Angleizer Tools Market

COVID-19 Impact Analysis

• The COVID-19 pandemic ceased the production of various products in the angleizer tools industry, which is attributed to the global lockdown. This has hampered the growth of angleizer tools market in the years 2020 and 2021, and a similar trend is expected to be seen in the first half of 2022.
• The major demand for angleizer tools was previously noticed from giant developed and developing countries including the U.S., Germany, Italy, the UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for angleizer tools.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Angleizer tools manufacturers can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis
• Angleizer tools manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distance, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

The global increase in DIY (do it yourself) culture among the general public for repairing and renovating their own homes and creating new products on their own is one of the factors driving demand in the angleizer tools market.. Furthermore, in the last few years, flooring industry has seen a rapid rise owing to the increase in construction of residential buildings. As a result, a surge in demand in the angleizer tools has been noticed. Moreover, the easy availability of the angleizer tools in the market is driving the demand for the angleizer tools. However, the availability of substandard tools at a lower price is a restraining factor hindering the growth of large-renowned manufacturers in the angleizer tools market. Contrarily, technological developments in precision machining during the manufacturing process and use of lightweight materials, can boost the accuracy of the angleizer tools. This is anticipated to create lucrative opportunities for the angleizer tools market growth during the forecast period.

Market Trends

• Key players in the angleizer tool market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in February 2021, Worthington Industries, Inc., a manufacturer of industrial tools, announced the acquisition of General Tools & Instruments Company LLC. This move is expected to complement the current offerings of angleizer tools by Worthington Industries. 
• Similarly, in May 2019, JPW Industries Inc., a leading global manufacturer and distributor of specialty shop tools, acquired Baileigh Industrial Holdings, operating in the same industry. This move is anticipated complement the product offerings of angleizer tools by JPW Industries.
• Moreover, business expansion strategies assist in expanding their geographic footprint and help in gaining significant market share for angleizer tool products. For instance, in February 2022, Harbor Freight Tools, based in Southern California, U.S., opened a new store in Smyrna. It would be the second location in Rutherford County. The facility is expected to improve the service offerings for industrial measuring tools, including angleizer tools, for consumers in the region.

Key Benefits of the Report

• This study presents the analytical depiction of the angleizer tools industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities, along with detailed analysis of the angleizer tools market share.
• The current market is quantitatively analyzed to highlight the angleizer tools market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed angleizer tools market analysis based on competitive intensity and how the competition will take shape in coming years.