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    Hand Tool and Cutlery Manufacturing in the US Industry Market Research Report Now Available from IBISWorld

    PRWeb – Mon, Feb 13, 2012

    Demand for cutlery and hand tools collapsed in 2007, another casualty of the housing market crash. In 2010 and 2011, however, the industry was able to post revenue gains thanks to rising consumer spending and export demand. The industry has a tough battle ahead. Rising consumer spending will be met with rising import penetration, limiting industry growth.

    Los Angeles, CA (PRWEB) February 13, 2012

    Demand for products from the Hand Tool and Cutlery Manufacturing industry collapsed during the housing market crash of 2007. The number of new houses being built and the number of existing homes being sold tumbled along with house prices. This decline reduced demand for hand tools from the construction and do-it-yourself segment. As the recession hurt consumers, the rate of new household formation slowed and demand for cutlery and household hand tool products followed. After the recession, the US economic recovery has failed to gain steam along with continued weakness in construction markets. “Rising consumer spending and export demand, however, allowed revenue in the Hand Tool and Cutlery Manufacturing industry to post substantial gains in 2010 and 2011,” IBISWorld industry analyst Brian Bueno said. Over 2012, revenue is projected to increase 4.3% to $12.8 billion, capping annualized growth of 1.5% since 2007. Over 2012, new home construction is projected to experience some recovery.

    Over the five years to 2017, the industry is expected to continue its decline despite some growth at the beginning of the five-year period. As the economy picks up, US housing starts are projected to increase strongly, along with a rise in income and consumer sentiment. However, imports will limit industry growth and ultimately push back into a downward trend, Bueno said. The low level of industry concentration indicates that revenue generated by firms operating in this industry is spread across a relatively large number of industry participants. The vast majority of industry firms are small enterprises, most with less than 20 employees. The Procter & Gamble Company, Stanley Black & Decker and Snap-On Inc. are the largest companies in this industry.

    For more information, visit IBISWorld’s Hand Tool and Cutlery Manufacturing report in the US industry page.

    Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld.

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    IBISWorld Industry Report Key Topics

    This industry comprises establishments primarily engaged in manufacturing nonprecious and precious plated metal cutlery and flatware; manual hand and edge tools; manual handsaws; all types of saw blades, including those for sawing machines; metal kitchen utensils (except cutting types); and pots and pans (except those manufactured by casting or those stamped without further fabrication).

    Industry Performance

    Executive Summary

    Key External Drivers

    Current Performance

    Industry Outlook

    Industry Life Cycle

    Products & Markets

    Supply Chain

    Products & Services

    Major Markets

    Globalization & Trade

    Business Locations

    Competitive Landscape

    Market Share Concentration

    Key Success Factors

    Cost Structure Benchmarks

    Barriers to Entry

    Major Companies

    Operating Conditions

    Capital Intensity

    Key Statistics

    Industry Data

    Annual Change

    Key Ratios

    About IBISWorld Inc.

    Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

    ###

    Gavin Smith
    IBISWorld
    +1(310) 866 5042
    Email Information


     

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