Global Hand and Power Tools Market 2016: Industry Growth, Research, Future Outlook to 2021
Hand and power tools are those instruments deployed in various mechanical tasks like cutting, carving, ploughing, drilling etc. Hand tools are mechanically hand driven and require no power or energy for their operation whereas power tools are either electrically driven or air driven. Hand and power tools are generally used in almost every industry including manufacturing, gardening, healthcare among others. Various safety concerns related to the use of hand and power tools are kept in mind while their use. Some examples of hand and power tools are rakes, hammers, spanners, chisels, screwdrivers, garden forks, sanders, drills, wrenches, saw, grinders etc.
Hand and power tools market is at a growing age currently due to increase in use of hand and power tools in do it yourself activities. Moreover, major factors driving the world hand tools market include increase demand from automotive maintenance and repair sector along with advancements in the production technology of hand and power tools. Also, increasing use of hand and power tools in industrial applications is another factor driving the overall market. However, low profit margin due to acute competition and lack of skilled professionals are some key challenges restraining the growth of the world hand and power tools market.