Insulated Tools Market
Global Insulated Tools Market Size, Share & Trends Analysis Report by Tools Type (Holding tools, Cutting tools, Driving tools, and Others), by Voltage Type (High Voltage, and Low Voltage), and by Application (Home, and Commercial) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
The global insulated tools market is anticipated to grow at a considerable CAGR of 8.3% during the forecast period. One of the core factors that is fueling the market is the growing applications of electricity, and batteries in products such as toys, vehicles, homes, commercial, and others which has increased the demand for insulated tools across the globe. As per the annual report of Havells 2021, the company launched 12 new electric products. This reflects that the variety of products had been growing for years, which has directly increased the number of failures or temporary defects in the products, thus the demand for insulated tools was raised to fix those products.
Impact of COVID-19 Pandemic on Global Insulated Tools Market
COVID-19 impacted negatively the insulated tools market across the globe owing to the implementation of lockdown in most the nations which halted the production and supply chain of insulated tools. It also halted the production of electric products which directly declined the demand for insulated tools. The market players faced a decline in sales, however, they tried to take some innovative steps to maintain their footing in the market. As per the annual report of Honeywell International Inc., 2020, the company stated that “COVID-19 spread from nation to nation, key end markets faltered, and we had to quickly adjust our cost base to maintain our footing. I frequently say to my team that while easy economic conditions are far more fun than what we had to go through in 2020, it’s the toughest conditions that test us the most and enable us to grow stronger as leaders. In the face of the pandemic – one of the most disruptive events ever to affect our business – I could not be prouder of Honeywell’s team and how we responded to extremely difficult circumstances.” However, as the situation normalized, the demand grew significantly and anticipated a considerable growth during the forecast period.
Segmental Outlook
The global insulated tools market is segmented based on the tools type, voltage type, and application. Based on the type of tool, the market is segmented into holding tools, cutting tools, driving tools, and others. Based on the voltage type, the market is sub-segmented into high voltage and low voltage. Based on the application, the market is sub-segmented into the home, and commercial. The above-mentioned segments can be customized as per the requirements. Based on voltage type, the high voltage segment is anticipated to grow significantly in the market owing to the increasing high voltage products while based on application, the commercial segment is estimated to show significant growth during the forecast period attributing to the growing high, and complicated electronic product which can be only resolved by highly practiced professional.
Global Insulated Tools Market Share by Voltage Type, 2021 (%)
The High Voltage Segment Anticipated to Grow Significantly in the Global Insulated Tools Market
Based on voltage type, the high voltage segment is estimated to grow significantly in the market during the forecast period owing to the increasing high voltage products such as commercial machines, generators, electric vehicle drivetrains, and others. For instance, as per the data of the International Energy Agency (IEA) 2020, the sales of EV cars increased by more than 40% as compared to the sales of EV cars in 2019. This indicates the high demand for high voltage products which can work with high power for a long period. Such products require high voltage insulated tools for checking, manufacturing, and servicing.
Regional Outlooks
The global insulated tools market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Asia-Pacific is anticipated to hold the prominent share of the market while North America is estimating a significant growth during the forecast period.
Global Insulated Tools Market Growth, by Region 2022-2028
The Asia-Pacific Region Anticipated to Hold the Prominent Share in the Global Insulated Tools Market
Based on region, the Asia-Pacific region is anticipated to hold a prominent share in the market during the forecast period owing to the rising industries and infrastructure in the region. The presence of emerging countries such as China, India, Japan, and others have been strengthening economically which has been reflected in the industrial, and infrastructure growth. Such growth in such countries has contributed to the significant demand for insulated tools for manufacturing, constructing, machining, and servicing in the region. Moreover, the presence of key electric products companies such as Samsung Electronics Co. ltd., Intel, Taiwan Semiconductor Mfg. Co Ltd, SK Hynix Inc., Micron Technology Inc., and others have also contributed to the growth of the market.
