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Republic of Korea - Hand Tools - Market Analysis, Forecast, Size, Trends And Insights
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Republic of Korea: Hand Tools Market Overview 2021

Hand Tools Market Size in Republic of Korea

In 2019, the South Korean hand tools market increased by X% to $X, rising for the sixth year in a row after two years of decline. Over the period under review, the total consumption indicated a buoyant increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2013 indices. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Over the period under review, the market reached the peak level in 2019 and is expected to retain growth in the near future.

Hand Tools Production in Republic of Korea

In value terms, hand tools production amounted to $X in 2019 estimated in export prices. Overall, the total production indicated resilient growth from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +X% against 2012 indices. The growth pace was the most rapid in 2008 with an increase of X% y-o-y. Over the period under review, production reached the maximum level in 2019 and is likely to see steady growth in the immediate term.

Hand Tools Exports

Exports from Republic of Korea

In 2019, hand tools exports from South Korea reduced rapidly to X tonnes, falling by -X% on the year before. Over the period under review, total exports indicated perceptible growth from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2017 indices. The growth pace was the most rapid in 2008 with an increase of X% against the previous year. As a result, exports attained the peak of X tonnes. From 2009 to 2019, the growth exports failed to regain the momentum.

In value terms, hand tools exports fell to $X in 2019. Overall, total exports indicated a noticeable increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports decreased by -X% against 2014 indices. The most prominent rate of growth was recorded in 2008 when exports increased by X% against the previous year. As a result, exports attained the peak of $X. From 2009 to 2019, the growth exports failed to regain the momentum.

Exports by Country

Iraq (X tonnes), the U.S. (X tonnes) and Japan (X tonnes) were the main destinations of hand tools exports from South Korea, with a combined X% share 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 Iraq (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X) remains the key foreign market for hand tools exports from South Korea, comprising X% of total exports. The second position in the ranking was occupied by Japan ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to the U.S. totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+X% per year) and China (+X% per year).

Export Prices by Country

The average hand tools export price stood at $X per tonne in 2019, picking up by X% against 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 2012 when the average export price increased by X% against the previous year. As a result, export price reached the peak level of $X per tonne. From 2013 to 2019, the growth in terms of the average export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Germany ($X per tonne), while the average price for exports to Pakistan ($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 Germany, while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Republic of Korea

Hand tools imports into South Korea rose to X tonnes in 2019, picking up by X% against the previous year. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2017; however, from 2018 to 2019, imports failed to regain the momentum.

In value terms, hand tools imports shrank to $X in 2019. The total import value increased at an average annual rate of +X% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2010 when imports increased by X% y-o-y. Imports peaked at $X in 2018, and then shrank slightly in the following year.

Imports by Country

In 2019, China (X tonnes) constituted the largest supplier of hand tools to South Korea, with a X% share of total imports. Moreover, hand tools imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tonnes), sevenfold. Taiwan (Chinese) (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 was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-X% per year) and Taiwan (Chinese) (-X% per year).

In value terms, the largest hand tools suppliers to South Korea were China ($X), Japan ($X) and Taiwan (Chinese) ($X), together accounting for X% of total imports.

China saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average hand tools import price amounted to $X per tonne, falling by -X% against the previous year. Over the last twelve years, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2018 when the average import price increased by X% year-to-year. As a result, import price reached the peak level of $X per tonne, and then fell slightly 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 Germany ($X per tonne), while the price for China ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese), 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?
+
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 comprising 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?
+
China (1.7M tonnes) remains the largest hand tools producing country worldwide, comprising approx. 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 Republic of Korea?
+
In value terms, the largest hand tools suppliers to South Korea were China ($102M), Japan ($65M) and Taiwan (Chinese) ($25M), together comprising 73% of total imports.
What are the leading importers of hand tools from Republic of Korea?
+
In value terms, the U.S. ($48M) remains the key foreign market for hand tools exports from South Korea, comprising 23% of total exports. The second position in the ranking was occupied by Japan ($23M), with a 11% share of total exports. It was followed by China, with a 5.9% share.
What is the average export price for hand tools in Republic of Korea?
+
The average hand tools export price stood at $16,324 per tonne in 2019, increasing by 7% against the previous year.
What is the average import price for hand tools in Republic of Korea?
+
The average hand tools import price stood at $11,104 per tonne in 2019, falling by -4.3% against the previous year.

