Tongue-and-groove Pliers Market was valued at USD 1.20 Billion in 2022 and is projected to reach USD 1.85 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
Tongue-and-groove Pliers Market Size and Opportunity Analysis
The global tongue-and-groove pliers market was valued at approximately USD 1.2 billion in 2022, with a projected compound annual growth rate (CAGR) of 5.3% over the forecast period. The market’s growth can be attributed to the rising demand for durable and versatile hand tools in both professional and residential settings. Increasing construction activities, coupled with advancements in tool technology, are expected to drive significant market expansion. North America and Europe are currently the dominant regions due to high industrial activities, but the Asia-Pacific region is emerging as a high-growth area due to rapid urbanization and industrialization.
Opportunities within the market are being fueled by innovations in tool design and materials, enhancing both performance and safety. The growing trend towards DIY home improvement projects and the expansion of the automotive and manufacturing sectors also contribute to market growth. Emerging markets, particularly in regions like Latin America and Asia-Pacific, present substantial opportunities due to increasing infrastructural developments and rising disposable incomes. Market players are likely to benefit from expanding their presence in these regions and focusing on product innovation to capture a larger share of the evolving market.
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Who are the largest Global manufacturers in the Tongue-and-groove Pliers industry?
- Stanley Black & Decker
- Wiha Tools
- Apex Tool Group
- Prokit’s Industries
- Endura Tools
- Phoenix Tools
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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What are the factors driving the growth of the Global Tongue-and-groove Pliers Market?
Growing demand for below applications around the world has had a direct impact on the growth of the Global Tongue-and-groove Pliers Market
- Industry
- Construction
- Others
What are the types of Tongue-and-groove Pliers available in the Market?
Based on Types the Market is categorized into Below types that held the largest Tongue-and-groove Pliers market share In 2023.
- Working Pliers
- Special Pliers
Which regions are leading the Global Tongue-and-groove Pliers Market?
- Global (United States, Global and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia, etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Detailed TOC of Global Tongue-and-groove Pliers Market Research Report, 2024-2032
1. Introduction of the Global Tongue-and-groove Pliers Market
- Overview of the Market
- Scope of Report
- Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
- Data Mining
- Validation
- Primary Interviews
- List of Data Sources
4. Global Tongue-and-groove Pliers Market Outlook
- Overview
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Porters Five Force Model
- Value Chain Analysis
5. Global Tongue-and-groove Pliers Market, By Type
6. Global Tongue-and-groove Pliers Market, By Application
7. Global Tongue-and-groove Pliers Market, By Geography
- Global
- Europe
- Asia Pacific
- Rest of the World
8. Global Tongue-and-groove Pliers Market Competitive Landscape
- Overview
- Company Market Ranking
- Key Development Strategies
9. Company Profiles
10. Appendix
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