The North American hand tools market is estimated to display a steady CAGR of 2.0% during the forecast period (2020-2026). North America is a dominating force in nearly all of the industries. The automobile industry in North America is extensively large with the presence of giants such as General Motors and Ford Motor. The role of power tools in the automobile industry is predominant in recent years due to its multiple and effective uses. The wide choices and preferences for consumers like vinyl wraps, roof denting, or stickering can be met through the effective usage of tools such as heat guns. The heat guns are mainly preferred by the auto body shop owners in North America since it can update the looks by applying the optimum amount of heat in the vinyl wrapping. It can also enhance consumer satisfaction by fixing blemishes and removing old adhesives. The rising role of power tools in major end-user segments like automotive can reduce the significance of traditional hand tools in the region. With the surge of Li-ion battery technology, which is expected to grow at a CAGR of 9.3% during 2019–2024, the threat is more certain for players in the hand tools industry which demands add-on sophistication, precision, and safety features.
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North America also accounts for more than 50.0% share of the global aerospace parts manufacturing. This scenario is expected to remain consistent throughout the years owing to the rising air traffic in the region. The new aircraft building with precision parts will further make use of hand tools to enhance the overall productivity, in North America.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
North American Hand Tools Market Report Segment
By Tool Type
o Hammers
o Clamps and Vises
o Pliers
o Ratchets and Sockets
o Riveters
o Screwdrivers and Nut Drivers
o Wrecking Bars
o Wrenches
o Chisel and Files
o Cable and Wire Cutting Tools
o Knives and Blades
o Saws
o Plumb Bob
o Try Square
By End-User
North American Hand Tools Market Report Segment by Country
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