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U.S. Hitter Based Hand Tools Market

Market Insights on U.S. Hitter Based Hand Tools covering sales outlook, demand forecast & up-to-date key trends

U.S. Hitter-Based Hand Tools Market By Product Type (Hammers, Mallets, Axes, Shovels, Crowbars), Sales Channel (Bulk Distributor Sales, Retail Sales, Online Sales), End-Use Sector (Household & DIY, Construction, Woodworking & Framing, Manufacturing & Fitting, Mining, Forestry & Agriculture, Rescue Management) & Region for 2022 - 2028 | U.S. Sales Analysis and Opportunity - 2028 | FMI

U.S. Hitter-Based Hand Tools Market Outlook 2022-2028

[118 Pages] The U.S. hitter-based hand tools market is expected to register year-on-year growth of 3.3% in 2022 reaching a value of about US$ 562.1 Mn.

U.S. Hitter-Based Hand Tools Market Analysis (2021A)

US$ 543.9 Mn

U.S. Hitter-Based Hand Tools Market Analysis Estimated Year Value (2022E)

US$ 562.1 Mn

U.S. Hitter-Based Hand Tools Market Analysis Projected Year Value (2028F)

US$ 687.1 Mn

Value CAGR (2022-2028)

3.4%

The demand for hand tools particularly meant for domestic and do-it-yourself (DIY) uses is predicted to rise. The growing consumer interest in leisure and recreational activities, as well as rising disposable income, are two key factors behind the growing popularity of DIY activities.

This has in turn created impressive opportunities for sales of hand tools, encouraging producers to launch new and creative goods into the DIY market. The U.S. market is anticipated to exhibit a CAGR of 3.4% between 2022 and 2028. According to FMI, the U.S. will remain a key market for hitter-based hand tools over the forecast period owing to the increasing demand from the diverse sectors.

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How The Market Progressed Till June 2022?

Market Statistics

Details

H1,2021 (A)

3.2%

H1,2022 Projected (P)

3.3%

H1,2022 Outlook (O)

3.4%

BPS Change : H1,2022 (O) - H1,2022 (P)

(+) 5 ↑

BPS Change : H1,2022 (O) - H1,2021 (A)

(+) 21 ↑

Future Market Insights forecast a comparison and review analysis for the dynamics of the Hitter-Based Hand Tools market along with recent market trends and dynamics impacting the growth outlook. The demand for hand tools has been primarily influenced by demographic, innovative, and macroeconomic factors like urbanization, growth in the manufacturing and mining industries, and others.

FMI analysis shows a rise of 5 units in the variations between the BPS values seen in the Hitter-Based Hand Tools Market in H1, 2022 - Outlook over H1, 2022 Projected. But in H1 -2022, the market is projected to expand by 21 BPS over H1 -2021.

The main causes of this change in growth rate are attributed to the sale of tools like hammers and shovels, which are frequently bought online due to an increase in gardening and other hobbies among Americans. The housing sector's increased investment is assisting in meeting America's growing demand for hand tools. The recovery of the construction sector is also anticipated to increase the demand for hand tools.

Despite these opportunities, the industry is still likely to face a number of difficulties, including the rising popularity of power tools. Additionally, for the foreseeable future, demand for hand tools with hitter-based construction will be reduced due to the growing preference for power tools over hand tools. The hand tool industry is being severely restrained by the ongoing competition between tool manufacturers.

2013-2021 U.S. Hitter-Based Hand Tools Market Outlook Compared to 2022-2028 Forecast

Demand from the household segment is increase owing to the rising number of do-it-yourself users. This is also leading to increased sales of hand tools through online portals. Tools such as shovels and hammers are highly purchased through online channels owing to their increasing use in gardening and various other household applications.

Besides this, rapid urbanization which has resulted in higher investment towards infrastructure development, covering such as transportation, energy, and related maintenance services has resulted in higher demand for hand tools.

U.S. Hitter Based Hand Tools Market Download Report Brochure

People are becoming self-sufficient and learning new skills and using these tools in a more effective manner. Against this backdrop, the sales of hand tools have been projected to consistently surge over the forecast period.  

The sales of hitter-based hand tools between 2022 and 2028 will grow at 3.4 % CAGR, up from 2.7% CAGR registered during 2013-2021.

What are the Factors Pushing Sales of Hitter-Based Hand Tools?

Over the course of the forecast period, sales of hitter-based hand tools will pick up pace on account of rising DIY activities, coupled with the expansion of the construction sector. Home remodelling and small maintenance activities are popular pastimes in the United States.

