Report Update: May 1, 2024

United Kingdom - Interchangeable Tools For Hand Tools - Market Analysis, Forecast, Size, Trends and Insights

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Interchangeable Tool Price in the UK - 2023

Interchangeable Tool Price in the UK (CIF) - 2023

In May 2023, the average interchangeable tool import price amounted to $23,751 per ton, falling by -8% against the previous month. Overall, import price indicated a notable increase from May 2022 to May 2023: its price increased at an average monthly rate of +3.4% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on May 2023 figures, interchangeable tool import price decreased by -15.0% against March 2023 indices. The pace of growth was the most pronounced in June 2022 when the average import price increased by 30% month-to-month. The import price peaked at $27,950 per ton in March 2023; however, from April 2023 to May 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In May 2023, the country with the highest price was the United States ($87,245 per ton), while the price for Turkey ($5,825 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Germany (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Interchangeable Tool Price in the UK (FOB) - 2023

The average interchangeable tool export price stood at $40,136 per ton in May 2023, rising by 48% against the previous month. In general, the export price showed a buoyant increase. The pace of growth appeared the most rapid in January 2023 an increase of 83% month-to-month. The export price peaked in May 2023.

There were significant differences in the average prices for the major overseas markets. In May 2023, the country with the highest price was Australia ($98,716 per ton), while the average price for exports to India ($10,277 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports in the UK

In 2022, the amount of interchangeable tools for hand tools imported into the UK rose significantly to 32K tons, picking up by 11% against the year before. Overall, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +12.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.7% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 24%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, interchangeable tool imports expanded markedly to $605M in 2022. The total import value increased at an average annual rate of +6.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 20% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Interchangeable Tool in the UK (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
China	116	98.6	153	14.8%
Germany	116	102	130	5.9%
United States	77.7	54.6	59.3	-12.6%
Japan	25.1	53.1	23.2	-3.9%
Belgium	17.9	14.4	17.0	-2.5%
Taiwan (Chinese)	7.4	7.7	16.5	49.3%
Italy	12.0	16.1	14.9	11.4%
France	15.1	10.0	12.9	-7.6%
Spain	6.5	5.8	5.7	-6.4%
Czech Republic	3.8	3.6	5.3	18.1%
Others	105	81.0	101	-1.9%
Total	502	447	538	3.5%

Top Suppliers of Interchangeable Tool to the UK in 2022:

China (15.4K tons)
Germany (4.0K tons)
Japan (1.4K tons)
Taiwan (Chinese) (0.7K tons)
United States (0.7K tons)
Italy (0.5K tons)
Czech Republic (0.5K tons)
Belgium (0.5K tons)
Spain (0.5K tons)
France (0.3K tons)

Interchangeable Tool Exports in the UK

Interchangeable tool exports from the UK soared to 16K tons in 2022, increasing by 28% compared with 2021. In general, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +15.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +94.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 52%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, interchangeable tool exports reached $347M in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 20%.

Export of Interchangeable Tool in the UK (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
Germany	35.0	27.1	71.8	43.2%
United States	47.1	38.9	47.6	0.5%
Ireland	23.7	23.5	17.8	-13.3%
Netherlands	16.8	12.1	16.0	-2.4%
France	15.0	12.1	14.0	-3.4%
Australia	11.0	10.8	11.0	0.0%
Norway	8.7	11.6	10.1	7.7%
Saudi Arabia	9.5	8.4	8.9	-3.2%
Spain	9.2	8.7	7.3	-10.9%
Poland	11.6	7.9	7.1	-21.8%
South Africa	2.5	3.2	4.5	34.2%
Belgium	5.8	4.1	4.3	-13.9%
Falkland Islands (Malvinas)	0.1	N/A	2.6	409.9%
Others	157	114	115	-14.4%
Total	353	283	338	-2.1%

Top Export Markets for Interchangeable Tool from the UK in 2022:

Germany (3601.3 tons)
United States (976.5 tons)
Ireland (679.8 tons)
Australia (630.9 tons)
Netherlands (556.9 tons)
Norway (517.5 tons)
France (511.4 tons)
Spain (386.3 tons)
Falkland Islands (Malvinas) (343.8 tons)
Belgium (330.1 tons)
Poland (311.6 tons)
Saudi Arabia (226.0 tons)
South Africa (193.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the interchangeable tool market in the UK. 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 2030.

Product coverage:

Prodcom 25734014 - Tapping tools for working metal
Prodcom 25734016 - Threading tools for working metal
Prodcom 25734019 - Tapping or threading tools (excluding work and tool holders for machines or hand tools, for working metal)
Prodcom 25734023 - Drilling tools with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for rock drilling)
Prodcom 25734025 - Masonry drills with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for rock drilling)
Prodcom 25734027 - Drilling tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734031 - Drilling tools with working part of high speed steel, for working metal excluding work and tool holders for machines or hand tools - for rock drilling
Prodcom 25734033 - Drilling tools with working part of materials other than diamond, agglomerated diamond or sintered metal carbide, f or working metal excluding with working part of high speed steel
Prodcom 25734035 - Drilling tools (excluding work and tool holders for machines or hand tools, with working part of diamond or agglomerated diamond, for rock drilling, masonry drills, for working metal)
Prodcom 25734037 - Boring or broaching tools with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for earth boring)
Prodcom 25734044 - Boring tools for working metal, with working part of materials other than diamond or agglomerated diamond
Prodcom 25734045 - Boring or broaching tools (excluding work and tool holders for machines or hand tools, with diamond or agglomerated diamond working parts, for working metal, for earth boring)
Prodcom 25734048 - Broaching tools for working metal, with working part of materials other than diamond or agglomerated diamond
Prodcom 25734050 - Milling tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734061 - Shank type milling tools for working metal (excluding with working part of sintered metal carbide)
Prodcom 25734065 -
Prodcom 25734067 -
Prodcom 25734069 - Milling tools (excluding for working metal)
Prodcom 25734071 - Turning tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734074 - Turning tools for working metal, with working part of materials other than cermets
Prodcom 25734079 - Turning tools (excluding work and tool holders for machines or hand tools, for working metal)
Prodcom 25734081 - Other interchangeable tools of CN .82.07 with working part of diamond
Prodcom 25734083 - Screwdriver bits with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
Prodcom 25734085 - Gear-cutting tools with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
Prodcom 25734087 - Interchangeable hand tools with working part of sintered metal carbide excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
Prodcom 25734089 - Interchangeable tools in other materials
Prodcom 25736013 - Rock drilling or earth boring tools with working part of cermets
Prodcom 25736018 - Rock-drilling or earth-boring tools, interchangeable, and parts therefor, with working parts of materials other than sintered metal carbide or cermets
Prodcom 25736023 - Dies for drawing or extruding metal, with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
Prodcom 25736024 - Dies for drawing or extruding metal (excluding unmounted plates, sticks, tips, rods, pellets, rings, etc. of sintered metal carbides or cermets)
Prodcom 25736033 - Pressing, stamping or punching tools for working metal (excluding work and tool holders for machines or hand tools)
Prodcom 25736039 - Pressing, stamping or punching tools (excluding work and tool holders for machines or hand tools, for working metal)

Country coverage:

United Kingdom

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the UK
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023