Market Overview:
The global ratchet wrench 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 ratchet wrenches in commercial and household applications. Additionally, the growing demand for electric ratchet wrenches is also contributing to the growth of this market. North America dominates the global ratchet wrench market, followed by Europe and Asia Pacific.
Product Definition:
Ratchet wrench is a tool that helps in the tightening or loosening of bolts and nuts. It has a ratchet head which is operated by a lever. The ratchet head has gear teeth that mesh with mating gear teeth on the underside of the bolt or nut being turned. This allows the wrench to be turned in one direction only, which makes it easier to use than traditional wrenches.
Electric Type:
Electric type ratchet wrench is a device that's used in automotive applications to remove nuts and bolts. The electric type has several advantages over the pneumatic one, which is expected to drive its market growth.
Advantages of electric type over pneumatic one: It requires less force for removing or installing fasteners due to the high torque density of the tool.
Manual Type:
Manual type is also known as power-driven or manual wrenches. It’s a hand tool that’s used to apply torque, which is generated by the rotation of the handle around an axis. The majority of them are operated by leverage and they have a lower working weight compared to electric wrenches.
Application Insights:
The commercial application segment dominated the global market in 2017. The growth of this segment is attributed to the increasing number of construction projects and initiatives undertaken by governments across the world. For instance, according to a blog by World Bank, there are currently more than 54 million buildings constructed or under construction around the world. Of these, approximately 50% are residential buildings and 30% are non-residential buildings such as offices or factories. This initiative is expected to drive product demand over the forecast period.
The household application segment accounted for a share of 26% in 2017 owing to an increase in DIY activities among consumers globally who prefer using wrenches for nuts & bolts instead of using screwdrivers or pliers due to their ease.
Regional Analysis:
Asia Pacific dominated the global market in 2017 owing to increasing demand for ratchet wrenches from construction, automotive and electronics industries. The region is expected to witness significant growth over the forecast period on account of rising investments in infrastructure development coupled with rapid industrialization and urbanization.
The growing population, especially in China and India, has led to an increase in consumer goods production which has resulted into increased requirement for tools such as ratchet wrenches. Moreover, favorable government initiatives regarding manufacturing facilities are anticipated to drive product demand over the forecast period.
Growth Factors:
- Increasing demand from automotive and aerospace industries for ratchet wrenches
- Rising popularity of ratchet wrenches as a versatile tool in home improvement projects
- Growing number of DIY enthusiasts who prefer to use ratchet wrenches for various tasks
- Technological advancements that have led to the development of new and innovative ratchet wrench designs
- Increased marketing and promotional activities by manufacturers to create awareness about the benefits of using ratchet wrenches
Scope Of The Report
Report Attributes
Report Details
Report Title
Ratchet Wrench Market Research Report
By Type
Electric Type, Manual Type
By Application
Commercial, Household
By Companies
Stanley, Apex Tool Group, Great Wall Precision, TTi, Snap-on Inc., Ideal Industries, Textron, Klein Tools, Wurth Group, Tajima, Knipex, Irwin, PHOENIX, Wiha, Channellock, Pro'skit, Ajay, Akar Tools, JPW Industries, JK Files, DUCK, JETECH, Excelta, Sinotools
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
239
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Ratchet Wrench Market Report Segments:
The global Ratchet Wrench market is segmented on the basis of:
Types
Electric Type, Manual Type
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
Commercial, Household
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:
- Stanley
- Apex Tool Group
- Great Wall Precision
- TTi
- Snap-on Inc.
- Ideal Industries
- Textron
- Klein Tools
- Wurth Group
- Tajima
- Knipex
- Irwin
- PHOENIX
- Wiha
- Channellock
- Pro'skit
- Ajay
- Akar Tools
- JPW Industries
- JK Files
- DUCK
- JETECH
- Excelta
- Sinotools
Highlights of The Ratchet Wrench 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:
- Electric Type
- Manual Type
- By Application:
- Commercial
- Household
- 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 Ratchet Wrench 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
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- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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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?
