The U.S. hitter-based hand tools market in the United States is expected to grow by 3.3 percent year on year in 2022, reaching a value of approximately US$ 562.1 Mn. Hitter-based hand tools includes hitting and striking hand tools, such as hammers, axes, mallets, shovels and crowbars.
It is anticipated that there will be an increase in demand for hand tools, particularly those made for DIY and domestic purposes. The popularity of DIY projects is rising in part due to rising disposable income and rising consumer interest in leisure and recreational activities.
As a result, there are now excellent opportunities for hand tool sales, inspiring manufacturers to introduce innovative products into the DIY market. Between 2022 and 2028, the U.S. market is projected to experience a CAGR of 3.4%. Because of the rising demand from numerous industries, the U.S. will continue to be a significant market for hitter-based hand tools over the forecast period, according to FMI.
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I believe you are referring to the market for handheld striking tools in the United States. Here are some key takeaways:
- Increasing demand: The market for hitter-based hand tools in the U.S. is expected to grow due to the increasing demand for durable, high-quality tools in the construction and DIY markets.
- Technological advancements: Advancements in technology, such as improved manufacturing processes and materials, have led to the development of more efficient and durable hand tools.
- Key players: The U.S. hitter-based hand tools market is highly competitive, with key players such as Stanley Black & Decker, Snap-On, Klein Tools, and Channellock leading the industry.
- Market segmentation: The U.S. hitter-based hand tools market is segmented based on type, application, and end-user. The types include hammers, axes, mallets, and sledges, while the applications include woodworking, metalworking, and construction.
- Online retail: The rise of e-commerce has led to an increase in online sales of hitter-based hand tools, providing convenience and accessibility for customers.
- Government regulations: The U.S. government regulates the safety and quality standards for hitter-based hand tools through organizations such as the Occupational Safety and Health Administration (OSHA) and the American National Standards Institute (ANSI). Compliance with these regulations is important for manufacturers and end-users.
A highly Consolidated U.S Hitter-Based Hand Tools Market to Gain from Product Innovation
The market for hitter-based hand tools is highly consolidated and the key players are focusing on acquisitions and expansions to enhance their market share. Additionally, incessant competition between tool manufacturers is likely to restrict the growth of the hand tools market to some extent. Research also suggests that increased automation in the production process will displace the market for hitter-based tools. Future Market Insights predicts that the aforementioned factors may dampen U.S revenue growth of the hitter-based hand tools market in the coming years.
Key players in the U.S hitter-based hand tools market have been channelizing efforts towards strengthening their distribution channels while also focusing on online sales of hand tools by signing agreements with different online portals, as consumers are more likely to buy hitter-based hand tools through online channels, owing to the growing consumer preference towards eCommerce. Manufacturers are also focusing on new product innovation with greater efficiency and easy maintenance qualities. Top manufacturers of hitter-based hand tools in the U.S market are Stanley Black & Decker Inc, Apex Tool Group LLC, Snap-on Incorporated, Vaughan & Bushnell Manufacturing, and Estwing Manufacturing Company, Inc.
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Across U.S, Shovels are the Most Preferred Hitter-Based Hand Tool
Shovels are anticipated to register robust growth during the second half of the forecast period owing to growing demand for gardening and DIY applications, occupying close to 40% market share. Likewise, higher sales of hammers in the U.S can be attributed to the growing demand for hitter-based hand tools from end-use sectors such as construction, woodworking & framing, manufacturing & fitting, household & DIY and rescue management.
Hitter-Based Hand Tools Market Competitive Landscape
Over the past few years, an increment in the number of acquisitions and expansion activities has been witnessed to improve the supply of hitter-based hand tools. Several key players are focusing on improving the efficiency of touch hand tools for various applications. The emergence of various manufacturers had also been witnessed in U.S. businesses.
For Instance,
- In 2017, Snap-on Incorporated acquired Norbar Torque Tools Holdings Limited, based in Banbury, U.K., which has a full range of torque products in its portfolio
Stanley Black & Decker, Inc. acquired the tool business of Newell Tools which includes Irwin and Lenox brands for US$1.84 Bn.
U.S. Hitter-Based Hand Tools Market By Category
By Product Type:
- Hammers
- Mallets
- Axes
- Shovels
- Crowbars
By Sales Channel:
- Bulk Distributor Sales
- Retail Sales
- Online Sales
By End-Use Sector:
- Household & DIY
- Construction
- Woodworking & Framing
- Manufacturing & Fitting
- Mining
- Forestry & Agriculture
- Rescue Management
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