Report: Automotive sector helps drive rising demand for hand tools and accessories

Report cites improvements in hand tools affecting continued growth.


The U.S. constitutes the largest regional market worldwide, as stated by the new market research report on hand tools and accessories. The rebound in the residential housing sector in the US, backed by the increase in new housing starts, is expected to propel the demand for hand tools in the country. Though industrialized countries, such as Europe and the U.S., continue to hold a significant share of the global hand tools and accessories market, emerging economies in Asia are considered as substantial growth markets. Asia-Pacific is poised to exhibit the fastest CAGR of 7.8% during the analysis period. Mechanics' service tools leads the hand tools and accessories market. Though edge tools represents the smallest product segment of the overall market, the segment is forecast to exhibit the fastest CAGR of about 5.5% over the analysis period.

Major players profiled in the report include Akar Tools Ltd., Apex Tool Group, Delta Power Equipment Corp., Emerson Electric Co., Facom Tools Group, J.K. Files & Tools Limited, Jore Corporation, Kennametal Inc., Leatherman Tool Group Inc., Pilana Tools, Robert Bosch Tool Corp., Snap-On Inc., and Stanley Black & Decker, among others.

The research report titled "Hand Tools and Accessories: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive market overview of the hand tools market, key growth drivers, market trends and issues, market shares of leading players, construction industry review, product segment details, recent product introductions, recent industry activity, and profiles of leading and niche global and regional market players. Market estimates and forecasts for the hand tools market is provided in value terms for the years 2010 through 2018 for major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Middle East/Africa.

Key market segments analyzed include mechanics' service tools, edge tools, hand saws, and miscellaneous hand tools and accessories. The study also provides historic data for an insight into market evolution over the period 2004 through 2009.

For more details about this comprehensive market research report, visit http://www.strategyr.com/Hand_Tools_and_Accessories_Market_Report.asp

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