Handtool, Cutlery & Flatware Manufacturing
Description
Companies in this industry are primarily engaged in manufacturing metal cutlery, nonpowered hand and edge tools, saw blades, metal kitchen utensils, and metal kitchen pots and pans. Major US companies include Klein Tools, Lifetime Brands, LS Starrett, Oregon Tool, Snap-on, and the tools unit of Stanley Black & Decker.
The US handtool, cutlery, and flatware industry includes about 1,100 companies with combined annual revenue of about $10 billion.
COMPETITIVE LANDSCAPE
Demand depends heavily on the construction and building repair industries. The profitability of individual companies depends on effective marketing and efficient production. Large companies have economies of scale in purchasing and production. Small firms can compete by making specialty products. The US industry is concentrated: the 50 largest companies account for about 70% of the revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Companies take a significant part of their revenue from miscellaneous hand tools which account for about 10% of the industry's revenues. Mechanic's hand service tools and precision measuring tools are also about 10%, each. Other products include steel rule dies (about 5%), metalworking and other power saws, and cooking and kitchen utensils.
Manufacturers use a variety of fabrication processes, including forging, stamping, bending, forming, and machining, to turn purchased metal into final products. Steel is the major raw material, often in the form of alloys with special properties such as hardness or resistance to corrosion. Plastic is frequently used for handles.
Small manufacturers may buy semi-finished forgings or castings from outside suppliers; large manufacturers usually make their own. Because most handtools are fairly simple devices, the production process is uncomplicated and easily lends itself to automation. Companies typically make a range of products.
The US handtool, cutlery, and flatware industry includes about 1,100 companies with combined annual revenue of about $10 billion.
COMPETITIVE LANDSCAPE
Demand depends heavily on the construction and building repair industries. The profitability of individual companies depends on effective marketing and efficient production. Large companies have economies of scale in purchasing and production. Small firms can compete by making specialty products. The US industry is concentrated: the 50 largest companies account for about 70% of the revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Companies take a significant part of their revenue from miscellaneous hand tools which account for about 10% of the industry's revenues. Mechanic's hand service tools and precision measuring tools are also about 10%, each. Other products include steel rule dies (about 5%), metalworking and other power saws, and cooking and kitchen utensils.
Manufacturers use a variety of fabrication processes, including forging, stamping, bending, forming, and machining, to turn purchased metal into final products. Steel is the major raw material, often in the form of alloys with special properties such as hardness or resistance to corrosion. Plastic is frequently used for handles.
Small manufacturers may buy semi-finished forgings or castings from outside suppliers; large manufacturers usually make their own. Because most handtools are fairly simple devices, the production process is uncomplicated and easily lends itself to automation. Companies typically make a range of products.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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