$7.9bn
$XXX.Xm
24,237
724
$X.Xbn
The hand tool industry faced multiple challenges during the current period, primarily attributed to volatility in demand and fluctuating input costs, with notable impacts from the pandemic. The growth in hand tool prices during this period was driven by increases in the costs of key inputs like steel and plastic. However, these cost-driven price increases are expected to reverse in 2024 as the price of steel is projected to decline, contributing to an anticipated 3.2% drop in industry revenue. Overall, industry revenue is projected to decline at a CAGR of 0.6% to reach $7.9 billion in 2024.
Industry revenue has declined at a CAGR of 0.6 % over the past five years, to reach an estimated $7.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Stanley Black & Decker, Inc. | 1,751.9 | 312.4 | 17.8 | |
Snap-On Inc. | 584.1 | 141.4 | 24.2 |
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Industry revenue is measured across several distinct product and services lines, including Mechanics' hand service tools, Dies and interchangeable cutting tools and Edge tools. Mechanics' hand service tools is the largest segment of the Hand Tool Manufacturing in the US.
The need for repair and maintenance drives demand for mechanic's hand tools
This industry primarily manufactures hand tools, including mechanics’ hand service tools, precision measuring tools, agricultural tools and woodcutting tools. This industry does not include power hand tools of any kind (electric or hydraulic).
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NAICS 33221 - Hand Tool 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.
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Including values and annual change:
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Key data sources in the US include:
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The market size of the Hand Tool Manufacturing in the US industry in United States is $7.9bn in 2024.
There are 724 businesses in the Hand Tool Manufacturing in the US industry in United States, which has declined at a CAGR of 2.2 % between 2019 and 2024.
The market size of the Hand Tool Manufacturing in the US industry in United States has been declining at a CAGR of 0.6 % between 2019 and 2024.
Over the next five years, the Hand Tool Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Hand Tool Manufacturing market in United States are Stanley Black & Decker, Inc. and Snap-On Inc.
Manufacturing mechanics' hand service tools and Manufacturing edge tools are part of the Hand Tool 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 Manufacturing in the US industry in United States.