$10.8bn
$XXX.Xm
29,433
877
$X.Xbn
The pandemic shut down factories and pushed steel prices up in 2021. Subsequently, consumers returned to the marketplace amid the reopening economy faster than supply chains could recuperate, creating excess demand for hand tools relative to supply. Low interest rates and a tight housing market prompted widespread construction investment, putting more pressure on prices at the onset of the current period. Hand tool manufacturers were not able to take advantage of skyrocketing prices because more sales couldn't completely offset costs from high wages and input prices, namely aluminum. In the last few years, revenue fell at a CAGR of 2.1% to $10.8 billion, including an expected 3.9% decline in 2024.
Industry revenue has declined at a CAGR of 2.1 % over the past five years, to reach an estimated $10.8bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Stanley Black & Decker, Inc. | 1,723.1 | 258.8 | 15.0 | |
Snap-On Inc. | 995.3 | 101.3 | 10.2 | |
Procter & Gamble Co | 780.7 | 208.6 | 26.7 |
To view the market share and analysis for all 12 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Razor blades and razors, Mechanics' hand service tools and Cutting tools and precision measuring tools. Razor blades and razors is the largest segment of the Hand Tool & Cutlery Manufacturing in the US.
Household spending on razors and kitchen utensils subsides as budgets tighten
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 tools, utensils and cutlery (excluding products made by casting or stamping, without further fabrication).
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NAICS 33221 - Hand Tool & Cutlery Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Even amid widespread economic reopening during the pandemic, factory closures created excess demand and skyrocketing hand tool prices. Similarly, heightened prices of steel a...
Learn about an industry's products and services, markets and trends in international trade.
With the exception of 2021, companies have slashed prices in the current period to compete with less expensive, imported products. Consumer hand tool products like razors and...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Multiple prominent hand tool manufacturers like Proctor & Gamble and Snap-on Inc. have headquarters in the Great Lakes region. The area’s large manufacturing labor force supp...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Low-cost imports undercut US hand tool manufacturers’ prices. Many domestic producers target high-quality tool markets, sometimes through exporting abroad.
Learn about the performance of the top companies in the industry.
Stanley Black & Decker ended business operations in Russia following the invasion of Ukraine. The company’s Russia business had generated nearly $150.0 million annually.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
High import duties persist on aluminum and hand tool products, including for countries with US trade partnerships. Trade deals with Canada and Mexico have encouraged US expor...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Steel prices exploded in the wake of the pandemic but have since subsided. Prices will remain elevated under higher interest rates, pressuring profit for hand tool manufactur...
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Hand Tool & Cutlery Manufacturing in the US industry in United States is $10.8bn in 2024.
There are 877 businesses in the Hand Tool & Cutlery Manufacturing in the US industry in United States, which has declined at a CAGR of 2.5 % between 2019 and 2024.
The market size of the Hand Tool & Cutlery Manufacturing in the US industry in United States has been declining at a CAGR of 2.1 % between 2019 and 2024.
Over the next five years, the Hand Tool & Cutlery Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Hand Tool & Cutlery Manufacturing market in United States are Stanley Black & Decker, Inc., Snap-On Inc. and Procter & Gamble Co
Manufacturing razor blades and razors and Manufacturing mechanics' hand service tools are part of the Hand Tool & Cutlery Manufacturing in the US industry.
The company holding the most market share in United States is Stanley Black & Decker, Inc..
The level of competition is high and steady in the Hand Tool & Cutlery Manufacturing in the US industry in United States.