Industry Analysis & Industry Trends
Tools, which are now often attached to machines, are used to work, cut, shape, move and join materials like metal and wood. Today, the tools manufactured by companies in this industry are used in almost all sectors of the economy, particularly in manufacturing, mining, construction and agriculture industries. Repair people are also a market for tools. Interchangeable tools for machine tools, such as drills, punches, turning tools and blades, are also included in the industry.
The total UK market for tools will be worth an estimated £1.37 billion in 2012-13, of which an estimated £806.1 million, or 58.8%, will be satisfied by imports. The UK operations of tool manufacturers are expected to generate revenue of £1.19 billion in 2012-13 (down 0.3%... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry in the industry are moderate overall, but vary by segment. Competition from international players is high. Opportunities in niche markets exist, but having access to the latest technology, either in-house or through links with global suppliers, is important.
It can be difficult to recruit staff that have adequate skills in this industry. Staff need to have skills related to machining and computer-aided, numeric-controlled tools and manufacturing techniques.
Industry operators manufacture a diverse range of products. In some segments, larger operators offer a diverse range of products to meet the needs of customers. The ability to offer an extensive range can raise entry barriers... purchase to read more