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How Is Technology Changing The Future Of Logistics Companies in Dubai?

Shipping companies in Dubai have always worked with remarkable efficiency and have generally been unwilling to embrace emerging technologies that may be disruptive to the logistical systems.
However, as the growing demands of consumers regarding shipping times and sustainable operations. Working in this digital age means that the Logistics companies in Dubai should take advantage of the new technologies.

Enhanced technology has also increased productivity in the supply chain, errors, and minimizing costs. These growths benefit all areas of the shipping companies in Dubai, such as trucking transportation, international transportation, shipment tracking, and supply chain management. Below are the significant changes that the shipping companies are going to see due to technological advancements.

Enhanced GPS accuracy

Those days are gone when you printed the directions from the computer before leaving the house. Now almost everyone utilizes GPS, whether built-in on their vehicles or their mobile devices. The precision of these devices has increased with the passing years; it helps the lost, frustrated drivers and helps the logistics companies in Dubai.
The advanced precision of GPS allows for increased productivity and satisfied customers by tracking truck locations and improving hauls via access to updated traffic areas.

Autonomous drones and trucks

In a world where a computer drives you from one point to the other, or you receive a package from a flying uncrewed aerial vehicle, it does sound like something out of a movie, although it is where we are moving towards.
Autonomous cars are already here. Uber and Embark have already made hauls using autonomous trucks, with Tesla also releasing a truck.
Amazon has announced that the future of packages is delivered right to the doorstep through drones, known as Amazon Prime Air. Drone deliveries are still some years out due to regulatory measures and involved costs.

There are various benefits of drone shipping, such as:
Lower employee and energy costs
Cargo does not need to be lumped together in trucks
Quicker deliver
Can make deliveries to inaccessible areas


Shipment tracking systems


Previously, consumers booked shipments, received an estimated delivery date, and then we're left in the dark unless they chose to make a phone call. Today, software and internet advances allow consumers access to tracking and shipping systems 24 hours. It enhances the customer experience, but it also saves time and money for the company.

Ships without sailors

Ninety percent of the world's trade movement is done via freight ships, and transporting goods overseas is almost always done with ships, with the high cost of air freight. With the shipping companies in Dubai depending heavily on freight ships, it is no surprise that companies are working to develop ships that rely less on humans, which cost more, and are prone to mistakes.

Remotely controlled ships, piloted by people onshore, and autonomous ships, which can take actions for themselves, are the latest beneficiaries of increased digital connectivity and intelligence.
These developments in telecommunications, electronic sensors, and computing devices have sparked interest in a range of autonomous vehicles such as cars, helicopters, trains, and now ships. Various companies and researchers globally are working hard to turn these ideas into reality.

