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Hand Tools Market by Application, End-user, and Geography - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 152
  • SKU: IRTNTR40224
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The hand tools market share is expected to increase by USD 2.11 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.96%.

This hand tools market 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 hand tools market segmentations by application (general-purpose, metal cutting, and others), end-user (industrial and household), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The hand tools market report also offers information on several market vendors, including Akar Auto Industries Ltd., Apex Tool Group LLC, Bitburger Holding GmbH, Channellock Inc., Crossman Tool Co. Ltd., Emerson Electric Co., Excelta Corp., IDEAL Industries Inc, JCBLGroup, JPW Industries Inc., Kennametal Inc., Klein Tools Inc., KNIPEX Werk, Kyoto Tool Co. Ltd, Raymond Trade Tools, Snap on Inc, Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Truper SA de CV, and Wiha Werkzeuge GmbH among others.

What will the Hand Tools Market Size be During the Forecast Period?

Hand Tools Market Size

Download Report Sample to Unlock the Hand Tools Market Size for the Forecast Period and Other Important Statistics

 

Hand Tools Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The huge demand from developing economies is notably driving the hand tools market growth, although factors such as fluctuating raw material prices may impede the 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. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Hand Tools Market Driver

The huge demand from developing economies is one of the key drivers supporting the hand tools market growth. Typically, rapid industrialization in economies such as Brazil, Russia, India, China, and South Africa (BRICS) is creating considerable demand for hand tools. Growing investments in the manufacturing sector in developing countries are further increasing the consumption of hand tools. Hence, the rise in industrialization is expected to support the demand for hand tools during the forecast period. Several other regions, such as South America and MEA, are also exhibiting an increase in manufacturing activities, particularly in the consumer durables sector. As these regions are undergoing rapid urbanization, manufacturers and customers seek new and technologically advanced products, which is further driving the market growth.

Key Hand Tools Market Trend

The introduction of ergonomically designed hand tools is one of the key hand tools market trends contributing to the market growth. Several vendors are focusing on improving the ergonomics of their hand tools to prevent accidents, which are common in industrial and commercial facilities while using hand tools. Ergonomically designed hand tools improve the comfort of users and reduce the limitations associated with hand tools. To reduce the number of accidents in industrial and commercial facilities, organizations such as the OSHA and the ANSI have implemented regulations that specify the design and features of hand tools. Such regulations also improve the ergonomics of hand tools. Hence, such innovations in the design of hand tools will drive the growth of the market during the forecast period.

Key Hand Tools Market Challenge

Fluctuating raw material prices is one of the factors hindering the hand tools market growth. Substrates, such as iron, steel, aluminum, plastic, and carbon fibers, are mainly used for the production of hand tools. The fluctuations in the prices of raw materials and the increasing competition from local manufacturers, especially in emerging economies, are posing a strong challenge to the vendors in the global hand tools market and impacting the final prices of hand tools. Moreover, the fluctuations in raw material prices and crude oil prices bring uncertainties to the market and adversely affect production costs. Hence, the fluctuations in raw material and crude oil prices would negatively impact the growth of the market during the forecast period.

This hand tools market 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 2022-2026.

Parent Market Analysis

Technavio categorizes the global hand tools market as a part of the global household appliances market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hand tools market during the forecast period.

Who are the Major Hand Tools Market Vendors?

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

 

  • Akar Auto Industries Ltd.
  • Apex Tool Group LLC
  • Bitburger Holding GmbH
  • Channellock Inc.
  • Crossman Tool Co. Ltd.
  • Emerson Electric Co.
  • Excelta Corp.
  • IDEAL Industries Inc
  • JCBLGroup
  • JPW Industries Inc.
  • Kennametal Inc.
  • Klein Tools Inc.
  • KNIPEX Werk
  • Kyoto Tool Co. Ltd
  • Raymond Trade Tools
  • Snap on Inc
  • Stanley Black and Decker Inc.
  • Techtronic Industries Co. Ltd.
  • Truper SA de CV
  • Wiha Werkzeuge GmbH

 

This statistical study of the hand tools market encompasses successful business strategies deployed by the key vendors. The hand tools market is fragmented and the vendors are deploying growth strategies such as quality, regulatory compliance, and innovation to compete in the market.

Product Insights and News

  • raymondtradetools.com - Under the unified segment, the company offers drill bits, drop saw blades, hole saws, mag-based cutters, and spade bits.
  • raymondtradetools.com - The company offers hand tools such as 11PN Tap Straight Flute, 900MM Aluminium Pipe Wrench, and 14 UNF HSS Nut Dies.

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 offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Hand Tools Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the hand tools market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Hand Tools Market?

Hand Tools Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

32% of the market’s growth will originate from North America during the forecast period. The US is the key market for the hand tools market in North America. Market growth in this region will be faster than the growth of the market in APAC.

