Global Hand Tools Market 2024

Hand Tools Market Size

The global hand tools market declined slightly to $X in 2022, waning by X% against the previous year. The market value 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 in certain years. Over the period under review, the global market hit record highs at $X in 2021, and then declined slightly in the following year.

Hand Tools Production

In value terms, hand tools production fell modestly to $X in 2022 estimated in export price. In general, the total production indicated a measured expansion 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 increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Global production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Hand Tools Exports

Exports

In 2022, shipments abroad of hand tools decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. 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 most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then dropped modestly in the following year.

In value terms, hand tools exports contracted slightly to $X in 2022. Overall, total exports indicated temperate 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, exports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

China dominates exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), mixing up an X% share of total exports. India (X tons), Germany (X tons), the Netherlands (X tons) and Belgium (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 Netherlands (X%), Belgium (X%), Taiwan (Chinese) (X%) and Germany (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, 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.) and the Netherlands (X p.p.) increased significantly in terms of the global 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 ($X) remains the largest hand tools supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of global exports. It was followed by Germany, 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 Germany (X% per year).

Export Prices by Country

In 2022, the average hand tools export price amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per ton), while India ($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 global leaders experienced more modest paces of growth.

Hand Tools Imports

Imports

In 2022, overseas purchases of hand tools decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then reduced slightly in the following year.

In value terms, hand tools imports reduced slightly to $X in 2022. The total import value increased at an average annual rate of X% 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 imports increased by X%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, the United States (X tons), distantly followed by Germany (X tons) were the main importers of hand tools, together constituting X% of total imports. The Netherlands (X tons), Russia (X tons), France (X tons), the UK (X tons), Poland (X tons), Belgium (X tons), Spain (X tons), India (X tons), Indonesia (X tons), Italy (X tons) and Malaysia (X tons) took a minor share of total imports.

The United States was also the fastest-growing in terms of the hand tools imports, with a CAGR of X% from 2012 to 2022. At the same time, the Netherlands (X%), India (X%), Poland (X%), Spain (X%), Belgium (X%), France (X%), Germany (X%), Italy (X%), Malaysia (X%), Russia (X%), Indonesia (X%) and the UK (X%) displayed positive paces of growth. From 2012 to 2022, the share of the United States and the Netherlands increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (X% per year) and the Netherlands (X% per year).

Import Prices by Country

In 2022, the average hand tools import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Global import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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