The global household and DIY hand tools market increased by approximately USD 22.36 billion in 2021 and is expected to increase by approximately USD 32.67 billion by 2028, with a compound annual growth rate (CAGR) of nearly 4.5 percent over the forecast period.
Household and DIY Hand Tools Market: Overview
A hand tool is any tool that is powered by hand rather than a motor. Pliers, wrenches, cutters, screwdrivers, striking tools, hammering tools, vises, saws, clamps, knives, drills, and other hand tools are examples of DIY and household tools. Garden forks, rakes, and pruning shakes are examples of outdoor tools. The importance of these instruments is growing as urbanisation and development projects expand.
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Household and DIY Hand Tools Market: Growth Drivers
Global demand for infrastructure development and rapid urbanisation is increasing all the time. Governments from all major countries have been seen investing in infrastructure development and making necessary industry investments to support such improvements. Roads, railroads, airports, utilities, energy, and commercial and residential structures are examples of infrastructure development projects. Nations such as the United States, China, India, and Japan are heavily investing in construction projects, which are having an impact on infrastructure development and are expected to grow rapidly in the coming years. The demand for hand tools is increasing as the construction industry’s demands change, and hand tool manufacturers may be seen focusing on improving their products to meet the demand.
Household and DIY Hand Tools Market: Segmentation
The global household and DIY hand tools market is categorized into type, application, and region. Based on the types, the market is bifurcated into metal cutting tools, taps and dies, layout & measuring tools, and general-purpose tools. The application segment of the market is segregated as household appliances, IT & telecommunications, entertainment & consumer electronics, and others.
Recent Developments
Klein Tools, Inc. released the Slain Lineman Memorial Knife in March 2021, a limited-edition knife honoring the lives of fallen utility line workers.
Klein Tools, Inc. released the Klein-Kurve Wire Stripper/Cutter in February 2021, a durable stamped wire remover with six strip holes and shear blades for cutting, as well as a pleasant grip and enhanced lock.
Klein Tools, Inc. has launched two new extensible screwdrivers that may be used as both multi-bit screwdrivers and impact driver attachments, with onboard bit storage and precise control.
Household and DIY Hand Tools Market: Competitive Landscape
Major players operating in the global household and DIY hand tools market include Snap-On Incorporated., Akar Tools Limited, Stanley Black and Decker, Wera Tools, Techtronic Industries Co. Ltd., Apex Tool Group, JCBL India, Klein Tools Inc., Emerson Electric Co, and Channellock, Inc.
Global household and DIY hand tools market is segmented as follows:
By Type
General Purpose Tools
Metal Cutting Tools
Layout and Measuring Tools
Taps and Dies
By Application
Household Appliances
Entertainment and Consumer Electronics
IT & Telecommunications
Others
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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