Hand Tool Manufacturing
The Hand Tool Manufacturing industry has performed well over the past five years. The industry, which was hit particularly hard by the recession, has recovered steadily since. One of the key drivers of this growth has been the growth in the value of residential construction. Consumers flocked back to the market to unleash pent-up demand for purchases of hand tools for home improvement projects, which consumers delayed during the recession. Additionally, growth in the big-box retailers segment proved extremely beneficial for industry operators. While specialty retailers faltered during the downturn, big-box retailers and other large home improvement store brands such as Home Depot and Lowe's enticed customers with incentives. Over the next five years, the industry is expected to grow, albeit not as quickly. A burgeoning import market will continue to cannibalize demand for domestically produced goods. At the same time, a relatively strong US dollar is expected to constrain export sales.
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.
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