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

Slice and Dice: Import Penetration Will Likely Challenge Revenue After Strong Post-Recession Growth

COVID-19 shut down factors and pushed steel prices up in 2020. Consumers returned to the reopening economy faster than supply chains could reconfigure, creating massive excess demand for hand tools. Low interest rates and a tight housing market prompted widespread construction investment, putting more pressure on prices. Hand tool manufacturers worked overtime to hire more employees and take advantage of skyrocketing prices. The boost from more sales couldn't outpace costs from climbing wages and input prices, namely steel, forcing profit to fall to 3.7% in 2023. 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.