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Striking Tools Market to Reach $1.7 Billion, Globally, by 2032 at 2.8% CAGR: Allied Market Research

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Major players in the striking tools industry have focused on business expansion and product launch strategies to gain the maximum share in the market. This further results in consolidation of the striking tools market.

WILMINGTON, Del., Aug. 15, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Striking Tools Market by Type (Hammers, Hatchets and Mallets), Application (Household, Commercial and Public), and Distribution Channel (In Store and Online): Global Opportunity Analysis and Industry Forecast, 2024-2032”. According to the report, the striking tools market was valued at $1.3 billion in 2023, and is estimated to reach $1.7 billion by 2032, growing at a CAGR of 2.8% from 2024 to 2032.

 

Prime determinants of growth

The ongoing growth in construction activities, including residential, commercial, and infrastructure projects, is a major driver for the striking tools market. Hammers, sledgehammers, and other striking tools are essential for various construction tasks, from demolition to assembly.

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Report coverage & details:

Report Coverage

Details

Forecast Period

2024–2032

Base Year

2023

Market Size in 2023

$1.3 billion

Market Size in 2032

$1.7 billion

CAGR

2.8 %

No. of Pages in Report

181

Segments covered

Type, Application and Regions.

Drivers

Rapid industrialization and infrastructure development
Growth in DIY and Home Improvement Trends
 

Opportunities

Increase in renovation and remodeling activities

Restraints

Volatile price of raw materials

 

COVID-19 Scenario

The outbreak of the COVID-19 pandemic had a negative impact on the striking tools market, owing to the temporary closure of manufacturing firms during the lockdown.Not only the production but also the sale of striking tools was hampered due to the closure of manufacturing factories across the world, especially in the initial period of the pandemic.

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The hammers segment dominated the global striking tools market share, in terms of revenue

Based on type, the market is divided into hammers, hatchets, and mallets. The rise in renovation and remodelling activities, particularly in developed regions, fuels the demand for hammers. The hammers tools are essential for tasks such as breaking down walls, removing old fixtures, and installing new ones. There is a growing emphasis on workplace safety and ergonomics. Modern striking tools are designed to reduce user fatigue and injury, making them more appealing to both professional and DIY users. Improved safety features can drive the adoption of new tools in the hammers in global market.

The commercial segment dominated the market in 2023

Based on application, the market is segregated into household, commercial, and public. Rapid economic development in emerging markets leads to increased construction and industrial activities, which in turn boosts the demand for striking tools for commercial sector. These regions are witnessing significant investments in infrastructure and industrial projects. Striking tools in commercial sectors are also used in military and defense applications for construction, maintenance, and emergency situations. Government spending on defense infrastructure contributes to the market growth.

 The Asia-Pacific dominates the market share in terms of revenue in 2023

The striking tools market is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA. In 2023, Asia-Pacific accounted for more than one third of market share, and it is expected to grow at a significant CAGR throughout the forecast period. China holds the maximum share in the striking tools industry in the Asia-Pacific region. Improved distribution channels, including e-commerce platforms, have made striking tools more accessible to a broader audience. The convenience of online shopping and availability of a wide range of products drive market demand.

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Leading Market Players: –

Infar Industrial Co., LtdFiskarsPowerbuilt ToolsBon Tool, Coulee HardwareGraingerAshbel Merrel LeonardGenius Tools USACS UnitecLuna Tools.

The report provides a detailed analysis of these key players in the striking tools market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

 We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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365 Retail Markets Strengthens Leadership Team with Key Hires

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Announcement Comes as Two Long-Time Executives Retire

TROY, Mich., Dec. 26, 2024 /PRNewswire/ — 365 Retail Markets, the global leader in unattended retail technologies, today announced the appointment of Anton Rakushkin as Chief Technology Officer and Bill Reidy as VP of Sales for North America. These strategic hires come as two long-time leaders, Joe Rogan and John Chidiac, retire after years of dedicated service to the company.

365 Retail Markets announces the appointment of Anton Rakushkin as CTO and Bill Reidy as VP of Sales- North America.

Rakushkin comes to 365 with twenty years of experience in retail technology including time with Streamware Corporation and Crane Connectivity Solutions. He holds impressive accomplishments in the areas of vending management, including the architecture of Vendmax, an extensively used VMS system across the industry. His achievements also include innovations around data exchange and tools for operator success such as industry-first pre-kit and dynamic scheduling features. Rakushkin has had notable success working closely with both customers and other solution providers to create widely adopted industry standards.

