North America Hand Tool Market (2020-2026) | COVID-19 IMPACT, Value, Size, Share, Revenue, Growth, Industry, Outlook, Trends, Analysis, Companies & Forecast

North America Hand tool market demand would continue to accelerate on account of factors such as the increasing popularity of DIY Culture and infrastructural developments to meet the needs of a growing population that has propelled the growth of North America’s hand tool market. Factors such as high labour cost, consumer preference for independent or self-services, and increasing household ownerships among nuclear families and millennial would speed up the demand for Hand tools during the prognosis period. Additionally, low-profit margin due to stern competition and lack of skilled professionals are some of the key challenges that restrain the growth of the North America hand tool market. Moreover, the growth in popularity of power tools and their versatile End User might also hinder the growth of this market. Further, the outbreak of coronavirus pandemic has affected the sales of Hand tool products worldwide.

According to 6Wresearch, the North America Hand tool Market size is projected to witness substantial growth during 2020-26. Currently, the USA is accounted for the highest revenue share in the overall Hand tool market and is expected to maintain its dominance during the forecast period as well. Additionally, countries such as the USA and Canada are expected to be a rewarding market for the hand tool market primarily due to growth in the aerospace industry, rising population and increase in infrastructure investments. Further, countries such as the USA are among the top contributors in the market revenues owing to the rapid advanced industrial growth.

The Automotive sector witnessed the maximum deployment of hand tools during 2019, followed by the Professional and Industrial sectors. This could be attributed to the fact that the Hand tool does not require motor power to work, they are lightweight and portable. Further, people prefer hand tools owing to the advancements in the technology of hand tools providing multipurpose and ease in their usage are also key factor for the growth of the market. Moreover, the usage of Hand tool across the automotive maintenance and aerospace industry is becoming a popular trend in some countries such as Canada and the USA.

Some of the key players operating in the North America hand tool market are Rochester Hills, MI, SSP Fittings Corp, Lowell Corp, Lexco Cable manufactures, Allstates Rubber & Tool Corp., Bojo Tools ABC Hammers Inc., SharkBite Daniels Industrial Corp., CS Unitec, Inc.

The North America hand tools market report thoroughly covers the market by type, end-user, distribution channels, and countries including the United States, Canada and the rest of North America. The Hand tool market outlook report provides an impartial and comprehensive study of the on-going market trends, developmental areas and market drivers which would help the investors to manoeuvre and support their market strategies according to the current and future market crescendos.

Key Highlights

• North America Hand Tool Market Outlook
• North America Hand Tool Market Overview
• North America Hand Tool Market Forecast
• Historical Data for the period 2016-2019 and Market Forecast of North America Hand Tool Market Revenues until 2026
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Types
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Distribution Channel
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By End User
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Countries
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for United States Hand Tool Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for UAE Hand Tool Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Canada Hand Tool Market
• Market Drivers and Restraints
• North America Hand Tool Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• North America Hand Tool Market Share, By Players
• Competitive Benchmarking

Markets Covered

The report provides a detailed analysis of the following market segments:

• By Type:
• Wrench
• Plier
• Screw Driver
• Hammer
• Cable Cutter
• Others
• By End User:
• DIY
• Professional
• Industrial
• By Distribution Channel:
• Online
• Offline
• By Countries:
• United States
• Canada

Frequently Asked Questions About the Market Study (FAQs):