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Plier Market Size

Report ID: GMI12516
Published Date: Dec 2024
Report Format: PDF

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Plier Market Size

The global plier market was valued at USD 3.4 billion in 2023 and is estimated to grow at a CAGR of over 4.2% from 2024 to 2032.

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The plier industry falls under the hand tools industry, a subset of the broader tools and hardware sector, which serves diverse applications in construction, automotive repair, electrical work, and general maintenance. Consumer buying decisions for pliers are increasingly influenced by factors such as durability, ergonomic design, specific use-case functionality (e.g., cutting, gripping, crimping), and brand reputation.

Rising demand for professional-grade tools in industrial applications and the DIY culture among homeowners has significantly fueled market growth since the early 2000s, driven by increasing urbanization and infrastructure projects. The market has been further developed through innovation in materials, such as high-carbon and chrome-vanadium steel for added longevity, and enhanced designs for user comfort. E-commerce platforms and localized manufacturing have also contributed to making pliers more accessible globally, while sustainability initiatives are shaping new eco-friendly manufacturing processes.

Plier Market Report Attributes
Report Attribute	Details
Base Year:	2023
Plier Market Size in 2023:	USD 3.4 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	4.2%
2024 – 2032 Value Projection:	USD 4.8 Billion
Historical Data for:	2021 - 2023
No. of Pages:	220
Tables, Charts & Figures:	180
Segments covered:	Product Type, Material, Application, End Use, Distribution Channel and Region
Growth Drivers:	Surge in industrial activities and infrastructure projects Rising vehicle production and the proliferation of electrical devices Growing popularity of do-it-yourself (DIY) projects and home improvement activities
Pitfalls & Challenges:	Fluctuation in the raw material prices Proliferation of counterfeit and low-quality products

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Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The global market size for plier was valued at USD 3.4 billion in 2023 and is expected to reach USD 4.8 billion by 2032, driven by a CAGR of over 4.2% from 2024 to 2032.

Locking pliers accounted for approximately USD 1.5 billion in revenue in 2023 and are projected to grow at a CAGR of around 3.4% from 2024 to 2032, driven by their versatile functionality and high durability.

The U.S. market was valued at USD 700 million in 2023 and is estimated to grow at a CAGR of over 3.6% from 2024 to 2032, driven by its substantial industrial base and robust DIY culture.

Major players in the industry include Akar Tools, Apex Tool Group, CHISEN Tools, Klein Tools, Knipex Tools, Lisle Corp, MARUTO HASEGAWA KOSAKUJO, Park Tool, Rennsteig Werkzeuge, Snap-on, Stanley Black & Decker, Taparia Tools, TOP KOGYO, TOPTUL, and Tsunoda Corporation.