Global Household Hand Tools Market to Grow at 2.3% CAGR Through 2030

IndexBox has just published a new report: World - Household Hand Tools - Market Analysis, Forecast, Size, Trends And Insights.

Driven by rising demand for household hand tools worldwide, the market is expected to experience steady growth with a +2.3% CAGR in volume and +4.3% CAGR in value from 2024 to 2030. This upward trend is set to bring the market volume to 502K tons and market value to $4.8B by the end of 2030.

Market Forecast

Driven by increasing demand for household hand tools worldwide, the market is expected to continue an upward consumption trend over the next six years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.3% for the period from 2024 to 2030, which is projected to bring the market volume to 502K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2024 to 2030, which is projected to bring the market value to $4.8B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Household Hand Tools

In 2024, consumption of household hand tools decreased by -1.1% to 437K tons, falling for the second consecutive year after two years of growth. The total consumption volume increased at an average annual rate of +2.8% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption reached the maximum volume at 463K tons in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

The global household hand tools market value stood at $3.7B in 2024, standing approx. 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 +1.9% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $4.4B. From 2019 to 2024, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were China (83K tons), India (45K tons) and the United States (37K tons), together accounting for 38% of global consumption. Pakistan, Italy, Indonesia, Japan, Nigeria, Malaysia and Mexico lagged somewhat behind, together accounting for a further 27%.

From 2013 to 2024, the biggest increases were recorded for Malaysia (with a CAGR of +16.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($653M), Japan ($502M) and the United States ($299M) were the countries with the highest levels of market value in 2024, together accounting for 39% of the global market. India, Italy, Mexico, Indonesia, Nigeria, Pakistan and Malaysia lagged somewhat behind, together comprising a further 27%.

Nigeria, with a CAGR of +14.1%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of household hand tools per capita consumption in 2024 were Malaysia (428 kg per 1000 persons), Italy (372 kg per 1000 persons) and Japan (126 kg per 1000 persons).

From 2013 to 2024, the biggest increases were recorded for Malaysia (with a CAGR of +14.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Household Hand Tools

In 2024, approx. 478K tons of household hand tools were produced worldwide; leveling off at the previous year's figure. Overall, the total production indicated a measured expansion from 2013 to 2024: its volume increased at an average annual rate of +3.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -0.7% against 2022 indices. The pace of growth appeared the most rapid in 2017 with an increase of 29%. Over the period under review, global production hit record highs at 481K tons in 2022; however, from 2023 to 2024, production remained at a lower figure.

In value terms, household hand tools production rose remarkably to $4.3B in 2024 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2013 to 2024: its value increased at an average annual rate of +3.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -4.7% against 2022 indices. The most prominent rate of growth was recorded in 2018 with an increase of 39% against the previous year. Global production peaked at $4.6B in 2019; however, from 2020 to 2024, production failed to regain momentum.

Production By Country

China (250K tons) remains the largest household hand tools producing country worldwide, comprising approx. 52% of total volume. Moreover, household hand tools production in China exceeded the figures recorded by the second-largest producer, India (45K tons), sixfold. The third position in this ranking was taken by Pakistan (22K tons), with a 4.6% share.

From 2013 to 2024, the average annual growth rate of volume in China amounted to +3.3%. The remaining producing countries recorded the following average annual rates of production growth: India (+4.9% per year) and Pakistan (+5.9% per year).

Imports

World Imports of Household Hand Tools

Global household hand tools imports shrank modestly to 162K tons in 2024, flattening at the previous year. In general, total imports indicated a temperate increase from 2013 to 2024: its volume increased at an average annual rate of +2.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -11.2% against 2021 indices. The pace of growth appeared the most rapid in 2020 with an increase of 23% against the previous year. Over the period under review, global imports attained the peak figure at 183K tons in 2021; however, from 2022 to 2024, imports remained at a lower figure.

In value terms, household hand tools imports totaled $1.3B in 2024. The total import value increased at an average annual rate of +2.1% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 24% against the previous year. As a result, imports attained the peak of $1.4B. From 2022 to 2024, the growth of global imports failed to regain momentum.

Imports By Country

In 2024, the United States (31K tons), distantly followed by Malaysia (17K tons) and Germany (8.7K tons) were the largest importers of household hand tools, together committing 34% of total imports. Brazil (5.5K tons), Russia (5.2K tons), France (5.1K tons), Spain (5.1K tons), the Netherlands (4.6K tons), El Salvador (4.3K tons) and the UK (3.3K tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Malaysia (with a CAGR of +46.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($206M), Germany ($106M) and France ($50M) appeared to be the countries with the highest levels of imports in 2024, together accounting for 27% of global imports. Spain, the Netherlands, Russia, the UK, Malaysia, El Salvador and Brazil lagged somewhat behind, together comprising a further 16%.

In terms of the main importing countries, El Salvador, with a CAGR of +38.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2024, the average household hand tools import price amounted to $8,169 per ton, surging by 3.4% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the average import price increased by 10%. Over the period under review, average import prices hit record highs at $9,376 per ton in 2016; however, from 2017 to 2024, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($12,179 per ton), while Malaysia ($1,552 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Spain (+5.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Household Hand Tools

Global household hand tools exports rose modestly to 203K tons in 2024, growing by 4% against the previous year's figure. Over the period under review, total exports indicated a noticeable increase from 2013 to 2024: its volume increased at an average annual rate of +3.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +215.9% against 2016 indices. The growth pace was the most rapid in 2017 when exports increased by 95%. The global exports peaked in 2024 and are expected to retain growth in the near future.

In value terms, household hand tools exports fell to $1.9B in 2024. Overall, exports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 32% against the previous year. The global exports peaked at $2.1B in 2023, and then contracted in the following year.

Exports By Country

China prevails in exports structure, amounting to 167K tons, which was approx. 82% of total exports in 2024. Belgium (5.5K tons), the Netherlands (4.3K tons), Malaysia (4.3K tons) and Germany (3.4K tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +5.0% from 2013 to 2024. At the same time, Malaysia (+38.6%), Belgium (+29.8%) and the Netherlands (+9.8%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +38.6% from 2013-2024. Germany experienced a relatively flat trend pattern. From 2013 to 2024, the share of China, Belgium and Malaysia increased by +10, +2.5 and +2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.5B) remains the largest household hand tools supplier worldwide, comprising 78% of global exports. The second position in the ranking was taken by Germany ($75M), with a 3.8% share of global exports. It was followed by the Netherlands, with a 1.8% share.

In China, household hand tools exports increased at an average annual rate of +9.2% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Germany (+0.8% per year) and the Netherlands (+6.5% per year).

Export Prices By Country

The average household hand tools export price stood at $9,535 per ton in 2024, declining by -10.9% against the previous year. In general, export price indicated modest growth from 2013 to 2024: its price increased at an average annual rate of +1.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the average export price increased by 71% against the previous year. As a result, the export price attained the peak level of $15,988 per ton. From 2017 to 2024, the average export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($21,997 per ton), while Malaysia ($1,765 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform