Global Hand Tool Market Reached 30,4B USD in 2015

Cutlery, Hand Tools And General Hardware May 26, 2017
Author: Sergey Avramenko
Head of Global Markets Research Team

hand tool market

Photo: © Nosnibor137 / Bigstockphoto

According to market research conducted by IndexBox, in 2015, the hand tool market value grew to 30,394 million USD. From 2007 to 2015, the global hand tool market showed mixed dynamics. A significant drop in 2008-2009 was followed by a gradual increase from 2010 to 2015. Despite the increase for several years, which, however, slowed down in the last year, consumption did not recover to its pre-crisis level until 2015.

The U.S. (23%), South Korea (7%), India (6%), China (5%), and Thailand (5%) were the countries with the highest consumption, together comprising nearly 46% of global consumption. The highest annual growth rates of hand tool consumption from 2007 to 2015 were recorded in South Korea (+4.1% per year) and China (+3.3% per year). South Korea (45 USD/year), the U.S. (22 USD/year), and Thailand (21 USD/year) had the highest levels of per capita consumption among the leading consuming countries, which were significantly higher than the world average of 4 USD/year.

Hand tools are a widely traded commodity, with the share of exports in the total global output standing at about 56% in 2015. In 2015, the value of global exports totaled 17,676 million USD. China dominates in global hand tool production and trade. In 2015, China exported 6,126 million USD worth of hand tools (35% оf total exports), which accounted for 87% of its total hand tools output. Of this amount, 26% was supplied to the U.S., where U.S. hand tools held a 22% share of total consumption. Germany (1,947 million USD) and the U.S. (1,412 million USD) were the other main global suppliers of hand tools, with a combined share of 19% of global exports.

The value of global imports totaled 17,183 million USD in 2015. Following the high trade intensity, the share of imports in global demand accounted for about 54%. In 2015, the U.S. (19%) and, distantly, Germany (8%), the UK (5%), France (4%), Canada (4%), the Netherlands (3%), and China (3%) were the leading destinations of hand tool imports, together making up 46% of global imports in physical/value terms.

Do you want to know more about the global hand tool market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • hand tool market share
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  • hand tool industry
  • hand tool sales
  • hand tool market forecast
  • hand tool price forecast
  • key hand toolsproducers

Source: World: Hand Tools - Market Report. Analysis and Forecast to 2025