Due to an increase in gardening and other hobbies among Americans, tools such as hammers and shovels are commonly purchased through internet portals. The growing demand for hand tools in the United States is fuelled in part by increased investment in the housing sector. Furthermore, sales of hand tools in the United States increased as economic circumstances improved, especially housing investment.

What are the Potential Hurdles to the U.S. Hitter-Based Hand Tools Market Growth?

During the projected period, increasing automation in many industries is expected to have an indirect negative influence on hand tool sales. Increased automation lowers labor costs, reduces production lead times and enhances product quality.

The progressive rise in labour wages is largely to blame for the increased adoption of industrial automation. The use of hand tools is being hampered by a drop in the labour workforce as manufacturers focus on cost-cutting strategies to gain a competitive edge in the marketplace.

Furthermore, over the foreseeable period, the increased preference for power tools over hand tools will stifle demand for hitter-based hand tools. The hand tool market is being held back to a significant extent by constant competition amongst tool producers. These aspects shorten the growth of hitter-based hand tools.

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Principal Consultant
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What was the Impact of the COVID-19 Crisis on the Hitter-Based Hand Tools Market?

SARS-introduction COV-2's in 2020 has had a massive impact on the global economy. A reduction in demand in a number of end-use industries as well as supply chain issues had caused serious damages in the US market.

Furthermore, due to extensive lockdowns and movement restrictions, economic activity had come to a halt. Imports and strong export growth indicate that imported steel prices are falling, resulting in a decrease in the sales of hand tools.

The closure of end-use industries also affected the sales of hitter-based hand tools in the United States in 2020. The drop in sales has had a significant influence on the U.S. hitter-based hand tools market.

Hitter-Based Hand Tools Market Category-wise Insights

Which is the Top-selling Product in U.S. Hitter-Based Hand Tools Market?

Shovels comprise the leading segment in the market and will continue dominating demand during the assessment period owing to their widespread use in DIY and construction industries. Due to their expanding use in gardening and home applications, shovels and hammers are frequently purchased through internet channels. The shovels segment is projected to create an absolute dollar opportunity of more than US$ 60.2 Mn during the period of 2022 to 2028.

Who is the Leading End User in the U.S. Hitter-Based Hand Tools Market?

The construction segment is projected to create an absolute dollar opportunity of more than US$ 37.4 Mn during the period of 2022 to 2028. As per the study, the construction segment is estimated to dominate the U.S. market over the forecast period. High focus on expansion of infrastructure and consistent growth in the construction and building sector as the U.S. real estate gradually recovers will present conducive environment fort sales of hitter-based hand tools.

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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.

Scope of Report

Attribute

Details

Forecast Period

2022-2028

Historical Data Available for

2013-2021

Market Analysis

USD Million for Value and Units for Volume

Key Regions Covered

Northeast, Midwest, South, West

Key Countries Covered

U.S.

Key Segments Covered

By Product Type, By Sales Channel, By End Use Sector, By Region

Key Companies Profiled

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

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

By Region:

  • Northeast
  • Midwest
  • South
  • West

Frequently Asked Questions

The U.S. hitter-based hand tools market is expected to total US$ 562.1 Mn in 2022.

The demand for hitter-based hand tools will grow by 3.4 % in the U.S. in 2022.

Stanley Black & Decker, Inc., Q.E.P. Co., Inc., Apex Tool Group, LLC, Snap-on Incorporated, The Ames Companies, Inc., Techtronic Industries Co. Ltd., Estwing Manufacturing Company, Inc., Vaughan & Bushnell Manufacturing, ABC Hammers, Inc., Hardcore Hammers are the leading market players. They collectively account for 30% to 35% of the U.S. market share.

Manufacturers are working on supplying compact, portable, and cost-effective tool solutions to household users to take advantage of evolving consumer preferences toward DIY ethics. This trend is encouraging companies to focus on adding wood and fiberglass handled tools to their portfolio to complement prevailing demand.

