Pune, India -- (SBWire) -- 12/19/2019 --Infinium Global Research has recently published a report on the "Hand Tools Market (Product Type - Cutters, Saws, Screw Drivers, Wrenches, and Other Product Types; Sales Channel - Distributor Sales, and Online Sales; End-use - Residential, and Commercial): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." The global hand tools market is projected to grow at a CAGR of 4.66% over the forecast period of 2019-2025.
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According to the IGR research analysts, the key factor driving the growth of the market is the growing inclination of consumers towards the Do-It-Yourself approach. DIY projects at home give unique experience such as woodworking to repairing stuff, modifying furniture and much more. Hand tools are perfect to make a DIY project a success whether it is to fix, to assemble, to disassemble or just to piece two or three things together.
Commercial Segment is Expected to Gain Maximum Hand Tools Market Share
The report gives an in-depth analysis of the global hand tools market, focuses on market opportunities along with trends driving the market. The report provides an extensive quality insights on the potential and niche segments or regions exhibiting favorable growth. It provides the market segmentation by product type (cutters, saws, screw drivers, wrenches and other product types), by sales channel (distributor sales and online sales) by end-use (residential and commercial) and by region. According to IGR analysts' commercial segment is expected to gain maximum hand tools market share due to several applications such as metal cutting and other industrial purposes.
North America is Anticipated to Hold the Highest Market Share During the Forecast Period
North America holds the highest market share owing to increasing infrastructure projects tend to the growth in the reconstruction industry that in turn increased the demand for hand tools in the region. The increasing shift towards DIY culture owing to the increasing labor cost in this region is driving the growth of the hand tools market. Consumers have increased the adoption of self – help approach in order to make, modify and repair at home.
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Top Key Players in the Global Hand Tools Market
The key players featured in the report are Robert Bosch GmbH, Stanley Black & Decker, Inc., Apex Tool Group, LLC, AIMCO Global, JPW Industries, Snap-on Inc., Emerson Electric Co., Akar Auto Industries Limited, Klein Tools, Inc., and Other Companies. In May 2019, JPW Industries acquired Baileigh Industrial. Founded in 1999, Baileigh is a leading marketer, manufacturer and distributor of over 500 metalworking and woodworking products sold under the Baileigh® brand across the U.S. and Europe. Through its wholly owned subsidiary, RMD, Baileigh designs and manufactures high-quality, "made-in-the-USA" Baileigh-branded metalworking machinery.
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The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider.
The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of hand tools market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the hand tools.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
