Global Hand Tools Market Overview 2021

Hand Tools Market Size

After two years of growth, the global hand tools market decreased by -X% to $X in 2019. The market value increased at an average annual rate of +X% over the period from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, consumption attained the peak level of $X, and then contracted modestly in the following year.

Hand Tools Production

In value terms, hand tools production expanded slightly to $X in 2019 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Over the period under review, global production reached the peak level in 2019 and is expected to retain growth in the immediate term.

Production By Country

The country with the largest volume of hand tools production was China (X tonnes), accounting for X% of total volume. Moreover, hand tools production in China exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (X tonnes), tenfold. Italy (X tonnes) ranked third in terms of total production with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume in China amounted to +X%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+X% per year) and Italy (+X% per year).

Hand Tools Exports

Exports

In 2019, overseas shipments of hand tools decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +X% from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, global exports reached the maximum at X tonnes in 2017; afterwards, it flattened through to 2019.

In value terms, hand tools exports reached $X in 2019. The total export 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 exports increased by X% y-o-y. Over the period under review, global exports attained the peak figure in 2019 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in hand tools exports structure, amounting to X tonnes, which was approx. X% of total exports in 2019. Taiwan (Chinese) (X tonnes) took the second position in the ranking, followed by Germany (X tonnes). All these countries together took near X% share of total exports. India (X tonnes), Italy (X tonnes), the Netherlands (X tonnes), the U.S. (X tonnes), Mexico (X tonnes) and Belgium (X tonnes) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +X% from 2007 to 2019. At the same time, Mexico (+X%), the Netherlands (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2019. Italy, Taiwan (Chinese) and India experienced a relatively flat trend pattern. By contrast, Germany (-X%) and the U.S. (-X%) illustrated a downward trend over the same period. China (+X p.p.) significantly strengthened its position in terms of the global exports, while the U.S. and Germany saw its share reduced by -X% and -X% from 2007 to 2019, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, hand tools exports increased at an average annual rate of +X% over the period from 2007-2019. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+X% per year) and Taiwan (Chinese) (+X% per year).

Export Prices by Country

In 2019, the average hand tools export price amounted to $X per tonne, flattening at the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X% y-o-y. Over the period under review, average export prices attained the maximum in 2019 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2019, the country with the highest price was the U.S. ($X per tonne), while India ($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 other global leaders experienced more modest paces of growth.

Hand Tools Imports

Imports

In 2019, approx. X tonnes of hand tools were imported worldwide; with an increase of X% compared with 2018. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Over the period under review, global imports hit record highs at X tonnes in 2014; however, from 2015 to 2019, imports remained at a lower figure.

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

Imports by Country

In 2019, the U.S. (X tonnes), distantly followed by Germany (X tonnes) represented the key importers of hand tools, together committing X% of total imports. The following importers - the UK (X tonnes), France (X tonnes), Russia (X tonnes), the Netherlands (X tonnes), Poland (X tonnes), Spain (X tonnes), Belgium (X tonnes), Canada (X tonnes), Indonesia (X tonnes), Mexico (X tonnes) and Malaysia (X tonnes) - together made up X% of total imports.

The U.S. experienced a relatively flat trend pattern with regard to volume of imports of hand tools. At the same time, Malaysia (+X%), Indonesia (+X%), Poland (+X%), Mexico (+X%), Russia (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2019. The Netherlands, Germany, France and Spain experienced a relatively flat trend pattern. By contrast, Canada (-X%) and the UK (-X%) illustrated a downward trend over the same period. While the share of the U.S. (-X p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported hand tools worldwide, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by France, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value in the U.S. stood at +X%. In the other countries, the average annual rates were as follows: Germany (+X% per year) and France (+X% per year).

Import Prices by Country

In 2019, the average hand tools import price amounted to $X per tonne, dropping by -X% against the previous year. Over the last twelve-year period, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2018 when the average import price increased by X% year-to-year. As a result, import price attained the peak level of $X per tonne, and then reduced in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per tonne), while Malaysia ($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 other global leaders 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), with a combined 35% share 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), 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 exporters of hand tools in the world?

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In value terms, China ($7B) remains the largest hand tools supplier worldwide, comprising 35% of global exports. The second position in the ranking was occupied by Germany ($2.3B), with a 12% share of global exports. It was followed by Taiwan (Chinese), with a 9.2% share.

What are the leading importers of hand tools in the world?

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In value terms, the U.S. ($3.7B) constitutes the largest market for imported hand tools worldwide, comprising 18% of global imports. The second position in the ranking was occupied by Germany ($1.6B), with a 7.8% share of global imports. It was followed by France, with a 4.3% share.

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

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In 2019, the average hand tools export price amounted to $9,253 per tonne, flattening at the previous year.

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

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The average hand tools import price stood at $8,422 per tonne in 2019, shrinking by -5.9% against the previous year.