The Hardware Manufacturing industry is struggling, yet fighting, as it faces various problems, most stemming from international competition. Revenue fell every year from 2003 to 2010, but this trend has since reversed. The rapidly rising tide of low-cost imports continues to erode industry revenue and reinforce a focus on price-based competition. The level of price-based competition prevents domestic manufacturers from implementing price increases despite rising production costs. Furthermore, many companies are moving operations to countries where operating costs are lower, allowing them to earn better profit margins. The industry will continue to experience growth over the next five years. IBISWorld anticipates that industry revenue will increase over the next five years.
This industry manufactures various forms of metal hardware. Items produced include metal hinges, metal handles, keys and locks, excluding time locks and coin-operated locks.
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.