Conclusion

In the shipping industry, we witness the collision of old school and brand new technology. Delivery meets drones, ships being automated. Some of these technologies we talked about are years off, while some of them are just around the corner. For sure, the logistics companies in Dubai are changing, and there is nothing to do to stop it.
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During the COVID-19 pandemic, the dissolving pulp and paper market is expecting a decline globally due to movement restriction, de-globalization, loss of income, restriction on import and export of products, restriction in the supply of raw materials, among others. All these factors have impacted the market growth negatively. The COVID-19 has led to the lockdown all around the world, which has impacted the dissolving pulp and paper market tremendously as it leads to lack of availability of raw material, labour shortage, shipping problems, highly inflated prices, and others. The demand for dissolving pulp has increased all around the world, owing to rapid changes in lifestyle. The increasing demand for packaged food and fresh food are the main factors impacting the growth of paper packaging, which ultimately increases the demand for dissolving pulp and paper markets. IMPACT ON PRICE The dissolving pulp and paper product is costly as the machines and technology used to manufacture high-quality products are on the higher side, which makes the end product more expensive. Also, the research for the raw material used is tedious and time-consuming. Furthermore, the maintenance of machines, technology used to make dissolving pulp and paper products add up to additional prices. The fluctuating prices of raw material for dissolving pulp and paper is the main factor restricting the growth of the market. Moreover, after a pandemic, the demand for dissolving pulp and paper products has suddenly increased in various industries, and with rising demand, the prices for dissolving pulp and paper have increased. IMPACT ON DEMAND AND SUPPLY CHAIN The demand and supply for dissolving pulp and paper had initially decreased during the beginning of the COVID-19 pandemic as it resulted in lockdown, due to which, initially, a lot of paper-based products were not used as it was not a necessity. Also, due to restriction on movement, there was a halt on the manufacturing process of end-user industries like the food industry, textile industry, pharmaceutical industry and other. But after the lockdown was lifted, the demand for dissolving pulp and paper products has increased as all the work of the end-user industry has resumed, and demand for dissolving pulp and paper has increased in food, pharmaceutical, personal care, and other industry. The rising demand is enabling manufacturers to launch new products in the market even during the COVID-19 pandemic. For instance, · In April 2020, Sappi launched Ultracast Viva, a textured release paper line made for high-fidelity PVC, PU, semi-PU, and solvent-free casting systems. This new product launch helps in maintaining sustainable practices and environmental-friendly manufacturing and helped the company in enhancing its product portfolio · In April 2020, Gulf Paper Manufacturing Company expanded its business by boosting the manufacturing capacity of packaging grades and manufactures tissue in Kuwait. This expansion helped the company in offering more products to their customers to achieve a leading position in the Kuwait market · In October 2020, UPM launched UPM SolideTM in the specialty papers category. It's food-safe kraft papers that are recyclable in regular paper recycling streams and used for packaging. This new product launch aimed to produce recyclable products to enhance their product portfolio and to contribute to the sustainable environment The increasing number of launches by the manufacturers to fulfil the demand of end-user industries even during the time of pandemic would boost the market growth even after COVID-19. However, the high prices of the product are one of the major restraining factors for the global dissolving pulp & paper market. AFTERMATH OF COVID-19 After the outbreak of COVID-19 ends, the demand for dissolving pulp and paper would be increasing as there won't be any more restrictions on movement, and the procurement of raw material would be easy, and the manufacturers could easily provide dissolving pulp and paper to the end-users. The presence of a relatively young population all around the world is increasing the demand for dissolving pulp and paper as with growing urbanization, the consumption pattern has changed, and they are more attracted towards packaged and processed food products or ready-to-go meals, which has directly increased the demand for tissue papers or paper packaging products. Additionally, growing concern related to the environment is another factor that would propel the market in the future. Dissolving pulp and paper are sustainable renewable products that help in contributing towards sustainability. Also, to promote sustainability, young consumers are opting for clothes that are made from dissolving pulp and paper to save the environment. Thus, the growing concern related to the environment and the growing need for dissolving pulp in different industries such as textile, food, and others would propel the growth of the market. CONCLUSION COVID-19 pandemic has affected almost all industries, including the dissolving pulp and paper market globally. Also, the COVID-19 outbreak has affected the economy on a global level. The COVID-19 pandemic has led to the lockdown all around the world, which has impacted the demand as well as supply of dissolving pulp and paper products across countries. After the lift of the lockdown, the demand will suddenly increase owing to increase demand for pulp and paper products in different industries such as food, cosmetics, personal care, pharmaceuticals, textile, and others. Moreover, with the growing urbanization, the young population is also opting for on-the-go food, which has suddenly increased the demand for tissue papers which will boost the growth for dissolving pulp and paper in the market. Moreover, the rising concern related to the environment is another factor boosting the growth of the global dissolving pulp and paper market. However, with rising demand, the prices of dissolving pulp and paper products are increasing, which may hamper the growth of the market as it makes it hard to afford high-priced products in developing countries or by middle-class consumers. Therefore, with the rising demand for dissolving pulp and paper in various industries, the market would grow after COVID-19 pandemic is over.
