£1.3bn
£XX.Xm
14,790
989
£XXX.Xm
UK toolmakers’ revenue is forecast to contract at a compound annual rate of 4.2% over the five years through 2024-25 to £1.3 billion. Declining revenue can be attributed to weak industrial activity, particularly in the manufacturing, oil and gas exploration and extraction, and mining and quarrying industries. The vast majority of household tools are manufactured in low-cost regions and countries like China. These imported tools pose fierce competition to domestic producers and have become increasingly popular, weighing on revenue.
Industry revenue has declined at a CAGR of 1.8 % over the past five years, to reach an estimated £1.3bn in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue (£m)
2024 |
---|---|---|
National Oilwell Varco UK Ltd | 114.9 | |
Wilson Tool International (Europe) Ltd | 19.4 | |
Guhring Ltd | 15.6 |
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Tool Manufacturing in the UK
Industry revenue is measured across several distinct product and services lines, including Interchangeable tools for machines, Rock-drilling and earth-boring tools and Spanners and wrenches. Interchangeable tools for machines is the largest segment of the Tool Manufacturing in the UK.
Sales of interchangeable tools for machines stutter in line with industrial output
Companies in this industry manufacture tools, including clamps, vices, saws, hand tools and moulding boxes.
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SIC 25.73 - Tool Manufacturing in the UK
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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Including values and annual change:
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Key data sources in the UK include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Tool Manufacturing in the UK industry in United Kingdom is £1.3bn in 2024.
There are 989 businesses in the Tool Manufacturing in the UK industry in United Kingdom, which has declined at a CAGR of 0.9 % between 2019 and 2024.
The market size of the Tool Manufacturing in the UK industry in United Kingdom has been declining at a CAGR of 1.8 % between 2019 and 2024.
Over the next five years, the Tool Manufacturing in the UK industry in United Kingdom is expected to decline.
The biggest companies operating in the Tool Manufacturing market in United Kingdom are National Oilwell Varco UK Ltd, Wilson Tool International (Europe) Ltd and Guhring Ltd
Interchangeable tools for machines and Rock-drilling and earth-boring tools are part of the Tool Manufacturing in the UK industry.
The company holding the most market share in United Kingdom is National Oilwell Varco UK Ltd.
The level of competition is high and increasing in the Tool Manufacturing in the UK industry in United Kingdom.