Hand Tools

Opportunities Exist, Even in this Mature Market

Hand Tools

US demand for hand tools is expected to grow 1.4% annually to $5.7 billion in 2022. In a mature market such as this one, suppliers must find areas where market penetration could still increase and recognize opportunities for value-added growth. For instance, baby boomers, who already own hand tools after many years of homeownership, are now looking for ergonomic improvements to make household repairs, chores, and professional work more comfortable, driving gains in new and value-added tool purchases.

Key Findings in the Hand Tools Study:

Demographic Factors Driving Gains

Growth in the US hand tools market is largely determined by consumer demographics. As people move or buy homes, they often purchase hand tools in anticipation of minor home maintenance and repair activities. Millennials – who have a tendency to delay homeownership – are now moving into their first homes and are becoming more significant tool buyers. However, many are choosing to live in urban areas and remain in rental properties.

Additionally, single women are increasingly moving into their own homes, so this long neglected demographic is a rising target for tool marketers. Suppliers can appeal to women by providing smaller, lightweight versions of tools and kits for common tasks but need to avoid stereotypes such as pink tools.

E-Commerce Boosting Growth in All Markets

E-commerce is by far the fastest growing distribution channel for hand tools, as both consumers and professionals order more online due to convenience and wide product selection. Online purchases can also be picked up in-store after ordering online in the continued integration of e-commerce and retail stores – often known as “bricks and clicks.” Benefits accrue when customers pick up their orders and then decide to buy hand tools or other small add-on items while they are in the store.

Tariffs and Threat of a Trade War Are Creating Uncertainty

China is the largest source of US hand tool imports due to the country’s lower labor costs and extensive manufacturing infrastructure. Imports are forecast to account for an increasing share of US demand as low production costs can provide a significant advantage when savings are passed to the consumer.

However, the Trump administration’s June 2018 steel and aluminum tariffs imposed on metals imported to the US from the European Union, Canada, and Mexico are expected to contribute somewhat to price increases in hand tools, at least in the near term, as companies consider adjusting supply chains. Furthermore, additional tariffs target imports of hand tools and other consumer goods from China, specifically.

Study Coverage

This industry study presents historical demand data (2007, 2012, and 2017) and forecasts for 2022 by product (specialized automotive tools; wrenches; pliers; screwdrivers; hammers; paint and masonry tools; chisels; axes, adzes, and hatchets; hand saws; other hand tools; and parts and attachments), by market (construction, automotive aftermarket, industrial and other professional, and consumer), and by distribution channel (direct sales and distributors, home centers, hardware stores, mass marketers, and e-commerce). The study also evaluates company market share and provides analysis on industry competitors including Stanley Black & Decker and Snap-on.

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  1. Hand Tools

    $4,900.00

    1. 1 EXECUTIVE SUMMARY

      $183.00

      1. Figure 1-1 | US Hand Tools Market

    2. 2 OVERVIEW

      $2,255.00

      1. 2.1 Key Findings

        $82.00

        1. Figure 2-1 | Key Trends in the US Hand Tools Market

      2. 2.2 Consumer Trends

        $863.00

        1. 2.2.1 Overview

          $82.00

        2. 2.2.2 Women Are An Increasingly Important Market

          $90.00

          1. Figure 2-2 | DIY Workshops for Women – Marketing Example

        3. 2.2.3 The Importance of Baby Boomers Cannot Be Forgotten

          $82.00

        4. 2.2.4 DIY Ethic & Online Resources

          $105.00

          1. Table | Consumer Views on Home Improvement & Hand Tools

          2. Figure 2-3 | Sample Pinterest DIY Home Décor Project Inspiration Webpage

        5. 2.2.5 Purchasing Trends

          $597.00

          1. Table | Consumer Views on Power Tool Quality & Consumer Spending Habits

          2. Table | Consumer Purchasing Behavior: "Did you buy any general purpose hand tools in the last 12 months?" by Rural/Suburban/Urban Residency, Gender, Age Group, Marital Status, & Presence of Children

          3. Table | Consumer Purchases by Product: "Which type(s) of general purpose hand tool(s) did you buy in the last 12 months?"

