Global Cutlery And Hand Tools Market Trends And Strategies Of Major Players In The Cutlery And Hand Tools Market 2021-2030
16 Feb, 2021
The cutlery and hand tools market consists of sales of cutlery and hand tools by entities (organizations, sole traders and partnerships) that are engaged in one or more of the following: manufacturing metal kitchen cookware (except those produced by casting (e.g., cast iron skillets) or stamped without further fabrication), utensils, and/or nonprecious and precious plated metal cutlery and flatware; manufacturing saw blades, all types (including those for power sawing machines); and manufacturing nonpowered hand and edge tools.
Global Cutlery And Hand Tools Market Size And Drivers:
The global cutlery and hand tools market is expected to grow from $139.58 billion in 2020 to $154.23 billion in 2021 at a compound annual growth rate (CAGR) of 10.5%. The market is expected to reach $201.39 billion in 2025 at a CAGR of 7%. Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in cutlery and hand tool manufacturing, thus driving the market during the forecast period.
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Trends In The Global Cutlery And Hand Tools Market
The demand for metal additive manufacturing is growing worldwide, especially in countries such as Germany, Japan, China, and India. This is primarily due to increasing consumer demand for lightweight, faster, and fuel-efficient automobiles, which drive the demand for metal additive manufacturing. Metal additive manufacturing is a 3D printing technology used to manufacture the final product by stacking layers of material, and then polishing for a seamless appearance.
Global Cutlery And Hand Tools Market Segments:
The global cutlery and hand tools market is further segmented based on type, application and geography.
By Type: Metal Kitchen Cookware, Utensil, Cutlery, And Flatware, Saw Blade And Hand tool.
By Application:Household, Commercial.
By Geography: The global cutlery and hand tools market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global cutlery and hand tools market, accounting for 42% of the total market.
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Cutlery And Hand Tools Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides cutlery and hand tools market overviews, analyzes and forecasts market size and growth for the global cutlery and hand tools market, cutlery and hand tools market share, cutlery and hand tools market players, cutlery and hand tools market segments and geographies, cutlery and hand tools market’s leading competitors’ revenues, profiles and market shares. The cutlery and hand tools market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.