Hand Tools Market – Industry Trends and Forecast to 2028
MarkNtel Advisors, a prominent market research firm, has recently published a report titled Hand Tools Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028. This study offers an in-depth examination of the industry, encompassing Hand Tools market share, size, trends, and growth predictions. Additionally, the report features an analysis of competitors and regions while spotlighting the most recent developments in the market.
Hand Tools Reports Highlights
What is the size of the Hand Tools Market?
The Global Hand Tools Market is projected to grow at a CAGR of around 4.8% during the forecast period, i.e., 2023-28. The prime factors that steer the growth of the market involve surging demand from automotive operations and reparations sectors with innovations in the production technology of hand tools. As such, the functions of such equipment for manual operations such as sawing, forging, chopping, filling, fitting, and latching have led to the growth of machinery and equipment manufacturing sectors across the globe, offering lucrative growth opportunities for the key players during the forecast period.
What do the growth prospects and trends look like in the Hand Tools Industry?
Surge in Residential as well as Commercial Infrastructural Projects Owing to Rapid Urbanization – Numerous governments from developing economies initiated measures towards infrastructural development, industry expansion, and necessary investments in the commercial and residential sectors to promote ongoing urbanization. As a result, projects dealing with constructing roads, railways, airports, energy, and commercial and residential buildings have been inaugurated or announced in the past few years.
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What Components are encompassed within Hand Tools Market segmentation?
The report has divided the market into the following segments:
By Product Type
-Metal Working Tools
-Others (Gauges, Clamps, etc.)
By Sales Channel
-Company Direct Sales
-The Middle East & Africa
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Who are the Primary Companies or Entities active in the Industry?
The report covers the major market players including:
-Akar Tools Ltd.
-Apex Tool Group
-C&A Hardware Tools Co. Ltd
-JK Files Limited
-Klein Tools, Inc.
-Mittalbhai Projects Pvt Ltd
-Shandong Pangu Industrial Co.,Ltd.
-Stanley Black & Decker, Inc
-Zhejiang SALI Abrasive Technology Co.,Ltd
-Others (JCBL Group, Emerson Electric Co., etc.
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