Australia: Hand Tools Market 2024

Hand Tools Market Size in Australia

In 2021, the Australian hand tools market increased by 33% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Hand Tools Exports

Exports from Australia

In 2021, shipments abroad of hand tools increased by 34% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a abrupt decline. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, hand tools exports surged to $X in 2021. Overall, exports, however, continue to indicate a pronounced shrinkage. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons) was the main destination for hand tools exports from Australia, with a 36% share of total exports. Moreover, hand tools exports to New Zealand exceeded the volume sent to the second major destination, Papua New Guinea (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to New Zealand amounted to -10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (-1.3% per year) and the United States (+0.2% per year).

In value terms, New Zealand ($X) remains the key foreign market for hand tools exports from Australia, comprising 33% of total exports. The second position in the ranking was taken by Papua New Guinea ($X), with a 12% share of total exports. It was followed by the United States, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to New Zealand totaled -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+0.7% per year) and the United States (-1.2% per year).

Export Prices by Country

In 2021, the average hand tools export price amounted to $X per ton, stabilizing at the previous year. In general, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hand tools export price decreased by -3.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of 52% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Australia

In 2021, after five years of decline, there was significant growth in supplies from abroad of hand tools, when their volume increased by 40% to X tons. Overall, imports, however, showed a perceptible descent. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, hand tools imports soared to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest hand tools supplier to Australia, accounting for a 47% share of total imports. Moreover, hand tools imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-1.3% per year) and the United States (-1.0% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and the United States ($X) were the largest hand tools suppliers to Australia, together accounting for 75% of total imports.

In terms of the main suppliers, China, with a CAGR of +4.6%, recorded the highest rates of growth with regard to 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

In 2021, the average hand tools import price amounted to $X per ton, shrinking by -7% against the previous year. Overall, the import price, however, saw a resilient expansion. The growth pace was the most rapid in 2018 an increase of 40%. The import price peaked at $X per ton in 2020, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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