Report Overview

GCC Household Hand Tools Market - Industry Trends & Forecast Report, 2029

GCC household hand tools market size was estimated to be worth USD 691.63 million in 2022. During the forecast period between 2023 and 2029, the GCC household hand tools market size is projected to grow at a CAGR of 3.51%, reaching a value of USD 850.47 million by 2029. Major growth factors for the GCC household hand tools market include a rising focus on home improvements and the high cost of skilled labor, which directly influences the consumer demand for household hand tools to DIY their household repairs.

GCC Household Hand Tools Market – Overview

A hand tool is any tool that is used manually as opposed to using a motor. Hammers, pliers, wrenches, and screwdrivers are a few examples of different hand tools. Each of these has a varied usage depending on needs, and the majority are not interchangeable. These instruments are typically utilized in applications including building, plumbing, carpentry, gardening, agriculture, and vehicle repair. Investing in the proper equipment for the house will help finish projects quickly and economically. Additionally, it will be able to handle small problems that do not need a professional to fix them.

GCC Household Hand Tools Market

Growth Drivers

Increasing Demand for DIY Repairs and Maintenance

Household hand tools are extensively used for everyday repair and maintenance of houses as well as household appliances. The ease of these tools in self-assembling and disassembling furniture is the main driver boosting demand for hand tools. The rising disposable income of the GCC residents is directly influencing the demand for houses and furniture, which is anticipated to fuel the demand for household hand tools in the market. Furthermore, the high cost of skilled labor in the region makes the consumers reluctant to opt for their services, which also plays a crucial factor in driving the GCC household hand tools market.

Restraints

Increasing Penetration of Electrical Tools

The tool developers and manufacturers are increasingly integrating technologies such as AI and IoT into tools to improve their efficiency and for easy handling of repairs. Furthermore, the launch of multifunctional tools to reduce the force and time required for the operations may limit the demand for household hand tools as electrical tools are gaining popularity among the younger demographic. This shift towards AI and IoT-equipped tools may limit the GCC household hand tools market during the forecast period.

Impact of COVID-19 on GCC Household Hand Tools Market

The COVID-19 pandemic outbreak had a mixed impact on the GCC household hand tools market. The market witnessed significant growth in the demand for household hand tools due to the unavailability of skilled labor for regular repair and maintenance of homes. However, since hand tools were flagged as non-essential items, the restrictions on its supply chain directly impacted the market growth. But the pandemic prompted industry players to shift towards online platforms to establish D2C channels and offer the convenience of doorstep delivery to their customers, which is anticipated to drive the GCC household hand tools market during the forecast period.

GCC Household Hand Tools Market

Segmental Coverage

GCC Household Hand Tools Market – By Product

Based on product, the GCC household hand tools market is segmented into cutting tools, measuring tools, taps & dies, and general tools. The general hand tools segment accounts for the largest market share. Tools, such as hammers, pliers, screwdrivers, wrenches, and others, are for general repair and maintenance. Furthermore, rising house ownership in GCC countries, particularly in Saudi Arabia and UAE, is anticipated to fuel the market demand for general tools during the forecast period.

GCC Household Hand Tools Market – By Distribution Channel

Based on distribution channel, the GCC household hand tools market is segmented into retail channels and online. Retail channel dominates the GCC household hand tools market as supermarkets/hypermarkets and other retail stores offer a wide range of tools at convenient prices. However, the online channel is projected to register the highest growth rate during the forecast period as a result of rising internet penetration and the growing popularity of e-commerce websites, such as Amazon and Noon.

Competitive Landscape

Major players operating in the GCC household hand tools market include Stanley Black & Decker, Apex Tool Group, Klein Tools, Channellock, Great Wall Precision, JK Files (India) Limited, JETECH, Excelta Corporation, Sinotools Industrial, and Techtronic Industries. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Product

• Cutting Tools

• Measuring Tools

• Taps & Dies

• General Tools

By Distribution Channel

• Retail Channels

• Online

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. GCC Household Hand Tools Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increased Demand for Household Hand Tools for DIY Projects and Home Improvement.
         2. Expanding Population and Urbanization, Driving the Need for Household Hand Tools for Maintenance and Repair Tasks.
      2. Restraints
         1. Economic Uncertainties or Fluctuations
         2. Availability of Cheaper and Low-quality Imported Hand Tools
      3. Opportunities
         1. Technological Advancements Leading to the Development of Innovative and Efficient Hand Tools.
         2. E-commerce Platforms Providing a Broader Reach to Customers and Facilitating Online Sales of Household Hand Tools.
      4. Challenges
         1. Intense Competition from Established Global and Regional Players in the Hand Tools Market.
         2. Counterfeit Products Affecting the Reputation of Genuine Brands and Reducing Consumer Trust.
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. GCC Household Hand Tools Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
         1. Cutting Tools
         2. Measuring Tools
         3. Taps & Dies
         4. General Tools
      2. By Distribution Channel
         1. Retail Channels
         2. Online
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. GCC Household Hand Tools Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid–19 on GCC Household Hand Tools Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Stanley Black & Decker
   2. Apex Tool Group
   3. Klein Tools
   4. Channellock
   5. Great Wall Precision
   6. JK Files (India) Limited
   7. JETECH
   8. Excelta Corporation
   9. Sinotools Industrial
   10. Techtronic Industries
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.  Breakdown of Primary Research Respondents, By Region
   5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       GCC Household Hand Tools Segmentation    

Figure 2       GCC Household Hand Tools Market Value Chain Analysis  

Figure 3       Company Market Share Analysis, 2022

Figure 4       GCC Household Hand Tools Market Size, By Value (USD Million), 2019–2029 

Figure 5       GCC Household Hand Tools Market Share, By Product, By Value, 2019–2029 

Figure 6       GCC Household Hand Tools Market Share, By Distribution Channel, By Value, 2019–2029 

List of Tables

Table 1        GCC Household Hand Tools Market Size, By Value (USD Million), 2019–2029

Table 2        GCC Household Hand Tools Market Size, By Product, By Value, 2019–2029

Table 3        GCC Household Hand Tools Market Size, By Distribution Channel, By Value, 2019–2029

Table 4        Stanley Black & Decker Company Overview

Table 5        Stanley Black & Decker Financial Overview

Table 6        Apex Tool Group Company Overview

Table 7        Apex Tool Group Financial Overview

Table 8        Klein Tools Company Overview

Table 9        Klein Tools Financial Overview

Table 10      Channellock Company Overview

Table 11      Channellock Financial Overview

Table 12      Great Wall Precision Company Overview

Table 13      Great Wall Precision Financial Overview

Table 14      JK Files (India) Limited Company Overview

Table 15      JK Files (India) Limited Financial Overview

Table 16      JETECH Company Overview

Table 17      JETECH Financial Overview

Table 18      Excelta Corporation Company Overview

Table 19      Excelta Corporation Financial Overview

Table 20      Sinotools Industrial Company Overview

Table 21      Sinotools Industrial Financial Overview

Table 22      Techtronic Industries Company Overview

Table 23      Techtronic Industries Financial Overview

Table 24      Other Prominent Players Company Overview

Table 25      Other Prominent Players Financial Overview