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

The Hand Tool Manufacturing industry has performed well over the past five years. The industry, which was hit particularly hard by the recession, has recovered steadily since. One of the key drivers of this growth has been the growth in the value of residential construction. Consumers flocked back to the market to unleash pent-up demand for purchases of hand tools for home improvement projects, which consumers delayed during the recession. Additionally, growth in the big-box retailers segment proved extremely beneficial for industry operators. While specialty retailers faltered during the downturn, big-box retailers and other large home improvement store brands such as Home Depot and Lowe's enticed customers with incentives...purchase to read more.

Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 12-17
2.3%
Forecast Growth 17-22
Profit
Employment
30,766
Businesses
988

Industry Threats & Opportunities

  • Growth in the big-box retailers segment proved extremely beneficial for industry operators
  • The largest market for the Hand Tool Manufacturing industry is the retail sector
  • IBISWorld expects the market for imports to grow due to the strengthening of the US dollar
  • Industry Report - Industry Key Buyers Chapter

    Overall, the Hand Tool Manufacturing industry has a low level of market share concentration. IBISWorld estimates that the top three companies in the industry make up less than 30.0% of revenue in 2017. Although the industry has well-known companies such as Stanley Black & Decker and Snap-On, the majority of companies in the industry are small companies that operate locally or specialize in a particular type of hand tool.In the next five years, industry concentration is expected to increase slightly. During this time, the total number of enterprises is projected to fall at an annualized rate of of 0.2% to 979 companies. The...purchase to read more.

    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 Value of residential construction and Trade-weighted index in the Hand Tool Manufacturing industry impact industry performance..

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    What's in this report

    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
  • Dies and interchangeable cutting tools
  • Edge tools
  • 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

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Value of residential construction
  • Trade-weighted index
  • Value of private nonresidential construction
  • Private spending on home improvements

  • 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

  • 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
  • Dies and interchangeable cutting tools
  • Edge tools
  • Chart: Hand Tool Manufacturing Industry Products and Services Segmentation

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

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesOther 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
    Stanley Black & Decker Inc., Snap-On Inc.,
  • Table: Stanley Black & Decker Inc. - financial performance
  • Table: Snap-On Inc. - financial performance

  • 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
    Table: Industry Data for the Hand Tool Manufacturing Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Private spending on home improvements (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Caliper
  • 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.
  • What Our Customers Say

    Why buy this report?

    The Hand Tool Manufacturing industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    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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