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U.S. Hand Tool Market 2010


Description: Production of studied hand tools in the U.S. will hit $3.3 billion in 2010 as compared to 2010 consumption of $4.3 billion. For reference 1982’s production was $2.1 billion and corresponding consumption of $2.0 billion. Please see the detailed exhibits below. From the mid-eighties to the future, imports are playing a greater role as traditional U.S. producers either source off-shore, move off-shore or retract from the market. Exports are generally declining or remaining stable at today’s lowered values and as production decreases, most often so exports decrease.

Hand tool production dollars hit its peak in 1997 at $3.5 billion and will see 2010 at approximately the same level, $3.3 billion. Above we see that the three major segments, mechanics’, carpenters’ and horticultural tools remain at or near historic highs through 2010. In the face of growing import dollars and lowered exports, hand tool manufacturing in the U.S. appears to have stabilized barring additional or unforeseen movement of a major producer to off-shore sourcing. With as much of U.S. production having been moved off-shore any change is noe very obvious.

The product detail below, points out some subtle differences in the tool segments. Mechanics’ hand tool production for 2010 equals 2002 levels, slightly above 1997 levels, while 2010 carpenters’ hand tool production declines from 1997 and horticultural tool production for 2010 also near equals 2002 below 1997 levels. More is discussed in the individual product detail, but the real strength of mechanics’ tools lies in the strength of a small group of dedicated manufacturers whereas carpenters’ and horticultural tools are produced by a greater number of smaller producers and are relatively easy to source off-shore and be integrated seamlessly into existing product lines. Also more carpenters’ tools are being displaced by power tools than are the other two segments and this trend appears to be continuing at a rapid rate with new power tool introductions.


U.S. hand tool consumption dollars have increased every year, except 2006 and 2009, since we began participating in the market during 1958. One of the lowest rates of increase was 2000 through 2002 due to producer economic fears and the mild recession of 2001 and 2002. As will be discussed numerous times in this report, notwithstanding the recession, users and consumers continue to be the beneficiary of lower cost imports and increased need for hand tools that creates demand. It may be argued that this continued increase in consumption with lowered production has cost the industry many jobs and severely affected the outlook for many smaller communities that have lost production facilities to off-shore production.


Contents: Mechanic's Hand Tools

Screwdrivers

Slip Joint Pliers

Solid Joint Pliers

Wrenches

Non-Adjustable

Adjustable

Torque

Sockets & Drives

Vises

Taps & Dies

Carpenter's Hand Tools

Hand Saws

Carpenter Saws

Hack Saws & Blades

Planes & Chisels

Pro-Edge Tools

LIght Hammers

Heavy Hammers

Ball Peen Hammers

Files & Rasps

Horticultural Hand Tools

Axes & Hatchets

Forestry Edge Tools

Pruners & Shears

Forks & Hoes

Hedge Shears & Loppers

Shovels & Spades

Non-pwd Grass Shears




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