The rapid growth of industrial sectors will facilitate the hand tools market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the regional market witnessed certain challenges owing to the COVID-19 pandemic. However, in the second half of 2020, a surge in sales of hand tools was seen in the household segment to perform household chores remotely to avoid contamination. As a result of these factors, the demand for hand tools is expected to fuel across industries for metal cutting with precession, further leading to the regional market in focus to propel during the forecast period.

What are the Revenue-generating Application Segments in the Hand Tools Market?

Hand Tools Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The hand tools market share growth by the general-purpose segment will be significant during the forecast period. General-purpose hand tools are largely used for construction activities, residential activities, and in industries such as automotive and electrical, and electronics. The main residential applications of general-purpose hand tools include plumbing, carpeting, electric works, and other small or major home improvement activities. Significantly, a key factor driving the demand for general-purpose hand tools among residential users is the growing number of DIY home improvement activities across the globe.

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

 

Hand Tools Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.96%

Market growth 2022-2026

$ 2.11 billion

Market structure

Fragmented

YoY growth (%)

3.25

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 32%

Key consumer countries

US, China, Germany, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Akar Auto Industries Ltd., Apex Tool Group LLC, Bitburger Holding GmbH, Channellock Inc., Crossman Tool Co. Ltd., Emerson Electric Co., Excelta Corp., IDEAL Industries Inc, JCBLGroup, JPW Industries Inc., Kennametal Inc., Klein Tools Inc., KNIPEX Werk, Kyoto Tool Co. Ltd, Raymond Trade Tools, Snap on Inc, Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Truper SA de CV, and Wiha Werkzeuge GmbH

Market dynamics

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

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Hand Tools Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive hand tools market growth during the next five years
  • Precise estimation of the hand tools market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hand tools industry across North America, Europe, APAC, South America, and Middle East and Africa
  • 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

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 25: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 26: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 27: Chart on Comparison by Application
      • Exhibit 28: Data Table on Comparison by Application
    • 5.3 General-purpose - Market size and forecast 2021-2026
      • Exhibit 29: Chart on General-purpose - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Data Table on General-purpose - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Chart on General-purpose - Year-over-year growth 2021-2026 (%)
      • Exhibit 32: Data Table on General-purpose - Year-over-year growth 2021-2026 (%)
    • 5.4 Metal cutting - Market size and forecast 2021-2026
      • Exhibit 33: Chart on Metal cutting - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Data Table on Metal cutting - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Chart on Metal cutting - Year-over-year growth 2021-2026 (%)
      • Exhibit 36: Data Table on Metal cutting - Year-over-year growth 2021-2026 (%)
    • 5.5 Others - Market size and forecast 2021-2026
      • Exhibit 37: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 39: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 40: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 41: Market opportunity by Application ($ million)

