IBISWorld’s Procurement Research Reports cover thousands of indirect purchasing lines. Our data and analysis help you strategically engage and negotiate with suppliers and give you the credibility to work with internal stakeholders and executives. IBISWorld’s Precision Hand Tools procurement research provides price trends and forecasts, supplier benchmarks and negotiation questions all intended to give your company leverage during the sourcing process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard

Precision Hand Tools - Recent Price Trend

During the three years to 2017, precision hand tool prices have been increasing mildly at an estimated annualized rate of 0.8%. This increase has primarily been the result of a larger customer base, which has been spurring demand from key buyers, and high volatility in key input prices. However, heavy competition among suppliers has been limiting the extent of price increases and low overall...


Precision Hand Tools - Total Cost of Ownership

The total cost of ownership associated with precision hand tools is low. After the initial purchase cost, there is little maintenance needed for an individual tool. Additionally, precision hand tools do not require any extra products or services to function as intended. Depending on the quality of a specific product, precision hand tools such as screwdrivers and wrenches can have service lives of...


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About this Report

This report is intended to assist buyers of precision hand tools. Precision hand tools are operated manually rather than by an engine, and include screwdrivers, pliers, wire strippers, scissors, wrenches, calipers, dial indicators and micrometers. The primary suppliers of these tools are manufacturers and wholesalers. Key buyers of precision hand tools are hardware stores, construction companies and consumer goods manufacturers. This report excludes power tools, metal cutting tools, hydraulic tools and pneumatic tools.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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