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The global non-sparking tools market is expected to grow at a CAGR of 3.65% from 2022 to 2028.Speak directly to the analyst to clarify any post sales queries you may have.
MARKET TRENDS & DRIVERS
Developing Pharmaceutical Sector
The pharmaceutical industry plays a significant role in the well-being of humans. In Europe, people are expected to live 30 years longer than 100 years ago. Since producing these medicines would require safe environments, using non-sparking tools becomes very important. Hence will propel the growth of the non-sparking tools market. Pharmaceutical industries are also working at developing vaccines for various conditions, such as Alzheimer’s dementia, among many others. Developing medicines for these would require non-sparking tools in the manufacturing facilities.Rising Usage of Industrial Tools in Manufacturing Industries
In the manufacturing industry, non-sparking tools are quite significant. Non-sparking tools are essential to the global industries of general machinery, automobiles, aviation and aerospace, energy, medical, rail transit, and oil & gas, mining, and others. Moreover, non-sparking tools are one of the significant components of the oil & gas and mining industry.Consistent Growth in the Construction Industry
The construction market is expected to grow to USD 15.21 trillion by 2030, and countries like the U.S., China, and India contribute more than 55% of this global growth. The world is witnessing new developments and market trends in the construction industry. Technological transformation is a major factor influencing the transition, and significant changes have been deployed throughout the industry, from design to installation. While building projects are becoming more complex, stringent policies governing employee safety, advanced precision tools, energy efficiency, and productivity are some of the major concerns. Further, the growing population, the rising demand for public construction activities, and rising investments in renewables and telecommunications are expected to fuel the growth in the construction industry during the forecast period, stimulating the development of the global non-sparking tools market.INSIGHTS BY RAW MATERIALS
Copper and its alloys are the most widely used raw material to manufacture non-sparking tools, as copper is a malleable metal that can be shaped into any device. Copper being malleable allows it to be shaped into any form and gives it flexibility. Such reasons are having a positive impact on the non-sparking tools that are made with copper alloys across the globe. Due to such factors, the copper alloy segment will dominate the global non-sparking tools market during the forecast period.Segmentation By Raw Materials
- Copper Alloys
- Brass
- Bronze
- Others
INSIGHTS BY PRODUCT TYPE
Non-sparking tools are a subset of handheld tools, and the unique selling point of these tools is that they do not create sparks and are very handy in workplaces that can be hazardous. The global non-sparking tools market by product type segments as general purpose, striking & cutting, digging, and other tools. The general purpose tools accounted for the largest share of the industry in 2022. Further, striking and cutting tools also have a significant share in the market. Striking tools are used in various applications like residential, automotive, construction, and household activities where these tools do not require any power to operate; hence, these are manually operated and easy to maintain, widely used by professionals and homeowners as these tools are easy to handle and less expensive than power tools and can be used in hazardous environments as well.Segmentation By Product Type
- General Purpose Tools
- Striking & Cutting Tools
- Digging Tools
- Other Tools
INSIGHTS BY END-USERS
The global non-sparking tools market by end-users includes industrial, construction, and residential segments. The Industrial segment held the largest industry share in 2022. Non-sparking tools are used across various industries such as electronics, automobiles, aerospace, construction, and medical. The automotive, electronics and aerospace industries use non-sparking tools while manufacturing airplanes, cars, and electronic products, as multiple parts of these industries are produced in environments where caution needs to be taken. Moreover, in the aeronautic sector, products such as screwdrivers, hammers, pliers, and sockets have various applications during the connection of two plates, assembly of parts that will be installed, and installation of sensitive components such as radars, autopilot consoles, and many other factors.Segmentation By End-users
- Industrial
- Construction
- Residential
INSIGHTS BY DISTRIBUTION CHANNEL
The offline distribution channel has the highest global non-sparking tools market share and is projected to continue its dominance during the forecast period. Factors such as the broader reach in areas that lack better connectivity and high consumer trust associated with touching and experiencing the quality of products are driving the growth of this segment. Further, one of the prime modes of equipment sales globally is through dealers and distributors in the offline feature. They play a significant role in offering products to potential customers. These dealers and distributors sell non-sparking tools from original equipment manufacturers.Segmentation by Distribution Channel
- Offline
- Online
GEOGRAPHICAL ANALYSIS
APAC accounted for the most significant global non-sparking tools market share, accounting for over 31% in 2022. The APAC region, home to several industries, including manufacturing, services, automobiles, and electrical drives, consequently increases the need for industrial tools, specifically non-sparking tools, with applications in multiple industries. Furthermore, the growth of the non-sparking tools market is driven by the fact that countries like China, Japan, and India have a commendable market share in the global pharmaceutical sector. Further, the manufacturing industry in the Middle Eastern region is witnessing a significant change driven by rapid technological development. The oil and gas industry contributes about 40% of the UAE’s GDP.Segmentation by Geography
North America
- The U.S.
- Canada
Europe
- The U.K.
- Germany
- France
- Italy
- Spain
APAC
- China
- India
- Japan
- South Korea
- Australia
Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
Latin America
- Brazil
- Mexico
- Argentina
COMPETITIVE LANDSCAPE
The global non-sparking tools market is highly fragmented, with many local and international players. Stanley Black & Decker, AMPCO, W.W. Grainer, Snap-On, and Gedore Werkzeugfavrik GMBH & Co.KG are a few prominent players alongside numerous domestic tool manufacturers that specialize in manufacturing non-sparking tools based on local demands and regulations. Many other players offer products with similar specifications, such as length, width, and cutting techniques, at low prices. This will likely intensify the price war among vendors in the non-sparking tools market during the forecast period.Key Company Profiles
- AMPCO Metal
- Stanley Black & Decker
- W.W. Grainger Inc
- Snap On
Other Prominent Vendors
- GEDORE Werkzeugfabrik GmbH & Co. KG
- PAHWA METALTECH
- Eastman Cast and Forge Ltd.
- Cangzhou Marine Special Explosin-Proof Tools Manufacturing Co.Ltd.
- Saunders Midwest LLC
- Intercon USA Inc
- ACB
- EGA Group
KEY QUESTIONS ANSWERED:
1. How big is the non-sparking tools market?2. What is the growth rate of the global non-sparking tools market?
3. Which region dominates the global non-sparking tools market share?
4. What are the significant trends in the non-sparking tools industry?
5. Who are the key players in the global non-sparking tools market?
Table of Contents
1 Research Methodology2 Research Objectives3 Research Process6 Market at a Glance
4 Scope & Coverage
5 Report Assumptions & Caveats
7 Premium Insights
8 Introduction
9 Market Opportunities & Trends
10 Market Growth Enablers
11 Market Restraints
12 Market Landscape
13 Raw Materials
14 Product Type
15 End-users
16 Distribution Channel
17 Geography
18 North America
19 Europe
20 APAC
21 Middle East & Africa
22 Latin America
23 Competitive Landscape
24 Key Company Profiles
25 Other Prominent Vendors
26 Report Summary
27 Quantitative Summary
28 Appendix
List of Exhibits
List of Tables
Companies Mentioned
- AMPCO Metal
- Stanley Black & Decker
- W.W. Grainger Inc.
- Snap On
- GEDORE Werkzeugfabrik GmbH & Co. KG
- PAHWA METALTECH
- Eastman Cast and Forge Ltd.
- Cangzhou Marine Special Explosin-Proof Tools Manufacturing Co. Ltd.
- Saunders Midwest LLC
- Intercon USA Inc.
- ACB
- EGA Group
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 252 |
| Published | October 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 480 Million |
| Forecasted Market Value ( USD | $ 595.07 Million |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
