Denmark: Market for Hand-Operated Drilling, Threading or Tapping Tools 2024

Market Size for Hand-Operated Drilling, Threading or Tapping Tools in Denmark

In 2022, after two years of decline, there was significant growth in the Danish market for hand-operated drilling, threading or tapping tools, when its value increased by 79% to $X. In general, consumption, however, showed a deep reduction. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Hand-Operated Drilling, Threading or Tapping Tools in Denmark

In value terms, production of hand-operated drilling, threading or tapping tools reduced rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, faced a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of 89,723% against the previous year. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Hand-Operated Drilling, Threading or Tapping Tools

Exports from Denmark

In 2022, approx. X tons of hand-operated drilling, threading or tapping tools were exported from Denmark; with a decrease of -28% on 2021. In general, exports showed a pronounced slump. The most prominent rate of growth was recorded in 2020 when exports increased by 72%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, exports of hand-operated drilling, threading or tapping tools shrank remarkably to $X in 2022. Overall, total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 88%. Over the period under review, the exports of reached the peak figure at $X in 2021, and then declined rapidly in the following year.

Exports by Country

Greenland (X tons) was the main destination for exports of hand-operated drilling, threading or tapping tools from Denmark, with a 37% share of total exports. Moreover, exports of hand-operated drilling, threading or tapping tools to Greenland exceeded the volume sent to the second major destination, Norway (X tons), twofold. The UK (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Greenland stood at +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-4.2% per year) and the UK (+62.2% per year).

In value terms, Greenland ($X) emerged as the key foreign market for hand-operated drilling, threading or tapping tools exports from Denmark, comprising 33% of total exports. The second position in the ranking was held by the Philippines ($X), with an 11% share of total exports. It was followed by the UK, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value to Greenland totaled +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+185.7% per year) and the UK (+39.8% per year).

Export Prices by Country

In 2022, the average export price for hand-operated drilling, threading or tapping tools amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for hand-operated drilling, threading or tapping tools increased by +6.0% against 2018 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 65% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hand-Operated Drilling, Threading or Tapping Tools

Imports into Denmark

In 2022, the amount of hand-operated drilling, threading or tapping tools imported into Denmark skyrocketed to X tons, picking up by 17% compared with the previous year's figure. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -0.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 65% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of hand-operated drilling, threading or tapping tools shrank to $X in 2022. In general, imports, however, continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 37%. Over the period under review, imports of hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The UK (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of imports of hand-operated drilling, threading or tapping tools to Denmark, together accounting for 86% of total imports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +39.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of hand-operated drilling, threading or tapping tools to Denmark, comprising 41% of total imports. The second position in the ranking was taken by China ($X), with a 10% share of total imports. It was followed by the UK, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.4% per year) and the UK (+4.5% per year).

Import Prices by Country

In 2022, the average import price for hand-operated drilling, threading or tapping tools amounted to $X per ton, declining by -24.3% against the previous year. In general, the import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2021 an increase of 40% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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