Hand Tool & Cutlery Manufacturing in Canada - Industry Market Research Report

Hand Tool & Cutlery Manufacturing in Canada - Industry Market Research Report

Hand Tool & Cutlery Manufacturing in Canada

Hand tool manufacturers in Canada produces a wide variety of metal goods, including landscaping and construction tools, industrial components and consumer products. Although a diversified product selection usually shelters the industry from macroeconomic fluctuations, the industry is largely homogeneous and its low-cost nature renders manufacturers vulnerable to pressure from lower priced and more complex substitutes such as power tools. As a result, imported products manufactured in countries with lower labour costs have increasingly flooded the Canadian market, as it can be seen with rising imports from an appreciating loonie. Overall, industry revenue has decreased at a CAGR of 0.4% over the past five years and is expected to total $780.5 million in 2023, when revenue will fall by an estimated 0.9%.

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; and pots and pans, except those manufactured by casting.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.