Chicago, Sept. 28, 2022 (GLOBE NEWSWIRE) — According to the latest research report from Arizton, the U.S. hand tool market is expected to grow at a CAGR of approximately 4% during the period 2022-2027. The construction industry in the United States is one of the largest in the world, with annual expenditures of over $1.2 trillion. Construction projects are underway in all major regions of the country, creating high growth potential for the construction industry and its related industries during the forecast period. The demand for hand tools, such as hand files, is heavily influenced by the construction and renovation industry, as well as the growing construction activities in the country. This should drive demand for American hand tools.
Scope of the U.S. Hand File Tools Market Report
|MARKET SIZE (2027)||$96.28 million|
|MARKET SIZE (2021)||$77.34 million|
|YEAR OF REFERENCE||2021|
|MARKET SEGMENTS||File type, machinist files, saw files, application and cutting degrees|
|GEOGRAPHICAL ANALYSIS||The United States (California, Michigan, Oregon, Alabama and Washington)|
|PARTICIPANT COVERAGE||3 key suppliers and 16 other important suppliers|
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The hand file market is expected to grow in the coming years owing to the growing number of industries and manufacturing facilities. It is difficult to produce a part or component in the automotive industry without hand files, as it can be difficult to work on handicrafts without file equipment. For example, it is imperative to use the correct file with the correct shape, size and coarseness to achieve the required results. Property renovations are growing in popularity as developed countries with higher disposable income and emerging countries see an increase in demand for hand files.
In 2019, North America also accounted for 52.2% of global aerospace parts manufacturing. This was further fueled by the fact that there was an increase in people’s purchasing power. Therefore, there has been an improvement in the choice of travel demand. This has also been fueled since low cost carriers were introduced by airlines. This implies that the need to manufacture aircraft will only increase. This scenario is expected to remain constant throughout the forecast period due to increasing air traffic in the region. The new aircraft built with precision parts will use hand tools, such as files, to improve overall productivity. It is expected to increase the growth of the hand file tools market.
Also, there has been an increase in the number of people engaging in DIY activities that require a lot of hand tools, such as files, which are one of the most important tools for shaping, scraping and finishing with precision the article. . When the pandemic situation improved and people wanted to see a change in their surroundings, the demand for interior design increased, eventually leading to an increase in the demand for hand tools and filing equipment on the market.
- The machinist files segment holds the largest market share of approximately 47.12% of all other hand file tool categories.
- The US Saw Type Hand Files Market was estimated at $22.43 in 2021 and is projected to grow at a CAGR of 4.56% and reach $29.32 Million by 2027.
- The saw type file segment holds the 2nd largest market share of approximately 29% of all other hand file tool categories.
- Hand file tools can be categorized into metal and wood files. Although the files don’t differ much in appearance, there are still distinct characteristics separating wood files from metal files.
- Metalwork occupies the largest share of about 68.12%, and wood files occupy about 31.88% when it comes to the application of hand file tools.
- Stanley Black & Decker
- Snap On Incorporated
- Apex Tool Group (ATG)
Other Important Suppliers
- ICS cutting tools
- United Kingdom
- Remax tools
- Falcon Tool Company
- Texas WoodWorld
- Ampco Safety Tools
- Western States Hardware, Inc.
- Intercon USA Inc.
- EMR Company
- Genius Tools USA
- Warrensville file and knife
- AVEN SAFETY TOOLS
- Federal File Co.
- McKeever/Wiltshire File Company
- Machinist files
- saw files
- Flat and hand files
- Round files
- Half round files
- Square files
- Triangle files
- Tapered files
- chainsaw file
- mill file
- Bastard cut
- second cut
- Smooth cut
- United States
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