Hand Tools Market Overview in Singapore
Market Overview
The Singaporean hand tools market shrank to $
in 2019, falling 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). Over the period under review, consumption recorded a abrupt curtailment. The growth pace was the most rapid in 2010 when the market value increased by % year-to-year. Hand tools consumption peaked at $ in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.
in 2019, falling 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). Over the period under review, consumption recorded a abrupt curtailment. The growth pace was the most rapid in 2010 when the market value increased by % year-to-year. Hand tools consumption peaked at $ in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.Consumption
Hand tools consumption in Singapore fell to tonnes in 2019, shrinking by -% on the previous year. Overall, consumption saw a abrupt decline. The pace of growth appeared the most rapid in 2010 with an increase of % year-to-year. Hand tools consumption peaked at tonnes in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.
The size of the hand tools market in Singapore dropped to $ in 2019, declining 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). In general, consumption showed a abrupt downturn. The growth pace was the most rapid in 2010 with an increase of % y-o-y. Hand tools consumption peaked at $ in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.
tonnes in 2019, shrinking by -% on the previous year. Overall, consumption saw a abrupt decline. The pace of growth appeared the most rapid in 2010 with an increase of % year-to-year. Hand tools consumption peaked at tonnes in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.The size of the hand tools market in Singapore dropped to $
in 2019, declining 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). In general, consumption showed a abrupt downturn. The growth pace was the most rapid in 2010 with an increase of % y-o-y. Hand tools consumption peaked at $ in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.Market Forecast
Depressed by shrinking demand for hand tools in Singapore, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to depress the market volume to tonnes by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Singapore increased significantly over the last twelve-year period (from % to %).
% to %).Trade Balance
Singapore remains a net importer of hand tools; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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