Striking Tools Market Size - By Product Type, By Material, By Price, By End User, By Distribution Channel Analysis, Share, Growth Forecast, 2024 - 2032

Striking Tools Market Size

The global striking tools market size was valued at USD 1.5 billion in 2023 and is estimated to grow at a CAGR of over 4.3% from 2024 to 2032. The growth of construction and infrastructure, automotive and aerospace, coupled with growth in the maintenance, repair, and overhaul (MRO) business have expanded the opportunities for global markets for striking tools.
 

Demand for DIY and home improvement tools, which are being fueled across the world by the millennials and Gen Z, is another major factor driving the growth of striking tools market. Furthermore, easy availability and affordability of hand tools is facilitating the growth of basic hand tools market. Urbanization and industrialization growth along with the increase in population will increase construction activities increasing the demand for hand tools such as mallets, chisels and hammers.
 

In addition, the development of advanced striking tools that are lightweight, durable and ergonomically designed is one of the key factors contributing to the growth of the MRO tools market. Reduction of vibrations, anti-slip grips, multifunctional tools, and many more is captivating both consumers and professionals. With the booming of energy, utility, and machinery manufacturing sectors, there comes a need for MRO tasks thus driving the growth for striking tools. In addition, these tools are being used in outdoor sports, woodworking, landscaping and assembly of outdoor furniture, the growing trend of outdoor activities aids in driving demand in some parts of the market.    

Striking Tools Market Trends

• Some of the notable trends include shifting in consumer preferences, rapid technological advancements as well as higher industrial needs which have been acting as factors shaping the MRO tools market. There is a notable increase in demand for tools that are well ergonomically designed to reduce fatigue and enhance comfort when in use.
   
• Cushioned handles, vibration dampening features and balanced designing options are becoming popular among the construction, automotive and industrial professionals. Adding to that, there is a general trend towards multifunctional tools which include hammers with interchangeable heads or combined hammer and bar tools. By using these versatile tools, there is space saving as well as eliminating the carrying of many other instruments.
   
• In addition, manufacturers are capitalizing on modern technologies by employing carbon fibres, sturdy alloys, and composite materials in the construction of their striking tools. This makes the tools stronger and lighter which appeals to professionals and amateurs alike. Hand tools are now incorporating smart technology as well. Some tools are equipped with sensors that monitor how frequently they are used or remind the user when they need servicing, especially in the case of expensive tools that are used in industrial and professional environments.
   

Striking Tools Market Analysis

• The market of striking tools is progressively expanding however, is still met with challenges such as fluctuating raw material prices, advancing competition by power tools, knock off products and shifts in technology. Such tools include striking tools which are constructed out of steel, aluminium, rubber, and plastic. Global events, trade wars and lack of resources contribute to increasing production costs which in turn lower the profit margins.
   
• Moreover, the industrialization regarding constructions and mechanical applications has resulted in an increase in competition among striking tools and power tools which has decreased the former’s demand.
   
• The existence of counterfeit striking tools and substandard brands stains the reputation of already established companies and discourages the purchase of hand tools. Moreover, these tools not only hurt the market's worth but also the shift from branded to unbranded products has a negative effect on market value.
   

The striking tools market from hammers segment was reached USD 600 million in 2023 and is anticipated to reach a CAGR of 4.8% till 2032.
 

• Hammers of the modern age are equipped with handles with special designs aimed at fatigue reduction and vibrations when using heavy or oversized hammers. The handles come with rubberized grips and shock absorbers which are widely used in construction and woodwork.
   
• Multi-style hammers which have heads that can swivel, and change is useful because of their flexibility. Handles made of fiberglass, composites, and sometimes titanium assist in retaining durability while being light enough that size is not an issue.
   
• Additionally, there is a considerable market for picks and axes in the landscaping, mining and construction sectors. In civil engineering projects, rock picks and digging axes are required to carry out excavation and break hard surfaces.
   
• Picks and axes are becoming more specialized, whether for use in mining, and tree felling or roadwork. There is a market increase for tools with advanced and reinforced heads in harsh environments.
   

The professionals segment held 44% share of the striking tools market in 2023 and will continue to grow at an average of 4.7% CAGR from 2024 to 2032.
 

• These professionals commonly use striking tools over a long period of time. Ergonomic features which mitigate hand strain and anti-vibration features are in demand for such tools. Tools with rubberized non-slip grips and shock absorbing handles are effective for comfort and injury prevention. This trend enhances their work accuracy and productivity.
   
• Above all, the increase in DIY home improvement projects, especially among millennials and Gen Z, brings about the necessity for tools. These tools are used by homeowners for home repairs, furniture building, gardening and even small renovations.
   
• More stores stocking up on striking tools, as well as the online availability of these tools, means that they are becoming more accessible. Investments in e commerce by brands are aimed at making life easier and ensuring alternative competitive prices.
      

