The hand tools market share in the UK is expected to grow by post an incremental growth of USD 163.73 million, accelerating at a CAGR of 6.09% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects. Unlock Free Sample Analysis Report
The hand tools market in the UK is segmented by End-user (Industrial and Household) and Application (General-purpose, Metal cutting, and Others). The introduction of ergonomically designed hand tools is the major hand tools market trend in the UK which will positively influence the market growth.
The hand tools market growth in the UK by industrial will be significant during the forecast period. The growth of the industrial sector is notably driving the demand for hand tools. The growth of the segment is attributed to the increased industrial output, which is driven by industry (including construction) value-added applications.
The research report provides market share projections of each segment along with a detailed analysis of all the factors that are likely to boost growth within specific regions as well as global markets.
The growing popularity of DIY activities is one of the primary factors that will drive the hand tools market growth in the UK. However, fluctuating raw material prices are the major hindrance for market vendors. The report provides a detailed study of all the other drivers and challenges that are likely to boost market growth.
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Channellock Inc., Draper Tools Ltd., Kennametal Inc., KNIPEX-Werk, Milwaukee Electric Tool Corp., Snap-on Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Thomas Flinn and Co., and Wera Werkzeuge GmbH are some of the major market participants.
The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. Download the Free PDF Sample Report