          4. Table | Consumer Purchases by Type of Store: "Where did you purchase the hand tools or accessories?"

      3. 2.3 Pricing Trends

        $249.00

        1. Table | Price Deflator for Hand Tools, 2007 – 2022

      4. 2.4 Global Hand Tool Demand Outlook

        $257.00

        1. Table | Global Hand Tool Demand, 2007 – 2022

        2. Figure 2-4 | Global Hand Tool Demand Share by Country/Region, 2017

      5. 2.5 US Supply & Demand Overview

        $147.00

        1. Table | Hand Tool Supply & Demand, 2007 – 2022

        2. Figure 2-5 | Hand Tool Demand, 2007 – 2022

      6. 2.6 Demand Opportunities

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        1. Figure 2-6 | Sales Opportunities – Product Example

      7. 2.7 Supply Opportunities

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      8. 2.8 Trade

        $375.00

        1. 2.8.1 Overview

          $82.00

        2. 2.8.2 Imports

          $84.00

          1. Figure 2-7 | Hand Tool Imports Share by Source, 2017

        3. 2.8.3 Exports

          $82.00

          1. Figure 2-8 | Hand Tool Exports Share by Destination, 2017

        4. 2.8.4 Tariffs

          $220.00

    3. 3 PRODUCTS

      $4,080.00

      1. 3.1 Key Findings

        $82.00

        1. Figure 3-1 | Key Trends in US Hand Tool Products

      2. 3.2 Overview

        $227.00

        1. Table | Hand Tool Supply & Demand by Product, 2007 – 2022

        2. Figure 3-2 | Hand Tool Demand, 2017 – 2022

      3. 3.3 Hand Service Tools

        $2,283.00

        1. 3.3.1 Hand Service Tools: Scope

          $82.00

        2. 3.3.2 Hand Service Tools: Supply & Demand

          $191.00

          1. Table | Hand Service Tool Supply & Demand, 2007 – 2022

          2. Figure 3-3 | Hand Service Tool Demand, 2017 – 2022

        3. 3.3.3 Hand Service Tools: Imports

          $82.00

          1. Figure 3-4 | Hand Service Tool Imports Share by Source, 2017

        4. 3.3.4 Hand Service Tools: Exports

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          1. Figure 3-5 | Hand Service Tool Exports Share by Source, 2017

