A vise grip is a type of fixture used to hold workpieces. It uses screws or other mechanisms to move the two jaws relative to each other, firmly gripping the workpiece for various processing operations. Vise grips play an important role in production processes due to their powerful clamping force and stability, which can complete various precision-required machining tasks.

Overview of Market Development

In recent years, the global vise grip market has shown a steady growth trend. This is mainly due to the rapid development of the manufacturing industry and the increasing investment in industrial automation and intelligence by various countries. According to our research data, the estimated revenue of the global vise grip market in 2024 is $181 million, an increase of 4.27% compared to 2023.

In the future, with the transformation and upgrading of the manufacturing industry and the development of intelligence, consumers' requirements for the performance, accuracy, and stability of vise grips will continue to increase, which will promote further development of the market. Meanwhile, the economic rise of emerging markets and developing countries will bring new growth points to the market. It is expected that the global vise grip market revenue will continue to increase to $223 million by 2029.

Segmented Market Analysis

From the perspective of product types, according to different usage scenarios and characteristics, the mainstream products in the current vise grip market include universal vise grips and welding vise grips. Among them, universal vise grips occupy a dominant position in the market. According to our data, the estimated revenue of the global universal vise grip segment market in 2024 is $105 million, and the market share is expected to reach 58.04%.

From the perspective of downstream application patterns, the application of vise grips involves many scenarios and fields such as engineering &construction, automotive, shipping, aerospace, and home use. Among them, the engineering & construction sector is the largest downstream application market, with an expected application share of 44.69% in 2024.

Source: www.globalmarketmonitor.com

Analysis of Market Competition Pattern

From the perspective of market competition, the concentration of the global vise grip market is moderate. The data shows that the total revenue of vise grip for the industry's top 3 enterprises is estimated to be $79.17 million in 2024, with an estimated revenue share of 43.74%. The top 3 companies are IRWIN TOOLS, Apex Tool Group, and KNIPEX. In 2024, these three companies are estimated to account for 18.75%, 13.26%, and 11.73% of the global market revenue in the vise grip market.

Vise Grip Revenue and Share of Main Companies Forecast in 2024

Companies	Revenue (Million USD)	Share
IRWIN TOOLS	33.94	18.75%
Apex Tool Group	24.00	13.26%
KNIPEX	21.23	11.73%
Top3 Companies	79.17	43.74%