Household and DIY Hand Tools Market Trend, Share, Growth, Size, Analysis and Forecast 2030

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The hand tools offer convenience and flexibility to DIY for activities like drilling, screw driving, routing, chiseling, sanding, polishing, buffing, and leveling. For general purposes, the most commonly used power tools among DIY’ers include drilling machine, nail guns, wall chasers, circular saws jack-hammers, and others. The hand tools are simple and handy in nature. Basically, it involves in manual labor. In a regular day to day basis, the hand tools and the household tools play a crucial role in solving day to day machine activities. 

Household and DIY hand tools market is experiencing the highest growth rate for its usage in different applications in developed as well as developing countries. Such factors are contributing to the household and DIY hand tools market growth over the forecast period. The growing fondness of consumers towards the DIY approach which helps them to execute simple household repairs is driving the growth of the market. Also, the tools are cost effective in nature and come at a diverse range. The diverse range of the product helps in fulfilling the demand of the customers as they are used for several purposes like general house fixtures and others. Moreover, this growing usage of power tools can be a key restraint for the acceptance of the market. In recent years, there has been an increasing number of manufacturing plants and industries in developing countries. In those manufacturing plants, hand tools are extensively used for maintenance and other purposes. In addition, the rising demand for hand tool kits amongst the industrial professionals is fueling the growth of the market. Rapid industrialization across the globe is expected to create a positive impact on market growth and development. Furthermore, the increasing demand for hand tools in the automobile sector for maintenance is further anticipated to drive the growth of the market. Such factors are expected to boost the global household and DIY hand tools market. 

Based on product type, the household and DIY hand tools market is segmented into metal cutting tools, general purpose tools, taps and dies, and layout and measuring tools. On the basis of the sales channel, the market is segmented into retail sales, online sales, and distributor sales. 

Asia Pacific region is predicted to grow at the highest CAGR in the global household and DIY hand tools market in 2017. The region is likely to continue with its dominance over the forecast timeframe. The regional market growth is expected due to growing demand for hand tools in the industrial sector across the region. Moreover, the region is a manufacturing hub. The increase in industrial and automation activities is anticipated to further propel industry growth in the region over the forecast timeframe. North America is expected to have substantial revenue share for household and DIY hand tools market. The regional growth is forecasted by the ongoing government initiatives across the region. Government initiatives such as usability tests and live demonstrations conducted in every retail outlet for their proper usage is going to have a positive impact on the regional market.  These factors are predicted to boost the household and DIY hand tools market growth across the globe over the forecast time period.  

Some of the industry players involved in the household and DIY hand tools market include Wera Tools, Apex Tool Group, Akar Tools, Snap-on, Channellock, Klein Tools, Kennametal Inc., Stanley Black & Decker, Techtronic Industries, and others.