        5. 3.3.5 Hand Service Tools: Suppliers

          $97.00

          1. Table | Selected Hand Service Tool Brands

        6. 3.3.6 Specialized Automotive Tools

          $394.00

          1. Figure 3-6 | Specialized Automotive Tools – Product Examples

          2. Table | Specialized Automotive Tool Supply & Demand, 2007 – 2022

          3. Figure 3-7 | Specialized Automotive Tool Imports Share by Source, 2017

        7. 3.3.7 Wrenches

          $410.00

          1. Table | Wrench Characteristics & Primary Uses by Type

          2. Figure 3-8 | Wrenches – Product Examples

          3. Table | Wrench Supply & Demand, 2007 – 2022

          4. Figure 3-9 | Wrench Demand, 2017 – 2022

          5. Figure 3-10 | Wrench Imports Share by Source, 2017

        8. 3.3.8 Pliers

          $292.00

          1. Figure 3-11 | Pliers – Product Examples

          2. Table | Pliers Supply & Demand, 2007 – 2022

        9. 3.3.9 Screwdrivers

          $262.00

          1. Figure 3-12 | Screwdrivers & Screwdriver Blades – Product Examples

          2. Table | Screwdriver Supply & Demand, 2007 – 2022

        10. 3.3.10 Hammers

          $260.00

          1. Figure 3-13 | Hammers – Product Examples

          2. Table | Hammer Supply & Demand, 2007 – 2022

        11. 3.3.11 Other Hand Service Tools

          $206.00

          1. Figure 3-14 | Other Hand Service Tools – Product Examples

          2. Table | Other Hand Service Tool Supply & Demand, 2007 – 2022

      4. 3.4 Edge Tools

        $758.00

        1. 3.4.1 Edge Tools: Scope

          $82.00

        2. 3.4.2 Edge Tools: Supply & Demand

          $183.00

          1. Table | Edge Tool Supply & Demand, 2007 – 2022

          2. Table | Selected Edge Tool & Hand Saw Brands

        3. 3.4.3 Paint & Masonry Tools

          $177.00

          1. Figure 3-15 | Paint & Masonry Tools – Product Examples

          2. Table | Paint & Masonry Tool Supply & Demand, 2007 – 2022

        4. 3.4.4 Chisels

          $215.00

          1. Figure 3-16 | Mortise Chisels – Product Example

          2. Table | Chisel Supply & Demand, 2007 – 2022

        5. 3.4.5 Axes, Adzes, & Hatchets

          $178.00

          1. Figure 3-17 | Ax – Product Example

          2. Table | Ax, Adze, & Hatchet Supply & Demand, 2007 – 2022

      5. 3.5 Hand Saws

        $322.00

        1. 3.5.1 Hand Saws: Product Description

          $82.00

          1. Table | Hand Saw Characteristics & Primary Uses by Type

          2. Figure 3-18 | Hand Saws – Product Examples

        2. 3.5.2 Hand Saws: Supply & Demand

          $209.00

          1. Table | Hand Saw Supply & Demand, 2007 – 2022

          2. Table | Selected Hand Saw Brands

        3. 3.5.3 Hand Saws: Suppliers

          $82.00

      6. 3.6 Other Hand Tools

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        1. 3.6.1 Other Hand Tools: Scope

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          1. Figure 3-19 | Other Hand Tools – Product Examples

        2. 3.6.2 Other Hand Tools: Supply & Demand

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          1. Table | Other Hand Tool Supply & Demand, 2007 – 2022

        3. 3.6.3 Other Hand Tools: Trade

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        4. 3.6.4 Other Hand Tools: Suppliers

          $82.00

      7. 3.7 Parts & Attachments

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        1. 3.7.1 Parts & Attachments: Scope

          $82.00

        2. 3.7.2 Parts & Attachments: Supply & Demand

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          1. Table | Parts & Attachments Supply & Demand, 2007 – 2022

