Industry Analysis & Industry Trends
Though demand fell during the recession, the industry has weathered the past five years relatively well. The improving economy led to consumers purchasing hand tools for home improvement projects they had previously delayed. However, over the next five years, the industry is not expected to fare as well, as rising import penetration hampers demand for domestically produced products.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
IBISWorld analysis reveals that the Hand Tool Manufacturing Industry is in a mature stage of its life cycle. Although industry revenue has been growing over the past five years, the industry's trajectory is expected to level out in the long run due to heavier competition from goods produced abroad. Industry value added, a measure of the industry's contribution to the overall economy, is expected to rise at an annualized rate of 1.8% over the 10 years to 2019, and this is rate largely influenced by the industry rebounding from recessionary lows. Comparatively, US GDP growth is expected to reach 2.7% per year on average over the same period.
For more than a decade, the industry has lost a substantial share of the domestic market to imports... purchase to read more