According to Market Research Future (MRFR)’s new report, the global mechanical hand tools market is anticipated to mark a CAGR of 3.67% during the forecast period 2017 to 2023. The market is poised to enter a phase of maturity and exhibit steady but constant growth. MRFR’s revenue analysis of the global market highlights that the valuation of the market is set to reach USD 20,516.3 Mn by 2023-end from USD 16,044.1 Mn in 2016.
Some of the key players profiled in the report are –
Robert Bosch Tool Corporation (U.S), Snap-on (U.S.), TOYA SA (Poland), Metabowerke GmbH (Germany), Stanley Black & Decker, Inc (U.S.), Hilti Corporation (Liechtenstein), Techtronic Industries Co. Ltd (TTI) (Hong Kong), Wurth Group (Germany), Klein Tools (U.S.), and Makita Corporation (U.S.).
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Construction sector has been gaining momentum across the world which has led to a moderate increase in demand for mechanical hand tools. It is highly likely to perpetuate a similar trend in the forthcoming years. Furthermore, industrial sector being the backbone of economy is expected to scale new heights through the review period. This, in turn, is prognosticated to expedite the growth of the mechanical hand tools market.
The developments in the standard of living are also forecasted to favor the proliferation of the mechanical hand tools. Rising renovation activities and investments in wooden furniture are poised to generate demand for hand tools globally throughout the projection period, thus, augmenting the market.
Industry News:
In May 2018, Hitachi Power Tools, manufacturer of durable hand tools, has announced the addition of two new heavy-duty 185mm circular saws to its power tool line.
In October 2018, APEX® Tools, market leader in fastening tools, has brought a new line of Industrial Fastening Tools that offers longer life and increased durability.
Target Audience
- Organizations
- Manufacturer
- Research Institute / Education Institute
- Potential Investors
Market Segmentation:
By type, the Mechanical Hand Tools Market has been segmented into hand service tools, edge tools, hand saw and others.
By application, the mechanical hand tools market has been segmented into construction industry, decoration industry, and household application.
Regional Insights:
The global mechanical hand tools market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America has held a major share of the market in 2016 and accounted for 35.3% of the total share. It is prognosticated to retain its prominence over the next couple of years. The region is likely to witness moderate growth in the foreseeable future owing to an increase in demand from the construction sector. Thriving industrial sector is another major factor responsible for catalyzing the expansion of mechanical hand tools market in the region. The U.S. is an important country-level market of North America, and is projected to contribute significantly towards the revenue creation of the players of the mechanical hand tools market.
Asia Pacific is likely to witness impressive growth in the upcoming years. It has been estimated to mark a CAGR of 4% over the assessment period. Rapid industrialization and urbanization are expected to fuel demand for mechanical hand tools in the region. Additionally, the rising count of infrastructural projects and manufacturing units are likely to boost the growth of the mechanical hand tools market.
Europe is the third-largest regional market for mechanical hand tools in terms of market valuation. The burgeoning industrial sector of the region is projected to have a positive influence on the proliferation of the mechanical hand tools market. Meanwhile, the Rest of the World accounts for the least share of the global market. The region is expected to exhibit sluggish growth owing to the demand from construction industry of the Middle Eastern country-level markets.
Scope of Report
The report for Global Mechanical Hand Tools Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Browse Complete Report “Global Mechanical Hand Tools Market, By Type (Hand Service Tools, Edge Tools, Hand Saw, and Others), By Application (Construction Industry, Decoration Industry and Household Application) and Region – Forecast 2017-2023″@ https://www.marketresearchfuture.com/reports/mechanical-hand-tools-market-3602
Table of Contents
1 Executive Summary
2 Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Assumptions
2.4 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4 Market Dynamics
4.1 Introduction
4.2 Impact Analysis
4.3 Market Drivers
4.3.1 Growth in Construction Industry
4.3.2 Growth in the Furniture Market
4.3.3 Increase Use of Capital Goods in Households
4.4 Restraints
4.4.1 Power Tools Replacing Traditional Hand Tools
4.4.2 Fluctuation in Raw Material Prices
4.5 Opportunities
4.5.1 Broader Scope in Developing Nation
5 Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Threat of New Entrants
5.1.2 Bargaining Power of Suppliers
5.1.3 Bargaining Power of Buyers
5.1.4 Threat of Substitutes
5.1.5 Rivalry
5.2 Supply Chain Analysis
Continued……..
List of Tables
Table 1 Global Mechanical Hand Tools Market, by Type , 2015 to 2023 (Usd Million)
Table 2 Global Mechanical Hand Tools Market, by Application, 2015 to 2023 (Usd Million)
Table 3 Global Mechanical Hand Tools Market, by Region, 2015-2023 (Usd Million)
Table 4 North America: Mechanical Hand Tools Market, by Country 2015-2023 (Usd Million)
Table 5 North America:mechanical Hand Tools Market, by Type 2015-2023 (Usd Million)
Table 6 North America:mechanical Hand Tools Market, by Application 2015-2023 (Usd Million)
Table 7 Us:mechanical Hand Tools Market, by Type 2015-2023 (Usd Million)
Table 8 Us:mechanical Hand Tools Market, by Application 2015-2023 (Usd Million)
Continued……..
List of Figures
Figure 1 Resrarch Process of Mrfr
Figure 2 Top Down & Bottom Down Approach
Figure 3 Forecast Model
Figure 4 Market Dynamics
Figure 5 Impact Analysis
Figure 6 Growth of Us Construction Industry From Fy2011 Till Fy2015 (Usd Billion)
Figure 7 Growth of U.s. Office Furniture Market (Usd Million)
Figure 8 Porter’s Five Forces Analysis
Figure 9 Supply Chain Analysis
Continued………
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