Global Do-It-Yourself (DIY) Tools Market, By Product Type (Power Tools, Hand Tools, and Decorative Tools), Retail Format Sales (DIY Stores, Specialty Stores, Furniture Stores, Online, and Others) – Industry Trends and Forecast to 2031.
Do-It-Yourself (DIY) Tools Market Analysis and Size
The DIY tools market is witnessing a surge in applications and innovative technologies/methods. Augmented reality guides, smart measurement tools, and app-integrated power tools are transforming the DIY landscape. These advancements enhance user experience, making DIY projects more accessible and efficient for enthusiasts and professionals such as.
Data Bridge Market Research analyses that the global do-it-yourself (DIY) tools market which was USD 908.62 billion in 2023 and is expected to reach USD 1,196.47 billion by 2031, registering a CAGR of 3.50% during the forecast period of 2024-2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Power Tools, Hand Tools, and Decorative Tools), Retail Format Sales (DIY Stores, Specialty Stores, Furniture Stores, Online, and Others)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
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Market Players Covered
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Stanley Black & Decker, Inc.(U.S.), Robert Bosch Power Tools GmbH (Germany), Makita Power Tools India Pvt. Ltd. (India), Atlas Copco (India) Ltd. (India), Apex Tool Group, LLC. (U.S.), Ingersoll-Rand plc (Ireland), Snap-on Incorporated. (U.S.), Koki Holdings Co., Ltd. (Japan), Emerson Electric Co. (U.S.), Panasonic Life Solutions India Pvt. Ltd. (India), Fortive. (U.S.), CHERVON (China) Trading Co., Ltd. (China), FEIN POWER TOOLS INDIA PVT LTD. (India), Ferm International B.V. (Netherlands), AIMCO. (U.S.), URYU SEISAKU, LTD. (Japan), Festool GmbH (Germany)
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Market Opportunities
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Market Definition
DIY tools empower individuals to tackle various projects independently, ranging from home repairs to creative endeavors. Spanning basic hand tools such as hammers and screwdrivers to power tools such as drills and saws, they enable customization and self-sufficiency, fostering a sense of accomplishment and skill development in users.
Global Do-It-Yourself (DIY) Tools Market Dynamics
Drivers
- Increasing Popularity of Energy-Efficient Power Tools
The surge in demand for energy-efficient power tools is reshaping the DIY market. With a focus on environmental impact and cost-effectiveness, consumers are driving manufacturers to innovate. This trend fosters a niche for eco-friendly tools, boosting sales and market expansion for brands attuned to sustainability and efficiency.
- Growing Demand for Electric Fastening Tools in Industrial Environments
Rising demand for electric fastening tools in industry is driving market growth. Accessible industrial-quality options empower consumers for precise DIY tasks, expanding the market's scope. More individuals tackle complex projects, spurring sales and market expansion as the demand for efficient and powerful DIY tools increases.
Opportunities
- Growing Adoption of Smart Connectivity in Power Tools
Smart connectivity in power tools revolutionizes the DIY market. With remote monitoring and control, access to guides, and real-time data, users enjoys enhanced convenience. Manufacturers embracing this innovation captivate tech keen consumers, boosting sales and meeting demand for advanced, efficient tools. Smart tools redefine DIY experiences, catering to a growing segment seeking user-friendly innovations.
- Rising Usage of Fastening Tools in Wind Energy Industry
The rising adoption of fastening tools in the wind energy sector creates an opportunity in the DIY tools market. With a growing interest in smaller-scale wind turbine maintenance, DIY enthusiasts seek specialized tools. Manufacturers can capitalize on this trend by expanding their product lines, driving growth in the sector and meeting the demand for wind energy-related projects.
Restraints/Challenges
- Increasing Safety Concerns in DIY Task
DIY tasks often involve handling hazardous materials or processes, raising safety concerns among consumers. Without proper training and precautions, accidents such as cuts, burns, or exposure to toxic substances occur. Ensuring clear safety guidelines, providing protective gear, and offering educational resources can help mitigate these risks and promote safer DIY practices.
- Complexity of Projects Limit Adoption
Some DIY projects demand specialized skills and knowledge, narrowing the market to those with expertise or a willingness to learn. This complexity deters casual hobbyists or individuals without the requisite experience from engaging in certain tasks, impacting the overall accessibility and appeal of the DIY tools market.
This global do-it-yourself (DIY) tools market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global do-it-yourself (DIY) tools market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In February 2021, Home Depot launched a 1.5 million-square-foot distribution center in Dallas, Texas, prioritizing swift online order fulfillment. This move aims to enhance customer access to a wide array of DIY tools and products for home improvement projects, bolstering the DIY tools market
- In February 2022, Hornbach inaugurated a new logistics center tailored for handling lengthy and bulky goods, strengthening its operational capabilities to cater to the DIY tools market. This initiative bolsters the availability of supplies for DIY enthusiasts across Germany
- In October 2021, Obi launched its innovation hub, Squared, within the corporate structure to bolster production volumes. This strategic move aims to foster innovation and development within the DIY tools market, enhancing the accessibility and variety of DIY products for consumers
- In January 2021, Walmart ventured into the fin-tech realm with a dedicated startup offering affordable, cutting-edge financial DIY solutions to associates and customers. This initiative diversifies Walmart's offerings into financial tools, complementing its existing presence in the DIY tools market
Global Do-It-Yourself (DIY) Tools Market Scope
The global do-it-yourself (DIY) tools market is segmented on the basis of product type and retail format sales. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Power Tools
- Hand Tools
- Decorative Tools
Retail Format Sales
- DIY Stores
- Specialty Stores
- Furniture Stores
- Online
- Others
Global Do-It-Yourself (DIY) Tools Market Regional Analysis/Insights
The global do-it-yourself (DIY) tools market is analyzed and market size insights and trends are provided by product type and retail format sales as referenced above.
The countries covered in the global do-it-yourself (DIY) tools market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America is expected to dominate the do-it-yourself (DIY) tools market, propelled by consumer preferences for home improvement. The region's embrace of digitalization, coupled with widespread media penetration such as cable TV and internet, further fuels this trend.
Europe is expected to grow at the fastest rate in the do-it-yourself (DIY) tools market during the forecast period, propelled by increasing consumer investments in home improvement projects. This trend reflects a rising demand for DIY tools and accessories across the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Do-It-Yourself (DIY) Tools Market Share Analysis
The global do-it-yourself (DIY) tools market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global do-it-yourself (DIY) tools market.
Some of the major players operating in the global do-it-yourself (DIY) tools market are:
- Stanley Black & Decker, Inc.(U.S.)
- Robert Bosch Power Tools GmbH (Germany)
- Makita Power Tools India Pvt. Ltd. (India)
- Atlas Copco (India) Ltd. (India)
- Apex Tool Group, LLC. (U.S.)
- Ingersoll-Rand plc (Ireland)
- Snap-on Incorporated. (U.S.)
- Koki Holdings Co., Ltd. (Japan)
- Emerson Electric Co. (U.S.)
- Panasonic Life Solutions India Pvt. Ltd. (India)
- Fortive. (U.S.)
- CHERVON (China) Trading Co., Ltd. (China)
- FEIN POWER TOOLS INDIA PVT LTD. (India)
- Ferm International B.V. (Netherlands)
- AIMCO. (U.S.)
- URYU SEISAKU, LTD. (Japan)
- Festool GmbH (Germany)
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