The U.S. striking tools market size exceeded USD 380 million in 2023 and is anticipated to expand at a rate of 4.5% through 2032.
 

• The growth of the construction and infrastructure market would propel U.S. raw materials tapping tools because of increased DIY’s and home improvements, technological evolution, and other professional sectors.
   
• The construction, road work, and demolition tools are in demand because of Government programs such as the Infrastructure Investment and Jobs Act.
   
• The outbreak led to an increase in do-it-yourself home improvement projects among homeowners which includes a multitude of repairs, renovations, landscaping, and even furniture building. Hence more tools like hammers, chisels, and mallets were needed. Interchangeable hammer heads, rubber and wooden mallets, and chisel tips are becoming more popular as multi-functional striking tools. Space saving solutions which are also more versatile appeal both to DIY enthusiasts and professionals.
   

North America: US has a whopping market share of 79% in the North American striking tools market. Rising demand for construction and infrastructure services combined with a growing DIY culture is set to position the US as a strong competitor. Furthermore, US markets can also look forward to rising professional demand and coming technological advancements which will help the sector.
 

Canada on the other hand is looking at a 4.2% growth in the striking tools market from 2024 till 2032. Increased government funding and investment into private infrastructure is taking acceleration of this growth. This investment is coupled with growing urban areas, an increase in house building and an expansion into commercial real estate which will only fuel the growth.
 

Europe: Holding around 25% of the share in the balance market, the European striking tools market is expected to grow with a CAGR of 4.1% which further begets more growth from 2024 to 2032. European markets are seeing construction and infrastructure development on a large scale, e-commerce is more easily accessible than ever while technological advancements have allowed for improved tools. All these ever-changing factors are a sure way for these markets to expand.
 

Germany is also expected to come out with a great market growth of around 4.9% within the time span of 2024 to 2032 translating to utmost 2023. Germany has a DIY culture which necessitates the use of hammers, chisels, axes, and mallets which is significantly increasing the union of striking tools.
 

Asia Pacific: As a result of a growing middle class, the disposable incomes are increasing leading to a demand for striking tools. The striking tools market in the Asia Pacific sustains a growth rate of 4.7% per annum with a forecasted market share of 29% as it sees an increase in industrialization, urbanization, a construction boom, and a rise in DIY activities, technological progress and employee safety measures.
 

China with an increasing disposable income and middle-class fuel demand for furniture assembly, and other such activities the DIY trend gains momentum and cross 32% market share for striking tools in the Asia Pacific region in 2023.
 

Striking Tools Market Share

The market share of many companies such as Crescent Tools, Klein Tools, Gedore, Milwaukee Tool and Estwing actively engages in activities like mergers and acquisitions and facility expansions and collaborations allowing them to enhance their market power.
 

In 2023, these companies will have a market percentage ranging from 10% to 15% Market. Due to the fact that there are so many different manufacturers, they heavily rely on brand and customer loyalty in order to succeed in the market. Industrial users and professionals prefer reputable brands such as Estwing, DeWalt, and Stanley however in order to establish themselves in a fragmented market, manufacturers incorporate technologies into their tools to make them more functional and durable, which then makes them highly competitive.
 

Striking Tools Market Companies

Major players operating in the striking tools industry are:

• Crescent Tools
• Estwing
• Fiskars
• Gedore
• Husky Tools
• Kendo Tools
• Klein Tools
• Milwaukee Tool
• Peddinghaus
• Proto
• Roughneck Tools
• Snap-on Tools
• Stanley Black & Decker
• Tajima Tools
• Vaughan 
   

Striking Tools Industry News

• In November 2023, Gedore presented the KL 4600 - 200 trolley for high voltage operations and it comes with a Hand trolley. It is specifically made to be used with electric and hybrid cars, enhancing safety together with efficiency. The trolley contains 103 high quality VDW tools and accessories for use within the automotive industry. It facilitates support and maintenance services for all manufacturers of hybrid and electric vehicles, providing the workshops with maximum flexibility.
   

This striking tools market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) & volume (Thousand Units) from 2021 to 2032, for the following segments:

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Market, By Product Type

• Hammers
• Picks and axes
• Mallets
• Chisels and punches
• Diggers
• Others (tampers etc.)

Market, By Material

• Steel
• Wood
• Fiberglass
• Plastic
• Aluminum
• Others (composite materials etc.)

Market, By Price

• Low
• Medium
• High

Market, By End Use

• DIY and homeowners
• Professionals
• Industrial
  • Construction
  • Automotive
  • Manufacturing and metalworking
  • Others (woodworking etc.)    

Market, By Distribution Channel

• Online
  • Company websites 
  • E-commerce
• Offline
  • Supermarkets/hypermarkets
  • Specialty stores
  • Others (home improvement stores etc.)   

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa