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Striking Tools Market Size

Report ID: GMI12529
Published Date: Dec 2024
Report Format: PDF

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Striking Tools Market Size

The global striking tools market 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.

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The global market for striking tools is set to grow significantly, driven by rising DIY and home improvement projects, booming construction and infrastructure, expanding automotive and aerospace industries, technological advancements, and increased maintenance, repair, and overhaul (MRO) activities. Millennials and Gen Z are fueling demand for striking tools through DIY projects and home improvements. Investments in basic hand tools for household repairs and renovations are on the rise. Rapid urbanization, industrialization, and population growth are boosting construction projects, increasing the need for tools like hammers, mallets, and chisels.

Striking Tools Market Report Attributes
Report Attribute	Details
Base Year:	2023
Striking Tools Market Size in 2023:	USD 1.5 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	4.3%
2032 Value Projection:	USD 2.2 Billion
Historical Data for:	2021 - 2023
No. of Pages:	220
Tables, Charts & Figures:	180
Segments covered:	Product Type, Material, Price, End User, Distribution Channel and Region
Growth Drivers:	Rising DIY and home improvement projects Booming construction and infrastructure
Pitfalls & Challenges:	Competition from power tools Counterfeit and low-quality products

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Furthermore, advanced striking tools, which are lighter, more durable, and ergonomically designed, are driving market growth. Innovations such as vibration-reducing technology, anti-slip grips, and multifunctional tools attract both consumers and professionals. As industries like energy, utilities, and machinery manufacturing expand, the need for MRO activities grows, further increasing demand for striking tools. Additionally, these tools are used in outdoor sports, woodworking, landscaping, and outdoor furniture assembly, with the rising popularity of outdoor activities contributing to demand in specific market segments.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market size for striking tools was valued at USD 1.5 billion in 2023 and is expected to reach USD 2.2 billion by 2032, driven by a CAGR of over 4.3% from 2024 to 2032.

The hammers segment accounted for approximately USD 600 million in revenue in 2023 and is projected to grow at a CAGR of around 4.8% from 2024 to 2032, driven by the demand for ergonomic and multi-purpose hammers.

The U.S. market was valued at USD 380 million in 2023 and is expected to grow at a CAGR of over 4.5% from 2024 to 2032, driven by the booming construction and infrastructure sectors and increased DIY activities.

Major players in the industry include Crescent Tools, Estwing, Fiskars, Gedore, Husky Tools, Kendo Tools, Klein Tools, Milwaukee Tool, Peddinghaus, Proto, Roughneck Tools, Snap-on Tools, Stanley Black & Decker, and Tajima Tools.