Industry Analysis & Industry Trends
The Hand Tool Manufacturing industry has exhibited a strong postrecessionary performance, as revenue growth has been consistent through the five years to 2015. 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.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
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 will 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 1.7% over the 10 years to 2020, and this is rate largely influenced by the industry rebounding from recessionary lows. Comparatively, US GDP growth is expected to reach 2.5% 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. In 2015, imports are expected to account for 36.2% of domestic demand... purchase to read more