Global Household & DIY Hand Tools Market

Global Household & DIY Hand Tools Market to Expand with a CAGR of 4% due to Increasing
Inclination of Consumers towards the DIY Approach
Transparency Market Research (TMR) observes the global household & DIY hand tools
market has highly consolidated landscape. Apex Tools Group, Akar Tools Ltd., JK Files (India)
Limited, Channellock, Inc., Klein Tools, Kennametal Inc., Snap-On, Wera Tools, and Stanley Black
Decker are the key companies partaking in the expansion of global household & DIY hand tools
market. These manufacturers are expected to spearhead the global production of household &
DIY hand tools in the years to come. A majority of household & DIY hand tools manufacturers
are expected to focus on developing multipurpose tools.
According to a report by Transparency Market Research (TMR), the global household & DIY
hand tools market is assessed to witness a moderate expansion during the forecast period
2017-2026. While these manufacturers will continue to cater to the rising demands, the global
household & DIY hand tools market will witness a modest value growth at 4% CAGR during the
forecast period. The report also forecasts that by the end of 2026, more than US$ 9.1 Bn worth
of household & DIY hand tools will be sold across the globe.
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Technological Advancements to Fuel Adoption
Increasing inclination of consumers towards the DIY approach has driven the demand for tools
that can help them execute household repairs and works on their own. Available at cheap
prices, a wide range of household & DIY hand tools can facilitate several purposes of
undertaking common household fixtures and upkeeps. However, growing use of power tools is
observed as a key deterrent for the adoption of household & DIY hand tools market. Availability
of power tools at affordable prices continues to divert consumers from purchasing household &
DIY hand tools.
Government Initiatives for Improving Knowledge to Create Opportunities
Household & DIY hand tools will be predominantly sold through retail outlets. Live
demonstrations and usability tests conducted in retail outlets will factor their significant
contribution to the overall sales of household & DIY hand tools. Throughout the forecast
period, around two-fifth of household & DIY hand tool sales will be accounted by retail
channels. The report further gives insights on the online sales of household & DIY hand tools.
This information is comprised in the new report by TMR, titled “Household & DIY Hand Tools
Market (Product Type – General Purpose Tools, Metal Cutting Tools, Layout and Measuring
Tools, and Taps and Dies; Sales Channel – Online Sales, Retail Sales, and Distributor Sales) –
Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026.”

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