Double-edged: Despite growth, cheaper imports will dampen demand for domestic goods

IBISWorld’s industry research report on Hand Tool Manufacturing contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.


Industry Threats & Opportunities

  • A burgeoning import market will cannibalize demand for domestically produced goods
  • Supplying hand tools has become more expensive as the world price of steel has increased
  • As the US dollar strengthens, imports will rise and threaten domestic manufacturers

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    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 2016. 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...

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    Industry Report - Industry Locations Chapter

    Hand tool manufacturers are generally located near downstream industries. As such, the Great Lakes region accounts for the largest proportion of industry establishments, with about 27.0%. The Great Lakes region has significant manufacturing activity, which requires hand tools from the industry. The region contains a significant amount of America's motor vehicle, electrical and food processing industries. Industry firms flock to this area to be located close to demand locations to reduce transportation costs and increase turnaround time. Wisconsin is home to industry player Snap-on Inc., and industrial items that Illinois produces (e.g. con..

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    Additional Insights for the Hand Tool Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hand Tool Manufacturing Industry are

  • Having an extensive distribution/collection network
  • Access to the latest available and most efficient technology and techniques
  • Effective quality control
  • IBISWorld analysts also discuss how external factors such as Housing starts and Private spending on home improvements in the Hand Tool Manufacturing industry impact industry performance..

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    Industry Products

    What is the Hand Tool Manufacturing Industry?

    This industry primarily manufactures hand tools, including mechanics’ hand service tools, precision measuring tools, agricultural tools and woodcutting tools. This industry does not include power hand tools of any kind (electric or hydraulic).

    Industry Products
    Mechanics' hand service tools
    Precision measuring tools
    Edge tools, hand-operated
    Industry Activities
    Manufacturing mechanics' hand service tools
    Manufacturing precision measuring tools
    Manufacturing agricultural tools
    Manufacturing woodcutting tools
    Manufacturing plumbers' tools
    Manufacturing jewelers' tools

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Housing starts
  • Private spending on home improvements
  • Trade-weighted index
  • World price of steel

  • Current Performance
  • Market conditions vary
  • Retail demand recovering
  • Chart: Revenue Growth

  • Industry Outlook
  • Imports threaten US production
  • Rising input costs
  • Table: Hand Tool Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hand Tool Manufacturing Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Agriculture, Forestry, Fishing and Hunting
  • Tool & Hardware Wholesaling
  • Farm, Lawn & Garden Equipment Wholesaling
  • Home Improvement Stores
  • Hardware Stores
  • Warehouse Clubs & Supercenters
  • Consumers

  • Key Selling Industries
  • Aluminum Manufacturing
  • Metal Stamping & Forging
  • Plastic Film, Sheet & Bag Manufacturing
  • Steel Rolling & Drawing

  • Products & Services
  • Mechanics' hand service tools
  • Other
  • Precision measuring tools
  • Edge tools, hand-operated
  • Chart: Hand Tool Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Big-box retailers
  • Exports
  • Specialized retailers
  • Wholesalers
  • Chart: Major Market Segmentation for the Hand Tool Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Hand Tool Manufacturing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Hand Tool Manufacturing Industry

  • Industry Globalization
    Major Companies
    Stanley Black & Decker Inc.Snap-on Inc.
  • Table: Stanley Black & Decker Inc. - financial performance
  • Table: Snap-on Inc. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Hand Tool Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Hand Tool Manufacturing Industry
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Exports (2007-2021)
  • Imports (2007-2021)
  • Wages (2007-2021)
  • Private spending on home improvements (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
  • A hand tool used to measure the distance between two sides of an object.
  • Gouge
  • A tool similar to a chisel, but the blade edge is curved or angled in a cross-section.
  • Micrometer
  • A tool used to accurately calibrate machinery using precise measurements.
  • Miter Box
  • A wood working tool used to guide a hand saw.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Hand Tool Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Hand Tool Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Hand Tool Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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