The European hand tools market is anticipated to at a CAGR of 2.1% during the forecast period. Europe is one of the largest and wealthiest economies and is home to the most developed countries such as the UK, France, Italy, and Spain. The EU accounts for around 76% of the total GDP in Europe. The market also has several world-class manufacturing industries such as automobiles and construction. Since the introduction of the industrial revolution, Europe has grown rapidly in terms of standards of living, per capita income, productivity standards, and adoption of innovation and technology. The rising economic development in the region has also led to rapid urbanization in countries with people opting for more individual and smart homes to improve their lifestyles. Furthermore, the growth of the industrial sector has led to rising demand for hand tools.

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Further, the European aerospace sector is one of the highly developed industries that manufacture high-class jets, helicopters, aero engines, civil aircraft, and unmanned aerial vehicles, which use precision hand tools. Similar growth trends can be also seen in the consumer electronics industry in Europe, which is expected to grow at a high rate during the forecast period, which can further drive the growth for fastening tools. However, the COVID-19 pandemic has disrupted nearly all the major end-user industries in Europe, resulting in decreased demand for hand tools. Under the lockdown norms, the commercial and industrial activities came to a halt, which had a negative impact on the sales of hand tools in Europe. 

The European hand tools market is segmented based on tool type and end-user. Based on tool type, the hand tools market is segmented into general purpose tools (hammers, clamps and vises, pliers, ratchets and sockets, riveters, screwdrivers and nut drivers, wrecking bars, and wrenches), cutting tools (chisel and files, cable and wire cutting tools, knives and blades, and saws), layout and measuring tools (plumb bob and try square), and taps and dies. On the basis of end-user, the market is classified into commercial, industrial, and residential. 

Country-wise, the market is segmented into the UK, Germany, France, Italy, Spain, and Rest of Europe. UK is leading the market in Europe with extensive resources and investment in construction activities in the past decade. In terms of growth rate, Spain is leading the hand tools market and expected to stay at the top by the end of the forecast period (2027). In countries such as the UK and Germany, online sales channels such as Amazon accounted for a large proportion of the overall sales of hand tools. The products are mainly purchased based on consumer reviews and ratings. However, in France, buyers generally prefer DIY stores such as Leroy Merlin, which is one of the most trusted retailers for hand tools and accessories.

Some of the major vendors in Europe include PB Swiss Tools AG, Robert Bosch GmbH, The Würth Group, and Wera Werkzeuge GmbH, where their online presence is a major influencer for their dominance in the highly competitive market.

Research Methodology

The market study of the European hand tools market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. European Hand Tools Market Research and Analysis by Tool Type
2. European Hand Tools Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the European hand tools market.
• This report also includes a detailed and extensive market overview with the key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European hand tools market.
• Insights about market determinants which are stimulating the EuropeaU hand tools market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.