Tips to Increase Remote Employee Engagement
Many companies are now seeing the advantages of remote workforce engagement, which is leading to increased adoption. Many businesses find it appealing to recruit and retain highly competent staff in locations where they wish to reside. And employees love the ability to work remotely for most or all of their working day while still enjoying competitive employment conditions, including salary levels and benefits. From Fortune 500 companies to small businesses, there are many reasons why people choose to work remotely. Remote workers have more flexibility and autonomy over their schedules which makes them happier employees overall. Businesses save money on office space costs since they don’t need as much space for their employees anymore! However, employees who work remotely are more productive. This is the most obvious benefit of a remote team. People who work from remote places tend to be able to get their work done more quickly and avoid wasting time on distractions like office chatter, gossip, bathroom breaks, etc. When people can focus better, they create better results. Thus, better management of remote employees contributes in the following ways to accelerate your business growth- · Better retention of employees · Enhanced productivity · Improved client satisfaction · Increased innovation · Greater business reach · Better talent acquisition Ways to Increase Remote Employee Engagement - 1. Encourage social interaction 2. Promote knowledge sharing sessions through virtual meetings 3. Encourage peer-to-peer feedback 4. Assist your employees with the right tools to work 5. Give employees the flexibility to work How to manage remote employees with WorkStatus? The WorkStatus is a web-based project management software that is one of the most popular functions. It allows teams to make the most of their time together by setting working hours and task durations. One of its features is that it will enable you to determine when someone is at work, what they’re doing, and where they are. Workstatus’ remote employee monitoring service can help businesses save money, productivity tracking, manage projects, and track the time and engagement of an off-site team. You can easily manage your remote employees with WorkStatus as it provides the following benefits- · Track employee engagement with data and reports. · It automates project management. · Easy to control and view the system of remote workers. · Track tasks, time, costs, projects and manage the schedule. · Conduct interactive coaching sessions with workers across the globe. Sign up today to claim your free trial of employee monitoring software here - https://bit.ly/37AhKLB SOURCE : 7 Tips For Managers to Increase Remote Employee Engagement
Significant Impact of COVID-19 on Bulk Material Handling System in Semiconductors & Electronics Industry
COVID-19 Impact on Bulk Material Handling System in Semiconductors and Electronics Industry The lockdown situation during the COVID-19 pandemic has highly impacted the global economy. Most of the governments from different countries imposed a lockdown to break the chain of coronavirus spread. All companies related to various industries have been shut down except a few dealing with COVID-19 operations such as pharmaceutical, essential goods and services and the food industry. As a result of the COVID-19 crisis, many bulk material handling companies throughout the world have had to either temporarily close or reduce their workforces to prevent the spread of the virus. Through worldwide shortages of goods, it soon was apparent how important the world’s manufacturing and warehouse productivity is to the economy. In the bulk material handling system market, the business impact eventually proved to be less severe than first anticipated once lockdowns and restrictions were lifted. Nevertheless, the limited access to customers’ sites affected both capital and aftermarket sales of suppliers throughout the year. The COVID-19 pandemic highlighted that automation is needed for supply chains to increase efficiency. During the recent period, very few percent of supply chains felt fully prepared for the coronavirus impact. However, the bulk material handling industry can develop this situation with innovation, automation and perseverance. AFTERMATH OF GLOBAL BULK MATERIAL HANDLING SYSTEM MARKET COVID-19 pandemic affected a wide range of industries, from small to large manufacturing companies. It hampered the worldwide demand for solutions in the bulk material handling system market up to a certain extent. Limited workforce and operational restrictions negatively affected the product development life cycle. But at later stages, when lockdown restrictions were lifted, demand got stable up to a certain point. The companies developed different strategies and technologies specific to tackle problems that occurred because of the COVID-19 pandemic. For instance, · Daifuku Co., Ltd., a material handling company, stated some measures and strategies to overcome the challenges faced during the COVID-19 pandemic in their annual report 2020. To prevent the spread of COVID-19 and maintain distance from one another required a new approach to service activities for systems post-delivery. Accordingly, they are working hard to use the Internet of Things (IoT), artificial intelligence (AI) and information and communications technology (ICT) to establish material handling systems that never stop or that will be able to recover immediately even if blocked. They will continue to support stable operations of customer facilities by introducing new technologies and services, including remote operation, while ensuring the lives, safety and health of employees and their families. Likewise, many companies have started introducing new technologies and methodologies in the COVID-19 situation to remain better