Global Hand Tools & Accessories Market to Reach US$34.5 billion by 2030 Owing to Rapid Urbanization and Technological Advancements

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A new report from Industry Experts Inc, on "Hand Tools & Accessories," is released. According to this global market research report, the market for Hand Tools & Accessories is estimated at US$26 billion in 2024 and is anticipated to post a CAGR of 5.8% during the 2024-2030 analysis period and stand at a projected US$34.5 billion by 2030.

The demand for Hand Tools & Accessories is expected to post steady growth over the analysis period, which can be attributed to several factors, including surge in infrastructural developments due to rapid industrialization & urbanization, technological advancements in shaping these instruments for durability and high proficiency, such as smart tools & ergonomic designs and growing need for repair & maintenance in automotive industry.

Wrenches are expected to hold the largest share in the global market for Hand Tool & Accessories. This tool is made of steel and other alloys, such as chromium-vanadium that helps in providing the grip and mechanical strength to turn bolts & nuts. Wrenches are indispensable in sectors, such as manufacturing, automotive, construction and engineering for assembling and disassembling structural machinery, components and equipment. They play a crucial role in repair and maintenance of all types of machinery along with installing pipelines, assembling scaffolding and erecting steel structures. DIY enthusiasts and mechanics also use this tool very often in chassis and engine components of vehicles.


The market for hand tools & accessories analyzed in this report on a global basis covering all major regions including North America (The United States, Canada and Mexico), Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), South America (Argentina, Brazil and Rest of South America) and Middle East & Africa.

The study analyzes the global market for hand tools & accessories analyzed with respect to Product Type – Chisels & Gauges, Hammers/Sledgehammers, Pliers/Pincers, Saws, Scissors, Screwdrivers, Spanners, Vises/Clamps, Wrenches and Other Hand Tools & Accessories (Incl. Axes, Crowbars, Grease Guns, Hand Files, Knives & Blades, Measurement Tapes, Pry Bars, Staple Guns, Taps & Dies, Voltage Testers and Wrecking Bars); Distribution Channel – Offline and Online; and End-Use Sector – Do-it-Yourself (DIY), Industrial and Professional.

About Industry Experts, Inc
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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