Asia-Pacific: Hand Tools Market 2025

Hand Tools Market Size in Asia-Pacific

In 2021, the Asia-Pacific hand tools market decreased by -6.3% to $X, falling for the second year in a row after two years of growth. The total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.4% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Hand Tools Production in Asia-Pacific

In value terms, hand tools production stood at $X in 2021 estimated in export price. The total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.3% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 23% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Hand Tools Exports

Exports in Asia-Pacific

In 2021, approx. X tons of hand tools were exported in Asia-Pacific; growing by 25% compared with the year before. Total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.4% 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 +247.1% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 151% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, hand tools exports skyrocketed to $X in 2021. Total exports indicated a strong expansion 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 +65.6% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the major exporter of hand tools, mixing up 80% of total exports. It was distantly followed by Taiwan (Chinese) (X tons) and India (X tons), together constituting a 17% 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-Pacific, with a CAGR of +5.0% from 2012-2021. India experienced a relatively flat trend pattern. China (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -2.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hand tools supplier in Asia-Pacific, comprising 69% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 19% share of total exports.

In China, hand tools exports increased 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

In 2021, the export price in Asia-Pacific amounted to $X per ton, surging by 9.2% against the previous year. Overall, the export price posted notable growth. The most prominent rate of growth was recorded in 2016 an increase of 124% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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-Pacific

In 2021, supplies from abroad of hand tools increased by 34% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations 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 +1.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 25% against the previous year. As a result, imports reached the peak of $X; 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), Australia (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons), together recording 83% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +12.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Australia ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 39% share of total imports. These countries were followed by South Korea, India, Thailand, Indonesia, Taiwan (Chinese), Vietnam and Malaysia, which together accounted for a further 42%.

India, with a CAGR of +7.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, reducing by -6.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 14% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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