Mechanical hand tools are widely used in the construction industry. The rise in the number of manufacturing plants, increase in demand for professional hand tools kit and demand for wooden furniture are some of the factors which will help to push the market towards growth. 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.
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The market has been analyzed based on the three segments of types, application and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of type, it has further been segmented as edge tools, hand service tools, handsaw and other. Hand service tools accounted for the largest market share of 36.80% in 2016, with a market value of USD 5,904.2 million. On the basis of application, the segments include construction industry, decoration industry and household application. Construction industry is responsible for major investment and contributes to the economic development of the economy.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.
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.
We recognize the key players in the global mechanical hand tools market as 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.
Objective of the Report
• To provide detailed analysis of the market structure along with forecast for the next 6 years of various segments and sub-segments of the mechanical hand tool market
• To provide insights about factors affecting the market growth
• To analyze the global mechanical hand tool market based on various tools such as Value Chain Analysis, and Porter’s Five Forces Analysis
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
• To provide country level analysis of the market with respect to the current market size and future prospective
• To provide country level analysis of the market for segments by type, application and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the mechanical hand tool market
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• Research Institute / Education Institute
• Potential Investors
• Hand Service Tools segment expected to witness growth in global mechanical hand tools market with share of 36.8% in 2016, in terms of value. It is expected to grow at 4.15% CAGR during the forecast period
• Construction industry segment is expected to witness highest growth of 3.81% CAGR from 2017 to 2023
• North America dominate the global mechanical hand tools market with a share of 35.3% in 2016, in terms of value. It is expected to grow at a CAGR of 3.50% during the forecast period
The report also covers country level analysis:
• North America
o Rest of Europe
o Rest of Asia-Pacific
• Rest of the World
o Latin America
o Middle East & Africa
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