An Incisive, In-depth Analysis on the Us Hitter Based Hand Tools Market
This study offers a comprehensive, 360 degree analysis on the Us Hitter Based Hand Tools market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Us Hitter Based Hand Tools market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Hand tools are tools that are not driven by any pneumatic or electric motor and require manual effort to work. Some examples of hand tools are rakes, screwdrivers, pliers, spanners, wrenches, mallets, crowbars, garden tools, hammers and axes, etc. Hand tools are used in industrial as well as household and DIY projects and various other fields. These tools are sold to consumers via various sales channels, such as online sales, retail sales and distributor sales. Hitter-based hand tools include only the hitting pneumaticand striking hand tools, such as hammers, axes, mallets, shovels and crowbars. The U.S. hitter based hand tools markets market is expected to register a CAGR of 3.3% over the forecast period (2018 – 2028), in terms of value. The hitter based hand tools markets market is expected to be valued at US$ 497.7 Mn in 2018 and is expected to grow at a CAGR of 3.3% and reach US$ 687.1 Mn by the end of 2028.
Factors Affecting the U.S. Hitter Based Hand Tools Market Growth
People in the U.S. consider home improvement and small maintenance activities a favourable pastime. To leverage on the benefit of changing consumer preference towards DIY ethics, manufacturers are focusing on providing compact, portable and cost-efficient Hitter-based tool solutions to household users. Furthermore, this trend is now significantly shifting to developing markets as well.
The growing trend of DIY activities has also led to increasing sales of Hitter-based tools through online channels. Tools, such as hammers and shovels, are generally purchased through online portals owing to growing popularity of gardening and other activities among the people of the U.S.
Among city planners and real estate agents, the demand for landscaping in commercial as well as residential areas has increased. Around 60% of the people tend to pay more for an apartment or residential space with more gardening area. Landscaping adds to the resale value of a building and speeds up its sale. These factors will aid the growth of the Hitter-based hand tools market.
However, increasing automation in various industries is anticipated to have an indirect negative impact on hand tool sales during the forecast period. Increased automation reduces labor costs, mitigates the effects of labor shortage, reduces manufacturing lead time and improves product quality. Increased adoption of industrial automation can mainly be attributed to the gradual rise in labor wages. As manufacturers focus on cost-cutting measures to attain a competitive edge in the marketplace, reduced labor workforce will hamper the adoption of Hitter-based hand tools. Moreover there is growing competiton fom affordable power tools.
The U.S. Hitter Based Hand Tools Market: Segmentation and Forecast
The U.S. hitter based hand tools markets market can be segmented on the basis of product type, sales channel, end use sector and region. On the basis of product type, the hitter based hand tools markets market can be segmented into hammers, mallets, axes, shovels and crowbars. On the basis of sales channel, the U.S. hitter based hand tools markets market can be segmented into bulk distributer sales, retail sales and online sales. On the basis of end use sector, the U.S. hitter based hand tools markets market can be segmented into Household & DIY, Construction, Woodworking & Framing, Manufacturing & Fitting, Mining, Forestry & Agriculture and Rescue Management. Key regions covered in the report include Northeast, Midwest, South and West.
The U.S. Hitter Based Hand Tools Market Analysis by Region
From a regional perspective, the hitter based hand tools markets of the U.S. is anticipated to be dominated by West and South regions of the U.S., in terms of volume and value. This can mainly be attributed to the dominance of DIY applications in these regions. The regions, therefore, are expected to grow with impressive CAGRs between 2018 & 2028 in the Hitter-based hand tools market. Moreover, the U.S. hitter based hand tools market is expected to emerge as the most lucrative market in the world during the forecast period. Additionally, rapid industrialization and growing construction activities across the regions of the U.S., mainly West and South, are expected to create healthy demand in the hitter based hand tools market in the U.S.
Key Players Dominating The U.S. Hitter Based Hand Tools Markets Market
Some of the players reported in this study of the U.S. hitter based hand tools markets market include Stanley Black & Decker, Inc., Snap-on Incorporated, Apex Tool Group LLC, Q.E.P. Co., Inc., Estwing Manufacturing Company Incorporated, Vaughan & Bushnell Manufacturing, The AMES Companies, Inc., Techtronic Industries Co. Ltd., ABC Hammers, Inc., Hardcore Hammers etc.
