Global Hand Tools Market Overview
In value terms, hand tools production rose remarkably to $ in 2019 estimated in export prices. The total output value increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 with an increase of % year-to-year. Over the period under review, global production reached the peak level in 2019 and is likely to see gradual growth in the near future.
The country with the largest volume of hand tools production was China ( tonnes), accounting for % of total volume. Moreover, hand tools production in China exceeded the figures recorded by the second-largest producer, India ( tonnes), fourfold. The third position in this ranking was occupied by Taiwan, Chinese ( tonnes), with a % share.
In China, hand tools production remained relatively stable over the period from 2007-2019. The remaining producing countries recorded the following average annual rates of production growth: India (+% per year) and Taiwan, Chinese (+% per year).
The global hand tools market value expanded modestly to $ in 2019, rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% 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 2018 when the market value increased by % against the previous year. Over the period under review, the global market hit record highs in 2019 and is expected to retain growth in the immediate term.
In China, hand tools consumption expanded at an average annual rate of +% over the period from 2007-2019. In the other countries, the average annual rates were as follows: the U.S. (+% per year) and India (+% per year).
In value terms, China ($) led the market, alone. The second position in the ranking was occupied by the U.S. ($). It was followed by India.
From 2007 to 2019, the average annual rate of growth in terms of value in China stood at +%. In the other countries, the average annual rates were as follows: the U.S. (+% per year) and India (+% per year).
The countries with the highest levels of hand tools per capita consumption in 2019 were Canada ( kg per persons), Japan ( kg per persons) and the UK ( kg per persons).
From 2007 to 2019, the biggest increases were in Russia, while hand tools per capita consumption for the other global leaders experienced more modest paces of growth.