NEW YORK, March 17, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'World – Hand Tools - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
Hand Tools Market Statistics
| Exports | 21,087.6 Million USD |
| Imports | 19,560.2 Million USD |
| Top Exporters | China, Taiwan (Chinese), Germany |
| Top Importers | U.S., Germany, Netherlands |
Hand Tools Market Size
In 2021, the global hand tools market decreased by -X% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 when the market value increased by X% y-o-y. Global consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure. REQUEST FREE DATA
Hand Tools Production
In value terms, hand tools production declined slightly to $X in 2021 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2021; 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 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. from 2019 to 2021, global production growth remained at a somewhat lower figure. REQUEST FREE DATA
Hand Tools Exports
Exports
Global hand tools exports rose remarkably to X tonnes in 2021, with an increase of X% compared with 2019. The total export volume increased at an average annual rate of +X% from 2007 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 when exports increased by X% against the previous year. Global exports peaked in 2021 and are likely to see steady growth in years to come. REQUEST FREE DATA
In value terms, hand tools exports stood at $X in 2021. The total export value increased at an average annual rate of +X% from 2007 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2010 with an increase of X% year-to-year. Over the period under review, global exports hit record highs in 2021 and are likely to continue growth in years to come.
Exports by Country
China prevails in hand tools exports structure, finishing at X tonnes, which was approx. X% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tonnes), mixing up an X% share of total exports. Germany (X tonnes), India (X tonnes), the U.S. (X tonnes), the Netherlands (X tonnes), Mexico (X tonnes) and Belgium (X tonnes) followed a long way behind the leaders.
Exports from China increased at an average annual rate of +X% from 2007 to 2021. At the same time, the Netherlands (+X%), Mexico (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2021. India experienced a relatively flat trend pattern. By contrast, the U.S. (-X%), Taiwan (Chinese) (-X%) and Germany (-X%) illustrated a downward trend over the same period. China (+X p.p.) significantly strengthened its position in terms of the global exports, while the U.S., Germany and Taiwan (Chinese) saw its share reduced by -X%, -X% and -X% from 2007 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($X) remains the largest hand tools supplier worldwide, comprising X% of global exports. The second position in the ranking was occupied by Taiwan (Chinese) ($X), with a X% share of global exports. It was followed by Germany, with a X% share.
In China, hand tools exports increased at an average annual rate of +X% over the period from 2007-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+X% per year) and Germany (-X% per year).
Export Prices by Country
The average hand tools export price stood at $X per tonne in 2021, declining by -X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. As a result, export price reached the peak level of $X per tonne. from 2019 to 2021, the growth in terms of the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per tonne), while India ($X per tonne) was amongst the lowest.
From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Germany, while the other global leaders experienced more modest paces of growth.
Hand Tools Imports
Imports
In 2021, purchases abroad of hand tools decreased by -X% to X tonnes for the first time since 2016, thus ending a three-year rising trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Global imports peaked at X tonnes in 2019, and then shrank in the following year.
In value terms, hand tools imports contracted to $X in 2021. The total import value increased at an average annual rate of +X% over the period from 2007 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, global imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain the momentum.
Imports by Country
In 2021, the U.S. (X tonnes), distantly followed by Germany (X tonnes) represented the major importers of hand tools, together creating X% of total imports. The following importers - the Netherlands (X tonnes), Russia (X tonnes), the UK (X tonnes), France (X tonnes), Belgium (X tonnes), Poland (X tonnes), Mexico (X tonnes), India (X tonnes), Canada (X tonnes), Indonesia (X tonnes) and Spain (X tonnes) - together made up X% of total imports.
The U.S. experienced a relatively flat trend pattern with regard to volume of imports of hand tools. At the same time, India (+X%), Indonesia (+X%), Russia (+X%), Poland (+X%), Mexico (+X%), the Netherlands (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2021. Germany and France experienced a relatively flat trend pattern. By contrast, the UK (-X%), Spain (-X%) and Canada (-X%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.
In value terms, the U.S. ($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 the Netherlands, with a X% share.
In the U.S., hand tools imports expanded at an average annual rate of +X% over the period from 2007-2021. In the other countries, the average annual rates were as follows: Germany (+X% per year) and the Netherlands (+X% per year).
Import Prices by Country
The average hand tools import price stood at $X per tonne in 2021, with an increase of X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2008 when the average import price increased by X% y-o-y. Global import price peaked at $X per tonne in 2018; however, from 2019 to 2021, import prices failed to regain the momentum.
Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per tonne), while Indonesia ($X per tonne) was amongst the lowest.
From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Poland, while the other global leaders experienced more modest paces of growth.
About IndexBox
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Product Coverage
Spades, shovels, mattocks, picks, hoes, forks, rakes; axes, bill hooks; secateurs and pruners of any kind; scythes, sickles, hay knives, hedge shears, timber wedges and other tools used in agriculture, horticulture, forestry; saws and blades for saws of all kinds (including slitting, slotting or toothless blades); files, rasps, pliers (including cutting pliers), pincers, tweezers, metal cutting shears, pipe cutters, bolt croppers, perforating punches and similar; hand-operated spanners and wrenches (including torque meter wrenches but not including tap wrenches), interchangeable spanner sockets, with or without handles; blow lamps; vices, clamps etc, not accessories for or parts of machine tools; anvils; portable forges; hand, pedal operated grinding wheels with frameworks; hand tools put up in sets for retail sale.
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