Industry Analysis & Industry Trends
The Hand Tool and Cutlery Manufacturing industry 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, its largely homogeneous and low-cost nature render manufacturers vulnerable to pressure from lower-priced substitutes. As a result, imported products manufactured in countries with lower labour costs have increasingly flooded the Canadian market, though the dollar's sharp depreciation in recent years has helped drive exports and boost industry performance. Input cost fluctuation has harmed revenue growth, however, as the price of steel and aluminum inputs has fallen drastically... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Due to growing pressure from low-cost imported goods, the Hand Tool and Cutlery Manufacturing industry in Canada is in the declining life cycle stage. Over the ten years to 2022, industry value added, which measures an industry's contribution to the national economy, is expected to decrease at an annualized rate of 2.7%. In contrast, the Canadian economy is expected to grow at an annualized rate of 1.8% over the same period.
In order to revitalize demand for their products, some industry operators (e.g. disposable razor manufacturers) have focused on introducing new variations of existing product lines. Whi.. purchase to read more