Hand Tools Market in UK by End-user and Application - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR71088
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The hand tools market in UK has the potential to grow by USD 163.73 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.09%.

This hand tools market in UK research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (industrial and household) and application (general-purpose, metal cutting, and others). The hand tools market report of UK also offers information on several market vendors, including Channellock Inc., Draper Tools Ltd., Kennametal Inc., KNIPEX-Werk, Milwaukee Electric Tool Corp., Snap-on Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Thomas Flinn and Co., and Wera Werkzeuge GmbH among others.

What will the Hand Tools Market Size in UK be in 2021?

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Hand Tools Market in UK: Key Drivers and Trends

The growing popularity of DIY activities is notably driving the UK hand tools market growth, although factors such as fluctuating raw material prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hand tools industry in UK. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The rising DIY home improvement trend across the globe is expected to be a key factor driving the hand tools market in UK because of the growing preference for hand tools in home improvement applications. 
  • The popularity of DIY activities among people is growing rapidly, especially regarding household issues such as carpentering, plumbing, and electrical applications.
  • The growth is mainly attributed to the high cost of professional services, the digital promotion of DIY skills by bloggers and vloggers, and the concerns about privacy among consumers.
  • The growth of the construction industry (including residential and commercial construction) and the increase in disposable incomes are expected to drive the demand for hand tools during the forecast period. 
  • The global housing market witnessed significant growth over the last three years, particularly in developed countries, such as the UK.
  • The growth of the housing market is mainly supported by the increasing adoption of modern residential dwellings, the rising consumer spending on housing, and improved economic conditions.
  • Hand tools have become popular in almost all new residential establishments.

This hand tools market in UK analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Hand Tools Market Vendors in UK?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Channellock Inc.
  • Draper Tools Ltd.
  • Kennametal Inc.
  • KNIPEX-Werk
  • Milwaukee Electric Tool Corp.
  • Snap-on Inc.
  • Stanley Black and Decker Inc.
  • Techtronic Industries Co. Ltd.
  • Thomas Flinn and Co.
  • Wera Werkzeuge GmbH

 

This statistical study of the hand tools market in UK encompasses successful business strategies deployed by the key vendors. The UK hand tools market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The hand tools market forecast report of UK offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating End-user Segments in the Hand Tools Market in UK?

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The hand tools market share growth in UK by the industrial segment will be significant during the forecast period. A key factor driving the demand for hand tools is the growth of the industrial sector. This growth can be attributed to the increased industrial output, which is driven by industry (including construction) value-added applications. The increase in manufacturing processes will drive the demand for manufacturing and support equipment, including hand tools, during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the UK hand tools market size and actionable market insights on post COVID-19 impact on each segment.

 

Hand Tools Market Scope in UK

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.09%

Market growth 2021-2025

$ 163.73 million

Market structure

Fragmented

YoY growth (%)

5.80

Key consumer countries

UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Channellock Inc., Draper Tools Ltd., Kennametal Inc., KNIPEX-Werk, Milwaukee Electric Tool Corp., Snap-on Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Thomas Flinn and Co., and Wera Werkzeuge GmbH

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Hand Tools Market Report of UK?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive hand tools market growth in UK during the next five years
  • Precise estimation of the hand tools market size in UK and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hand tools market vendors in UK 

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • General-purpose - Market size and forecast 2020-2025
    • Metal cutting - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Application

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Industrial - Market size and forecast 2020-2025
    • Household - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Channellock Inc.
    • Draper Tools Ltd.
    • Kennametal Inc.
    • KNIPEX-Werk
    • Milwaukee Electric Tool Corp.
    • Snap-on Inc.
    • Stanley Black and Decker Inc.
    • Techtronic Industries Co. Ltd.
    • Thomas Flinn and Co.
    • Wera Werkzeuge GmbH

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
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    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
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    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
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    The hand tools market growth will increase by $163.73 million during 2020-2025.
    The hand tools market is expected to grow at a CAGR of 6.09% during 2020-2025.
    Technavio has segmented the hand tools market by end user (Industrial and Household) ,application (General-purpose, Metal cutting, and Others) , and geographic (Albania).
    Channellock Inc., Draper Tools Ltd., Kennametal Inc., KNIPEX-Werk, Milwaukee Electric Tool Corp., Snap-on Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Thomas Flinn and Co., Wera Werkzeuge GmbH are a few of the key vendors in the hand tools market.
    Albania will register the highest growth rate of NaN% among the other regions. Therefore, the hand tools market in Albania is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the hand tools market growth are:
    • Growing popularity of DIY activities
    The hand tools market vendors should focus on grabbing business opportunities from the industrial segment as it accounted for the largest market share in the base year.
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