure 36: South America Industrial Hand Tools Market Incremental Opportunity, by Country/Sub-Region, 2023-2031
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Industrial Hand Tools Market
