Rockville, MD -- (SBWIRE) -- 02/25/2019 -- Tool Pliers Marke t Introduction
Pliers are a hand tool, commonly used to hold an object firmly, and also for compressing and bending a wide variety of materials. They are termed as multi-purpose hand tool consisting of parallel handles, a pivot, and parallel jaws that enable to grip an object. Pliers are of many types varying in shape, size, and structure, depending on its application. Some of them include electrical pliers to hold and bend electrical wires and engineer's pliers for gripping metals, while nosed and round nosed pliers are used to grip smaller objects and to bend wire in loops respectively. In addition, working life and durability of tool pliers depend on the quality, design, load, and frequency of use.
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With rapid urbanization in developing countries, there has been growing need for landscaping in commercial as well as residential area, for aesthetic appeal. This has led to surge in application and demand for tool pliers in the recent years. It is also largely used in home repairs, gardening, and maintenance. Tool pliers ease several repairing activities and comes handy in home emergencies which need to be fixed instantly. With growing penetration of DIY and remodeling activities in the recent years, there has been an increase in the use of hand tools such as tool pliers that require no power, fuel, and can utilize at any time. Moreover, tool pliers are lightweight, easy to use, transport, and maintain.
Tool pliers market is likely to witness a significant growth in the coming years with rising scope of its applications across various industries around the globe. The growth of tool pliers market is expected to be mainly driven by increasing automotive repair and maintenance activities. Growing number of industrial and manufacturing plants worldwide is deemed to be a growth driving factor of the tool pliers market.
With increasing online shoppers, manufacturers of tool pliers are changing their retail strategies and have started to adopt e-commerce sites to offer various products based on customer requirements. This approach is likely to expand their customer base across different geographies and in turn provide growth opportunities of overall tool pliers market. Further, rapid growth in residential and commercial construction activities coupled with rising demand for wood-based products will continue to remain growth determinant of tool pliers market. However, this tool takes relatively long time to complete a simple task and safety concerns associated with the use of tool pliers are likely create hindrance in the market growth.
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Tool Pliers Market: Regional Outlook
Global sales of the tool pliers primarily depend on the spread of industrialization and maintenance activities across various regions. Among all the countries in Asia Pacific, China and India are envisioned to play an important role in driving the growth of tool pliers market, owing to infrastructural development activities coupled with economic growth. North America will continue to be a remunerative region for tool pliers market due to strong growth of the construction sector. Maximum revenue of North America tool pliers market is expected to be generated from the US. Europe tool pliers market is foreseen to witness a significant growth while Latin America and Middle East are expected to offer substantial growth prospects for tool pliers market.
Tool Pliers: Key Market Participants
Product innovations are readily adopted by the key market participants in the tool pliers market. Manufacturers are continuous focusing on improving the efficiency their product to suit preferences of different customers, thereby to increase the usage and application. Some of the top players identified in the value chain include:
The Great Wall
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