Vise-Grip Pliers Market Size, Share & Industry Analysis, By Type (Single Pliers, Multi Pliers, Customised), By Application (Do-It-Yourself, Industrial [Construction, Shipping, Aerospace and Defence, Automotive, Others]) and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
The first vise-grip plier was patended by an America in 1920s. Later, during the second world war, the market of household products increased rapidly, owing to their usage in various emergency services. was Vise-grip pliers have several industrial and residential applications in plumbing, metalwork, roofibg masonry, and many more. A vise-grip plier is handy which can be used in manufacturing sector, including automotive, aerospace and defence, construction, and many others. It is a very important and usefull tool in the mnufacturing industry. Also, many consumer buys the vise-grip plier to conduct DIY task at home.
The market is expeted to grow gradully during the forecasted period, owing to its contnous adoption in the manufacturing sectors of various industries. Moreover, Asia Pacific will hold the largest market share due to the presence of several registered and non-registered manufacturing compaies.
Several governments across the world are focussing on investing in manufacturing sector, to boost their economies. This in turn is allowing the vise-grip plier manufacturers to invest more, which is the primary factor that is influencing positively in the growth of the market. Moreover, companies are working contniuoulsy on partnering and mergering with local and regional players, which will permit them to increase their footprints with strong portfolio. Furthermore, the demand for DIY tools has been increased over the past few deacdes and is expected to increase in the coming future. Vis-grip pliers can be used in any houshold applications. Howerver, the material cost to manufacture a vise-grip plier is very high, owing to the increasing demand for raw materials.
The pandemic of Covid-19 have restraint the growth of the market in 2020. However, the market is anticipated to grow and cover the vacuum created by the pandemic in the coming future, gradually.
Key Players Covered:
The major market players are working continuously on technical developments in the vise-grip pliers, to increase the efficiency, diameter, grip, and many more. Some of the key competitors in the vise-grip pliers market include IRWIN Tools, Apex Tool Group, LLC., Tapariatools, Suzhou Foxmax Tools Co., Ltd., ShunDe Daliang Jiatian Hard Tool Co., Ltd., YangZhou RuiCheng International Trade Inc., CTT Tools, and others.
Regional Analysis
North America and Europe are projected to moderatley over the coming period, owing to the fragmentation of market in developed countries. Moreover, new entrants are working continuously on manufacturing vise-grip pliers with innovative technologie.
Asia Pacific is expected to gauge the largest market share, owing the huge presence of local and regional players in countries such as India and China. Also, the government of India have initiated the policy of boosting the manufacturing sector, which in turn will allow manucfacturers to invest in the upcoming technologies.
The economical chart of the the Middle East and Africa is growing exponentially and is expected to grow in the coming future. This is owed to the investments of various organisation in countries such as the Kingdom of Saudi Arabia, Qatar, Kuwait and The United Arab of Emirates. This will allow the vise-grip plier market to growin the region segnificantly in the forecasted period. However, Lating America is estimated grow moderately, owing to the increasing investments by governmets and other private organisations on the construction, oil and gas, and many other industry verticals.
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Segmentation
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Key Industry Developments
- November 2019: IRWIN Tools is focused on manufacturing technology enables tools, which will provide better efficiency and grip. The company has launched patented Pit bar to provide toughness, increased strength to the end user.
- December 2017: Apex Tool Group, LLC. Launched a new brand identity under its brand Crescent. This will allow the company to offer its five hand tool brands from together under the Crescent name.
- Ongoing
- 2023
- 2019-2022
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