United Kingdom: Hand Tools Market Overview 2021

Hand Tools Market Size in the UK

The UK hand tools market expanded slightly to $X in 2020, increasing by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the market value increased by X% against the previous year. Over the period under review, the market attained the peak level in 2020 and is likely to continue growth in the immediate term.

Hand Tools Production in the UK

In value terms, hand tools production declined to $X in 2020 estimated in export prices. In general, production showed a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2007; however, from 2008 to 2020, production failed to regain the momentum.

Hand Tools Exports

Exports from the UK

In 2020, overseas shipments of hand tools decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2010 with an increase of X% y-o-y. Over the period under review, exports hit record highs at X tonnes in 2011; however, from 2012 to 2020, exports stood at a somewhat lower figure.

In value terms, hand tools exports shrank to $X in 2020. Overall, exports saw a mild shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X% year-to-year. Over the period under review, exports reached the peak figure at $X in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

Exports by Country

Ireland (X tonnes), Germany (X tonnes) and the U.S. (X tonnes) were the main destinations of hand tools exports from the UK, with a combined X% share of total exports. These countries were followed by France, the Netherlands, Spain, Italy, Poland, Belgium, Australia, the Czech Republic and Sweden, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain, while exports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the U.S. ($X) and Ireland ($X) appeared to be the largest markets for hand tools exported from the UK worldwide, with a combined X% share of total exports. These countries were followed by France, the Netherlands, Italy, Spain, Poland, Belgium, Australia, Sweden and the Czech Republic, which together accounted for a further X 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 2020, rising by X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2012 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the peak figure at $X per tonne in 2014; however, from 2015 to 2020, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was the U.S. ($X per tonne), while the average price for exports to Belgium ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Poland, while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into the UK

In 2020, overseas purchases of hand tools decreased by -X% to X tonnes, falling for the fourth consecutive year after three years of growth. Overall, imports saw a noticeable setback. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Imports peaked at X tonnes in 2007; however, from 2008 to 2020, imports remained at a lower figure.

In value terms, hand tools imports shrank to $X in 2020. In general, imports showed 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 hit record highs at $X in 2015; however, from 2016 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, China (X tonnes) constituted the largest hand tools supplier to the UK, with 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 2020, 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. These countries were followed by the U.S., the Netherlands, Belgium and India, which together accounted for a further X saw the highest rates of growth with regard to the value of imports, among 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 2020, waning by -X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2018; however, from 2019 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, 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 2020, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

+

China (765K tonnes) constituted the country with the largest volume of hand tools consumption, comprising approx. 24% of total volume. Moreover, hand tools consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (365K tonnes), twofold. Russia (149K tonnes) ranked third in terms of total consumption with a 4.7% share.

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

+

China (2.3M tonnes) remains the largest hand tools producing country worldwide, accounting for 67% of total volume. Moreover, hand tools production in China exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (225K tonnes), tenfold. Russia (149K tonnes) ranked third in terms of total production with a 4.4% share.

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

+

In value terms, the largest hand tools suppliers to the UK were China ($226M), Germany ($134M) and Taiwan (Chinese) ($75M), together comprising 61% of total imports. The U.S., the Netherlands, Belgium and India lagged somewhat behind, together accounting for a further 22%.

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

+

In value terms, the largest markets for hand tools exported from the UK were Germany ($52M), the U.S. ($44M) and Ireland ($41M), with a combined 37% share of total exports. These countries were followed by France, the Netherlands, Italy, Spain, Poland, Belgium, Australia, Sweden and the Czech Republic, which together accounted for a further 35%.

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

+

The average hand tools export price stood at $17,325 per tonne in 2020, increasing by 10% against the previous year.

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

+

The average hand tools import price stood at $8,661 per tonne in 2020, shrinking by -4% against the previous year.