Canada: Hand Tools Market 2024

Hand Tools Market Size in Canada

The Canadian hand tools market declined remarkably to $X in 2022, which is down by X% against the previous year. In general, consumption, however, continues to indicate a strong increase. Hand tools consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Hand Tools Production in Canada

In value terms, hand tools production shrank to $X in 2022 estimated in export price. Overall, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Hand tools production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Hand Tools Exports

Exports from Canada

In 2022, overseas shipments of hand tools increased by X% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hand tools exports shrank slightly to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for hand tools exports from Canada, accounting for a X% share of total exports. Moreover, hand tools exports to the United States exceeded the volume sent to the second major destination, Belgium (X tons), sevenfold. Germany (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Germany (X% per year).

In value terms, the United States ($X) remains the key foreign market for hand tools exports from Canada, comprising X% of total exports. The second position in the ranking was taken by Belgium ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average hand tools export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Canada

In 2022, the amount of hand tools imported into Canada was estimated at X tons, surging by X% against the year before. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, hand tools imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of hand tools imports to Canada, together comprising X% of total imports. Japan, Germany, Switzerland and Mexico lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Taiwan (Chinese) ($X) were the largest hand tools suppliers to Canada, together accounting for X% of total imports. Japan, Germany, Switzerland and Mexico lagged somewhat behind, together comprising a further X%.

Japan, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hand tools import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Germany ($X per ton), while the price for Mexico ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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