The global Household Hand Tools Market is estimated to reach USD 5.4 billion, by 2025, and is projected to grow at a CAGR of 4.0% from 2019 to 2025, according to a new report by Million Insights. The increase in the demand for hand tools in the household is attributed to the changing consumer behavior and preference towards (DIY) approach. Owing to the increasing labor costs especially in countries such as the U.S., U.K., and Canada are expected to increase the demand for the product in the next few years.
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Market Synopsis of Household Hand Tools Market:
The advancement in technology is expected to play a vital role in manufacturing handy equipment for household repairing. Due to this factor, the consumers are now adopting the self-help method to repair & modify at home.
The availability of various ranges of the multifunctional tools to cater consumer requirements is projected to foster the demand for hand tools. The manufacturers in the market are offering highly durable and string tools made by using steel, iron, black metal and wood.
Moreover, the manufacturers focus on producing multi-functional tools in compact sizes to meet consumer needs. For example, in 2019, Bosch introduced Bosch GSB 500 RE kit for repair and modifying household applications. These new product innovations are expected to boost the demand for handy tools.
General hand tools are projected to grow at the fastest CAGR of 4.2% from 2019 to 2025. These tools are mainly used for minor repair and maintenance applications at home which are driving the demand for the product. The rising popularity of the home gardening is also anticipated to propel the product demand in the coming few years.
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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Household Hand Tools: Market Variables, Trends & Scope
Chapter 4 Household Hand Tools: Product Estimates & Trend Analysis
Chapter 5 Household Hand Tools: Application Estimates & Trend Analysis
Chapter 6 Household Hand Tools: End-use Estimates & Trend Analysis
Chapter 7 Household Hand Tools: Industrial End-use Estimates & Trend Analysis
Chapter 8 Household Hand Tools: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Household Hand Tools: Manufacturers Company Profiles
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