Asia: Hand Tools Market 2025

Hand Tools Market Size in Asia

In 2021, the Asian hand tools market decreased by -6.8% to $X, falling for the second year in a row after two years of growth. The total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.5% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Hand Tools Production in Asia

In value terms, hand tools production reached $X in 2021 estimated in export price. The total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.0% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 23%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Hand Tools Exports

Exports in Asia

In 2021, the amount of hand tools exported in Asia surged to X tons, rising by 25% against the previous year. Total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +242.2% against 2016 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 147%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, hand tools exports surged to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.0% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the largest exporting country with an export of about X tons, which finished at 79% of total exports. Taiwan (Chinese) (X tons) took the second position in the ranking, followed by India (X tons). All these countries together held approx. 16% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to hand tools exports from China stood at +4.9%. At the same time, Taiwan (Chinese) (+5.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of +5.0% from 2012-2021. India experienced a relatively flat trend pattern. While the share of China (+3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hand tools supplier in Asia, comprising 68% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 19% share of total exports.

In China, hand tools exports expanded at an average annual rate of +8.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+5.4% per year) and India (+1.6% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 9.3% against the previous year. In general, the export price saw a noticeable expansion. The pace of growth was the most pronounced in 2016 when the export price increased by 121%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the other leaders experienced more modest paces of growth.

Hand Tools Imports

Imports in Asia

In 2021, the amount of hand tools imported in Asia soared to X tons, with an increase of 23% against the year before. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hand tools imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2017; afterwards, it flattened through to 2021.

Imports by Country

The countries with the highest levels of hand tools imports in 2021 were India (X tons), Indonesia (X tons), China (X tons), Malaysia (X tons), Thailand (X tons), Japan (X tons), South Korea (X tons), the United Arab Emirates (X tons), Taiwan (Chinese) (X tons), Saudi Arabia (X tons), Kazakhstan (X tons) and Iraq (X tons), together reaching 74% of total import. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +12.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2021, together comprising 31% of total imports. India, the United Arab Emirates, Thailand, Indonesia, Taiwan (Chinese), Vietnam, Malaysia, Saudi Arabia, Iraq and Kazakhstan lagged somewhat behind, together comprising a further 44%.

Among the main importing countries, Iraq, with a CAGR of +11.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, remaining constant against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 8.1% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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