Asia: Hand Tools Market 2024

Hand Tools Market Size in Asia

In 2022, the Asian hand tools market decreased by X% to $X, falling for the third year in a row after four years of growth. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Hand Tools Production in Asia

In value terms, hand tools production declined modestly to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Hand Tools Exports

Exports in Asia

In 2022, after six years of growth, there was decline in shipments abroad of hand tools, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, hand tools exports amounted to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, China (X tons) represented the key exporter of hand tools, committing X% of total exports. Taiwan (Chinese) (X tons) ranks second in terms of the total exports with an X% share, followed by India (X%). The United Arab Emirates (X tons) took a minor share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, India (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hand tools supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by India, with a X% share.

In China, hand tools exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Hand Tools Imports

Imports in Asia

In 2022, overseas purchases of hand tools decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, hand tools imports declined to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, India (X tons), Indonesia (X tons), Malaysia (X tons), the United Arab Emirates (X tons), Japan (X tons), Thailand (X tons), China (X tons), South Korea (X tons), Taiwan (Chinese) (X tons), Iraq (X tons), Kazakhstan (X tons) and Singapore (X tons) represented the main importer of hand tools in Asia, generating X% of total import. Myanmar (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and India ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. South Korea, Indonesia, Thailand, Singapore, the United Arab Emirates, Malaysia, Taiwan (Chinese), Iraq, Kazakhstan and Myanmar lagged somewhat behind, together comprising a further X%.

Iraq, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, picking up by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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