Sep 8, 2023   SOURCE: BusinessWire

United States Hand Tools Market Report 2023: Competition, Forecasts & Opportunities, 2018-2028 - Market Surges as DIY Enthusiasts Lead the Way - ResearchAndMarkets.com

The "United States Hand Tools Market By Product Type (Wrenches, Pliers, Screwdrivers, Hammers, Cutters, and Others (Clamps & Vices, etc.)), By Application, By Distribution Channel, By Region, By Company, Forecast & Opportunities, 2018-2028" report has been added to ResearchAndMarkets.com's offering.

The United States hand tools market size is anticipated to register an impressive CAGR to 2028.

It is expected that the growing demand for tools with simple controls would increase tool output, accelerating industry growth. Additionally, the growing use of hand tools in aerospace, automotive, manufacturing, metalworking, and other sectors could accelerate industry growth.

Additionally, it is anticipated that increased manufacturing activity will increase sales of the hand tool. Additionally, it is anticipated that the tools' affordability will draw customers. In the upcoming years, these elements might encourage market expansion. In order to cut down on time requirements and boost operational efficiency, tool manufacturers concentrate on creating high-performance, multifunctional tools. As more sectors use the product, producers are compelled to create effective and long-lasting tools.

Furthermore, the growing development of multipurpose tools is probably going to promote market growth. Additionally, producers want to provide innovations to draw in business expansion and increase the use of hand tools. These elements could fuel the expansion of the hand tool market.

Consumer desire for hand tools and equipment for repair and modification is being driven by the growing influence of social media and expert repair tutorials. The need for convenience furniture and other items with quick assembly and disassembly capabilities is also significantly driving the demand for hand tools in the US.

During the forecast period, it is also projected that the availability of a wide variety of multifunctional tools meeting various consumer needs will enhance demand for hand tools in the United States. Additionally, with the development of technology, manufacturers are now able to create reliable tools using a variety of raw materials, including iron, black metal, and steel.

Increasing Trend of Do-It-Yourself Activities Fuels Market Growth

Consumer preferences are changing as a result of the development of technological solutions such as voice assistance and smart homes. Additionally, the abundance of knowledge on the internet about almost anything is promoting the do-it-yourself (DIY) trend, in which customers solve problems on their own without consulting an expert.

Do-it-yourself projects include building, fixing, and maintaining things around the house or in cars, such as replacing the tires. As a result, demand for hand tools such as hammers and screwdrivers is rising. Due to Covid-19 and the subsequent lockdowns have increased the do-it-yourself tendency. Additionally, the DIY home renovation sector is expanding rapidly, which is fueling market expansion.

The use of home repair tools, equipment, and appliances is increasing as a result, which is boosting the market growth for hand tools in the United States.

New Product Launches Fuels Market Growth

American companies are manufacturing new products for the convenience of consumers, which fuels the demand and growth of the hand tools market in the United States. For instance, DEWALT launched the new TOUGHSERIES hand tools, which are redefining the standard of tough.

TOUGHSERIES hammers are 5X more robust than prior models, while TOUGHSERIES screwdrivers boast 10X more corrosion resistance than previous models. TOUGHSERIES tapes feature casing that withstands a 100-foot drop.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in United States hand tools market

  • Stanley Black & Decker, Inc.
  • Klein Tools, Inc.
  • Snap-on Tools Company LLC
  • Kennametal Inc.
  • Channellock, Inc.
  • JPW Industries Inc.
  • IDEAL Industries Inc.
  • CS Unitec, Inc.
  • Reed Manufacturing Co.
  • Vaughan & Bushnell Mfg. Co.

Report Scope:

Voice of Customer

  • Brand Awareness
  • Factors Influencing Purchase Decision
  • Challenges Faced Post Purchase

United States Hand Tools Market, By Product Type:

  • Wrenches
  • Pliers
  • Screwdrivers
  • Hammers
  • Cutters
  • Others

United States Hand Tools Market, By Application:

  • Industrial
  • Commercial
  • Home Use (DIY)

United States Hand Tools Market, By Distribution Channel:

  • Offline
  • Online

United States Hand Tools Market, By Region:

  • South
  • West
  • Mid-West
  • North-East

For more information about this report visit https://www.researchandmarkets.com/r/hxrca8

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