“I am excited to bring my experience to the world-class team at 365 and look forward to elevating their impressive accomplishments across the industry as well as extending that success to more opportunities. By understanding customer needs and providing solutions that will drive the industry forward, we will accomplish great things,” said Rakushkin.

Reidy joins 365 Retail Markets with over thirty years of experience in sales leadership and executive management. Throughout his career, he has successfully developed and grown businesses across various verticals and industries. Reidy has cultivated a deep understanding of the SaaS industry by advancing through prominent firms, including well-known players in the automotive technology space, such as KPA, Netsertive, and DealerMatch. During his time at vAuto, he designed highly effective sales and operations management processes and built a renowned national sales team.

When asked about his optimism around 365’s growth potential, Reidy noted, “I’m fortunate to be joining a well-established team at 365 Retail Markets, and I believe that through coaching and establishing the right processes, we can expand our opportunities immensely. I am looking forward to elevating the reach and success of this organization through the help of a world-class sales team.”

Joe Hessling, CEO at 365 Retail Markets, expressed his excitement about the leadership additions. “Bringing experts like Anton and Bill onto the team is essential to keep up with the intense growth we are seeing in our unattended retail business. We have heard for years that the market is tired of the lack of investment by the legacy VMS providers and the lack of consumer-focused features from the me-too payment terminal providers.  Anton and Bill will be focused on being sure 365 remains the global leader for decades to come.”

Joe Rogan retires after 10 years with 365. While currently serving as Chief Strategy Officer, he has previously served as Chief Financial Officer and an early advisor and Board Member helping define nearly every successful initiative in the company’s history.  Joe will be missed greatly by his industry colleagues and friends at 365 but will remain in an advisory role in his retirement.

John Chidiac’s decade of service to 365 comes with many accomplishments in roles as Chief Operating Officer and later as President of International, spearheading international growth. His dedication to 365 has positioned the long-term success internationally and his relationships with many in the industry has gained him immense respect among his peers and colleagues.

Hessling acknowledged their contributions, stating, “I would like to thank both Joe and John for helping me turn 365 into what it is today.  Taking the leap to join over 10 years ago was a risk neither had to take and their impact on 365, me, and the industry has been something that most don’t ever get the chance to do in their careers.  I will miss working with them both but am happy for them in their next stage of life.”

Both retirements are effective December 31, 2024 and 365 Retail Markets thanks both individuals for their incredible dedication and commitment to the organization and industry.

CONTACT:       
Navreet Gill
VP of Marketing & Communications, 365 Retail Markets
navreet.gill@365smartshop.com

About 365 Retail Markets
365 Retail Markets is the global leader in unattended retail technology. Founded in 2008, 365 provides a full suite of best-in-class, self-service technologies for food service operators including end-to-end integrated SaaS software, payment processing and point of-sale hardware. Today, the company’s technology solutions autonomously power food retail spaces at corporate offices, manufacturing and distribution facilities, hospitality settings and more, in order to provide compelling foodservice options for consumers. 365’s technology solutions include a growing suite of frictionless smart stores, micro markets, vending, catering, and dining point-of-sale options to meet the expanding needs of its customers. 365 continuously pioneers innovation in the industry with superior technology, strategic partnerships and ultimate flexibility in customization and branding.  

For more information about 365 Retail Markets, visit www.365retailmarkets.com and connect on Facebook, Twitter, YouTube, and LinkedIn.

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SOURCE 365 Retail Markets, LLC

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The Inner Circle acknowledges, Tane Remington as a Pinnacle Professional Member

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LIVERMORE, Calif., Dec. 26, 2024 /PRNewswire/ — Prominently featured in The Inner Circle, Tane Remington is acknowledged as a Pinnacle Professional Member Inner Circle of Excellence for her contributions at the Forefront of Innovation in Physics & Engineering.               

Dr. Tane Remington, a trailblazer in the fields of physics, engineering, and materials science, continues to drive forward technological innovation as the co-founder and Chief Scientific Officer of Maelstrom Water Technologies. With a profound commitment to advancing environmental sustainability through cutting-edge research and development, Dr. Remington has established herself as a visionary leader in the industry.