Product coverage:
• Prodcom 25731010 - Spades and shovels
• Prodcom 25731020 -
• Prodcom 25731030 - Mattocks, picks, hoes and rakes
• Prodcom 25731040 - Axes, bill hooks and similar hewing tools (excluding ice axes)
• Prodcom 25731050 - Secateurs and similar one-handed pruners and shears (including poultry shears) (excluding secateur type scissors with secateur blades with finger rings, pruning knives)
• Prodcom 25731060 - Hedge shears, two-handed pruning shears and similar twohanded shears
• Prodcom 25731070 -
• Prodcom 25732010 - Hand saws (excluding hand saws with a self-contained motor)
• Prodcom 25732020 - Band saw blades
• Prodcom 25732030 - Circular saw blades with steel working parts (including slotting or slitting saw blades)
• Prodcom 25732050 - Circular saw blades with non-steel working parts (including slitting or slotting saw blades, parts)
• Prodcom 25732093 - Straight saw blades for working metal
• Prodcom 25732095 -
• Prodcom 25732099 -
• Prodcom 25733013 - Files, rasps and similar tools (excluding punches and files for machine tools)
• Prodcom 25733015 -
• Prodcom 25733017 -
• Prodcom 25733023 - Metal cutting shears and similar hand tools
• Prodcom 25733025 - Pipe-cutters, bolt croppers, perforating punches and similar tools excluding punches and files for machine tools, machinetype metal cutting shears and office perforating punches, t icket punches
• Prodcom 25733033 - Non-adjustable hand-operated spanners and wrenches (including torque meter wrenches) (excluding tap wrenches)
• Prodcom 25733035 - Adjustable hand-operated spanners and wrenches (including torque meter wrenches) (excluding tap wrenches)
• Prodcom 25733037 - Interchangeable spanner sockets
• Prodcom 25733053 - Drilling, threading or tapping hand tools excluding interchangeable hand tools, machine-tools or power-operated hand tools, pneumatic tools or hand tools with a selfcontained motor
• Prodcom 25733055 - Hammers and sledge hammers with working part of metal
• Prodcom 25733057 - Planes, chisels, gouges and similar cutting tools for working wood
• Prodcom 25733063 - Screwdrivers
• Prodcom 25733065 - Household hand tools
• Prodcom 25733073 - Other tools for masons, moulders, cement workers, plasterers and painters
• Prodcom 25733077 - Other hand tools (including cartridge operated riveting) w allplugging and similar hand tools
• Prodcom 25733083 - Blow lamps (excluding gas-operated welding appliances)
• Prodcom 25733085 - Vices, clamps and the like
• Prodcom 25733087 - Anvils, portable forges, hand or pedal-operated grinding wheels with frameworks (excluding grindstones and the like presented separately)

This report provides an in-depth analysis of the hand tools market in Republic of Korea. 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 2025.


Country coverage:
• South Korea

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Republic of Korea
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption In 2007–2019
Table 5:
Imports, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Value Terms, By Country, 2007–2019
Table 7:
Import Prices, By Country Of Origin, 2007–2019
Table 8:
Exports, In Physical Terms, By Country, 2007–2019
Table 9:
Exports, In Value Terms, By Country, 2007–2019
Table 10:
Export Prices, By Country Of Destination, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2019
Figure 5:
Trade Balance, In Physical Terms, 2007–2019
Figure 6:
Trade Balance, In Value Terms, 2007–2019
Figure 7:
Per Capita Consumption, 2007–2019
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2019
Figure 21:
Production, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, 2007–2019
Figure 23:
Imports, In Value Terms, 2007–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2007–2019
Figure 26:
Imports, In Value Terms, By Country, 2007–2019
Figure 27:
Import Prices, By Country Of Origin, 2007–2019
Figure 28:
Exports, In Physical Terms, 2007–2019
Figure 29:
Exports, In Value Terms, 2007–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2007–2019
Figure 32:
Exports, In Value Terms, By Country, 2007–2019
Figure 33:
Export Prices, By Country Of Destination, 2007–2019

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