positioned in the market. Losses during this period can be overcome in the future by taking this slowdown to redesign and refresh the business processes and logistics operations. OPPORTUNITIES FOR THE MARKET IN COVID-19 SITUATION Market players have an opportunity to upgrade their operations and prospective for the betterment of their companies. Automation is the key to success in this unpredictable world. Different crises, labour shortages, natural disasters impact a lot on every industry. So being one step ahead of time and understanding the market well will ensure the success of the market player. In this COVID-19 pandemic, many companies adopted process automation and customization as an opportunity to survive and grow. Some of the instances are mentioned below: § Automation to overcome labor shortage: Though recent events have worsened the labor gap, the labor shortage is not new for many industries, as more workers retire and skills requirements increase. Automation offers solutions to some of these problems. Automated Process Equipment Corporation provides solutions and services for bulk material handling companies to overcome labor shortages during this pandemic situation. Super sack handling, accurate measuring, automatic routing, easily reprogrammable controls and electronic record keeping are solutions that will improve automation and reduce the dependency on the massive number of laborers. § Customized Solutions for Booming Market: KWS Manufacturing Company Ltd. partnered up with Coperion K-Tron to provide the solution for the world’s most significant high-density polyethylene and polypropylene suppliers, which is used in consumer and industrial goods ranging from plastic bags and bottles to N95 medical masks and face shields. Due to the increased demand for polyethylene and polypropylene, expanding the client’s extrusion line required new loss-in-weight additive feeders and a mixing screw conveyor. KWS and Coperion K-Tron sales and engineering teams collaborated to ensure the extrusion line expansion would be successful. IMPACT ON SUPPLY AND DEMAND COVID-19 has disrupted the supply chain on a global scale. International trade restrictions and customs regulations resulted in longer wait times and a lack of capacity for long-haul deliverables. During this pandemic, the demand for bulk material handling solutions decreased because of the limited access to customers’ sites. This affected both capital and aftermarket sales throughout the year. Most of the companies faced challenges in managing on-time project completion and order deliveries. However, many companies took this to redesign their operation and logistic models with digital capabilities to increase operational efficiency and effectiveness in such a period. For instance, · ThyssenKrupp AG Company adopted the digitization of their business processes and supply chains in 2019-2020. Their focus was on the introduction of automation solutions which included the new mobile app “Paperless”. This app allowed digitizing day-to-day processes in warehouses such as bookings, preparation of work schedules and material identification. It also created the conditions for using other automation solutions, such as driverless transportation systems, to be used in a new state-of-the-art logistics center for ThyssenKrupp Schulte. Such positive changes and automation in the supply chain will enable the companies to emerge stronger and supply chains that are more resilient to future disruptions. CONCLUSION The global bulk material handling system market suffered losses during the recent period because of COVID-19’s negative impact on global demand and supply chains. Yearly sales for the market-related products got hampered due to limited access to customer’s sites. But relaxation in lockdown regulations after few months helped the market to somewhat come back on track. However, many companies started building new technologies to overcome supply chain problems in pandemic situations. They adopted digitization and automation in day-to-day business processes and supply chains. Although it will take some more time for companies to come back on track, this period made everyone realize the need for up-gradation in many business aspects.
Impact of COVID-19 on Grain-Oriented Electrical Steel in Chemicals & Materials Industry
COVID-19 Impact on Grain-Oriented Electrical Steel in Chemicals and Materials Industry Grain oriented electrical steel is a category of electrical steel which comprises iron-silicon alloys that are developed to provide the low core loss and high permeability, which are required for efficient and economical electrical transformers in power generation application. COVID-19 has adversely affected the demand of the global grain oriented electrical steel market, particularly, power and energy sector. Pandemic has also affected the import and export of the steel products across all the regions, which has resulted in the decline in the demand of the grain oriented electrical steel. The demand of the grain oriented electrical steel has declined approximately by 12%-14% in the COVID-19 period. The COVID-19 has unbiasedly affected all sectors due to which the mandate of the several products in the global as well as in the domestic market has fallen down. The prevailing grain oriented electrical steel demand conditions in the majority of developing nations demonstrates that the electrical steel consumption have deteriorated in the pandemic situation. Several large industries who are engaged in the manufacturing of grain oriented electrical steel product have faced several challenges towards the sale of the raw material for the finished goods due to shutdowns in the manufacturing of the several industries such as in automotive and electronic goods. This has led to the lower demand of the electrical steel in the global market AFTER MATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE GLOBAL GRAIN ORIENTED ELECTRICAL STEEL MARKET The demand of the home appliances have fallen during the COVID-19 by approximately by 45% due to which the demand of the electrical steel products in the electrical manufacturing industry has decreased. The large industry has resulted in less demand of the new machinery and components due to which demand of the electrical