The Hand Tool Manufacturing industry has exhibited a strong postrecessionary performance, as revenue growth has been consistent through the five years to 2016. The improving economic climate has facilitated a greater willingness by consumers to spend on home improvement projects. Over the next five years, the industry may be subject to slower demand from consumers, increased competition from foreign goods and elevated input costs for materials such as steel, aluminum, fiberglass and plastics. In general, the industry's products are built for an extended lifespan, and the replacement cycle for such tools is slow. Due to the industry's strong sales resurgence in the five years to 2016, consumers are expected to extend the useful life of their tools, limiting the need for newly manufactured hand tools in the five years to 2021.
This industry primarily manufactures hand tools, including mechanics’ hand service tools, precision measuring tools, agricultural tools and woodcutting tools. This industry does not include power hand tools of any kind (electric or hydraulic).
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.