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PUBLISHER: Grand View Research | PRODUCT CODE: 1475004
PUBLISHER: Grand View Research | PRODUCT CODE: 1475004
Tools Market Size, Share & Trends Analysis Report By Product (Hand Tools, Power Tools), By Application (Oil & Gas, Automotive, Rail, Aerospace & Defense, Construction), By Region, And Segment Forecasts, 2024 - 2030
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Tools Market Growth & Trends:
The global tools market size is expected to reach USD 61.84 billion by 2030, registering a CAGR of 5.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is attributed to increasing construction spending in developing countries around the world. Manufacturers are continuously introducing new and improved tools equipped with advanced features, such as enhanced performance, durability, and user-friendly designs. For instance, power tools now come with brushless motors for increased efficiency, lithium-ion batteries for longer runtime, and ergonomic designs for improved comfort during prolonged use. These technological advancements make power and hand tools more attractive to both professionals and DIY enthusiasts, leading to increased demand. The construction & infrastructure sectors are experiencing significant growth worldwide, driven by urbanization, population growth, and government investments in infrastructure development.
These projects require a wide range of power tools and hand tools for tasks, such as excavation, concrete work, carpentry, plumbing, and electrical installations. As construction activity intensifies, the demand for tools used in building, renovation, and maintenance projects increases, contributing to the overall market growth. The growing preference for DIY is particularly prompting power tool vendors to introduce affordable and easy-to-use power tools featuring long-lasting batteries for household usage. Home improvement activities typically call for power tools, such as power drills, circular saws, impact wrenches, hammer drills, and grinders. These power tools are available in the market in a diverse range and can be used for various applications, such as roofing, kitchen and bathroom remodeling, and landscaping, among others. As the trend of undertaking these activities is expected to continue over the next few years, the demand for power tools is also anticipated to gain traction over the forecast period.
At the same time, an upsurge in technical jobs, particularly at professional contractors undertaking home improvement and remodeling projects, has also paved the way for the growth of the power tools market. In various industries, such as construction, manufacturing, and automotive, there is a growing emphasis on improving productivity and efficiency. Power tools and hand tools play a crucial role in achieving these goals by enabling workers to complete tasks more quickly and accurately. For instance, power drills, saws, and impact drivers allow for faster assembly, cutting, and fastening, while hand tools like wrenches and pliers facilitate precise adjustments and repairs. As businesses seek to streamline their operations and meet tight deadlines, the demand for tools that enhance productivity continues to rise.
Tools Market Report Highlights:
- The power tool segment led the market with a share of 69.0 in 2023. Power tools are generally more efficient than hand tools, allowing users to complete tasks more quickly and with less physical effort. For instance, a power drill can quickly bore holes through various materials with precision and ease, whereas using a manual drill requires more time and effort. This efficiency is particularly important in industries, such as construction, manufacturing, and woodworking. This increases the adoption of power tools over hand tools
- The construction application segment led the market with a share of 48.6% in 2023. The increasing complexity of construction projects, particularly in commercial developments, necessitates the use of specialized tools and equipment. As construction projects become more complex, the demand for specialized tools grows to meet the evolving needs of builders and contractors
- The aerospace & defense segment is expected to register the fastest CAGR from 2024 to 2030. Globalization of the aerospace & defense industry has led to increased competition and collaboration among manufacturers, suppliers, and service providers worldwide. As companies seek to gain a competitive edge & access new markets, they are investing in cutting-edge technologies and innovative tools to improve efficiency, reduce costs, and enhance capabilities
- Collaborative partnerships and joint ventures between aerospace & defense companies further accelerate technology development and adoption, driving innovation and fueling demand for advanced tools
- The market is highly competitive on account of the presence of many large-scale manufacturers, functioning at a regional or global level with extensive product portfolios. To gain a competitive advantage, these companies undertake strategies, such as expansions, product launches, collaborations, M&As, and R&D
Product Code: GVR-4-68040-261-0
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Market Formulation & Data Visualization
