Description
In 2018, the market for home hand tools was estimated to be worth USD 4.1 billion. The do-it-yourself (DIY) trend and changing consumer tastes are blamed for the market expansion. With this strategy, users are receiving simple hand tools to assist with domestic repairs and recovery.
Consumer desire for household tools and equipment for repair and modification is being driven by the growing influence of social media and expert repair tutorials. An increase in the desire for furniture that is convenient and has characteristics that make it simple to assemble and disassemble is also contributing significantly to the growth of the global market.
In emerging nations like China and India, where traditional equipment was formerly employed, hand tools are now more frequently used. Due to the increasing expense of repairs and modifications as well as the influence of western culture’s propensity for doing repairs at home, customer preferences have changed. The usage of hand tools in the household sector has also increased due to the lack of skilled workers in emerging nations.
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Product Information
With a market share of more than 30% in 2018, general hand tools such screwdrivers, chisels, pliers, drillers, various gardening tools, and others dominated the world. With more people owning their own homes, especially among millennials, demand for these hand tools has been rising.
Over the projected period, general hand tools are anticipated to increase at the quickest rate. Single women are anticipated to drive the market for the category with an intent to cater to minor maintenance and repairs in their own residences. In addition, it is anticipated that rising interest in domestic gardening as a hobby would fuel product demand.
Regional Perspectives
In 2018, North America held a 34.0% share of the global market, dominating it. The United States dominates the market for home hand tools, accounting for 61.5% of global sales in 2018. The primary driving forces behind this trend include issues like high labour costs, consumer preference for independent or self-services, and rising home ownership among nuclear families and millennials.
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Product Outlook
- Cutting Tools
- Measuring Tools
- Taps & Dies
- General Tools
Distribution Channel Outlook
- Retail Channels
- Online
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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Ram R