The global hand tools market is estimated to record a substantial CAGR of 2.8% during the forecast period (2020-2026). Hand tools today are highly driven by external factors including the usage environment. The evolution in the segment also happens through technification of its driving force, which is increasingly less dependent on human strength. Further, the current scenario for the tools industry is moving in the direction of greater technification, alongside greater autonomy and the mode of operation. Despite the consistent changes in the tools industry, the four principles of percussion, cutting, leverage, and rotation are set to be a standard in the coming years as well.
Browse the full report description of "Global Hand Tools Market Size, Share & Trends Analysis Report by Tool Type (General Purpose Tools, Cutting Tools, Layout and Measuring Tools, and Taps and Dies) and by End-User (Commercial, Industrial, and Residential) Forecast Period (2020-2026)" at https://www.omrglobal.com/industry-reports/hand-tools-market
The global hand tools market suffered a slowdown on account of the COVID-19 crisis as most of the economic activities were halted in 2020, especially during Q1 and Q2 2020. Most of the major revenue-generating end-users such as construction, automotive, commercial renovation, and home improvement activities were affected, leading to a decline in sales of hand tools. The curfew and lockdown procedures prevented the extensive application of hand tools by workers and contractors, thereby affecting the overall revenue generation for the market during the period. The utilization of hand drills, wrenches, drivers, cutters, and saws, which were considered as the major revenue-generating tools in the market, was potentially reduced during the early part of 2020.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region/segment
Global Hand Tools Market Report Segment
By Tool Type
o Hammers
o Clamps and Vises
o Pliers
o Ratchets and Sockets
o Riveters
o Screwdrivers and Nut Drivers
o Wrecking Bars
o Wrenches
o Chisel and Files
o Cable and Wire Cutting Tools
o Knives and Blades
o Saws
o Plumb Bob
o Try Square
By End-User
Global Hand Tools Market Report Segment
North America
Europe
Asia-Pacific
Rest of the World
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