The global woodworking tools market revenue was around US$ 9.2 billion in 2022 and is estimated to reach US$ 12.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 3.9% during the forecast period from 2023 to 2031.
Woodworking tools are equipment that are manually operated in oil & gas, construction, automobile, and various other sectors for carpentry, plumbing, servicing, and maintenance purposes. These tools are utilized by people and commercial experts. These woodworking tools are sold through retail outlets, wholesalers, authorized dealers, e-commerce websites, and company websites.
Market Driving Factors
Woodworking tools products witnessed a higher demand, due to their durability and availability at less price. Moreover, advances such as the introduction of woodworking tools with insulated layers, safeguard the user from electric shock and provide a handle grip for holding the tool. Therefore, these factors are predicted to drive the market growth.
Surging commercial, residential construction, and infrastructure projects are predicted to boost the market. Across the world, the demand for infrastructural development and immediate urbanization can be seen surging rapidly. In addition, governments from all significant nations can be seen making efforts toward infrastructural development and making essential investments in the sector to facilitate such developments. As a result, these infrastructural development projects include projects dealing with the development of railways, roads, energy, airports, utilities, and residential and commercial buildings.
A halt in transportation services has resulted in a halt in woodworking tool sales overall, which has hampered the market expansion.
Regional Analysis
North America dominated the market in terms of the growth rate. This can be attributed to the robust existence of woodworking industries and a large base of woodworking enthusiasts in the region. For instance, according to the U.S. Bureau of Labour Statistics, in May 2022, the median yearly salary for woodworkers was US$ 37,590.
Asia-Pacific is estimated to dominate the market in terms of rapid growth. This is primarily due to the infrastructure development and surging consumer spending on house improvement projects.
Segmentation Insights
Distribution Channel Insight
The online segment is estimated to dominate the market in terms of the fastest rate. This is mainly due to this segment can be seen altering the way consumers shop. They are offering customers multiple additional advantages such as door-to-door delivery of products and offers an online display of a vast variety of products and brands to select from via their online e-commerce platforms. As a result, several third-party distributors sell tools on the online platforms. This aids the consumers in evaluating, comparing, studying, and selecting the best suitable tool.
End User Insight
The professional segment is predicted to dominate the market in terms of the largest shares. This is mainly due to the professional applications such as electrification, plumbing, and carpentry have registered robust growth due to the increasing population and infrastructural development globally. In addition, growth in other industries, such as automotive, oil & gas, electronics, energy, aerospace, shipbuilding, and mining also contribute to the segment growth.
Prominent Companies
Segmentation Outline
The global woodworking tools market segmentation focuses on the Type, Distribution Channel, Operation, End User, and Region.
By Type
By Distribution Channel
By Operation
By End User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL WOODWORKING TOOLS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: WOODWORKING TOOLS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL WOODWORKING TOOLS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL WOODWORKING TOOLS MARKET, BY TYPE
5.1 OVERVIEW
5.2 CHISELS
5.3 HAMMERS
5.4 SAWS
5.5 PLIERS & WRENCHES
5.6 DRILLS
5.7 OTHERS
6 GLOBAL WOODWORKING TOOLS MARKET, BY DISTRIBUTION CHANNEL
6.1 OVERVIEW
6.2 ONLINE
6.3 OFFLINE
7 GLOBAL WOODWORKING TOOLS MARKET, BY OPERATION
7.1 OVERVIEW
7.2 MANUAL
7.3 POWERED
8 GLOBAL WOODWORKING TOOLS MARKET, BY END USER
8.1 OVERVIEW
8.2 PROFESSIONAL
8.3 DIY
9 GLOBAL WOODWORKING TOOLS MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL WOODWORKING TOOLS MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 ROBERT BOSCH
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 JCBL INDIA
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 APEX TOOL GROUP
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 EMERSON ELECTRIC CO.
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 KLEIN TOOLS INC
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 TECHTRONIC INDUSTRIES CO. LTD
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 STANLEY BLACK AND DECKER
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8 C&A HARDWARE TOOLS CO. LTD
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 WERA TOOLS
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 SNAP-ON INCORPORATED
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 MAKITA
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 KREG TOOL COMPANY
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 ALTENDORF GMBH
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 CHANNELLOCK INC.
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 MILWAUKEE
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.16 AKAR TOOLS LIMITED
11.16.1 OVERVIEW
11.16.2 FINANCIAL PERFORMANCE
11.16.3 PRODUCT OUTLOOK
11.16.4 KEY DEVELOPMENTS
11.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.17 RIDGID
11.17.1 OVERVIEW
11.17.2 FINANCIAL PERFORMANCE
11.17.3 PRODUCT OUTLOOK
11.17.4 KEY DEVELOPMENTS
11.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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