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 42: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 43: Data Table on End-user - Market share 2021-2026 (%)
    • 6.2 Comparison by End-user
      • Exhibit 44: Chart on Comparison by End-user
      • Exhibit 45: Data Table on Comparison by End-user
    • 6.3 Industrial - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Industrial - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Industrial - Year-over-year growth 2021-2026 (%)
    • 6.4 Household - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Household - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Household - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Household - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Household - Year-over-year growth 2021-2026 (%)
    • 6.5 Market opportunity by End-user
      • Exhibit 54: Market opportunity by End-user ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 55: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 56: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 57: Data Table on Market share by geography 2021-2026 (%)
    • 8.2 Geographic comparison
      • Exhibit 58: Chart on Geographic comparison
      • Exhibit 59: Data Table on Geographic comparison
    • 8.3 North America - Market size and forecast 2021-2026
      • Exhibit 60: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 61: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 62: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 63: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 8.4 Europe - Market size and forecast 2021-2026
      • Exhibit 64: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 65: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 66: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 67: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 8.5 APAC - Market size and forecast 2021-2026
      • Exhibit 68: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 69: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 70: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 71: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 8.6 South America - Market size and forecast 2021-2026
      • Exhibit 72: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 73: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 74: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 75: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 8.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 76: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 77: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 78: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 79: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 8.8 US - Market size and forecast 2021-2026
      • Exhibit 80: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 81: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 82: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 83: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 8.9 Germany - Market size and forecast 2021-2026
      • Exhibit 84: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 85: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 86: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 87: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 8.10 UK - Market size and forecast 2021-2026
      • Exhibit 88: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 89: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 90: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 91: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 8.11 China - Market size and forecast 2021-2026
      • Exhibit 92: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 93: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 94: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 95: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 8.12 France - Market size and forecast 2021-2026
      • Exhibit 96: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 97: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 98: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 99: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 8.13 Market opportunity by geography
      • Exhibit 100: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 101: Impact of drivers and challenges in 2021 and 2026
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 102: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 103: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 104: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 105: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 106: Matrix on vendor position and classification
            • 11.3 Akar Auto Industries Ltd.
              • Exhibit 107: Akar Auto Industries Ltd. - Overview
              • Exhibit 108: Akar Auto Industries Ltd. - Product / Service
              • Exhibit 109: Akar Auto Industries Ltd. - Key offerings
            • 11.4 Apex Tool Group LLC
              • Exhibit 110: Apex Tool Group LLC - Overview
              • Exhibit 111: Apex Tool Group LLC - Product / Service
              • Exhibit 112: Apex Tool Group LLC - Key offerings
            • 11.5 Emerson Electric Co.
              • Exhibit 113: Emerson Electric Co. - Overview
              • Exhibit 114: Emerson Electric Co. - Business segments
              • Exhibit 115: Emerson Electric Co. - Key news
              • Exhibit 116: Emerson Electric Co. - Key offerings
              • Exhibit 117: Emerson Electric Co. - Segment focus
            • 11.6 IDEAL Industries Inc
              • Exhibit 118: IDEAL Industries Inc - Overview
              • Exhibit 119: IDEAL Industries Inc - Product / Service
              • Exhibit 120: IDEAL Industries Inc - Key offerings
            • 11.7 JPW Industries Inc.
              • Exhibit 121: JPW Industries Inc. - Overview
              • Exhibit 122: JPW Industries Inc. - Product / Service
              • Exhibit 123: JPW Industries Inc. - Key news
              • Exhibit 124: JPW Industries Inc. - Key offerings
            • 11.8 Kennametal Inc.
              • Exhibit 125: Kennametal Inc. - Overview
              • Exhibit 126: Kennametal Inc. - Business segments
              • Exhibit 127: Kennametal Inc. - Key news
              • Exhibit 128: Kennametal Inc. - Key offerings
              • Exhibit 129: Kennametal Inc. - Segment focus
            • 11.9 Raymond Trade Tools
              • Exhibit 130: Raymond Trade Tools - Overview
              • Exhibit 131: Raymond Trade Tools - Product / Service
              • Exhibit 132: Raymond Trade Tools - Key offerings
            • 11.10 Snap on Inc
              • Exhibit 133: Snap on Inc - Overview
              • Exhibit 134: Snap on Inc - Business segments
              • Exhibit 135: Snap on Inc - Key offerings
              • Exhibit 136: Snap on Inc - Segment focus
            • 11.11 Stanley Black and Decker Inc.
              • Exhibit 137: Stanley Black and Decker Inc. - Overview
              • Exhibit 138: Stanley Black and Decker Inc. - Business segments
              • Exhibit 139: Stanley Black and Decker Inc. - Key news
              • Exhibit 140: Stanley Black and Decker Inc. - Key offerings
              • Exhibit 141: Stanley Black and Decker Inc. - Segment focus
            • 11.12 Techtronic Industries Co. Ltd.
              • Exhibit 142: Techtronic Industries Co. Ltd. - Overview
              • Exhibit 143: Techtronic Industries Co. Ltd. - Business segments
              • Exhibit 144: Techtronic Industries Co. Ltd. - Key offerings
              • Exhibit 145: Techtronic Industries Co. Ltd. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 146: Inclusions checklist
                • Exhibit 147: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 148: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 149: Research methodology
                • Exhibit 150: Validation techniques employed for market sizing
                • Exhibit 151: Information sources
              • 12.5 List of abbreviations
                • Exhibit 152: 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
              Technavio

              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
              Technavio

              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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              Hand Tools market growth will increase by $2119.36 million during 2022-2026.
              The hand tools market is expected to grow at a CAGR of 3.96% during 2022-2026.
              Technavio has segmented the hand tools market by application (Industrial and Household) ,end-user (General-purpose, Metal cutting, and Others) , and geographic (North America, Europe, APAC, South America, and Middle East and Africa).
              Akar Auto Industries Ltd., Apex Tool Group LLC, Bitburger Holding GmbH, Channellock Inc., Crossman Tool Co. Ltd., Emerson Electric Co., Excelta Corp., IDEAL Industries Inc, JCBLGroup, JPW Industries Inc., Kennametal Inc., Klein Tools Inc., KNIPEX Werk, Kyoto Tool Co. Ltd, Raymond Trade Tools, Snap on Inc, Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Truper SA de CV, Wiha Werkzeuge GmbH are a few of the key vendors in the hand tools market.
              North America will register the highest growth rate of 32.08% among the other regions. Therefore, the hand tools market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • China
              • Germany
              • UK
              • France
              The key factors driving the hand tools market growth are:
              • Huge demand from developing economies
              • Introduction of ergonomically designed hand tools
              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.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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