Dr. Remington’s journey into the realm of scientific discovery began with a Bachelor of Science in Engineering, laying a solid foundation for her academic pursuits at Swarthmore College. At the University of California, San Diego. Here, she earned a Master of Science in Materials Science and Engineering, followed by a PhD in Mechanical and Aerospace Engineering, completing her education in 2015. Her academic achievements underscore her deep expertise and dedication to pushing the boundaries of scientific exploration.

Throughout her illustrious career spanning over a decade, Dr. Remington has amassed multiple pending patents and has actively contributed to pioneering research initiatives. Her seminal works, including groundbreaking articles on Numerical Simulations of Laboratory-Scale Hypervelocity-Impact Experiments for Asteroid-Deflection Code Validation and Deformation and failure in extreme regimes by high-energy pulsed lasers, highlight her pivotal role in advancing the frontiers of science and technology.

An active member of the American Physical Society, Dr. Remington remains committed to fostering collaborative partnerships and driving impactful change within her field. Her contributions have not only garnered acclaim but have also set new standards for innovation and excellence in physics and engineering.

Beyond her professional achievements, Dr. Remington attributes much of her success to the support of her family and peers, expressing gratitude to “all the dreamers” who have inspired and motivated her throughout her journey.

Looking ahead, Dr. Remington envisions a future marked by continued growth and success in her pursuit of environmental sustainability through technological advancement. Her unwavering commitment to innovation and scientific inquiry positions her as a catalyst for positive change in the global landscape of physics and engineering.

Contact: Katherine Green, 516-825-5634, editorialteam@continentalwhoswho.com

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SOURCE The Inner Circle

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The Inner Circle acknowledges, Donald B. Olson as a Pinnacle Life Achiever

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MIAMI, Dec. 26, 2024 /PRNewswire/ — Prominently featured in The Inner Circle, Donald B. Olson is acknowledged as a Pinnacle Life Achiever for his contributions in Leading Oceanography and Marine Science Innovator.

Dr. Donald B. Olson has established himself as a prominent figure in oceanography, marine, and atmospheric science over his illustrious 50-year career. Currently a professor at the University of Miami’s Rosenstiel School of Marine and Atmospheric Science since 1979, Dr. Olson’s contributions span across education, research, and international collaboration.

Dr. Olson’s academic journey began with a Bachelor of Science degree from the University of Wyoming in 1974, followed by both a Master of Science and a Doctor of Philosophy from Texas A&M University in 1976 and 1979, respectively. His early academic achievements paved the way for a distinguished career focused on advancing our understanding of oceanographic systems and their impact on marine ecosystems.

Throughout his career, Dr. Olson has been instrumental in fostering educational opportunities in South American oceanographic programs. He served as visiting faculty at the University of Buenos Aires and the University of Sao Paulo, pioneering graduate courses in physical oceanography tailored for fisheries and climate studies across Latin America. Additionally, Dr. Olson led a groundbreaking summer program on biophysical interactions in collaboration with Massachusetts Institute of Technology, supported by funding from the U.S. Navy to enhance biophysical models of the ocean.

Dr. Olson’s expertise spans multiple disciplines within oceanography, including marine ecosystem ecology, mesoscale oceanography, and mathematical physiology. He is a member of prestigious scientific organizations such as the American Meteorological Society, American Geophysical Union, American Association for the Advancement of Science, Oceanographic Society, and American Fisheries Society, reflecting his influence and recognition in the field.

His prolific research has garnered numerous grants from institutions like the Office of Naval Research, the National Science Foundation, and NASA. Dr. Olson’s work is widely published, with over 150 articles in scholarly journals and contributions to various book chapters. He has also served as an associate editor for Oceanography magazine, the Journal of Marine Research, and as editor of Geophysical Research Letters-Oceans.

Recognized for his outstanding contributions, Dr. Olson received the Distinguished Alumni Award from the University of Wyoming, celebrating his impact on oceanographic research and education. Looking ahead, Dr. Olson remains committed to advancing oceanographic knowledge, fostering international collaborations, and mentoring future generations of scientists in the field.

Contact: Katherine Green, 516-825-5634, editorialteam@continentalwhoswho.com

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SOURCE The Inner Circle

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