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GIA initiates research coverage on the global Hand Tools and Accessories market, as part of its ongoing multiple research projects on diverse industries and markets. The soon to be released report identifies growing popularity of do-it-yourself home improvement among homeowners, thoughtful development of ergonomically designed, easy-to-use tools, and robust construction and automotive industries, as primary growth drivers in the market.
San Jose, California (PRWEB) July 18, 2014
Follow us on LinkedIn GIA is pleased to announce the launch of a major research program analysing the trends impacting the market for Hand Tools and Accessories. Invited to participate in this comprehensive grassroots level global research initiative are senior industry executives, domain experts, technologists and market strategists. The new report to be issued shortly will offer accurate assessment of global market developments including major technologies, trends and challenges, together with descriptive, exploratory, and quantitative analysis of major product and geographic market segments. For details about how you can participate in this primary research program to include your inputs prior to the publication, please click here.
Rising preference for do-it-yourself home improvement and general repair among homeowners is benefiting the market for hand tools and accessories. The need to reduce costs is a prime factor spurring the popularity of the do-it-yourself trend. Other factors driving growth in the market include increase in the number of home re-modeling, and re-decoration projects. Commoditization of the hand tools market, intense pricing pressures, and shrinking profit margins are forcing manufacturers to invest in product and technology development for effective product differentiation in the market. Research and development activities are currently being focused on improving quality, durability and easy-of-use of hand tools. While developed economies like the United States dominate the global market, future growth is expected to come from emerging economies in Asia-Pacific. Growth in Asia-Pacific is led by rapidly growing residential construction sectors in China and India, and strong demand from professional end-user markets. Despite the opportunities for growth, the market will face challenges stemming from the growing popularity of power tools, especially cordless power tools.
The upcoming report will offer coverage on major companies including Emerson Electric Co, Facom Tools Group, Jore Corporation, Kennametal Inc., Robert Bosch Tool Corporation, and Stanley Black & Decker, among others.
In addition, the study will also provide:
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Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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