Global sales of hand tools & accessories to surpass Dhs73bn by 2010

In spite of its low profile, the industry is among the most lucrative and one of the few in the world that is not affected by recession.

This global growth phenomena in the hardware and tools sector has proved highly beneficial for Epoc Messe Frankfurt GmbH, organizers of Hardware and Tools Middle East, the region's largest event for power tools, hand tools, hardware, iron-mongery, workshops and woodworking machinery; scheduled to take place from 25 to 27 May at the Dubai International Convention and Exhibition Centre.

Eckhard Pruy, CEO of Epoc Messe Frankfurt remarked, "The global hardware & tools market is controlled by North America, Europe and Japan who between them hold the reins to more than 60% of the business, however, the Middle East and Asia offer the strongest potential for growth that is almost double the global CAGR at over 9%."

Mr. Pruy noted that the industry is one of the few in the world that is not affected by global recession "When depression sets in and most industries face a slump, the hardware and tools trade continues to fare better as it offsets a growing demand among consumers to save money by doing the repair work themselves," he stressed.

The hardware and tools trade is among the most steadily profitable lucrative industries worldwide. While the business volumes are lower than conventional manufacturing sectors, growth potential is remarkable.

"Mechanics' service tools market represents the largest segment of global hand tools and accessories market with an estimated share of 56.7% in 2007," observed Gavin Morlini, Senior Show Manager of Hardware & Tools.

He noted that even though the products themselves are relatively "low-tech", the industry is highly advanced and computerized and employs up to date technology to produce high quality products.

The Hardware and Tools exhibition will serve as a business link for the manufacturers and suppliers of hardware and tools and their buyers from the construction industry, joineries and carpentries in the UAE and the region to allow both sides to take advantage of the excellent opportunities that this market presents.

This year Hardware and Tools Middle East will run in conjunction with four other shows; ISH Kitchen and Bath Middle East, Light Middle East, International CES/hometech and the Garden and Landscaping Middle East exhibition. More than 18,000 visitors are expected to visit the five shows over the three days.