- 1.3.3. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List To Data Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Tools Market Variables, Trends & Scope
- 3.1. Market Lineage/Ancillary Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Technological Overview
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Industry Opportunity Analysis
- 3.5.4. Industry Challenges Analysis
- 3.6. Porter's Five Forces Analysis
- 3.7. PESTLE
Chapter 4. Tools Market: Product Estimates & Trend Analysis
- 4.1. Key Takeaways
- 4.2. Product Movement Analysis & Market Share, 2023 & 2030
- 4.3. Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 4.3.1. Power Tools
- 4.3.1.1. Power Tools Market Estimates & Forecast, 2018 - 2030 (USD Million)
- 4.3.2. Hand Tools
- 4.3.2.1. Hand Tools Market Estimates & Forecast, 2018 - 2030 (USD Million)
- 4.3.1. Power Tools
Chapter 5. Tools Market: Application Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. Application Movement Analysis & Market Share, 2023 & 2030
- 5.3. Tools Market Estimates & Forecast, by Application, 2018 - 2030 (USD Million)
- 5.3.1. Oil & Gas
- 5.3.1.1. Tools Market Estimates & Forecast, by Oil & Gas, 2018 - 2030 (USD Million)
- 5.3.2. Automotive
- 5.3.2.1. Tools Market Estimates & Forecast, by Automotive, 2018 - 2030 (USD Million)
- 5.3.3. Rail
- 5.3.3.1. Tools Market Estimates & Forecast, by Rail, 2018 - 2030 (USD Million)
- 5.3.4. Aerospace & Defense
- 5.3.4.1. Tools Market Estimates & Forecast, by Aerospace & Defense, 2018 - 2030 (USD Million)
- 5.3.5. Construction
- 5.3.5.1. Tools Market Estimates & Forecast, by Construction, 2018 - 2030 (USD Million)
- 5.3.6. Others
- 5.3.6.1. Tools Market Estimates & Forecast, by Others, 2018 - 2030 (USD Million)
- 5.3.1. Oil & Gas
Chapter 6. Tools Market: Region Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Market Share Analysis, 2023 - 2030
- 6.3. North America
- 6.3.1. North America Tools Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. North America Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.3. North America Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.3.4. U.S.
- 6.3.4.1. U.S. Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.4.2. U.S. Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.3.5. Canada
- 6.3.5.1. Canada Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.5.2. Canada Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.3.6. Mexico
- 6.3.6.1. Mexico Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.6.2. Mexico Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.4. Europe
- 6.4.1. Europe Tools Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Europe Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.3. Europe Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.4.4. UK
- 6.4.4.1. UK Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.4.2. UK Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.4.5. Germany
- 6.4.5.1. Germany Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.5.2. Germany Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.4.6. France
- 6.4.6.1. France Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.6.2. France Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.4.7. Italy
- 6.4.7.1. Italy Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.7.2. Italy Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.4.8. Spain
- 6.4.8.1. Spain Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.8.2. Spain Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.5. Asia Pacific
- 6.5.1. Asia Pacific Tools Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Asia Pacific Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.3. Asia Pacific Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.5.4. China
- 6.5.4.1. China Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.4.2. China Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.5.5. India
- 6.5.5.1. India Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.5.2. India Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.5.6. Japan
- 6.5.6.1. Japan Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.6.2. Japan Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.6. Central & South America
- 6.6.1. Central & South America Tools Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. Central & South America Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.6.3. Central & South America Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.6.4. Brazil
- 6.6.4.1. Brazil Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.6.4.2. Brazil Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.7. Middle East & Africa
- 6.7.1. Middle East & Africa Tools Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 6.7.2. Middle East & Africa Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.7.3. Middle East & Africa Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- 6.7.4. Saudi Arabia
- 6.7.4.1. Saudi Arabia Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.7.4.2. Saudi Arabia Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
Chapter 7. Tools Market - Supplier Intelligence
- 7.1. Kraljic Matrix
- 7.2. Engagement Model
- 7.3. Negotiation Strategies
- 7.4. Sourcing Best Practices
- 7.5. Vendor Selection Criteria
Chapter 8. Tools Market - Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Position Analysis, 2023
- 8.4. Company Heat Map Analysis
- 8.5. Strategy Mapping, 2023
- 8.6. Company Profiles
- 8.6.1. Emerson Electric Co.