Ratchet Wrench is a tool used to tighten or loosen bolts and screws.
Some of the key players operating in the ratchet wrench market are Stanley, Apex Tool Group, Great Wall Precision, TTi, Snap-on Inc., Ideal Industries, Textron, Klein Tools, Wurth Group, Tajima, Knipex, Irwin, PHOENIX, Wiha, Channellock, Pro'skit, Ajay, Akar Tools, JPW Industries, JK Files, DUCK, JETECH, Excelta, Sinotools.
The ratchet wrench market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ratchet Wrench Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Ratchet Wrench Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Ratchet Wrench Market - Supply Chain
4.5. Global Ratchet Wrench Market Forecast
4.5.1. Ratchet Wrench Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Ratchet Wrench Market Size (000 Units) and Y-o-Y Growth
4.5.3. Ratchet Wrench Market Absolute $ Opportunity
5. Global Ratchet Wrench Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Ratchet Wrench Market Size and Volume Forecast by Type
5.3.1. Electric Type
5.3.2. Manual Type
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Ratchet Wrench Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Ratchet Wrench Market Size and Volume Forecast by Application
6.3.1. Commercial
6.3.2. Household
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Ratchet Wrench Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Ratchet Wrench Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Ratchet Wrench Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Ratchet Wrench Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Ratchet Wrench Demand Share Forecast, 2019-2026
9. North America Ratchet Wrench Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Ratchet Wrench Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Ratchet Wrench Market Size and Volume Forecast by Application
9.4.1. Commercial
9.4.2. Household
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Ratchet Wrench Market Size and Volume Forecast by Type
9.7.1. Electric Type
9.7.2. Manual Type
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Ratchet Wrench Demand Share Forecast, 2019-2026
10. Latin America Ratchet Wrench Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Ratchet Wrench Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Ratchet Wrench Market Size and Volume Forecast by Application
10.4.1. Commercial
10.4.2. Household
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Ratchet Wrench Market Size and Volume Forecast by Type
10.7.1. Electric Type
10.7.2. Manual Type
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Ratchet Wrench Demand Share Forecast, 2019-2026
11. Europe Ratchet Wrench Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Ratchet Wrench Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Ratchet Wrench Market Size and Volume Forecast by Application
11.4.1. Commercial
11.4.2. Household
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Ratchet Wrench Market Size and Volume Forecast by Type
11.7.1. Electric Type
11.7.2. Manual Type
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. ByCountry
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Ratchet Wrench Demand Share, 2019-2026
12. Asia Pacific Ratchet Wrench Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Ratchet Wrench Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Ratchet Wrench Market Size and Volume Forecast by Application
12.4.1. Commercial
12.4.2. Household
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Ratchet Wrench Market Size and Volume Forecast by Type
12.7.1. Electric Type
12.7.2. Manual Type
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Ratchet Wrench Demand Share, 2019-2026
13. Middle East & Africa Ratchet Wrench Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Ratchet Wrench Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Ratchet Wrench Market Size and Volume Forecast by Application
13.4.1. Commercial
13.4.2. Household
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Ratchet Wrench Market Size and Volume Forecast by Type
13.7.1. Electric Type
13.7.2. Manual Type
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Ratchet Wrench Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Ratchet Wrench Market: Market Share Analysis
14.2. Ratchet Wrench Distributors and Customers
14.3. Ratchet Wrench Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Stanley
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Apex Tool Group
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Great Wall Precision
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. TTi
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Snap-on Inc.
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Ideal Industries
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Textron
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Klein Tools
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Wurth Group
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Tajima
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Knipex
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Irwin
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. PHOENIX
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Wiha
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Channellock
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Pro'skit
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Ajay
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Akar Tools
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. JPW Industries
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. JK Files
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