Future Market Insights (FMI) analyses the global Hitter based hand tools market in its new publication titled “Hitter based Hand Tools Market: U.S. Industry Analysis (2013 – 2017) & Opportunity Assessment (2018 – 2028)”. This study provides data for 2017 along with the forecast for the Hitter based hand tools market for the period (2018–2028). The main objective of the report is to identify the dynamics of the market and provide recent updates and insights pertaining to various segments of the U.S. Hitter based hand tools market. To provide a better understanding of the market, the report also includes analysis of drivers, restraints and trends that are influencing the current Hitter based hand tools market scenario and are expected to impact the U.S. hitter based hand tools market over the forecast period. The study provides data for 2017 along with a comprehensive market forecast for the period 2018–2028.
End Use sector
To understand and assess market opportunities and trends, the U.S. hitter based hand tools market report is categorically split into different sections based on product type, sales channel, end use sector and regions. The report starts with the U.S. macro-economic environment that covers the factors that influence market growth. Next, the report gives a market overview and provides market definitions & taxonomy, along with drivers, restraints & trends being seen in the market. The sections that follow include the U.S. hitter based hand tools market analysis –by product type, sales channel, end use sector and regional/country-level analysis. All the above sections evaluate the market on the basis of various factors that affect it. Each section discusses the qualitative and quantitative aspects of the U.S. hitter based hand tools market. To provide a brief idea about the revenue opportunities from the product type, sales channel, end use sector and regions/country-wise segments, the report also provides market value (US$ Mn) data, absolute $ opportunity and total incremental opportunity for each segment over the forecast period (2018-2028).
In the subsequent section, market analysis on a regional basis has been provided and a detailed analysis of macro-economic factors at the regional level has been covered. Furthermore, the growth of various factors is mapped against the growth of the market.
In the final section of the report, we have provided a detailed competitive landscape with market share and performance of companies to provide a dashboard view of key players operating in the U.S. hitter based hand tools market, along with their business strategies. This will enable clients to assess strategies deployed by market leaders and help them develop effective business strategies accordingly.
For market data analysis, we have considered 2017 as the base year, market numbers are estimated for 2018 and forecast is made for 2018–2028. The report considers the market size of the hitter based hand tools market at a U.S. level and splits & evaluates the market at a regional level. The estimation made is then further triangulated. The forecast assesses the total revenue (US$ Mn) of the U.S. hitter based hand tools market. In order to provide an accurate forecast, we began by sizing up the historical market size, i.e. 2013–2016, after which we evaluated the current market, which forms the basis of how the U.S. hitter based hand tools market is expected to develop in the future. The critical market data, including the base number & segment splits, has been devised through in-depth secondary research. This data was then triangulated on the basis of different verticals, considering the supply side as well as the demand side drivers and other dynamics of the various regional markets, along with primary interviews of hitter based hand tools manufacturers, distributors & suppliers and industry experts operating in the U.S. hitter based hand tools market. The forecast presented in the report evaluates the actual market size (US$ Mn) in 2017 with regards to hitter based hand tools and the expected market value of the U.S. hitter based hand tools market over the forecast period.
We have also analysed the different segments of the U.S. hitter based hand tools market in terms of Basis Point Share (BPS) to understand the relative contribution of individual segments to market growth. This detailed information is important for identifying the various key trends governing the U.S. Hitter based hand tools market. The report also analyses the U.S. hitter based hand tools market on the basis of absolute dollar opportunity. This is usually overlooked while estimating the market forecast. However, from a business development perspective, it is essential to identify absolute dollar opportunity to identify potential resources in the hitter based hand tools market. Moreover, FMI has developed a market attractiveness index to understand the key segments in terms of their performance and growth in the U.S. hitter based hand tools market. This market attractiveness index is expected to help clients identify real market opportunities in the U.S. hitter based hand tools market.