- 8.6.1.1. Participant's Overview
- 8.6.1.2. Financial Performance
- 8.6.1.3. Product Benchmarking
- 8.6.1.4. Strategic Initiatives
- 8.6.2. Hilti Corporation
- 8.6.3. Zhejiang SALI Abrasive Technology Co., Ltd.
- 8.6.4. Apex Tool Group
- 8.6.5. Makita Corporation
- 8.6.6. Stanley Black and Decker Inc.
- 8.6.7. Robert Bosch GmbH.
- 8.6.8. Husqvarna AB
- 8.6.9. Snap-on Incorporated
- 8.6.10. KOKI HOLDINGS Co., Ltd.
- 8.6.11. Armstrong Tools Inc,
- 8.6.12. Falcon Garden Tools Ltd.
- 8.6.13. Bully Tools
- 8.6.1. Emerson Electric Co.
Product Code: GVR-4-68040-261-0
List of Tables
- Table 1 Power Tools Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Table 2 Hand Tools Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Table 3 Tools Market Estimates & Forecast, by Oil & Gas, 2018 - 2030 (USD Million)
- Table 4 Tools Market Estimates & Forecast, by Automotive, 2018 - 2030 (USD Million)
- Table 5 Tools Market Estimates & Forecast, by Rail, 2018 - 2030 (USD Million)
- Table 6 Tools Market Estimates & Forecast, by Aerospace & Defense, 2018 - 2030 (USD Million)
- Table 7 Tools Market Estimates & Forecast, by Construction, 2018 - 2030 (USD Million)
- Table 8 Tools Market Estimates & Forecast, by Other Application, 2018 - 2030 (USD Million)
- Table 9 North America Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 10 North America Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 11 U.S. Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 12 U.S. Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 13 Canada Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 14 Canada Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 15 Mexico Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 16 Mexico Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 17 Europe Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 18 Europe Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 19 Germany Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 20 Germany Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 21 France Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 22 France Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 23 Italy Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 24 Italy Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 25 Spain Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 26 Spain Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 27 UK Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 28 UK Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 29 Asia Pacific Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 30 Asia Pacific Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 31 China Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 32 China Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 33 India Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 34 India Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 35 Japan Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 36 Japan Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 37 Central & South America Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 38 Central & South America Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 39 Brazil Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 40 Brazil Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 41 Middle East & Africa Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 42 Middle East & Africa Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 43 Saudi Arabia Tools Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
- Table 44 Saudi Arabia Tools Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
- Table 45 Recent Developments & Impact Analysis, By Key Market Participants
- Table 46 List of Raw Material Suppliers
- Table 47 Company Heat Map Analysis, 2023
List of Figures
- Fig. 1 Tools Market Segmentation
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation And Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Outlook
- Fig. 7 Segmental Outlook
- Fig. 8 Competitive Outlook
- Fig. 9 Tools Market - Value Chain Analysis
- Fig. 10 Market Dynamics
- Fig. 11 Market Driver Impact Analysis
- Fig. 12 Market Restraint Impact Analysis
- Fig. 13 Industry Analysis: Porter's
- Fig. 14 PESTEL Analysis
- Fig. 15 Product: Key Takeaways
- Fig. 16 Tools Market: Product Movement Analysis, 2023 & 2030
- Fig. 17 Application: Key Takeaways
- Fig. 18 Tools Market: Application Movement Analysis, 2023 & 2030
- Fig. 19 Regional, 2023 & 2030 (USD Million)
- Fig. 20 Regional Marketplace: Key Takeaways
- Fig. 21 Tools Market: Regional Movement Analysis, 2023 & 2030
- Fig. 22 Kraljic Matrix
- Fig. 23 Engagement Model
- Fig. 24 Sourcing Best Practices
- Fig. 25 Vendor Selection Criteria
- Fig. 26 Competition Categorization
- Fig. 27 Company Market Position Analysis
- Fig. 28 Strategy Mapping, 2023
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