With the changing lifestyle where everything is carried out instantly, industries are gearing up to make life much easier. So is the case with the home tools set industry as well which is making the everyday home task easier and convenient. The industry has showed remarkable progress in the recent years.

Cutlery Industry
As per the statistics, the US hand tool and cutlery industry boasts of some 1400 companies which together yield an annual revenue of $10 billions. The industry accounts for about 55% of the total industry revenue in the country. While The Indian production has reached to about 1.15 million tonnes in 2002-2003 which is expected to grow to 2 million tonne in the next two years. The stainless steel industry in India is in an upbeat mood which is growing at 75%. In Germany, the industry is making a mammoth progress as made 8.5 million Euro in 2005 and 5.3% in 2006.

Hand Tool Industry
With home tools set industry in a way being part of the vast hand tool industry, the industry has made voluminous progress. The China's exports of hand tools grew by 28% in 2004 while its overseas shipments increased from US$493 million in 2003 to US$630 million in 2004. There is almost a 20% growth rate of hand tools exports in the past several years. While India has has made a tremendous progress of 17% per annum for the last 7 years. It is simply because of the easy availability of raw materials, entrepreneurship skills and skilled labor at competitive wages. The U.S. industry is estimated to be a $6.2 billion and the demand is expected to rise at 3.1% annually through 2011 reaching to around $14.3 billion. The major companies actually accounted for nearly 55 percent of sales in 2006.