Hand Tools Market Overview in Sweden
Market Overview
In 2019, the Swedish hand tools market decreased by -
% to $ for the first time since 2016, thus ending a two-year rising trend. The market value increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of % year-to-year. Hand tools consumption peaked at $ in 2012; however, from 2013 to 2019, consumption remained at a lower figure.
In value terms, hand tools production surged to $ in 2019 estimated in export prices. In general, production, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of % against the previous year. Hand tools production peaked at $ in 2007; however, from 2008 to 2019, production remained at a lower figure.
% to $ for the first time since 2016, thus ending a two-year rising trend. The market value increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of % year-to-year. Hand tools consumption peaked at $ in 2012; however, from 2013 to 2019, consumption remained at a lower figure.In value terms, hand tools production surged to $
in 2019 estimated in export prices. In general, production, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of % against the previous year. Hand tools production peaked at $ in 2007; however, from 2008 to 2019, production remained at a lower figure.Consumption
In 2019, consumption of hand tools increased by % to tonnes, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the consumption volume increased by % year-to-year. As a result, consumption reached the peak volume of tonnes. From 2009 to 2019, the growth of the consumption remained at a somewhat lower figure.
The value of the hand tools market in Sweden reduced to $ in 2019, flattening at 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 remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2008 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.
% to tonnes, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the consumption volume increased by % year-to-year. As a result, consumption reached the peak volume of tonnes. From 2009 to 2019, the growth of the consumption remained at a somewhat lower figure.The value of the hand tools market in Sweden reduced to $
in 2019, flattening at 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 remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2008 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.Market Forecast
Driven by increasing demand for hand tools in Sweden, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Hand tools market in Sweden consists almost entirely of imported products.
Trade Balance
Sweden 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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