steel in manufacturing of motors and electrical ballasts have reduced during the pandemic situation. Post COVID, developing economies, such as China is expected to move more rapidly towards normalization of economic activity for the different sectors. This will increase the demand of the electrical steel products, and will increase the import for grain oriented electrical steel. With the stringent government regulation, particularly, in the field of infrastructure, the demand of the grain oriented electrical steel products such as hot-rolled sheets and cold rolled sheets would subsequently increase. Automobile manufacturers are heavily investing funds in the market. With the increase in the demand for the modern electric vehicles, the demand for the grain oriented electrical steel is set to rise in the global market. STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE Pre-pandemic, manufactures had financial stability; however, COVID-19 had forced the manufactures into extreme slumps. The effects of the pandemic will largely affect the small and medium business. The grain oriented electrical steel is extensively used in the manufacturing of the electric motors and components which are brought to application in the electric appliances. During the COVID-19, manufacturing of the heavy electrical equipment have tumbled down which result in the fall in the demand for the electricals steels in motors application. Several types of components are used in the transformers which have different flux density which help to lower the wastage of the energy during transmission but the demand of the different size of transformers have fallen down due to which demand of the grain oriented electrical steel from equipment manufacturers have fallen down. During the pandemic, several electrical equipment manufacturers have shut down the production for more than six months which has had a bad impact on the demand of electrical steel market. PRICE IMPACT Steel industry is also playing a crucial role in the electrical steel market since tons of steel and other metals are used in the manufacturing of the grain oriented electrical steel. The pandemic has also impacted the demand of the steel products in all the regions. In the U.S., steel mills have to adjust their production activities to avoid rising inventories and declining prices of the steel products which result in lower revenue generation. As demand of the steel is declining, integrated steelmaker in U.S. steel manufacture has decided to idle blast furnaces and cut production of steel. Japan steel production is expected to decline by 25.9% as per the Vietnam Steel Association (VSA), companies associated with the VSA registered a 15% decline in steel production and a 38% reduction in steel exports in Q1 2020. COVID-19 has adversely affected the steel prices as the demand of the steel has fallen down as lockdown in several industries. IMPACT ON DEMAND During the COVID-19, manufacturing of the heavy electrical equipment have tumbled down, which resulted in the declined demand for the grain oriented electricals steel. Several types of components are used in the transformers which have different flux density that help to lower the wastage of the energy during transmission. However, the demand of the different size of transformers has collapsed. During the pandemic, several electrical equipment manufacturers have shut down the production for indefinite time period, which have adverse impact on the demand of grain oriented electrical steel market IMPACT ON SUPPLY CHAIN Power and energy industry is heavily relying on Supply Chain Management (SCM). Improvement in the supply chain has always been demanded by the manufacturers and the end users. The COVID-19, which led to the abrupt halt of the transportation sector, indirectly affected the supply chain for the grain oriented electrical steel market. Manufacturers had to bear the storage cost as well as had to face the consequences for the late conveyances. The delivery of raw goods was adjourned or annulled, which resulted in the rise of the cost to the end users. The Import-export of the final product was also severely wedged, hindering the completion of major projects, resulting in increased costs. CONCLUSION The COVID-19 crisis has created the pandemic situation widely, which affected the growth of the overall steel industry. The demand in the energy and power, building and construction, automotive activities have withered down globally. The nationwide lockdown across the globe for all the manufacturing units, construction activities and others, resulted in lower demand of grain oriented electrical steel products, which eventually, lead to huge loss for manufactures. The manufacturer of grain oriented electrical steel components and equipment had to abruptly halt the production which had its impact on the supply-chain. Flux in the demand of the electricity in different countries have lowered and has proportionally affected the demand of the grain oriented electrical steel products in the energy and power sector. The fluctuation in the price of steel has also impacted the manufacturing of the grain oriented electrical steel. Progressive demand of electricity and power in the man industry and launch electrical vehicles will increase the demand of grain oriented electrical steel in coming years.
Significant COVID-19 Impact on Hand Tools in the Semiconductors & Electronics Industry
