Economy, DIY Home Improvement, and Construction Boom to Drive Hand Tools Market to $7.4 Billion by 2010

New York, February 12, 2006 — With a flourishing economy and continuing low interest rates fueling new home construction, remodeling, and do-it-yourself home improvement, the hand tools market is in the midst of a more than 10-year upward trend, with sales expected to reach $7.4 billion by 2010, according to The U.S. Market for Hand Tools, a new report from market research publisher Specialists in Business Information (SBI), a division of MarketResearch.com, a leading provider of industry-specific market research reports.

SBI estimates the market for gripping and driving tools (wrenches, hammers, screwdrivers, etc.), cutting and edge tools (axes, chisels, shears, etc.), and usage/industry-specific and other tools (such as mechanical jacks and gardening tools) at $6.2 billion in 2005—at a compounded growth (CAGR) of 4.4% for the period 2002-2005. While certain segments of the market are expected to see a slow down based on heavy competition from the power tools sector, overall compounded growth from 2006-2010 is expected to be 3.6%, with steady growth based on innovation trends, particularly in ergonomic design, value addition, and weight reduced tools.

“Power tools are certainly giving hand tools a run for their money and they will continue to challenge the hand tool sector to think outside of the box when it comes to better and more user-friendly tool designs,” said Don Montuori, the publisher of SBI. “Multi-tools are a growing niche and branded tool sets have emerged as a differentiator and a way to maintain market growth. Still, there is plenty of room for further innovation while the demand for hand tools remains strong.”

Containing comprehensive data on U.S. shipments, imports and exports, end-use markets, purchaser demographics, and the competitive environment, The U.S. Market for Hand Tools identifies key issues and trends affecting the marketplace, and profiles major marketers along with manufacturer and retailer strategies used to maximize growth and profitability. Priced at $3,000, this report can be purchased directly from SBI by clicking: http://www.marketresearch.com/product/display.asp?xs=r&productid=1189572. It is also available at MarketResearch.com.

About Specialists in Business Information
Specialists in Business Information (SBI), a division of MarketResearch.com, publishes research reports in the industrial, construction, materials, and consumer goods markets. For more information visit http://www.marketresearch.com/vendors/viewvendor.asp?SID=&VendorID=775, or contact Tom Ehart at 240-747-3014, or tehart@marketresearch.com.