Hand Tool & Cutlery Manufacturing in the US - Industry Market Research Report

Hand Tool & Cutlery Manufacturing in the US - Industry Market Research Report

  • October 2020 •
  • 57 pages •
  • Report ID: 170975 •
  • Format: PDF
Slice and dice: rising manufacturing and construction activity will drive industry revenue growth

Abstract

Hand Tool & Cutlery Manufacturing in the US
Over the five years to 2019, revenue for the Hand Tool and Cutlery Manufacturing industry is projected to decrease. This trend continues the industry’s ongoing gradual decline for more than a decade. Demand for the bulk of industry products depends on growth in the number of households and consumer spending. Over the past five years, the number of households has increased and consumer spending has grown; however, domestic demand for industry products has been increasingly satisfied by imports. Industry participants have been losing market share to imports. The relative stability of the manufacturing technologies required to make low-value, high-volume products has made it easy for producers in developing economies to exploit operational efficiencies achieved through lower labor costs and reduced regulatory oversights. Such efficiencies enable for the production of tools and cutlery that beat many domestic industry goods on the basis of price. The industry will continue to decrease, albeit at a slow rate over the five years to 2024, as imports continue to satisfy rising demand from consumers and other purchasers of industry products, such as mechanics, chefs and hairdressers.

This industry primarily manufactures hand tools, edge tools and metal blades (e.g. screwdrivers, scrapers, bits and saw blades). The industry also manufactures metal kitchen cookware, utensils and cutlery (excluding products made by casting or stamping, without further fabrication).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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