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Household Hand Tools Market Analysis, Revenue Details, Emerging Trends and Forecasts To 2025

The global household hand tools market is estimated to reach USD 5.4 billion, by 2025, and is projected to grow at a CAGR of 4.0% from 2019 to 2025

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Household Hand Tools Market Analysis, Revenue Details, Emerging Trends and Forecasts To 2025

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  1. Household Hand Tools Market Analysis, Revenue Details, Emerging Trends and Forecasts To 2025 “The global household hand tools market is estimated to reach USD 5.4 billion, by 2025, and is projected to grow at a CAGR of 4.0% from 2019 to 2025, according to a new report by Million Insights. The increase in the demand for hand tools in the household is attributed to the changing consumer behaviour and preference towards (DIY) approach.” The global household hand tools market is estimated to reach USD 5.4 billion, by 2025, and is projected to grow at a CAGR of 4.0% from 2019 to 2025, according to a new report by Million Insights. The increase in the demand for hand tools in the household is attributed to the changing consumer behavior and preference towards (DIY) approach. Owing to the increasing labor costs especially in countries such as the U.S., U.K., and Canada are expected to increase the demand for the product in the next few years. The advancement in technology is expected to play a vital role in manufacturing handy equipment for household repairing. Due to this factor, the consumers are now adopting the self-help method to repair & modify at home. The availability of various ranges of the multifunctional tools to cater consumer requirements is projected to foster the demand for hand tools. The manufacturers in the market are offering highly durable and string tools made by using steel, iron, black metal and wood. Moreover, the manufacturers focus on producing multi-functional tools in compact sizes to meet consumer needs. For example, in 2019, Bosch introduced Bosch GSB 500 RE kit for repair and modifying household applications. These new product innovations are expected to boost the demand for handy tools. General hand tools are projected to grow at the fastest CAGR of 4.2% from 2019 to 2025. These tools are mainly used for minor repair and maintenance applications at home which are driving the demand for the product. The rising popularity of the home gardening is also anticipated to propel the product demand in the coming few years. Online channel is projected to grow at the CAGR of 4.2%, from 2019 to 2025. Increasing penetration of digital or e- commerce is one of the main reasons for the rise in the online chains. Top players such as Amazon, Snapdeal, Flipkart are offering doorstep delivery options which is gaining in popularity particularly among younger generation. Request Sample Copy of This Market Research @ https://www.millioninsights.com/industry-reports/global-household-hand-tools-market/request-sample

  2. Asia Pacific region is expected to grow at the highest CAGR of 4.8%, from 2019 to 2025. The rising adoption of western culture and access to major repair tutorials for household modification and repairs is expected to propel the household hand tool market growth. Further key findings from the report suggest: • In 2018, general tools attributed to the highest market share of over 30.0% in the overall market. • Based on the distribution channel, retail channels segment attributed to market share over 50% in 2018. • Asia Pacific is projected to grow at the CAGR of 4.8% from 2019 to 2025. • Major players in the market are Klein Tools, Apex Tool Group, Great Wall Precision, JK Files, Wurth Group, Stanley Black & Decker, Channellock, PHOENIX, Akar Tools, Sinotools, and JPW Industries. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/global-household-hand-tools-market Million Insights has segmented the global household hand tools market based on product, distribution channel, and region: Household Hand Tools Product Outlook (Revenue, USD Million, 2015 - 2025) • Cutting • Measuring • Taps & Dies • General Household Hand Tools Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025) • Retail Channels

  3. • Online Household Hand Tools Regional Outlook (Revenue, USD Million, 2015 - 2025) • North America • U.S. • Europe • Germany • U.K. • Asia Pacific • China • India • Central & South America • Middle East & Africa See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/consumer-goods

  4. Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions. Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com Global Headquarters Million Insights Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States Phone: 1-408-610-2300 Email: sales@millioninsights.com Asia Pacific Million Insights Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India Phone: 91-20-65300184

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