The Tool and Hardware Manufacturing industry is under attack from external sources in Australia and abroad. Imports from low cost producing countries reduce any growth potential in the largest product market segment, hand and edge tools. This product segment is also under threat from product substitutes such as power tools (classified in other industries). These factors have lowered domestic demand for industry products and caused industry revenue to decrease at an average rate of 3.2% per annum over the past five years to an expected $355.4 million in 2011-12 - a 3.4% decline on 2010-11. There is little industry consolidation occurring as revenue declines.
This industry consists of firms that manufacture cutlery, industrial knives and hand tools excluding those tools made from wood, and those that are pneumatic (air powered) or electrically powered.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.