European hand tools market is estimated to record a CAGR of 2.1% during the forecast period (2020-2026). Europe was the third-largest market for hand tools in 2019 and accounted for a share of more than 20%. It is expected to remain one of the significant revenue contributors during the forecast period. This growth ensues from rising investments in the construction industry and infrastructural developments in other general industries. The key markets for hand tools in 2019 were the UK, France, Italy, Spain, and Germany. However, some of the potential markets over the next five years include countries such as the Netherlands, Denmark, Russia, and Portugal due to the rapid infrastructural development in these nations. The construction industry in Europe employs more than 20 million people, accounting for more than 9% of the European GDP. The industry has always been resistant to changes in terms of providing solutions to the dynamic work environment and working spaces, which is expected to fuel the demand for hand tools alongside the advanced battery-operated power tools.
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However, the COVID-19 pandemic brought on damaging effects on the European hand tools market. The lockdown also kickstarted the trend of DIY and crafting activities as consumers were forced to isolate themselves in households. The people also found more time to get involved with pending home repairs and other improvement activities. The scope for tool kits, art, and wooden tools, and repair tools were on the rise during the pandemic, especially in the wrenches, pliers, chisels, knives, and other cutting tools segments. Although the online demand was geared up during early 2020, the issue with product availability and remote delivery was more common. However, the retail stores and DIY chains in economies such as the UK, Italy, and the Netherlands were partially opened during Q3 2020, which had a positive impact on the overall market.
Market Coverage
· Market number available for – 2019-2026
· Base year- 2019
· Forecast period- 2020-2026
· Segment Covered – by Tool Type and End-user
· Countries Covered- UK, Germany, France, Italy, Spain, and Rest of Europe
· Competitive Landscape- PB Swiss Tools AG, Robert Bosch GmbH, The Würth Group, and Wera Werkzeuge GmbH
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European Hand Tools Market Report Segment
By Tool Type
Ø General Purpose Tools
· Hammers
· Clamps and Vises
· Pliers
· Ratchets and Sockets
· Riveters
· Screwdrivers and Nut Drivers
· Wrecking Bars
· Wrenches
Cutting Tools
· Chisel and Files
· Cable and Wire Cutting Tools
· Knives and Blades
· Saws
Layout and Measuring Tools
· Plumb Bob
· Try Square
· Taps and Dies
By End-User
· Commercial
· Industrial
· Residential
European Hand Tools Market Report Segment
· UK
· Germany
· France
· Italy
· Spain
Rest of Europe
Company Profiles
· Beta Utensili S.P.A.
· Corporacion Patricio Echeverria, S.A.
· HAZET-WERK- Hermann Zerver GmbH & Co. KG
· Hultafors Group
· Industrial Technical Tools SpA
· IREGA S.A.
· KNIPEX
· NWS GermanyProduktion W. Nöthen e. K.
· PB Swiss Tools AG
· PILANA A.S.
· Robert Bosch GmbH
· The Würth Group
· WeraWerkzeuge GmbH
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