In 2020, governments of various countries implemented disease prevention and blockade measures to curb the spread of the novel coronavirus, which has severely impacted the global economy. The decline in demand for industrial applications and the reduction in consumption of personal vehicles will impact the hand tool industry. For example, due to the implementation of travel bans and remote working in various countries, the demand for aircraft and vehicle maintenance services has dropped sharply. However, the impact of the pandemic has increased the time ordinary people spend at home, driving the readiness for repair and home DIY, and indirectly slowing the impact of weak global demand for industrial hand tools.
I. Industrial Characteristics
II. Current Status of Market Supply and Demand
III. Key Issue Analysis
IV. Conclusions and Suggestions
Table 1 Classification and scope of products of the metal fabrication industry