An informative journey into the world of hand tools.
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Hand Tools IndustryHand tools are those types of non-powered tools which are designed for use by experts as well as in Do-It-Yourself (DIY) projects, like home repairs, general maintenance, woodworking, building, mechanics and gardening. The hand tool industry is facing new challenges related to worldwide business globalization and the invention and use of electronic business. Every single manufacturer, irrespective of its size and importance in the market, should watch the movements in its business environment, in order to adjust activities accordingly.
Characteristics of the industry
This depends on the following factors:
Generally speaking, hand tools products are applied in the following market segments:
Hand tool industry is a growing one. Developed countries like EU, USA have already been manufacturing and exporting hand tools since a long time. Developing countries like India, China, Japan are coming up. Some factors that are to be considered for the overall development of the industry are as follows:
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