Hand Tool & Cutlery Manufacturing in the US
Over the five years to 2018, revenue for the Hand Tool and Cutlery Manufacturing industry is projected to decrease. Demand for the bulk of industry products depends on growth in the number of households and consumer spending. Over the past five years, the number of households has increased and consumer spending has rebounded, but domestic demand for industry products has been increasingly satisfied by imports. In an attempt to mitigate the revenue loss from decreases in demand, industry operators reduced the size of their staff and decided to offshore their manufacturing facilities to cut costs. The industry will continue to decrease, albeit at a slow rate over the next five years to 2023, as imports continue to satisfy rising demand from consumers and other purchasers of industry products, such as mechanics, chefs and hairdressers.
This industry primarily manufactures hand tools, edge tools and metal blades (e.g. screwdrivers, scrapers, bits and saw blades). The industry also manufactures metal kitchen cookware, utensils and cutlery (excluding products made by casting or stamping, without further fabrication).
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.
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