Which Countries Produce the Most Hand Tools?
Cutlery, Hand Tools And General Hardware March 02, 2017
Photo: © alessandroguerriero / Bigstockphoto
Global hand tool market production was estimated at 31,409 million USD in 2015, which was 311 million USD higher than in 2014. There was an annual increase of +1.0% in value terms and +1.4% in physical terms for the period from 2007 to 2015. In physical terms, hand tool production reached 3,012 thousand tonnes.
According to market research conducted by IndexBox, China (7,082 million USD), the U.S. (5,200 million USD), EU-28 (2,730 million USD), South Korea (2,177 million USD), India (1,943 million USD), Thailand (1,322 million USD), and Mexico (1,021 million USD) were the countries with the largest production of hand tools in absolute volumes.
Mexico (+9.6% per year), China (+7.4% per year), South Korea (+4.0% per year), and India (+3.7% per year) attained the most notable growth rates in hand tool production among the main producing countries from 2007 to 2015. By contrast, EU-28 (-8.2% per year) and Thailand (-3.0% per year) showed negative dynamics.
Improving safety and saving time are the two major focuses of the hand tool manufacturers. Besides, more and more manufacturers are coming up with multi-purpose tool varieties. Tool weight, comfort, and the amount of physical strength necessary to operate a tool have become deciding factors for customers.
Top 5 countries producing the most hand tools in 2015
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
- hand tool prices
- hand tool industry
- hand tool sales
- hand tool market forecast
- hand tool price forecast
- key hand tool producers
Source: World: Hand Tools - Market Report. Analysis and Forecast to 2025
