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Hand Tools Market in the UK to Record USD 163.73 Mn Growth | Over 6% CAGR Projection Through 2025 | 17,000+ Technavio Reports

·4 min read

NEW YORK, Nov. 3, 2021 /PRNewswire/ -- The hand tools market in the UK is set to grow by USD 163.73 million between 2020 and 2025, accelerating at a CAGR of over 6% during the forecast period. The market is segmented by end-user (industrial and household) and application (general-purpose, metal cutting, and others). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.

Attractive Opportunities in Hand Tools Market in UK by End-user and Application - Forecast and Analysis 2021-2025
Attractive Opportunities in Hand Tools Market in UK by End-user and Application - Forecast and Analysis 2021-2025

Purchase our full report on the hand tools market for a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.

Read our Free Sample Report before purchasing.

Key takeaways from hand tools market study

  • Hand tools market size in the UK to increase by USD 163.73 million at over 6% CAGR between 2020 and 2025

  • 5.80% year-over-year growth expected in 2021

  • Industrial segment accounted for maximum growth in the market in 2020

  • Dominant vendors include Channellock Inc., Draper Tools Ltd., Kennametal Inc., and others

Hand Tools Market in UK: Growth Drivers and Restraints

The hand tools market is driven by the growing popularity of DIY activities. The number of individuals involved in DIY home improvement activities such as carpentering, plumbing, and electrical applications is increasing in the UK. This can be attributed to the high labor costs associated with these services. Besides, the promotion of DIY activities by bloggers and vloggers and privacy concerns have increased the adoption of DIY hand tools among individuals. This trend is expected to fuel the growth of the market during the forecast period.

"Although the growing construction market and rise in industrial production in the UK will further boost the market growth, fluctuating raw material prices might reduce the growth opportunities for market players", says an analyst at Technavio.

The hand tools market report answers questions such as:

  • Is the market structure fragmented or concentrated?

  • What was the market size in 2020 and the forecast of the hand tools market through 2025?

  • Which are the best segment areas to invest in over the forecast period?

  • What is the market share of dominant and strong vendors in the hand tools market?

  • What are the latest trends and regulatory frameworks in the hand tools market?

Get all your questions answered in our full report.

Gain confidence by Downloading Our Free Sample Report

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Hand Tools Market In UK Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of over 6%

Market growth 2021-2025

USD 163.73 million

Market structure

Fragmented

YoY growth (%)

5.80

Regional analysis

Albania

Performing market contribution

UK at 100%

Key consumer countries

UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Market Scope Table:

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing… View our hand tools market snapshot to unlock TOC

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)
Technavio (PRNewsfoto/Technavio)
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SOURCE Technavio

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