U.S. Power-Driven Handtool Market Shows Steady Growth, with China as the Largest and the Fastest-Growing Supplier

Power-Driven Hand Tools June 21, 2016
Author: Irina Andreeva
Market Analyst

Photo: © leaf / Bigstockphoto

The U.S. leads the way in global imports of power-driven handtools, accounting for a 17% share (based on USD). Germany (9%), France (5%), and the UK (4%) followed. In 2015, U.S. power-driven handtool imports totaled 7,676 million USD, which was 755 million USD (11%) more than the year before.

From 2007 to 2015, U.S. power-driven handtool imports showed mixed dynamics. A significant drop in 2009 was followed by steady growth over the next six years, with a deceleration from 2012 to 2014, followed by another hike in 2015. There was an annual increase of +8.8% throughout the post-recession period of 2009-2015. In 2011, U.S. power-driven handtool imports surpassed the pre-recession level of 2007.

Since the US is not only the largest importer of power-driven handtools in the world, but has also shown steady import growth, the U.S. remains one of the most attractive destinations for overseas suppliers.

China was the main supplier of power-driven handtools into the U.S., with a 51% share of total U.S. imports in 2015, based on USD. It was distantly followed by Mexico (12%) and Germany (8%). China was the fastest growing supplier (+7.2% per year) from 2007 to 2015, while imports from Mexico remained relatively stable. China strengthened its position in the U.S. import structure by +12 percentage points from 2007 to 2015, while Mexico saw its share reduced by -4 percentage points over the same period.

From 2007 to 2015, the U.S. was a net importer of power-driven handtools. Moreover, imports grew faster than exports on average over the period under review.

The U.S. trade deficit in this sector worsened over the period under review, growing from 2,977 million USD in 2007 to 4,821 million USD in 2015. The negative trend accelerated sharply in 2012-2015, with the trade deficit increasing by +13.7% annually.

Source: U.S. Power-Driven Handtool Market. Analysis And Forecast to 2020