United Kingdom: Hand Tools Market Overview 2021

Hand Tools Market Size in the UK

In 2019, the UK hand tools market increased by X% to $X, rising for the seventh consecutive year after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% y-o-y. Hand tools consumption peaked in 2019 and is likely to continue growth in the near future.

Hand Tools Production in the UK

In value terms, hand tools production reduced modestly to $X in 2019 estimated in export prices. Over the period under review, production showed a noticeable shrinkage. The growth pace was the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, production attained the peak level at $X in 2007; however, from 2008 to 2019, production stood at a somewhat lower figure.

Hand Tools Exports

Exports from the UK

In 2019, shipments abroad of hand tools decreased by -X% to X tonnes for the first time since 2016, thus ending a two-year rising trend. In general, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2010 when exports increased by X% y-o-y. Exports peaked at X tonnes in 2011; however, from 2012 to 2019, exports stood at a somewhat lower figure.

In value terms, hand tools exports contracted to $X in 2019. Overall, exports recorded a slight descent. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. Over the period under review, exports reached the maximum at $X in 2007; however, from 2008 to 2019, exports failed to regain the momentum.

Exports by Country

Ireland (X tonnes), the U.S. (X tonnes) and the Netherlands (X tonnes) were the main destinations of hand tools exports from the UK, together accounting for X% of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands, while exports for the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Germany ($X) and Ireland ($X) were the largest markets for hand tools exported from the UK worldwide, together accounting for X% of total exports. The Netherlands, France, Italy, Spain, Poland, Belgium, Australia, Singapore and the Czech Republic lagged somewhat behind, together accounting for a further X Netherlands saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hand tools export price stood at $X per tonne in 2019, waning by -X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by X% y-o-y. Over the period under review, average export prices reached the maximum at $X per tonne in 2014; however, from 2015 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Germany ($X per tonne), while the average price for exports to Ireland ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands, while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into the UK

Hand tools imports into the UK reduced to X tonnes in 2019, leveling off at the previous year's figure. In general, imports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Imports peaked at X tonnes in 2007; however, from 2008 to 2019, imports stood at a somewhat lower figure.

In value terms, hand tools imports shrank slightly to $X in 2019. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, China (X tonnes) constituted the largest hand tools supplier to the UK, accounting for a X% share of total imports. Moreover, hand tools imports from China exceeded the figures recorded by the second-largest supplier, India (X tonnes), fivefold. Germany (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from China stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-X% per year) and Germany (+X% per year).

In value terms, the largest hand tools suppliers to the UK were China ($X), Germany ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports. The U.S., the Netherlands, Belgium and India lagged somewhat behind, together comprising a further X saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average hand tools import price stood at $X per tonne in 2019, almost unchanged from the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per tonne in 2018, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the U.S. ($X per tonne), while the price for India ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hand tools in the world?

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The countries with the highest volumes of hand tools consumption in 2019 were China (577K tonnes), the U.S. (341K tonnes) and Japan (112K tonnes), together accounting for 35% of global consumption. These countries were followed by Italy, Germany, the UK, Brazil, Russia, France, Canada, Viet Nam, South Korea and Indonesia, which together accounted for a further 25%.

What are the largest producers of hand tools in the world?

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The country with the largest volume of hand tools production was China (1.7M tonnes), accounting for 63% of total volume. Moreover, hand tools production in China exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (176K tonnes), tenfold. The third position in this ranking was occupied by Italy (115K tonnes), with a 4.3% share.

What are the leading suppliers of hand tools to the UK?

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In value terms, China ($238M), Germany ($140M) and Taiwan (Chinese) ($86M) constituted the largest hand tools suppliers to the UK, with a combined 61% share of total imports. These countries were followed by the U.S., the Netherlands, Belgium and India, which together accounted for a further 21%.

What are the leading importers of hand tools from the UK?

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In value terms, the largest markets for hand tools exported from the UK were the U.S. ($47M), Germany ($45M) and Ireland ($39M), together accounting for 35% of total exports. The Netherlands, France, Italy, Spain, Poland, Belgium, Australia, Singapore and the Czech Republic lagged somewhat behind, together accounting for a further 36%.

What is the average export price for hand tools in the UK?

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The average hand tools export price stood at $15,551 per tonne in 2019, shrinking by -4.9% against the previous year.

What is the average import price for hand tools in the UK?

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In 2019, the average hand tools import price amounted to $9,016 per tonne, flattening at the previous year.