Tool Hammer Market to register a healthy CAGR for the forecast period, 2018-2028

Posted by vakhas on January 15th, 2019

Introduction

Since ancient times, human’s ability to solve problems have sparked useful tool innovations. Hammer is a striking tool with a metal head fixed to a handle. Although automation and technological advancements have eased the earlier from of tools, tool hammer is still largely used across the world. Tool hammer is important for carrying out several tasks ranging from home gardening to extracting mineral from the earth. It is intended to deliver an impact to an object, particularly to break it apart, beat it into specific shape, or drive the object into another. Tool hammer has many hard-hitting advantages and is a tool of choice for carpenters, trade professionals and DIY enthusiasts.

There are several types of tool hammer varying in shape, size and structure, depending on its application. Claw hammer is one of the most common types, which is often deployed by carpenters to hit and extract the nails as well. Tool hammer also finds application in industrial sector, largely used in the manufacturing of products, construction, renovation activities, and for maintenance purposes. It costs relatively low as compared to its powered variants and can effectively perform home repairs, aid in building furniture, and other functions in various industries.

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Dynamics

Increasing demand for hand tools in household activities and rapid penetration of DIY trends in the recent years are likely to drive the tool hammer market. Growing number of manufacturing plants and industries is estimated to escalate the demand for tool hammer wherein it is used for maintenance purposes. In addition, tool hammer is gaining increasing demand from automotive repair and maintenance sector which is anticipated to propel the market growth. Tool hammer market is foreseen to witness a significant growth in the coming years with increasing number of people delving into home improvement and home projects.

Product innovations are readily adopted into the market, and continued efforts of manufacturers to improve the efficiency of their product to suit preferences of different customers may create potential growth prospects of the tool hammer market. Growing need for tool hammer on the coattails of increasing industrialization along with rising demand from construction industry and household applications is expected to augur well with market growth. Increase in the demand for wooden furniture will continue to remain a key driving factor of the tool hammer market. Emerging trends of DIY and remodeling activities will possibly contribute to growth of tool hammer market in the near future. In addition, increasing awareness among customers about online sales for tool hammer is expected to positively impact the market growth.