        3. 3.7.3 Parts & Attachments: Trade

          $82.00

    4. 4 MARKETS

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      1. 4.1 Key Findings

        $82.00

        1. Figure 4-1 | Key Trends in US Hand Tool Markets

      2. 4.2 Market Outlook

        $165.00

        1. 4.2.1 Scope

          $94.00

          1. Table | General Reasons for Hand Tool Purchases Among Professional & Consumer Users

        2. 4.2.2 Demand Forecast

          $82.00

          1. Table | Hand Tool Demand by Market, 2007 – 2022

          2. Figure 4-2 | Hand Tool Demand by Market, 2007 – 2017

      3. 4.3 Professional Demand

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        1. 4.3.1 Overview

          $121.00

          1. Table | Professional Hand Tool Demand by Sector, 2007 – 2022

        2. 4.3.2 Construction

          $90.00

          1. Figure 4-3 | Example of Construction Application for Hand Tools

        3. 4.3.3 Automotive Aftermarket

          $142.00

          1. Figure 4-4 | Example of Automotive Application for Hand Tools

        4. 4.3.4 Industrial & Other Professional Services

          $190.00

          1. Figure 4-5 | Example of Electrician Application of Hand Tools

      4. 4.4 Consumer Demand

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        1. 4.4.1 Scope

          $82.00

        2. 4.4.2 Demand Forecast

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        3. 4.4.3 Marketing

          $82.00

          1. Figure 4-6 | DIY Television Show Product Usage Example

    5. 5 DISTRIBUTION CHANNELS

      $996.00

      1. 5.1 Key Findings

        $82.00

        1. Figure 5-1 | Key Trends in US Hand Tool Distribution Channels

      2. 5.2 Sales by Distribution Channel

        $190.00

        1. Table | Hand Tool Demand by Distribution Channel, 2007 – 2022

        2. Figure 5-2 | Hand Tool Demand Share by Distribution Channel, 2017 & 2022

      3. 5.3 Direct Sales & Distributors

        $203.00

        1. 5.3.1 Scope

          $124.00

        2. 5.3.2 Sales Forecast & Analysis

          $82.00

      4. 5.4 Home Centers

        $225.00

      5. 5.5 Hardware Stores

        $82.00

      6. 5.6 Mass Marketers

        $117.00

        1. Figure 5-3 | Hand Tool Sales – Father's Day Marketing Example

      7. 5.7 E-Commerce

        $157.00

        1. Figure 5-4 | Home Depot Online Ordering Options

    6. 6 INDUSTRY STRUCTURE

      $2,271.00

      1. 6.1 Key Findings & Industry Composition

        $120.00

        1. Table | US Hand Tool Sales by Company, 2017

      2. 6.2 Market Share

        $559.00

        1. Figure 6-1 | US Hand Tools Market Share, 2017

        2. Figure 6-2 | US Hand Tools Market: Leading Supplier

        3. Figure 6-3 | US Hand Tools Market: Second Leading Supplier

        4. Figure 6-4 | US Hand Tools Market: Third Leading Supplier

        5. Figure 6-5 | US Hand Tools Market: Fourth Leading Supplier

        6. Figure 6-6 | US Hand Tools Market: Fifth Leading Supplier

      3. 6.3 Competitive Strategies

        $365.00

        1. 6.3.1 Overview

          $82.00

        2. 6.3.2 Location of Manufacturing Plants: Proximity & Cost Issues

          $123.00

        3. 6.3.3 Marketing Strategies: Powerful Brand Names & Comparisons

          $209.00

          1. Figure 6-7 | Social Media – Competitive Marketing Strategy Example

      4. 6.4 Cooperative Agreements

        $82.00

        1. Table | Selected Cooperative Agreements

      5. 6.5 Mergers & Acquisitions

        $175.00

        1. Table | Selected Acquisitions & Divestitures

      6. 6.6 Private Label Products

        $158.00

        1. Table | Private Label Hand Tool Brand & Product Types

      7. 6.7 List of Industry Participants

        $818.00

    7. 7 APPENDIX

      $2,936.00

      1. 7.1 Scope

        $117.00

        1. Table | Relevant Industry Codes

      2. 7.2 Definitions

        $82.00

      3. 7.3 Abbreviations

        $82.00

        1. Table | Abbreviations & Acronyms Used in Study

      4. 7.4 Freedonia Methodology

        $1,299.00

      5. 7.5 Study-Specific Methodology

        $82.00

      6. 7.6 Sources

        $82.00

      7. 7.7 Associations & Agencies

        $82.00

      8. 7.8 Related Freedonia Group Studies

        $82.00

      9. 7.9 Macroeconomic Assumptions

        $1,261.00

        1. 7.9.1 Economic Environment

          $148.00

          1. Table | Macroeconomic Indicators, 2007 – 2022

          2. Figure 7-1 | Annual Growth in Real GDP, 2000 – 2017, Compared to 1980 – 2005 Average

        2. 7.9.2 Demographic Trends

          $152.00

          1. Table | Population & Households, 2007 – 2022

          2. Figure 7-2 | Annual Population Growth, 2002 – 2017

        3. 7.9.3 Construction Expenditures

          $141.00

          1. Table | Construction Expenditures, 2007 – 2022

        4. 7.9.4 Residential Improvements & Repairs

          $82.00

          1. Table | Residential Improvement & Repair Expenditures, 2007 – 2022

        5. 7.9.5 Commercial Building Improvements & Repairs

          $82.00

          1. Table | Commercial Building Improvement & Repair Expenditures, 2007 – 2022

        6. 7.9.6 Housing Completions

          $82.00

          1. Table | New Housing Indicators, 2007 – 2022

        7. 7.9.7 Motor Vehicle Industry Overview

          $92.00

          1. Table | Motor Vehicle Indicators, 2007 – 2022

        8. 7.9.8 Professional Employment Overview

          $82.00

          1. Table | Professional Employment Indicators, 2007 – 2022

        9. 7.9.9 Manufacturers' Shipments

          $149.00

          1. Table | Manufacturers' Shipments, 2007 – 2022

        10. 7.9.10 Consumer Spending

          $308.00

          1. Table | Personal Consumption Expenditures, 2007 – 2022

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