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 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 2015. 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