Table of Content

1. Executive Summary

    1.1. Market Overview

    1.2. Market Analysis

    1.3. FMI Analysis and Recommendations

    1.4. Wheel of Fortune

2. Market Introduction

    2.1. Market Taxonomy

    2.2. Market Definition

3. Market Background

    3.1. Macro-Economic Factors

    3.2. Forecast Factors – Relevance & Impact

    3.3. PESTLE Analysis

    3.4. Porter’s Five Forces Analysis

    3.5. Market Dynamics

        3.5.1. Drivers

        3.5.2. Restraints

        3.5.3. Trends

    3.6. Value Chain Analysis

    3.7. Cost Structure Analysis

4. U.S. Hitter-Based Hand Tools Market Analysis 2013–2021  and Forecast 2022–2028 

    4.1. Market Volume Projections

    4.2. Pricing Analysis

    4.3. Market Size Projections

        4.3.1. Y-o-Y Projections

        4.3.2. Absolute $ Opportunity Analysis

5.  U.S. Hitter-Based Hand Tools Market Analysis 2013–2021 and Forecast 2022–2028, by Product Type

    5.1. Introduction 

        5.1.1.  Market Value Share Analysis By Product Type

        5.1.2. Y-o-Y Growth Analysis By Product Type

    5.2. Historical Market Size (US$ Mn) and Volume (‘000 Units) Trend Analysis By Product Type, 2013–2021 

    5.3. Current Market Size (US$ Mn) and Volume (‘000 Units) Forecast By Product Type, 2022–2028

        5.3.1. Hammers

        5.3.2. Mallets

        5.3.3. Axes

        5.3.4. Shovels

        5.3.5. Crowbars

    5.4. Market Attractiveness Analysis by Product Type

6.  U.S. Hitter-Based Hand Tools Market Analysis 2013–2021 and Forecast 2022–2028, by Sales Channel

    6.1. Introduction 

        6.1.1.  Market Value Share Analysis by Sales Channel

        6.1.2. Y-o-Y Growth Analysis By Sales Channel

    6.2. Historical Market Size (US$ Mn) and Volume (‘000 Units) Trend Analysis By Sales Channel, 2013–2021 

    6.3. Current Market Size (US$ Mn) and Volume (‘000 Units) Forecast By Sales Channel, 2022–2028

        6.3.1. Bulk Distributor Sales

        6.3.2. Retail Sales

        6.3.3. Online Sales

    6.4. Market Attractiveness Analysis by Sales Channel

7.  U.S. Hitter-Based Hand Tools Market Analysis 2013–2021 and Forecast 2022–2028, By End User Sector

    7.1. Introduction 

        7.1.1.  Market Value Share Analysis By End User Sector

        7.1.2. Y-o-Y Growth Analysis By End User Sector

    7.2. Historical Market Size (US$ Mn) and Volume (‘000 Units) Trend Analysis By End User Sector, 2013–2021 

    7.3. Current Market Size (US$ Mn) and Volume (‘000 Units) Forecast By End User Sector, 2022–2028

        7.3.1. Household & DIY

        7.3.2. Construction

        7.3.3. Woodworking & Framing

        7.3.4. Manufacturing & Fitting

        7.3.5. Mining

        7.3.6. Forestry & Agriculture

        7.3.7. Rescue Management

    7.4. Market Attractiveness Analysis by End User Sector

8.  U.S. Hitter-Based Hand Tools Market Analysis 2013–2021 and Forecast 2022–2028 By Region

    8.1. Introduction 

        8.1.1.  Market Value Share Analysis By Region

        8.1.2. Y-o-Y Growth Analysis By Region

    8.2. Historical Market Size (US$ Mn) and Volume (‘000 Units) Trend Analysis By Region, 2013–2021 

    8.3. Current Market Size (US$ Mn) and Volume (‘000 Units) Forecast By Region, 2022–2028

        8.3.1. Northeast

        8.3.2. Midwest

        8.3.3. South

        8.3.4. West

    8.4. Market Attractiveness Analysis by Region

9. Competition Analysis

    9.1. Competition Dashboard

    9.2. Product Intensity Matrix

    9.3. Competition Deep dive

        9.3.1.  Stanley Black & Decker, Inc.

            9.3.1.1. Overview

            9.3.1.2. Product Portfolio

            9.3.1.3. Profitability by Market Segments (Product/Channel/Region)

            9.3.1.4. Production Footprint

            9.3.1.5. Sales Footprint

            9.3.1.6. Channel Footprint

            9.3.1.7. Gross Margin Benchmarking

            9.3.1.8. Strategy Overview

            9.3.1.9. Marketing Strategy

            9.3.1.10. Product Strategy

            9.3.1.11. Channel Strategy

        9.3.2. Q.E.P. Co., Inc.

            9.3.2.1. Overview

            9.3.2.2. Product Portfolio

            9.3.2.3. Profitability by Market Segments (Product/Channel/Region)

            9.3.2.4. Production Footprint

            9.3.2.5. Sales Footprint

            9.3.2.6. Channel Footprint

            9.3.2.7. Gross Margin Benchmarking

            9.3.2.8. Strategy Overview

            9.3.2.9. Marketing Strategy

            9.3.2.10. Product Strategy

