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Tool Storage Products Market Trends

Report ID: GMI12138
Published Date: Nov 2024
Report Format: PDF

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Tool Storage Products Market Trends

The increasing popularity of outdoor activities and home improvement projects is driving demand for specialized tool storage products. With more people engaging in gardening, woodworking, and other outdoor hobbies, there is a need for storage solutions that cater specifically to these tools and equipment. Products designed for outdoor use, featuring weather-resistant materials and portable designs, are becoming more prevalent. This trend reflects a broader shift towards hands-on activities and craftsmanship, highlighting the importance of versatile and durable storage options that can withstand various conditions.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for tool storage products was reached USD 1.7 billion in 2023 and is estimated to grow at a 4.5% CAGR from 2024 to 2032, driven by the rise of the DIY culture.

The portable tool boxes segment recorded USD 700 million in 2023 and is expected to grow at a 4.7% CAGR from 2024 to 2032, due to the increasing number of DIY projects and home improvement activities.

The metal segment held around 61% share of the tool storage products market in 2023 and is anticipated to grow at a 4.7% CAGR from 2024 to 2032, driven by their durability and strength.

The U.S. tool storage products market dominated with an 82% share in 2023 and is expected to grow, owing to the ongoing urban development and a steady rise in housing construction.

Key players in the industry include Apollo Tools, Bosch, DeWalt, GearWrench, Husky, Husqvarna, Irwin Tools, Kobalt, Makita, Milwaukee Tool, RIDGID, Snap-on, Stalwart, Stanley Black & Decker, and Veto Pro Pac.