World - Hand Tools - Market Analysis, Forecast, Size, Trends And Insights
Hand Tools Market - China Tightens Its Grip on the Global Hand Tool Trade
With a global market share exceeding 50%, China has become the world's leading exporter of tools as well as a tool production base in the world. China significantly strengthened its position in the global import structure, from 59.6% in 2007 to 67.3% in 2013. This country exported 73.8% of its total hand tool output in 2013. Of this amount, 20.3% was supplied into the U.S., where hand tools held around the half of total U.S. consumption.
China and India were the main global suppliers on the hand tools market with a combined share of 74.4% of global exports in 2013. However, the fastest growing supplier from 2007 to 2013 was South Africa (+46.7% per year).
In 2013, the U.S. (7.6%), Germany (6.1%), the Russian Federation (6.1%), the United Kingdom (4.1%) and France (3.5%) were the leading destinations of hand tool imports, together making up 27.4% of global imports. The share of Nigeria increased significantly (+3.4 percentage points), while the shares of the United Kingdom and Spain illustrated negative dynamics.
Improving safety and saving time are two major trends that hand tool manufacturers are focusing on in the marketplace. Besides, more and more manufacturers come up with multi-purpose tool varieties. Tool weight, comfort and the amount of physical strength necessary to operate a tool have grown into being deciding factors for customers.
Experts never cease to improve hand tool products, manufacturers say. Some changes may seem negligible and not necessarily eye-catching in a product's outward appearance, but tomorrow's tools are likely to be of even higher quality and value.
Increasing attention on comfort as a means to improve workers' productivity is propelling innovation. With cost-efficiency and safety as the corner-stones, hand tools with advanced functionality and enhanced safety features are expected to experience increased demand in the coming years.
Do you want to know more about the global hand tools market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- hand tools market share
- hand tools prices
- hand tools industry
- hand tools sales
- hand tools market forecast
- hand tools price forecast
- key hand tools producers
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global hand tools market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
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The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
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The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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