PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1584645
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1584645
United States Hand Tools Market, By Product Type (Spanners, Pliers/Pincers, Household Tools, Wrenches, Screwdrivers, Hammers/Sledge Hammers, Others ); By Application; By Distribution Channel, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
United States Hand Tools Market Size to Surpass USD 6.9 Billion by 2030
United States Hand Tools Market is flourishing due to the burgeoning construction industry across the country, coupled with the growing popularity of DIY projects and the expansion of diverse sectors.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated United States Hand Tools Market size by value at USD 5.29 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects United States Hand Tools Market size to expand at a CAGR of 3.8% reaching a value of USD 6.91 billion by 2030. The Hand Tools Market in United States is propelled by an increasing performance, affordability, and accessibility, particularly in regions with surging industrial and DIY activities. The growing trend of DIY projects in developed economies has notably boosted the demand for tools like wrenches and hammers. Advancements in ergonomic designs, lightweight materials, and sustainable production have enhanced their usability. Also, emerging technologies, such as 3D printing, are set to revolutionize the market by enabling customized, efficient, and sustainable tool production.
Impact of Escalating Geopolitical Tensions on United States Hand Tools Market
United States Hand Tools Market may face significant challenges from intensifying geopolitical tensions across the world. These tensions can disrupt supply chains, driving up the cost of essential raw materials like steel and aluminum. Trade barriers and tariffs can further strain production by hindering the import and export of key components. Moreover, political instability in certain regions may limit market access and delay technological advancements. As a result, manufacturers may face increased production costs, supply shortages, and fluctuating demand, all of which could impede market growth and competitiveness.
Offline Distribution Channel Holds Larger Share of US Hand Tools Market
The offline segment accounts for a larger share of United States Hand Tools Market by distribution channel. The offline segment of the hand tool market encompasses retail distribution channels such as stores, malls, and supermarkets. In recent years, offline segment has witnessed a significant surge in transactions, particularly within the manufacturing and processing sectors. The increasing demand for hand tools in industries like automotive and industrial has fueled this growth. Moreover, the expansion of hand tool manufacturers' retail presence has created promising opportunities for market players in the coming years, as they seek to enhance their product offerings and maintain a competitive edge.
Competitive Landscape
United States Hand Tools Market is fragmented, with numerous players serving the market. The key players dominating United States Hand Tools Market include Stanley Black & Decker, Inc., Klein Tools, Ideal Industries Inc., Acme Tools Inc., Snap-on Tools, Inc., Mac Tools and Forge Company, Matco Tools Corporation, Cornwell Quality Tool Co., Apex Tools Group, and Sherman-Klove Company (SK Tools). The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and United States Hand Tools Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in United States Hand Tools Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. United States Hand Tools Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Ongoing construction boom in the United States
- 3.2.1.2. Growing popularity of DIY (Do-It-Yourself) projects
- 3.2.1.3. Expansion of various industries
- 3.2.2. Restraints
- 3.2.2.1. Competition from power tools
- 3.2.2.2. Rising Product costs
- 3.2.3. Opportunities
- 3.2.3.1. Growth and expansion of online retail platforms
- 3.2.3.2. Increasing demand for specialized hand tools
- 3.2.4. Challenges
- 3.2.4.1. Prevalence of counterfeit hand tools
- 3.2.4.2. Shortage of skilled labor in manufacturing
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. United States Hand Tools Market: Pricing Analysis
5. United States Hand Tools Market: Marketing Strategies
6. United States Hand Tools Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.1.1. Spanners
- 6.2.1.2. Pliers/Pincers
- 6.2.1.3. Household Tools
- 6.2.1.4. Wrenches
- 6.2.1.5. Screwdrivers
- 6.2.1.6. Hammers/Sledge Hammers
- 6.2.1.7. Others (Grease Guns, Metal Working Tools)
- 6.2.2. By Application
- 6.2.2.1. Construction
- 6.2.2.2. Manufacturing
- 6.2.2.3. Automotive
- 6.2.2.4. Electrical
- 6.2.2.5. Plumbing
- 6.2.2.6. Gardening & Landscaping
- 6.2.2.7. Home Improvement & DIY
- 6.2.3. By Distribution Channel
- 6.2.3.1. Online
- 6.2.3.2. Offline
- 6.2.1. By Product Type
7. Competitive Landscape
- 7.1. List of Key Players and Their Offerings
- 7.2. United States Hand Tools Company Market Share Analysis, 2023
- 7.3. Competitive Benchmarking, By Operating Parameters
- 7.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on United States Hand Tools Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 9.1. Stanley Black & Decker, Inc.
- 9.2. Klein Tools
- 9.3. Ideal Industries Inc.
- 9.4. Acme Tools Inc.
- 9.5. Snap-on Tools, Inc.
- 9.6. Mac Tools and Forge Company
- 9.7. Matco Tools Corporation
- 9.8. Cornwell Quality tool Co.
- 9.9. Apex Tools Group
- 9.10. Sherman-Klove Company (SK Tools)
- 9.11. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1. Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1. Secondary Research
- 11.3.2. Primary Research
- 11.4. Breakdown of Primary Research Respondents
- 11.5. Assumption & Limitation
* Financial information of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1 United States Hand Tools Market Segmentation
- Figure 2 United States Hand Tools Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 United States Hand Tools Market Size, By Value (USD Billion), 2019-2030
- Figure 5 United States Hand Tools Market Share, By Product Type, By Value (USD Billion), 2019-2030
- Figure 6 United States Hand Tools Market Share, By Application, By Value (USD Billion), 2019-2030
- Figure 7 United States Hand Tools Market Share, By Distribution Channel, By Value (USD Billion), 2019-2030
List of Tables
- Table 1 United States Hand Tools Market Size, By Value (USD Billion), 2019-2030
- Table 2 United States Hand Tools Market Share, By Product Type, By Value (USD Billion), 2019-2030
- Table 3 United States Hand Tools Market Share, By Application, By Value (USD Billion), 2019-2030
- Table 4 United States Hand Tools Market Share, By Distribution Channel, By Value (USD Billion), 2019-2030
- Table 5 Stanley Black & Decker, Inc. Company Overview
- Table 6 Stanley Black & Decker, Inc. Financial Overview
- Table 7 Klein Tools Company Overview
- Table 8 Klein Tools Financial Overview
- Table 9 Ideal Industries Inc. Company Overview
- Table 10 Ideal Industries Inc. Financial Overview
- Table 11 Acme Tools Inc. Company Overview
- Table 12 Acme Tools Inc. Financial Overview
- Table 13 Snap-on Tools, Inc. Company Overview
- Table 14 Snap-on Tools, Inc. Financial Overview
- Table 15 Mac Tools and Forge Company Overview
- Table 16 Mac Tools and Forge Company Financial Overview
- Table 17 Matco Tools Corporation Company Overview
- Table 18 Matco Tools Corporation Financial Overview
- Table 19 Cornwell Quality tool Co. Company Overview
- Table 20 Cornwell Quality tool Co. Financial Overview
- Table 21 Apex Tools Group Company Overview
- Table 22 Apex Tools Group Financial Overview
- Table 23 Sherman-Klove Company (SK Tools) Company Overview
- Table 24 Sherman-Klove Company (SK Tools) Financial Overview