COVID-19 Impact on Hand Tools in the Semiconductors and Electronics Industry COVID-19 made a major impact on the hand tools market as almost every country has opted for the shutdown for every production facility except the ones dealing in producing the essential goods. To prevent the spread of coronavirus disease, the government has taken some strict actions such as the shutdown of production and sale of non-essential goods, blocked international trade, and many more. The only business which is dealing in this pandemic situation is the essential services that are allowed to open and run the processes. The companies such as pharmaceuticals and chemicals, among others, are allowed to continue operation but with certain safety rules. A hand tool is any tool that is not a power tool – that is, one powered by hand (manual labour) rather than by electricity or fuel. Some examples of hand tools are garden forks, secateurs, rakes, hammers, spanners, pliers, screwdrivers, chisels, and others. Hand tools are generally less dangerous than power tools. The global hand tools market size is estimated to be USD 8.4 billion in 2021 and is projected to reach USD 10.3 billion by 2026, growing at a CAGR of 4.0%. The growth of the market is attributed to the increasing commercial as well as residential construction and infrastructure projects, adoption of hand tools in households for residential/DIY purposes as well as growing manufacturing setups and increasing repair and maintenance operations across the world. However, factors such as an increase in safety risks and concerns due to improper use of hand tools are restraining the market growth. The shutdown of production facilities during the pandemic situation has had a significant impact on the market. The future of the hand tools market looks promising, with opportunities in increasing commercial as well as residential construction and infrastructure projects. The global hand tools market is expected to decline in 2020 due to the global economic recession caused by COVID-19. However, the market will witness recovery in the year 2021. The major drivers for this market are the increasing commercial as well as residential construction and infrastructure products. Emerging trends, which have a direct impact on the dynamics of the hand tools industry, include the introduction of more efficient power tools and the increase in hand tool automation to reduce physical work that might boost hand tool usage. IMPACT ON PRICE Although the COVID-19 pandemic continues to transform the growth and prices of various industry-related products, the price of the products with respect to the hand tools market maintain a steady line throughout the pandemic. This denotes that there are no major changes in the price of the hand tools due to the effect of the pandemic. IMPACT ON SUPPLY CHAIN Supply chains are complex systems where the risks and costs associated with mismanagement and communication failures in globally connected organizational networks are relatively high. For instance, · In May 2019, Stanley Black & Decker announced the opening of a new plant for the production of its brand CRAFTSMAN in Fort Worth, Texas. The new facility has an area of 425,000-square-foot and is expected to employ approximately 500 full-time employees Some of the most influential factors that affect the supply chain in regards to the hand tools manufacturing companies are companies seeking strategies to protect their position in the value chain, looking for new markets, finding new possibilities to leverage skills and offering more value to customers. AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE MARKET Government efforts to encourage the adoption of hand tools in household alternatives have developed at a rapid pace in recent years. Governments in the European Union, China, Japan, Canada, India, and South Korea are among the major geographies where governments are taking aggressive measures to increase the adoption of hand tools in residential/DIY purposes as well as growing manufacturing setups and increasing repair and maintenance operations. For instance, · There have been some major policy developments in the European Union. Improvements in hand tool requirements and the digitalization of hand tool based industries, which focuses on government procurement of increased usage of hand tool based systems which form a greater initiative · Another guideline, the 'Performance Buildings Directive,' has been established, which establishes minimum requirements for hand tool infrastructure installation in buildings Such favourable initiatives are anticipated to boost the adoption of hand tools in commercial and residential based projects and thus drive the adoption of the repair and maintenance operations market during the forecast period of 2021 to 2028. STRATEGIC DECISIONS OF MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE Revenue growth for the hand tools market has experienced a decline in 2020 due to constricted economic activity expected as a result of the COVID-19 outbreak. So, the hand tools manufacturing companies have adopted various strategies to overcome the decline in revenue. Some of the most common strategies adopted by industries are as follows, · The reduction of experimentation costs due to the speeding up of the testing phase · The reduction of the number of costly physical prototypes and redesign linked to their fast obsolescence · The improvement of design quality via the availability of information very early on in the development process CONCLUSION Pandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players, and consumers could win the fight against COVID-19. Also, COVID-19 has likely influenced the development of the hand tools market because of the closing down of processing plants, impediment in-store network, and decline in the world economy. With COVID-19 affecting countries at different times and rates, access to global demand through open markets, the pandemic situation created by COVID-19 has a major impact on the hand tools market as it has lowered its demand owing to the shutdown of most of the manufacturers all across the globe. Along with industrial disruptions, the commercial, construction, and infrastructure projects across the world were either cancelled or put on hold owing to the lockdown impositions. On the other hand, as the homeowners spent most of their time at homes during the pandemic, there was a noticeable shift in focus towards home improvements, interiors and home decoration activities at the residential/DIY level, which in turn called for a slight demand for hand tools. Thus, the hand tools and woodworking tools market is getting affected by COVID-19. This has resulted in a lower estimated year-on-year growth rate as compared with 2019. On the other hand, improvisation of technologies has led to gain strong industrial growth. However, the growth has been high after the market has opened after COVID-19, and it is expected that there would be considerable growth in the sector owing to high technology and interfaces that are expected to drive the overall demand of the market.