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

 Hitter-based hand tools includes hitting and striking hand tools, such as hammers, axes, mallets, shovels and crowbars. Growing demand in households coupled with increasing number of do-it yourself (DIY) activities is augmenting the global sales of hitter based hand tools. As per a recent study by Future Market Insights (FMI), the hitter-based hand tools market is anticipated to grow at a moderate pace over the forecast period of 2018-2028.

Get | Download Sample Copy with Graphs & List of Figures:

https://www.futuremarketinsights.com/reports/sample/rep-gb-7232

The U.S hitter-based hand tools market is estimated to stand at a market valuation of US$ 687.1 Mn by 2028, registering a CAGR of 3.3% during the forecast period (2018 – 2028). FMI has specifically studied the U.S market for hitter-based hand tools, in the wake of increasing construction and DIY activities in the region. Also, various drivers, trends, restraints, and opportunities have been analyzed, that are likely to further shape the global hitter-based hand tools market, in the next ten years.

A highly Consolidated U.S Hitter-Based Hand Tools Market to Gain From Product Innovation

The market for hitter-based hand tools is highly consolidated and the key players are focusing on acquisitions and expansions to enhance their market share. Additionally, incessant competition between tool manufacturers is likely to restrict the growth of the hand tools market to some extent.

For More Information or Query or Customization Before Buying, Visit:

https://www.futuremarketinsights.com/customization-available/rep-gb-7232

Research also suggests that increased automation in production process will displace the market for hitter-based and tools. Future Market Insights predicts that the aforementioned factors may dampen U.S revenue growth of the hitter-based hand tools market in the coming years.

Key players in the U.S hitter-based hand tools market have been channelizing efforts towards strengthening their distribution channels while also focusing on online sales of hand tools by signing agreements with different online portals, as consumers are more likely to buy hitter-based hand tools through online channels, owing to the growing consumer preference towards ecommerce.

Manufacturers are also focusing on new product innovation with greater efficiency and easy maintenance qualities. Top manufacturers of hitter-based hand tools in the U.S market are Stanley Black & Decker Inc, Apex Tool Group LLC, Snap-on Incorporated, Vaughan & Bushnell Manufacturing, and Estwing Manufacturing Company, Inc.

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.

For any queries linked with the report, ask an analyst

https://www.futuremarketinsights.com/ask-question/rep-gb-7232

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.

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.

 

Comments

Post a Comment

Popular posts from this blog

Palletizing Robots Market – Latest Research, Industry Analysis, Driver, Trends, Business Overview, Key Value, Demand And Forecast

 Palletizing robots are a kind of equipment that help in the automatic compiling of various kinds of products on a pallet. The global  palletizing robots market  is slated to touch a value of about US$ 1,500 Mn in the year 2022 and display a robust CAGR during the assessment period. Pallet wrapping functions are an important part of the packaging line workflow before the product is transported and distributed to different locations. Because of advancements in the field of robotics, more advanced forms of palletizing robots have emerged, capable of lifting heavy weights and even products from greater heights due to their long arms. In addition, hybrid palletizing robots with a simple user interface and easy operation have been developed, in addition to being cost effective and efficient to use. Such hybrid palletizing robots are capable of performing complex tasks such as handling delicate products. Palletizing robots that can operate at high speeds and deliver high qu...
Read more

Global Industrial Automation Market To Reach A Valuation Of US$ 51 Bn By 2026

  According to the  industrial automation market  analysis  by Future Market Insights (FMI), the market is poised to attain a CAGR of 7% during the forecast period 2022-2032. The industrial automation market growth can be attributed to rising demand for real-time data analysis across geographies and increased adoption of cutting-edge technology across end-use industries to improve performance. Get | Download Sample Copy with Graphs & List of Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-14308 The significance of predictive maintenance and asset management solutions, which provide users with better visibility into their equipment condition, is accelerating the demand for industrial automation solutions. The efficient flow of information across different units in an industry allows for the most efficient conversion of raw materials to finished goods, highlighting the significance of the connected enterprise system, which au...
Read more

High Processing Equipment Market

 In its latest report, Future Market Insights (FMI) has identified few of the major trends governing the overall  market for  high pressure  processing equipment  (HPPE). In brief, rapid adoption of high pressure processing technique among premium juice manufacturers, automation and technological innovation and growing number of HPP tolling service providers are playing a major role in shaping the market trajectories currently. Hiperbaric S.A -- Most Successful Player in Recent Years According to the report, Hiperbaric S.A a prominent manufacturer of high pressure processing equipment is the current leader in the global market as the company’s hold over the North American region is substantially strong. FMI’s Insights on Growth Factors FMI indicates that the growing demand for processed, packaged and ready-to-eat food products worldwide is encouraging the use of high pressure processing equipment in food and beverage industry. Growing ...
Read more