Striking Tools Market Size, Share, Growth, and Industry Analysis, By Type (Hammers, Hatchets, and Mallets), By Application (Household, Commercial, and Public), Regional Insights and Forecast to 2031

Updated On: 22 April 2024

STRIKING TOOLS MARKET REPORT OVERVIEW

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The global striking tools market size was USD 1289.9 million in 2022 and the market is projected to touch USD 1545.5 million by 2028, exhibiting a CAGR of 3.1% during the forecast period.

Striking tools are a category of hand tools designed for delivering force to another object, typically to deform, shape, or manipulate materials. These tools are widely used in various industries, construction, and maintenance tasks. Hammers, with their varied designs such as ball peen, claw, or framing hammers, are versatile tools used for driving nails, shaping metal, or breaking objects. Mallets, on the other hand, have softer heads and are often used when a softer impact is required, such as in woodworking to avoid damaging delicate surfaces. Sledgehammers are heavy-duty striking tools with large heads, suitable for tasks that require significant force, like breaking concrete or driving stakes.

Precision and safety are crucial aspects of using striking tools effectively. Proper technique, appropriate tool selection, and safety gear, such as goggles and gloves, are essential for minimizing the risk of accidents or injuries. Additionally, regular maintenance of striking tools, including checking for wear and tear, ensures their longevity and optimal performance, contributing to a safer and more efficient work environment.

COVID-19 Impact: Market Growth Hampered by Pandemic due to Economic Uncertainties

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had various impacts on industries, including those related to striking tools and the broader field of construction and manufacturing. The pandemic disrupted global supply chains, causing shortages of raw materials and delays in production. This led to challenges in the availability and pricing of striking tools as manufacturers faced difficulties in sourcing materials and components. Lockdowns and restrictions on movement also affected workforce availability, impacting manufacturing capacities and distribution networks.

Additionally, workplace safety measures implemented in response to the pandemic affected how striking tools were used. Social distancing and hygiene protocols influenced how construction and manufacturing activities were conducted, impacting the collaborative nature of these industries. The emphasis on worker safety led to a greater focus on tool maintenance, sanitation, and the adoption of safety protocols to reduce the risk of transmission.The global striking tools market growth is anticipated to boost following the pandemic.

LATEST TRENDS

"Ergonomic Design to Drive Market Growth"

Continued focus on ergonomic design is expected, with the goal of creating striking tools that are comfortable to use for extended periods. This may include improvements in grip design, handle materials, and vibration reduction technologies. The integration of technology into hand tools is a growing trend. Smart features, such as sensors for impact measurement, Bluetooth connectivity for tracking and monitoring tool usage, and other data-driven functionalities, might find their way into striking tools.

Manufacturers are likely exploring new materials and alloys to enhance the durability, strength, and overall performance of striking tools. Lightweight yet durable materials may become more prevalent, reducing user fatigue and improving efficiency. Ongoing efforts to enhance safety features in striking tools may lead to innovations that minimize the risk of accidents and injuries. This could include advancements in impact-resistant materials, improved shock absorption, and better protection mechanisms for users.

STRIKING TOOLS MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into Hammers, Hatchets, and Mallets.

Hammers: Hammers are versatile hand tools designed for delivering an impact to an object. They typically consist of a handle and a head, with the head featuring a striking surface on one side. Hammers are used for various applications, including driving nails, shaping metal, and breaking objects.

Hatchets: A hatchet is a small, single-handed axe with a short handle. It is designed for one-handed use and is commonly used for tasks such as chopping small pieces of wood, trimming branches, or splitting kindling. Hatchets are compact and portable, making them suitable for outdoor activities like camping and hiking.

Mallets: Mallets are hand tools with a handle and a large, typically rubber, plastic, or wooden head. Unlike hammers, mallets have softer heads to prevent damage to delicate surfaces. They are commonly used in woodworking and carpentry for tasks such as driving chisels or assembling joinery.

• By Application

Based on application the global market can be categorized into Household, Commercial, and Public.

Household: Household refers to the environment and activities associated with a private residence or family. It encompasses the space where individuals or a family live and carry out daily routines.

Commercial: Commercial relates to activities, spaces, or entities that are involved in business, trade, or the exchange of goods and services for profit. Commercial settings are places where business transactions occur.

Public: Public refers to spaces, services, or entities that are open and accessible to the general population. These areas are typically not privately owned and cater to the needs and interests of the public.

DRIVING FACTORS

"Industrial Activities to Boost the Market"

Economic growth and industrial expansion contribute to increased demand for striking tools in manufacturing and assembly lines. Striking tools play a crucial role in various manufacturing and industrial processes, from shaping metal to assembly tasks. Growth in construction activities, whether residential, commercial, or infrastructure, directly increases the demand for striking tools. Striking tools are integral in construction and infrastructure projects for tasks such as framing, nailing, and demolishing.

"Home Improvement Trends to Expand the Market"

Homeowners and hobbyists contribute to the market as they invest in striking tools for personal use. With a rise in do-it-yourself (DIY) and home improvement projects, striking tools are in demand for tasks like woodworking, remodeling, and small construction projects. Regular maintenance needs, both in industrial settings and for everyday use, drive the ongoing demand for striking tools. Striking tools are essential for maintenance and repair work across various industries and in household settings.

RESTRAINING FACTOR

"Economic Downturns to Potentially Impede Market Growth"

Unpredictable increases in raw material costs can impact production costs, potentially leading to higher prices for striking tools or reduced profit margins for manufacturers. Striking tools are often made from metals and other materials whose prices can be volatile. Decreased investment in construction and infrastructure projects can negatively affect the market for striking tools. During economic downturns, construction and industrial activities often decline, leading to reduced demand for striking tools.

STRIKING TOOLS MARKET REGIONAL INSIGHTS

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"North America Region Dominating the Market due to Technological Innovations "

The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America has emerged as the most dominant region in the global striking tools market share due to several factors. The presence of robust manufacturing and industrial sectors creates a strong demand for tools and equipment, including striking tools. North America experiences continual construction and infrastructure development, contributing to the demand for striking tools. Large-scale projects such as residential construction, commercial developments, and infrastructure upgrades drive the need for a variety of tools, including those for striking.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The striking tools market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Fiskars [Finland]
• Powerbuilt Tools [U.S.]
• Bon Tool [U.S.]
• Coulee Hardware [U.S.]
• Grainger [U.S.]

INDUSTRIAL DEVELOPMENT

October 2023: Estwing Manufacturing Company took significant strives ahead in the striking tools market. They recently developed Claw Hammer. Estwing Manufacturing Company is known for producing a variety of striking tools, and one of their well-known products is the Claw Hammer. Estwing hammers are recognized for their durable construction, featuring a forged steel head and a patented shock reduction grip designed to reduce vibrations during use. The claw hammer, with its curved claw for nail pulling and a smooth face for driving nails, is a versatile tool widely used in construction and carpentry.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.