Electrician hand tools are specialized hand tools that are witnessing a significant surge in demand due to the widespread adoption of e-commerce. Several manufacturers in the electrician hand tools market are focusing on building their websites to increase customer retention and better understand consumer preferences.
Asia-Pacific is projected to witness high growth in the electrician hand tools market. Japan, South Korea, and Singapore are frontrunners in the regional market growth. China is one of the largest exporters of electrician hand tools, as the country is backed by the presence of leading companies such as Booher.
Economic growth in Asia-Pacific has urged the regional governments to improve electricity access in rural areas. In line with this, authorities, especially in Southeast Asian countries, are channelizing efforts to expand grid-based electrification in rural areas. Electrification initiatives involve the establishment of transmission lines and power utilities, which require tools. Thus, the expansion of the power industry is expected to positively influence the demand for electrician hand tools in the long run.
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Impact of COVID-19
The COVID-19 pandemic will considerably impact the consumer income and negatively impact their buying power, which will further affect the electrician hand tools market whose prime consumer is involved in the do it yourself (DIY) and repair jobs. As economies continue with their protectionist policies, they are projected to support industrial growth to reduce their dependencies on imports. This will witness a positive growth rate, mainly driven by the industrial end-user segment.
Electrician Hand Tools Market Segmentation
By Product Type
By Sales Channel
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now