Market Players Outlook
The major companies serving the global insulated tools market include Emerson Electric Co. (Greenlee), FAKRO America, LLC., Honeywell International Inc., IDEAL INDUSTRIES, INC., Stanley Black & Decker, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2021, Taparia Tools introduced their VDE Pliers which are made of alloy steel for enhancing the VDE Pliers' performance. These Pliers are completely insulated with high-quality covers that can stand up to 1000V AC.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global insulated tools market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Insulated Tools Market
• Recovery Scenario of Global Insulated Tools Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Emerson Electric Co. (Greenlee)
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. FAKRO America, LLC.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Honeywell International Inc.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. IDEAL INDUSTRIES, INC.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Stanley Black & Decker, Inc.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Segmentation
4.1. Global Insulated Tools Market by Tools Type
4.1.1. Holding tools
4.1.2. Cutting tools
4.1.3. Driving tools
4.1.4. Others (Measuring tools)
4.2. Global Insulated Tools Market by Voltage Type
4.2.1. High Voltage
4.2.2. Low Voltage
4.3. Global Insulated Tools Market by Application
4.3.1. Home
4.3.2. Commercial
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Fluke Corp.
6.2. Klein Tools, Inc.
6.3. KNIPEX
6.4. Megger Group Ltd
6.5. Milwaukee Electric Tool Corp.
6.6. SNA Europe group (Bahco)
6.7. Teng Tools
6.8. Wera Werkzeuge GmbH
6.9. Willi Hahn Corp.
1. GLOBAL INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY TOOLS TYPE, 2021-2028 ($ MILLION)
2. GLOBAL HOLDING INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL CUTTING INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL DRIVING INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL OTHERS INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY VOLTAGE TYPE, 2021-2028 ($ MILLION)
7. GLOBAL HIGH VOLTAGE INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL LOW VOLTAGE INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
10. GLOBAL INSULATED TOOLS FOR HOME MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL INSULATED TOOLS FOR COMMERCIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
13. NORTH AMERICAN INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY TOOLS TYPE, 2021-2028 ($ MILLION)
15. NORTH AMERICAN INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY VOLTAGE TYPE, 2021-2028 ($ MILLION)
16. NORTH AMERICAN INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
17. EUROPEAN INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
18. EUROPEAN INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY TOOLS TYPE, 2021-2028 ($ MILLION)
19. EUROPEAN INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY VOLTAGE TYPE, 2021-2028 ($ MILLION)
20. EUROPEAN INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY TOOLS TYPE, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY VOLTAGE TYPE, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
25. REST OF THE WORLD INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. REST OF THE WORLD INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY TOOLS TYPE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY VOLTAGE TYPE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD INSULATED TOOLS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL INSULATED TOOLS MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL INSULATED TOOLS MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL INSULATED TOOLS MARKET, 2022-2028 (%)
4. GLOBAL INSULATED TOOLS MARKET SHARE BY TOOLS TYPE, 2021 VS 2028 (%)
5. GLOBAL HOLDING INSULATED TOOLS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL CUTTING INSULATED TOOLS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL DRIVING INSULATED TOOLS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL OTHERS INSULATED TOOLS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL INSULATED TOOLS MARKET SHARE BY VOLTAGE TYPE, 2021 VS 2028 (%)
10. GLOBAL HIGH VOLTAGE INSULATED TOOLS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL LOW VOLTAGE INSULATED TOOLS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL INSULATED TOOLS MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
13. GLOBAL INSULATED TOOLS FOR HOME MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL INSULATED TOOLS FOR COMMERCIAL MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL INSULATED TOOLS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. US INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
17. CANADA INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
18. UK INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
19. FRANCE INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
20. GERMANY INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
21. ITALY INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
22. SPAIN INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
23. REST OF EUROPE INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
24. INDIA INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
25. CHINA INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
26. JAPAN INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
27. SOUTH KOREA INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF ASIA-PACIFIC INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF THE WORLD INSULATED TOOLS MARKET SIZE, 2021-2028 ($ MILLION)
