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 Products Chapter
The Hand Tool Manufacturing industry produces over 100 products ranging from axes and blowtorches to nonelectric can openers and putty knives. These products can be broken into roughly three segments: mechanics' hand service tools, precision measuring tools, and agricultural and woodcutting tools.
Mechanics' hand service tools
Mechanics' hand service tools make up the majority of the industry's revenue with about 35.5% of total revenue in 2014. These tools are mainly used in automobile, aircraft, truck or industrial machinery industries. Products in this segment include, cutters, scrapers, files, screwdrivers, sockets, jacks (non-hydraulic or pneumatic) and blowtorches... purchase to read more