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A hex wrench is a simple driver for bolts or screws that have heads with internal hexagonal recesses (sockets). Hex wrenches are formed from a single piece of hard steel hexagonal rod having blunt ends that fit snugly into similarly-shaped screw sockets. The rods are bent to 90º, forming two arms of unequal length resembling an "L". The tool is usually held and twisted by its long arm, creating a relatively large torque at the tip of the short arm; it can also be held by its short arm to access screws in difficult-to-reach locations and to turn screws faster at the expense of torque. Hex wrenches are designated with a socket size and are manufactured with tight tolerances. As such, they are commonly sold in kits that include a variety of sizes. Key length typically increases with size, but not necessarily proportionally so.
Highlights
The global Hex Wrench market is projected to reach US$ million by 2028 from an estimated US$ million in 2022, at a CAGR of % during 2023 and 2028.
North American market for Hex Wrench is estimated to increase from $ million in 2022 to reach $ million by 2028, at a CAGR of % during the forecast period of 2023 through 2028.
Asia-Pacific market for Hex Wrench is estimated to increase from $ million in 2022 to reach $ million by 2028, at a CAGR of % during the forecast period of 2022 through 2028.
The major global manufacturers of Hex Wrench include Klein Tools, Tekton, Bondhus, Apex Tool Group, Craftsman, Park Tool, Pedro's, Lezyne and Ted Pella, etc. In 2021, the world's top three vendors accounted for approximately % of the revenue.
The global market for Hex Wrench in Residential is estimated to increase from $ million in 2022 to $ million by 2028, at a CAGR of % during the forecast period of 2022 through 2028.
Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, Manual, which accounted for % of the global market of Hex Wrench in 2021, is expected to reach million US$ by 2028, growing at a revised CAGR of % from 2022 to 2028.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Hex Wrench, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Hex Wrench.
The Hex Wrench market size, estimations, and forecasts are provided in terms of sales volume (K Units) and revenue ($ millions), considering 2021 as the base year, with history and forecast data for the period from 2017 to 2028. This report segments the global Hex Wrench market comprehensively. Regional market sizes, concerning products by types, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Hex Wrench manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.
Key Companies & Market Share Insights
In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2017-2022. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:
- Klein Tools
- Tekton
- Bondhus
- Apex Tool Group
- Craftsman
- Park Tool
- Pedro's
- Lezyne
- Ted Pella
- Unior
- Imprex International
- October Mountain Products
- Capri Tools
- Stanley Black & Decker
- Cementex
Product Type Insights
Global markets are presented by Hex Wrench type, along with growth forecasts through 2028. Estimates on sales and revenue are based on the price in the supply chain at which the Hex Wrench are procured by the manufacturers.
This report has studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows sales and revenue data by type, and during the historical period (2017-2022) and forecast period (2023-2028).
Hex Wrench segment by Type
- Manual
- Electric
Application Insights
This report has provided the market size (sales and revenue data) by application, during the historical period (2017-2022) and forecast period (2023-2028).
This report also outlines the market trends of each segment and consumer behaviors impacting the Hex Wrench market and what implications these may have on the industry's future. This report can help to understand the relevant market and consumer trends that are driving the Hex Wrench market.
Hex Wrench segment by Application
- Residential
- Commercial
- Industrial
- Others
Regional Outlook
This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and sales data of each region and country for the period 2017-2028.
The market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, South America, Middle East & Africa. Detailed analysis of major countries such as the USA, Germany, the U.K., Italy, France, China, Japan, South Korea, Southeast Asia, and India will be covered within the regional segment. For market estimates, data are going to be provided for 2021 because of the base year, with estimates for 2022 and forecast revenue for 2028.
- North America
- - United States
- - Canada
- Europe
- - Germany
- - France
- - U.K.
- - Italy
- - Russia
- Asia-Pacific
- - China
- - Japan
- - South Korea
- - India
- - Australia
- - China Taiwan
- - Indonesia
- - Thailand
- - Malaysia
- Latin America
- - Mexico
- - Brazil
- - Argentina
- - Colombia
- Middle East & Africa
- - Turkey
- - Saudi Arabia
- - UAE
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
COVID-19 and Russia-Ukraine War Influence Analysis
The readers in the section will understand how the Hex Wrench market scenario changed across the globe during the pandemic, post-pandemic and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transportation, consumer behavior, supply chain management, export and import, and production. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.
Reasons to Buy This Report
This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Hex Wrench market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
This report will help stakeholders to understand the global industry status and trends of Hex Wrench and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
This report stays updated with novel technology integration, features, and the latest developments in the market
This report helps stakeholders to understand the COVID-19 and Russia-Ukraine War Influence on the Hex Wrench industry.
This report helps stakeholders to gain insights into which regions to target globally
This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Hex Wrench.
This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Core Chapters
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Hex Wrench manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Sales, revenue of Hex Wrench in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 4: Provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 7: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 8: Analysis of sales channel, distributors and customers
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: sales and revenue forecast, global and regional, by Type and by Application. It provides a quantitative analysis of the market size and development potential of each market segment in the next six years.
Chapter 11: The main points and conclusions of the report.