Dublin, Feb. 05, 2021 (GLOBE NEWSWIRE) -- The "Cutlery and Hand Tools Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Cutlery and Hand Tools Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global cutlery and hand tool market as it emerges from the COVID-19 shut down.
Major companies in the cutlery and hand tools market include Snap-on Inc; Stanley Black & Decker Inc; Bruder Mannesmann AG and Acme United Corporation.
The global cutlery and hand tools market is expected to grow from $139.58 billion in 2020 to $154.23 billion in 2021 at a compound annual growth rate (CAGR) of 10.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $201.39 billion in 2025 at a CAGR of 7%.
The cutlery and hand tools market consists of sales of cutlery and hand tools by entities (organizations, sole traders and partnerships) that are engaged in one or more of the following: manufacturing metal kitchen cookware (except those produced by casting (e. g. , cast iron skillets) or stamped without further fabrication), utensils, and/or nonprecious and precious plated metal cutlery and flatware; manufacturing saw blades, all types (including those for power sawing machines); and manufacturing nonpowered hand and edge tools. The cutlery and hand tools market is segmented into metal kitchen cookware, utensil, cutlery, and flatware; and saw blade and hand tool.
Asia Pacific was the largest region in the global cutlery and hand tools market, accounting for 42% of the market in 2020. Western Europe was the second largest region accounting for 29% of the global cutlery and hand tools market. Africa was the smallest region in the global cutlery and hand tools market.
The demand for metal additive manufacturing is growing worldwide, especially in countries such as Germany, Japan, China, and India. This is primarily due to increasing consumer demand for lightweight, faster, and fuel-efficient automobiles, which drive the demand for metal additive manufacturing. Metal additive manufacturing is a 3D printing technology used to manufacture the final product by stacking layers of material, and then polishing for a seamless appearance.
The launch of new products and market growth is expected to affect the supply chain operations of the the cutlery and hand tool manufacturing market, during the forecast period. A major limitation is the uncertainty over raw material suppliers' ability to meet market demand. Going forward, long delays and unproductive downtime in manufacturing facilities due to lack of supply chain visibility will continue to be a key challenge for metal and mineral manufacturers.
Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in cutlery and hand tool manufacturing, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs and higher margins.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Cutlery and Hand Tools Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Cutlery and Hand Tools Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Cutlery and Hand Tools Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Cutlery and Hand Tools Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Cutlery and Hand Tools Market Trends and Strategies
8. Impact of COVID-19 on Cutlery and Hand Tools
9. Cutlery and Hand Tools Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Cutlery and Hand Tools Market Regional Analysis
10.1. Global Cutlery and Hand Tools Market, 2020, by Region, Value ($ Billion)
10.2. Global Cutlery and Hand Tools Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Cutlery and Hand Tools Market, Growth and Market Share Comparison, by Region
11. Cutlery and Hand Tools Market Segmentation
11.1. Global Cutlery and Hand Tools Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Metal Kitchen Cookware, Utensil, Cutlery, and Flatware
- Saw Blade and Hand tool
11.2. Global Cutlery and Hand Tools Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Household
- Commercial
12. Cutlery and Hand Tools Market Metrics
12.1. Cutlery and Hand Tools Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Cutlery and Hand Tools Market Expenditure, 2015-2025, Global
Companies Mentioned
- Snap-on Inc
- Stanley Black & Decker Inc
- Bruder Mannesmann AG
- Acme United Corporation
For more information about this report visit https://www.researchandmarkets.com/r/cw30wn
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