MENAFN – EIN Presswire: KSA and UAE Hand Tools Market Opportunity Analysis and Forecast, 2027 | Expected to Reach $476.80 Million
WILMINGTON, DE, UNITED STATES, October 22, 2024 /EINPresswire/ — In 2019, the tools storage segment led the KSA and UAE hand tools market, followed by wrenches. This market includes revenue from hand tool sales via wholesalers, retailers, distributors, and e-commerce in KSA and UAE, catering to both individuals and professionals for personal and industrial use.
The 2019 valuation of the KSA and UAE hand tools market was $363.20 million, with a projection of reaching $476.80 million by 2027, growing at a CAGR of 4.7% from 2020 to 2027.
Driving Factors:
Sales to individuals and professionals in construction, automotive, oil & gas, and other sectors are key drivers of the hand tools market. The high cost of power tools is pushing more sales toward hand tools. However, the introduction of affordable power tools may slow down this market’s growth. The COVID-19 pandemic halted construction and manufacturing, affecting hand tool sales, but recovery is expected with the vaccine rollout and growing DIY culture.
Market Segmentation:
The market is categorized by product type (wrenches, pliers, screwdrivers, etc.), sales channel (offline and online), end-user (DIY and commercial), and country (KSA and UAE).
Key Players:
Major companies in the market include Channellock, Snap-on, Stanley Black & Decker, and others, employing strategies like expansion and new product launches to enhance offerings.
Study Highlights:
– Tools storage was the leading revenue segment in 2019.
– Offline sales channels generated the most revenue in 2019.
– The commercial segment was the top revenue generator in 2019.
More Reports:
– Cobblestone Market
– Gardening Equipment Market
About Us:
Allied Market Research (AMR) is based in Wilmington, Delaware, providing high-quality market research and business consulting to enterprises of all sizes to support strategic decision-making and sustainable growth.
Contact: David Correa, Allied Market Research, 800-792-5285, email us here. Follow us on Facebook and X.
Legal Disclaimer:
EIN Presswire presents this news “as is” without guarantees. We claim no responsibility for accuracy or legality in the content. For complaints, contact the author.
`
