The global household and DIY hand tools market grew by approximately USD 22.36 billion in 2021 and is expected to grow by approximately USD 32.67 billion by 2028, at a compound annual growth rate (CAGR) of nearly 4.5%during the forecast period.
Household and DIY Hand Tools Market: Overview
A hand tool is any device that is powered by the user’s hands as opposed to a motor. DIY and domestic tools include pliers, wrenches, cutters, screwdrivers, striking, hammering, vises, saws, clamps, knives, and other hand tools. Tools used outside include things like pruning shakes, rakes, and garden forks. With the expansion of urbanisation and development projects, these instruments’ significance is rising.
The need for accelerated urbanisation and infrastructure development is always rising. All of the main governments have been observed making critical industrial investments to assist infrastructure growth. Roads, trains, airports, utilities, energy, and industrial and residential buildings are just a few examples of infrastructure development projects. Infrastructure development is being impacted by construction projects in the United States, China, India, and Japan, and this trend is anticipated to pick up speed in the future years. The need for hand tools increases as the needs of the construction sector change, and hand tool makers may be seen concentrating on upgrading their goods to suit the demand.
Household and DIY Hand Tools Market: Segmentation
The type, application, and regional divisions make up the three subgroups of the global market for household and DIY hand tools. Metal cutting tools, taps and dies, layout and measuring tools, and general-purpose tools are the four divisions of the market. The market is segmented by application, including categories for consumer electronics, IT telecommunications, and home appliances.
The Slain Lineman Memorial Knife, a limited-edition knife honouring the lives of deceased utility line workers, was issued in March 2021 by Klein Tools, Inc.
The Klein-Kurve Wire Stripper/Cutter, a tough stamped wire remover with six strip holes and shear blades for cutting, as well as a comfortable grip and improved lock, was released by Klein Tools, Inc. in February 2021.
Household and DIY Hand Tools Market: Competitive Landscape
Major players operating in the global household and DIY hand tools market include Snap-On Incorporated., Akar Tools Limited, Stanley Black and Decker, Wera Tools, Techtronic Industries Co. Ltd., Apex Tool Group, JCBL India, Klein Tools Inc., Emerson Electric Co, and Channellock, Inc.
Global household and DIY hand tools market is segmented as follows:
General Purpose Tools
Metal Cutting Tools
Layout and Measuring Tools
Taps and Dies
Entertainment and Consumer Electronics
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East Africa
Rest of Middle East Africa
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