In the world economic growth, the Multi-Tool industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Multi-Tool market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2019, SMI analysts believe that in the next few years, Multi-Tool market size will be further expanded, we expect that by 2024, The market size of the Multi-Tool will reach XXX million $.
Multi-tools are used in job sites or workshops for various purposes such as sand; saw metal, wood, and drywall; make large holes; plunge cut into hardwood, or undercut a doorway. The increasing popularity of action sports such as bicycling and mountain climbing is expected to propel the growth of the global multi-tools market over the forecast period. For instance, in March 2020, Union Cycliste Internationale announced its plans to launch a new short-format competition designed to attract new audiences as part of a radical shake-up of the track cycling calendar. Moreover, in March 2020, Bitterroot National Forest (U.S) started the development of the forest-wide climbing plan.
The development and launch of new tools are expected to fuel the growth of the global multi-tools market over the forecast period. For instance, in January 2020, Gerber Legendary Blades partnered with Randy Newberg, a renowned hunter, and conservationist, for the launch of two new field dressing tools – Dual Tool System (DTS) and Exchangeable Blade System (EBS) knife— at the 2020 SHOT Show in Las Vegas (U.S). Moreover, the launch of the advanced, next-generation tools is also expected to aid in the growth of the global multi-tools market over the forecast period. For instance, in September 2019, Irwin Vise-Grip launched next-generation bi-metal reciprocating saw blade range for optimal efficiency with precision set teeth.
However, fluctuating price of aluminum is expected to hinder the growth of the market. For instance, in 2019, the price of aluminum fluctuated between around US$ 50/ton above and below a median of US$ 1,900.
Major players in the market are focused on re-launching products with new variants. For instance, in November 2018, CRAFTSMAN, a part of Stanley Black & Decker, launched a refreshed brand identity and a new generation of tools, products, and accessories that include, power tools, equipment & accessories, lawn & garden power equipment, hand tools, mechanic & automotive tools, storage & organization solutions.
Major players in the market are also focused on launching new products to expand their product portfolio. For instance, in July 2019, Gerber Legendary Blades launched new pliers and knives, including a needlenose and split ring Magniplier, a folding fillet knife, a steaking knife, and a Japanese-inspired slicer, in its fishing collection.
Key Takeaways
- Increasing popularity of action sports such as bicycling and mountain climbing to augment growth of the global multi-tools market over the forecast period
- Fluctuating price of aluminum is expected to hinder growth of the market
- Major players operating in the market include, Gerber Legendary Blades, Stanley Black & Decker, Leatherman, Swiss Army Knife (Victorinox), Facom S.A., Irwin Vise-Grip, Westward, Gearwrench, Osborn, SOG, and Columbia River Knife and Tool
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size, both volume and value. Also cover different industries clients information, which is very important for the manufacturers. If you need more information, please contact SMI
Section 1: Definition
Section (2 3): Manufacturer Detail
Gerber
Stanley
Leatherman
Swiss Army Knife
Facom S.A.
Irwin Vise-Grip
Westward
Gearwrench
Osborn
SOG
Victorinox
Columbia River Knife and Tool
Section 4: Region Segmentation
North America Country (United States, Canada)
South America
Asia Country (China, Japan, India, Korea)
Europe Country (Germany, UK, France, Italy)
Other Country (Middle East, Africa, GCC)
Section (5 6 7):
Product Type Segmentation
Credit-card or Key Size
Pocket Size
Heavy-duty Size
Industry Segmentation
DIY
Outdoor Operation
Travel Friendly
Tactical
Action Sports
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2019-2024)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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