            9.3.2.11. Channel Strategy

        9.3.3. Apex Tool Group, LLC

            9.3.3.1. Overview

            9.3.3.2. Product Portfolio

            9.3.3.3. Profitability by Market Segments (Product/Channel/Region)

            9.3.3.4. Production Footprint

            9.3.3.5. Sales Footprint

            9.3.3.6. Channel Footprint

            9.3.3.7. Gross Margin Benchmarking

            9.3.3.8. Strategy Overview

            9.3.3.9. Marketing Strategy

            9.3.3.10. Product Strategy

            9.3.3.11. Channel Strategy

        9.3.4. Snap-on Incorporated

            9.3.4.1. Overview

            9.3.4.2. Product Portfolio

            9.3.4.3. Profitability by Market Segments (Product/Channel/Region)

            9.3.4.4. Production Footprint

            9.3.4.5. Sales Footprint

            9.3.4.6. Channel Footprint

            9.3.4.7. Gross Margin Benchmarking

            9.3.4.8. Strategy Overview

            9.3.4.9. Marketing Strategy

            9.3.4.10. Product Strategy

            9.3.4.11. Channel Strategy

        9.3.5. The Ames Companies, Inc.

            9.3.5.1. Overview

            9.3.5.2. Product Portfolio

            9.3.5.3. Profitability by Market Segments (Product/Channel/Region)

            9.3.5.4. Production Footprint

            9.3.5.5. Sales Footprint

            9.3.5.6. Channel Footprint

            9.3.5.7. Gross Margin Benchmarking

            9.3.5.8. Strategy Overview

            9.3.5.9. Marketing Strategy

            9.3.5.10. Product Strategy

            9.3.5.11. Channel Strategy

        9.3.6. Techtronic Industries Co. Ltd

            9.3.6.1. Overview

            9.3.6.2. Product Portfolio

            9.3.6.3. Profitability by Market Segments (Product/Channel/Region)

            9.3.6.4. Production Footprint

            9.3.6.5. Sales Footprint

            9.3.6.6. Channel Footprint

            9.3.6.7. Gross Margin Benchmarking

            9.3.6.8. Strategy Overview

            9.3.6.9. Marketing Strategy

            9.3.6.10. Product Strategy

            9.3.6.11. Channel Strategy

        9.3.7. Estwing Manufacturing Company, Inc

            9.3.7.1. Overview

            9.3.7.2. Product Portfolio

            9.3.7.3. Profitability by Market Segments (Product/Channel/Region)

            9.3.7.4. Production Footprint

            9.3.7.5. Sales Footprint

            9.3.7.6. Channel Footprint

            9.3.7.7. Gross Margin Benchmarking

            9.3.7.8. Strategy Overview

            9.3.7.9. Marketing Strategy

            9.3.7.10. Product Strategy

            9.3.7.11. Channel Strategy

        9.3.8. Vaughan & Bushnell Manufacturing

            9.3.8.1. Overview

            9.3.8.2. Product Portfolio

            9.3.8.3. Profitability by Market Segments (Product/Channel/Region)

            9.3.8.4. Production Footprint

            9.3.8.5. Sales Footprint

            9.3.8.6. Channel Footprint

            9.3.8.7. Gross Margin Benchmarking

            9.3.8.8. Strategy Overview

            9.3.8.9. Marketing Strategy

            9.3.8.10. Product Strategy

            9.3.8.11. Channel Strategy

        9.3.9. ABC Hammers, Inc.

            9.3.9.1. Overview

            9.3.9.2. Product Portfolio

            9.3.9.3. Profitability by Market Segments (Product/Channel/Region)

            9.3.9.4. Production Footprint

            9.3.9.5. Sales Footprint

            9.3.9.6. Channel Footprint

            9.3.9.7. Gross Margin Benchmarking

            9.3.9.8. Strategy Overview

            9.3.9.9. Marketing Strategy

            9.3.9.10. Product Strategy

            9.3.9.11. Channel Strategy

        9.3.10. Hardcore Hammers

            9.3.10.1. Overview

            9.3.10.2. Product Portfolio

            9.3.10.3. Profitability by Market Segments (Product/Channel/Region)

            9.3.10.4. Production Footprint

            9.3.10.5. Sales Footprint

            9.3.10.6. Channel Footprint

            9.3.10.7. Gross Margin Benchmarking

            9.3.10.8. Strategy Overview

            9.3.10.9. Marketing Strategy

            9.3.10.10. Product Strategy

            9.3.10.11. Channel Strategy

10. Assumptions and Acronyms

11. Research Methodology

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List of Tables

Table 01: U.S. Hitter-Based Hand Tools Market Volume ('000 Units) and Value (US$ Mn) Historical Data 2022–2028 and Forecast 2022 – 2028 by Product Type

