Austria: Hand Tools Market 2024

Hand Tools Market Size in Austria

For the third year in a row, the Austrian hand tools market recorded decline in sales value, which decreased by -8.7% to $X in 2021. Over the period under review, consumption saw a relatively flat trend pattern. Hand tools consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Hand Tools Production in Austria

In value terms, hand tools production contracted remarkably to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 69% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Hand Tools Exports

Exports from Austria

In 2021, overseas shipments of hand tools were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hand tools exports surged to $X in 2021. The total export value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for hand tools exports from Austria, accounting for a 22% share of total exports. Moreover, hand tools exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), threefold. Hungary (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+15.4% per year) and Hungary (+13.0% per year).

In value terms, Germany ($X) remains the key foreign market for hand tools exports from Austria, comprising 29% of total exports. The second position in the ranking was held by the United States ($X), with an 8.5% share of total exports. It was followed by Italy, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+5.6% per year) and Italy (+7.8% per year).

Export Prices by Country

The average hand tools export price stood at $X per ton in 2021, dropping by -2.3% against the previous year. Overall, the export price continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2020 an increase of 5.8% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Greece ($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 United States (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Austria

In 2021, overseas purchases of hand tools increased by 18% 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 +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, hand tools imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of hand tools imports to Austria, with a combined 78% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +40.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of hand tools to Austria, comprising 57% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Poland, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.4% per year) and Poland (+28.2% per year).

Import Prices by Country

The average hand tools import price stood at $X per ton in 2021, almost unchanged from the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 7.6% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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