Hand Tool & Cutlery Manufacturing in Canada
The Hand Tool and Cutlery Manufacturing industry in Canada produces a wide variety of metal goods, including landscaping and construction tools, industrial components and consumer products. Although a diversified product selection usually shelters the industry from macroeconomic fluctuations, its largely homogeneous and low-cost nature render manufacturers vulnerable to pressure from lower-priced and more complex substitutes such as power tools. As a result, imported products manufactured in countries with lower labour costs have increasingly flooded the Canadian market. Competition from imports will continue to constrain industry performance over the next five years, forcing some operators to reduce their workforce, merge with other operators or leave the market altogether. The companies best suited for survival in this industry are global leaders such as Griffon Corporation and Stanley Black & Decker Inc., both of which have favourable supply and distribution contracts with major Canadian retail chains, well-known brand lines and the economies of scale to compete effectively with less expensive imports.
This industry comprises establishments primarily engaged in manufacturing nonprecious and precious plated metal cutlery and flatware; manual hand and edge tools; manual handsaws; all types of saw blades, including those for sawing machines; metal kitchen utensils; and pots and pans, except those manufactured by casting.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.