New York, November 3, 2021/PRNewswire/ - The hand tools market in the UK will grow by US$16.373 million between 2020 and 2025, with a compound annual growth rate of more than 6% during the forecast period. The market is segmented by end users (industrial and household) and applications (general purpose, metal cutting, etc.). The report details the supplier's performance in terms of revenue generation, market position, product launches, and customer base.
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Key Points of Hand Tools Market Research
The size of the UK hand tools market will grow at a compound annual growth rate of more than 6% between 2020 and 2025 by USD 163.73 million
The industrial sector accounts for the largest market growth in 2020
Major suppliers include Channellock Inc., Draper Tools Ltd., Kennametal Inc., etc.
UK hand tools market: growth drivers and constraints
The hand tool market is driven by the increasing popularity of DIY activities. In the UK, the number of people involved in DIY home improvement activities (such as carpentry, plumbing and electrical applications) is increasing. This can be attributed to the high labor costs associated with these services. In addition, the promotion of DIY activities by bloggers and video bloggers and privacy issues have also increased personal adoption of DIY hand tools. This trend is expected to drive market growth during the forecast period.
"Although the UK's growing construction market and the increase in industrial production will further drive market growth, fluctuations in raw material prices may reduce growth opportunities for market participants," said an analyst at Technavio.
The Hand Tools Market Report answers the following questions:
Is the market structure fragmented or concentrated?
What is the market size in 2020 and the forecast of the manual tool market by 2025?
During the forecast period, which areas are most worth investing in?
What is the market share of dominant and strong suppliers in the hand tool market?
What are the latest trends and regulatory frameworks in the hand tools market?
Answer all your questions in our full report.
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Hand tools market in the UK
Accelerate with a compound annual growth rate of over 6%
Leading company, competitive strategy, scope of consumer participation
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 Ltd.
Mother market analysis, market growth incentives and obstacles, fast-growing and slow-growing market segments, COVID-19 impact and future consumer dynamics, and market conditions during the forecast period.
If our report does not contain the data you are looking for, you can contact our analysts and customize the market segment.
Market size... Check out our hand tools market snapshot to unlock TOC
About Us Technavio is the world's leading technology research and consulting company. Their research and analysis focus on emerging market trends and provide actionable insights to help companies identify market opportunities and formulate effective strategies to optimize their market position. Technavio's report library has more than 500 professional analysts, including more than 17,000 reports, and it is constantly increasing, covering 800 technologies across 50 countries/regions. Their customer base includes companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio's comprehensive coverage, extensive research, and actionable market insight to identify opportunities in existing and potential markets, and evaluate their competitive position in changing market scenarios.
Contact Technavio Research Jesse Maida Media and Marketing Director United States: 1 844 364 1100 United Kingdom: 44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
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