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Hitter Based Hand Tools Market By Type (Hammers, Mallets, Axes, Shovels, Crowbars), By Application (Household & DIY, Construction, Woodworking & Framing, Manufacturing & Fitting, Mining, Forestry & Agriculture, Rescue Management) - Growth, Future Prospects, And Competitive Landscape, 2019 -2027

Increasing Focus on Do-It-Yourself Activities Is Driving the Hitter-Based Hand Tools Market

Globally, the hitter-based hand tools market is expected to grow with a CAGR of 5.5% during the forecast period from 2019 to 2027. Hand tools are those that require manual efforts when being handled rather than using some energy or motor. Therefore, these tools are largely used in household as well as industrial applications. Furthermore, people across the globe are moving towards doing things on their own since the emergence of the concept of D.I.Y. (do-it-yourself). Therefore, increasing home-based activities in construction, landscaping, and so on are largely driving the adoption of hitter-based hand tools across the globe.

Furthermore, the growing rate of production of hand tools, increasing consumer base in emerging economies, and increasing adoption of online marketing, sales, and distributing channels are some of the factors fueling the growth of hitter based hand tools market. Moreover, changing consumer preferences and development in manufacturing methodologies enable providers to offer innovative products through various distribution channels. However, the availability of machines that can do the same work as hand tools with minimum effort, increasing automation, and growing industrialization are some factors restraining the growth of this market during the forecast period.

Market Synopsis

Shovels Segment Dominated the Global Market

Based on product type, the hitter-based hand tools market is segmented into shovels, hammers, mallets, axes, and crowbars. The shovels held a maximum market share of around 30% in 2018. Factors such as the increasing popularity of home activities such as gardening and commercial and residential landscaping are primarily driving the demand for shovels across the globe. Furthermore, increasing construction activities drive the adoption of hammers and axes in residential and commercial sectors.

Asia-pacific To Witness a Fastest Growth in the Market by Region

In 2018, North America led the global hitter-based hand tools market by holding a market share of over 38% of the total revenue generated. The increasing dominance of D.I.Y. activities, growing production capabilities of local manufacturers, and rapid industrialization and product innovation are some factors attributed to the prominent market position in the global industry. Asia-Pacific and European countries are likely to grow at a significant CAGR during the forecast period as the agriculture sector is prominent in these regions.

Some of the prominent players operating in the hitter-based hand tools market include Stanley Black & Decker, Inc., Apex Tool Group L.L.C., Snap-on Incorporated, Q.E.P. Co., Inc., Vaughan &, Bushnell Manufacturing, Estwing Manufacturing Company Incorporated, The AMES Companies, Inc., A.B.C. Hammers, Inc., Techtronic Industries Co. Ltd., and Hardcore Hammers.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The hitter-based hand tools market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global hitter-based hand tools market based on product type, application, and geography. Key segments covered in the report are as follows:

 

Segmentation Product Type Segment (2017–2027; US$ Bn)

  •  Hammers
  •  Mallets
  •  Axes
  •  Shovels
  •  Crowbars 

End User (2017–2027; US$ Bn)

  •  Household & D.I.Y.
  •  Construction
  •  Woodworking & Framing
  •  Manufacturing & Fitting
  •  Mining
  •  Forestry & Agriculture
  •  Rescue Management 

Geography Segment (2017–2027; US$ Bn)

  •  North America (the U.S., Rest of North America)
  •  Europe (U.K., Germany, France, Rest of Europe)
  •  Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  •  Rest of the World (the Middle East & Africa, Latin America)

Unique data points of this report

  • Statistics on hitter-based hand tools penetration and spending worldwide
  • Recent trends across different regions in adopting hitter-based hand tools for various applications exist.
  • Notable developments going on in hitter based hand tools market
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

Frequently asked questions :

The market for Hitter Based Hand Tools Market is expected to reach US$ XX Bn by 2027.

The Hitter Based Hand Tools Market is expected to see significant CAGR growth over the coming years, at 5.5%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Stanley Black & Decker, Apex Tool Group LLC, Snap-on Incorporated, Q.E.P. Co., Bushnell Manufacturing are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Oct 2019
Category:  Automation & Process Control
Report ID:   59979
Report Format:   PDF
Pages:   120
Rating:    4.1 (69)
Delivery Time: 24 Hours to 48 Hours   
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