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Hand Tool Manufacturing: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Hand Tool Manufacturing Market Research Report | NAICS OD5929 | Jun 2016

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

IBISWorld’s Hand Tool Manufacturing market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Annual Growth 11-16
Annual Growth 16-21
Annual Growth
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... ... purchase to read more

Industry Report - Industry Analysis Chapter

The industry’s strong reliance on the residential sector and the recovery from the recession ultimately spurred the overall growth of the industry over the past five years. The number of homeowners has rebounded significantly since 2011, thus increasing consumer demand for hand tools. Increased consumer spending as a result of lower unemployment and rising disposable income has further contributed to industry growth. Therefore, demand for newly manufactured hand tools has been recovering in the five years to 2016. IBISWorld expects that industry revenue will increase at annualized rate of 0.3% to $6.7 billion over the five-year period, including a 2.9% growth in 2016 alone.

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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... purchase to read more


    Industry ProductsRelated Reports

    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 toolsPrecision measuring toolsEdge tools, hand-operated
    Industry Activities
    Manufacturing mechanics' hand service toolsManufacturing precision measuring toolsManufacturing agricultural toolsManufacturing woodcutting toolsManufacturing plumbers' toolsManufacturing 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
  • Includes:
  • 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 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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