Market Overview:
The global truck tools market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for commercial vehicles, rising awareness about safety and security, and growing demand for aftermarket services. The global truck tools market is segmented on the basis of type into manual and electric truck tools. The manual truck tools segment is expected to dominate the market during the forecast period owing to its low cost as compared to electric truck tools. However, with technological advancements, electric truck tools are becoming more popular among end users due their high performance and efficiency levels as compared to manual truck tools. On the basis of application, the global Truck Tools Market can be divided into OEMs and aftermarket segments.
Product Definition:
A truck tool is a device that helps with the operation or maintenance of a truck. There are many different types of truck tools, but some of the most common ones include wrenches, screwdrivers, and ratchets. Truck tools are important because they help drivers to fix problems with their trucks and keep them running smoothly.
Manual:
In case of any mechanical failure while driving, do they have a backup for the same or are they completely dependent on their own physical capabilities and skills? If there is a backup option available then why is it not used by majority of the drivers out there.
Electric:
Electric is a power-driven tool used for removing nuts and bolts. It’s an important tool in the truck tools market as it helps in increasing productivity while working on vehicles. The demand for electric has increased over the years owing to technological advancements, which have made its usage easy and effective.
Application Insights:
OEMs held the largest market share of over 70% in 2017. The aftermarket is expected to witness significant growth owing to the increasing number of trucks, which are serviced by OEMs. OEMs provide parts and service for their own vehicles only, thereby creating a barrier for the consumers in terms of services and parts availability. However, with growing demand from end-users regarding replacement or additional equipment on their trucks, this trend is expected to change over time as well.
The aftermarket includes independent repair shops as well as original equipment manufacturers (OEM). The presence of various brands offering different types of tools catering to varied requirements has led to an increase in revenue share held by the latter segment across all major regions globally since 2016. This trend is likely to continue through 2018 and beyond due largely in part that these companies offer more than just vehicle repair services but also include truck rental & leasing options among others providing solutions related specifically towards heavy commercial vehicles (HCVs).
Regional Analysis:
The Asia Pacific region is anticipated to witness significant growth over the forecast period owing to the increasing demand for heavy-duty trucks in countries such as China, India, and Japan. The growing manufacturing sector in these economies is expected to drive product adoption over the next eight years. Furthermore, rising disposable income levels are likely to contribute significantly towards regional market development.
North America held a substantial share of more than 30% in 2017 due to high demand from U.S., which has one of the largest truck markets worldwide with around 6 million light-duty vehicles sold annually since 2010 according to OICA statistics. Moreover, presence of key players such as Cummins Inc.
Europe accounted for a major revenue share followed by North America region on account of growing aftermarket sales across both regions coupled with increased OEMs production capacities/orders received by manufacturers located within Europe.
Growth Factors:
- Increasing demand for commercial vehicles
- Growing infrastructure development activities
- Rising adoption of truck tools for preventive maintenance of commercial vehicles
- Proliferation of online retail platforms for truck tools and accessories
- Technological advancements in truck tool design and functionality
Scope Of The Report
Report Attributes
Report Details
Report Title
Truck Tools Market Research Report
By Type
Manual, Electric
By Application
OEMs, Aftermarket
By Companies
Klein Tools, Stanley, Rooster Products International, Ergodyne, Custom Leathercraft, Lenox Industrial Tools, Hitachi, Atlas Copco, Apex Tool Group, Toku, Makita, Paslode, Snap-on, Bosch, SENCO, P&F Industries, Ingersoll Rand, Dynabrade, URYU SEISAKU
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
221
Number of Tables & Figures
155
Customization Available
Yes, the report can be customized as per your need.
Global Truck Tools Market Report Segments:
The global Truck Tools market is segmented on the basis of:
Types
Manual, Electric
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
OEMs, Aftermarket
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Klein Tools
- Stanley
- Rooster Products International
- Ergodyne
- Custom Leathercraft
- Lenox Industrial Tools
- Hitachi
- Atlas Copco
- Apex Tool Group
- Toku
- Makita
- Paslode
- Snap-on
- Bosch
- SENCO
- P&F Industries
- Ingersoll Rand
- Dynabrade
- URYU SEISAKU
Highlights of The Truck Tools Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Manual
- Electric
- By Application:
- OEMs
- Aftermarket
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Truck Tools Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Truck Tools is a website that sells tools and equipment for truck drivers. The site offers a variety of tools, including jump starters, air compressors, and tool boxes. Truck Tools also offers instructional videos on how to use the tools and equipment.
Some of the major companies in the truck tools market are Klein Tools, Stanley, Rooster Products International, Ergodyne, Custom Leathercraft, Lenox Industrial Tools, Hitachi, Atlas Copco, Apex Tool Group, Toku, Makita, Paslode, Snap-on, Bosch, SENCO, P&F Industries, Ingersoll Rand, Dynabrade, URYU SEISAKU.
The truck tools market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Truck Tools Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Truck Tools Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Truck Tools Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Truck Tools Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Truck Tools Market Size & Forecast, 2018-2028
4.5.1 Truck Tools Market Size and Y-o-Y Growth
4.5.2 Truck Tools Market Absolute $ Opportunity
Chapter 5 Global Truck Tools Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Truck Tools Market Size Forecast by Type
5.2.1 Manual
5.2.2 Electric
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Truck Tools Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Truck Tools Market Size Forecast by Applications
6.2.1 OEMs
6.2.2 Aftermarket
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Truck Tools Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Truck Tools Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Truck Tools Analysis and Forecast
9.1 Introduction
9.2 North America Truck Tools Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Truck Tools Market Size Forecast by Type
9.6.1 Manual
9.6.2 Electric
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Truck Tools Market Size Forecast by Applications
9.10.1 OEMs
9.10.2 Aftermarket
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Truck Tools Analysis and Forecast
10.1 Introduction
10.2 Europe Truck Tools Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Truck Tools Market Size Forecast by Type
10.6.1 Manual
10.6.2 Electric
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Truck Tools Market Size Forecast by Applications
10.10.1 OEMs
10.10.2 Aftermarket
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Truck Tools Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Truck Tools Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Truck Tools Market Size Forecast by Type
11.6.1 Manual
11.6.2 Electric
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Truck Tools Market Size Forecast by Applications
11.10.1 OEMs
11.10.2 Aftermarket
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Truck Tools Analysis and Forecast
12.1 Introduction
12.2 Latin America Truck Tools Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Truck Tools Market Size Forecast by Type
12.6.1 Manual
12.6.2 Electric
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Truck Tools Market Size Forecast by Applications
12.10.1 OEMs
12.10.2 Aftermarket
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Truck Tools Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Truck Tools Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Truck Tools Market Size Forecast by Type
13.6.1 Manual
13.6.2 Electric
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Truck Tools Market Size Forecast by Applications
13.10.1 OEMs
13.10.2 Aftermarket
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Truck Tools Market: Competitive Dashboard
14.2 Global Truck Tools Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Klein Tools
14.3.2 Stanley
14.3.3 Rooster Products International
14.3.4 Ergodyne
14.3.5 Custom Leathercraft
14.3.6 Lenox Industrial Tools
14.3.7 Hitachi
14.3.8 Atlas Copco
14.3.9 Apex Tool Group
14.3.10 Toku
14.3.11 Makita
14.3.12 Paslode
14.3.13 Snap-on
14.3.14 Bosch
14.3.15 SENCO
14.3.16 P&F Industries
14.3.17 Ingersoll Rand
14.3.18 Dynabrade
14.3.19 URYU SEISAKU