Table 02: U.S. Hitter-Based Hand Tools Market Volume ('000 Units) and Value (US$ Mn) Historical Data 2022–2028 and Forecast 2022 – 2028 by Sales Channel

Table 03: U.S. Hitter-Based Hand Tools Market Volume ('000 Units) and Value (US$ Mn) Historical Data 2022–2028 and Forecast 2022 – 2028 by End User Sector

Table 04: U.S. Hitter-Based Hand Tools Market Volume ('000 Units) and Value (US$ Mn) Historical Data 2022–2028 and Forecast 2022 – 2028 by Region

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Principal Consultant
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List of Charts

Figure 01: U.S. Population Growth, 2012-2017

Figure 02: U.S. Population Split by Region, 2017

Figure 03: U.S. Hitter-Based Hand Tools Market Historical Volume ('000 Units), 2022 – 2028

Figure 04: U.S. Hitter-Based Hand Tools Market Volume ('000 Units) Forecast, 2022 – 2028

Figure 05: U.S. Hitter-Based Hand Tools Market Historical Value (US$ Mn) & Y-o-Y Growth (%), 2022–2028

Figure 06: U.S. Hitter-Based Hand Tools Market Value (US$ Mn) Forecast & Y-o-Y Growth (%), 2022–2028

Figure 07: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity, 2022–2028 

Figure 08: U.S. Hitter-Based Hand Tools Market Share and BPS Analysis by Product Type–2022 & 2028

Figure 09: U.S. Hitter-Based Hand Tools Market Y-o-Y Growth Projection by Product Type, 2022 – 2028

Figure 10: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity By Hammers Segment, 2022–2028

Figure 11: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity By Mallets Segment, 2022–2028

Figure 12: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity By Axes Segment, 2022–2028

Figure 13: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity By Shovels Segment, 2022–2028

Figure 14: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity By Crowbars Segment, 2022–2028

Figure 15: U.S. Hitter-Based Hand Tools Market Attractiveness Analysis by Product Type, 2022 – 2028

Figure 16: U.S. Hitter-Based Hand Tools Market Share and BPS Analysis by Sales Channel – 2022 & 2028

Figure 17: U.S. Hitter-Based Hand Tools Market Y-o-Y Growth Projection by Sales Channel, 2022 – 2028

Figure 18: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by Bulk Distributor Sales Segment, 2022 – 2028

Figure 19: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by Retail Sales Segment, 2022 – 2028

Figure 20: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by Online Sales Segment, 2022 – 2028

Figure 21: U.S. Hitter-Based Hand Tools Market Attractiveness Analysis by Sales Channel, 2022 – 2028

Figure 22: U.S. Hitter-Based Hand Tools Market Share and BPS Analysis by End User Sector – 2022 & 2028

Figure 23: U.S. Hitter-Based Hand Tools Market Y-o-Y Growth Projection by End User Sector, 2022 – 2028

Figure 24: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by Household & DIY Segment, 2022 – 2028

Figure 25: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by Construction Segment, 2022 – 2028

Figure 26: U.S. Market Absolute $ Opportunity by Woodworking & Framing Segment, 2022 – 2028

Figure 27: U.S. Market Absolute $ Opportunity by Manufacturing & Fitting Segment, 2022 – 2028

Figure 28: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by Mining Segment, 2022 – 2028

Figure 29: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by Forestry & Agriculture Segment, 2022 – 2028

Figure 30: U.S. Market Absolute $ Opportunity by Defense, Fire & Other Rescue Management Segment, 2022 – 2028

Figure 31: U.S. Hitter-Based Hand Tools Market Attractiveness Analysis by End User Sector, 2022 – 2028

Figure 32: U.S. Hitter-Based Hand Tools Market Share and BPS Analysis by Region – 2022 & 2028

Figure 33: U.S. Hitter-Based Hand Tools Market Y-o-Y Growth Projection by Region, 2022 – 2028

Figure 34: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by Northeast Region, 2022 – 2028

Figure 35: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by Midwest Region, 2022 – 2028

Figure 36: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by South Region, 2022 – 2028

Figure 37: U.S. Hitter-Based Hand Tools Market Absolute $ Opportunity by West Region, 2022 – 2028

Figure 38: U.S. Hitter-Based Hand Tools Market Attractiveness Analysis by Region, 2022 – 2028

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U.S. Hitter Based Hand Tools Market